Recycling stock backed by Mukul Agarwal jumps 10% after receiving order for brass scrap

Synopsis: A company engaged in manufacturing brass components came into the spotlight after announcing the receipt of orders worth Rs 4 crore. Ace investor Mukul Agrawal holds over a 10 percent stake, and the company has delivered a three-year profit CAGR of 66 percent.

A recycling stock, also engaged in manufacturing brass plumbing and sanitary components, saw its shares surge 10 percent after announcing the bagging of a Rs 4.03 crore order for supplying brass scrap honey. This follows a similar order for the same component received from another entity a day earlier. With a market cap of Rs 131 Cr, Siyaram Recycling Industries Ltd saw its stock hit an intraday high of Rs 64 which is 10 percent higher than the previous close of Rs 58. 

News

On Thursday, Siyaram Recycling Industries Ltd announced that it has secured a domestic order worth Rs 4.03 crore from Saanvi Metal Craft for the supply of brass scrap honey. The fixed-cost order will be executed within six months, supporting revenue growth in the metal recycling segment.

In addition, the company also received another domestic order from Dharma Metalex yesterday (Wednesday) for the supply of brass scrap honey, valued at Rs 5.14 crore. This fixed-cost order is likewise scheduled to be executed within a six-month period.

Brass Honey Scrap is a high-quality, clean yellow brass scrap, commonly containing over 65 percent copper. It is widely used by metal manufacturers and foundries as a key raw material for producing brass components, fittings, electrical parts, automotive components, and various engineering and construction applications.

Ace Investor Holding

As of Q2FY26, Mukul Agrawal holds more than 10 percent stake in the company. According to the available sources, the ace investor has held the same percent of stake since Q3FY25.

Financials

Incorporated in 2007, Siyaram Recycling Industries Ltd is engaged in recycling plastic waste, primarily PET bottles, into value-added products like recycled polyester staple fibre and chips, catering to textile, packaging, and sustainability-driven industries. The company is into making products like Copper Alloy Ingots and Billets, Brass Fittings, Brass Extrusion Roads, and Bath Fittings.

As of the latest half yearly result, Siyaram Recycling Industries Ltd saw a YoY revenue fall of 14 percent, going from Rs 246 Cr in H1FY25 to Rs 212 Cr in H1FY26. The YoY Net Profits also fell by 62 percent, going from Rs 8 Cr in H1FY25 to Rs 3 Cr in H1 FY26.

Additionally, the company has a 3 year sales CAGR of 7 percent, while the TTM is at 8 percent. The 3 year profit CAGR is at 66 percent, while the TTM is at negative 9 percent.

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