Jain Resource Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Diversified Metals | Market Cap: ₹10.2K Cr
Jain Resource Recycling Limited expects revenue growth of around 20%-25% annually for FY '26 and FY '27, consistent with the 27% growth shown in H1 FY '26 and historical 4-5 years' performance. Revenue growth of 20%-25% expected for FY '26 and FY '27, continuing a consistent 4-5 year trend (Page 20).
From Jain Resource's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Price
₹288
Market Cap
₹10.2K Cr
P/E Ratio
28.0
How does Jain Resource rank in Diversified Metals?
Compare Jain Resource against every Diversified Metals company this quarter on revenue, margins and earnings-call signals.
Jain Resource — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹3.0K Cr, net profit ₹62 Cr.
Full financials →📊 Revenue & Sales Performance
- →Jain Resource Recycling Limited expects revenue growth of around 20%-25% annually for FY '26 and FY '27, consistent with the 27% growth shown in H1 FY '26 and historical 4-5 years' performance.
- →Volume growth has been strong, with lead segment sales up 30%-40% recently and copper segment also growing steadily.
- →The company plans incremental capacity expansions, typically adding 20% capacity once existing capacity utilization exceeds 80%, ensuring sustained volume growth.
- →New projects, including value-added copper products and JV ventures, are expected to further augment sales over the next couple of years.
- →The company is confident of no raw material shortage due to deep sourcing from over 120 countries and increased domestic sourcing, supporting steady volume growth.
- →Overall, a sustainable CAGR of ~20%-25% in sales and volumes is projected for the near future.
📈 Profitability & Margins
- →Revenue growth of 20%-25% expected for FY '26 and FY '27, continuing a consistent 4-5 year trend (Page 20).
- →EBITDA margins expected to sustain or improve due to zero-duty structure on lead and copper imports and new value-added plants (Pages 20, 12).
- →Finance cost projected to reduce by INR 20-22 crores annually due to IPO debt repayment and better working capital management (Page 21).
- →Lead segment capacity utilization currently at 100%, with plans to add 20% capacity yearly to support 30%-40% growth in lead sales (Page 19).
- →Copper EBITDA per ton expected to increase due to new copper cathode and wire rod plants commissioning around February FY '26 (Page 12).
- →Overall strong operational performance and growth backed by sourcing capabilities, export advantage, and strategic JV expansions (Pages 9-21).
🏗️ Capital Expenditure Plans
- →Continuous expansion in existing business with year-on-year capex of INR 20-30 crores.
- →Copper value-added products plant (Phase 1) with 9,000 tons per annum capacity, capex around INR 95 crores.
- →Follow-up expansion (Phase 2) of the copper plant with additional INR 50 crores capex to double capacity.
- →Ahmedabad JV with an estimated capex of INR 30 crores from Jain Resource Recycling side.
- →Advanced-stage studies for projects including tire recycling, solar panel recycling, and EV recycling with potential capex of around INR 100 crores over 2-3 years.
- →Asset-light model, with land and buildings on rent rather than owned assets.
- →Lead capacity expansion planned with incremental 20% capacity additions as utilization reaches 100%.
💰 Fundraising & Capital Structure
- →The company raised INR1,250 crores through IPO proceeds, part of which (around INR375 crores) was used to repay bank debt, reducing finance costs significantly.
- →No explicit mention of new fundraising through debt or equity in the near future.
- →Ongoing capex plans to the tune of INR20-30 crores per annum for continuous expansion and additional projects requiring approximately INR95 crores to INR100 crores over the next 2-3 years, but no specific funding method stated.
- →The company is pursuing asset-light models, leasing land and facilities rather than buying, which may reduce immediate capital requirements.
- →No direct commentary on fresh fundraising plans; internal accruals are expected to fund volume growth and capex.
📋 Order Book & Pipeline
- →Jain Resource Recycling Limited operates in a business where sourcing directly determines recycling and sales; there is no traditional order book but a purchase order book tied to sourcing capacity.
- →The company emphasizes deep sourcing capabilities across 120+ countries, including domestic and international sources, ensuring steady raw material supply.
- →There is no mention of a traditional pending order book; growth and operations depend on sourcing volume rather than fixed customer orders.
- →Management assures no supply chain challenges, with continuous growth of about 40% CAGR year-on-year.
- →Sourcing expansion and strategic partnerships (e.g., with C&Y in the US) reinforce their strong supply pipeline, enabling steady future production and sales scaling.
Key Metrics
Frequently Asked Questions
What were Jain Resource Q2 FY26 results?
Jain Resource Recycling Limited expects revenue growth of around 20%-25% annually for FY '26 and FY '27, consistent with the 27% growth shown in H1 FY '26 and historical 4-5 years' performance. Revenue growth of 20%-25% expected for FY '26 and FY '27, continuing a consistent 4-5 year trend (Page 20).
What is Jain Resource share price analysis?
Jain Resource currently shows a neutral. The stock trades at a P/E of 28.0 with a market cap of ₹10,209 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jain Resource planning capital expenditure?
Continuous expansion in existing business with year-on-year capex of INR 20-30 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.