Jain Resource Recycling Ltd Q3 FY26 Earnings Analysis
Published 15 Aug 2026 | Diversified Metals | Market Cap: ₹11.1K Cr
Price
₹293
Market Cap
₹11.1K Cr
P/E Ratio
30.6
Earnings Summary
Jain Resource Recycling Limited targets to maintain or exceed historical growth rates of 40%-50% year-on-year. Company targets to maintain or exceed historical revenue growth of 40%-50% year-on-year, with past growth at 60% in the last year and 38% by December 2025.
📊 Revenue & Sales Performance
- →Jain Resource Recycling Limited targets to maintain or exceed historical growth rates of 40%-50% year-on-year.
- →Last year they achieved 38% growth by December, surpassing their own 20% projected growth.
- →Growth is driven by new verticals and capacity expansions including:
- → - Commissioning of value-added product projects (copper anode, cathode, wire rod, busbar, profiles).
- → - Launch of Ahmedabad plant (US joint venture) with 25,000 tons capacity annually.
- → - Battery recycling plant in Kuwait starting November-December.
- →Strong focus on multi-commodity recycling with expansion into new metals increasing revenue streams.
- →The company is also exploring inorganic growth opportunities like acquisitions.
- →Overall, management is very confident in maintaining strong volume and revenue growth supported by global raw material sourcing and operational scalability.
📈 Profitability & Margins
- →Company targets to maintain or exceed historical revenue growth of 40%-50% year-on-year, with past growth at 60% in the last year and 38% by December 2025.
- →EBITDA margin expected to improve by up to 1% due to value-added product projects (copper value-added product and antimony project).
- →EBITDA per ton anticipated to rise from INR50-55k to around INR70-75k once value-added product plants start.
- →Profit after Tax (PAT) grew approximately 65% YoY for 9 months ending Dec 2025, with PAT margin improving from 3.7% to 4.4%.
- →Return on Equity (ROE) at around 30%, Return on Capital Employed (ROCE) expected to return to 25%-30% range once working capital cycle normalizes.
- →New verticals and expansions (Ahmedabad, Kuwait, cathode, wire rod, busbar plants) will add to growth and profitability starting FY27.
- →Continuous operational improvements and hedging practices to stabilize margins despite commodity price volatility.
🏗️ Capital Expenditure Plans
- →**Value-added product project (Jain Green Technologies Unit 3):**
- → - Total planned capex: ~INR 100 crores
- → - Spent till Dec 2025: INR 57 crores
- → - Additional INR 15 crores expected in the current financial year
- → - Remaining INR 30 crores to be spent next year
- → - Includes production of copper anode, cathode, wire rod, busbar, profiles, and coating
- → - Phase 1 commissioning starting June 2026
- →**Kuwait Joint Venture (Battery Recycling Project):**
- → - Planned capex: INR 7-8 crores next financial year
- → - Focus on battery recycling with raw material sent to India for lead ingot production
- →**Ahmedabad project (Joint venture with US company C&Y Holding):**
- → - Copper scrap recycling capacity of ~25,000 tons per annum
- → - To be commissioned by June 2026
- →**Strategic Investment:**
- → - 25% equity stake in M/s Abraj Al-Khaleej, Kuwait to support Middle East expansion
- →**Funding:**
- → - Phase 1 capex internally funded through accruals
💰 Fundraising & Capital Structure
- →No explicit mention of any current or future debt or equity fundraising plans in the transcript.
- →The company has utilized IPO proceeds (INR 500 crores primary issue) for debt repayment and general corporate purposes.
- →Bank limits that were repaid have been re-availed to support higher working capital requirements due to copper price increases.
- →The management emphasizes disciplined capital allocation and maintaining healthy leverage metrics.
- →No specific plans for new fundraising via debt or equity were discussed in the Q&A or closing remarks.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Jain Resource Recycling Ltd Q3 FY26 results?
Jain Resource Recycling Limited targets to maintain or exceed historical growth rates of 40%-50% year-on-year. Company targets to maintain or exceed historical revenue growth of 40%-50% year-on-year, with past growth at 60% in the last year and 38% by December 2025.
What is Jain Resource Recycling Ltd share price analysis?
Jain Resource Recycling Ltd currently shows a neutral. The stock trades at a P/E of 30.6 with a market cap of ₹11,131 Cr. Investors should review the full earnings analysis for detailed insights.
Is Jain Resource Recycling Ltd planning capital expenditure?
Value-added product project (Jain Green Technologies Unit 3):** - Total planned capex: ~INR 100 crores - Spent till Dec 2025: INR 57 crores - Additional INR 15 crores expected in the current fin
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.