Namo eWaste Management Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 16 Jul 2026 | Other Utilities | Market Cap: ₹627 Cr

Namo eWaste targets a 40-50% CAGR growth trajectory in the coming years. Namo eWaste aims for a 40-50% CAGR growth trajectory over the next 3 years, driven by expanding e-waste and battery recycling operations (Page 4, 7).

From Namo eWaste Management Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹280

Market Cap

₹627 Cr

P/E Ratio

43.7

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📊 Revenue & Sales Performance

→Namo eWaste targets a 40-50% CAGR growth trajectory in the coming years.
→Expected revenue from Nasik lithium plant at 60% utilization is around ₹180-200 crore next year.
→Hyderabad plant, with 25,000 MT capacity, is expected to add ₹30-40 crore in revenue once operational.
→Current three facilities anticipated to grow 30-40% annually.
→By 2027, revenue split expected to be 40% from battery business and 60% from e-waste across four plants.
→EBITDA margins projected to improve to 13-15% over the next 2-3 years.
→Lithium-ion plant revenue share expected to increase from current ~6%.
→Expansion plans focus on sourcing raw material and operational efficiency rather than immediate capacity additions.
→Growth supported by evolving regulations and formalization of the sector driving demand for organized recyclers.

📈 Profitability & Margins

→Namo eWaste aims for a 40-50% CAGR growth trajectory over the next 3 years, driven by expanding e-waste and battery recycling operations (Page 4, 7).
→EBITDA margins expanded from 8% to 12% in H1 FY26, with a target to sustainably reach 13-15% through efficiency and quality work improvements (Page 18, 10).
→Battery segment margins estimated at 18-25%, e-waste margins at 15-18%, contributing to overall margin improvement (Page 10).
→EBITDA expected to improve as capacity utilization increases, especially in lithium-ion battery segment from Nasik and upcoming Hyderabad plant (Page 9, 18).
→PAT margin for battery business anticipated around 8-9% at optimized utilization; e-waste PAT expected to improve with scaling (Page 12).
→Revenue mix by 2027 projected at 40% battery and 60% e-waste (Page 12).
→No significant new CAPEX planned except technology upgrades for advanced extraction, estimated at $2-4 million (Page 7).

🏗️ Capital Expenditure Plans

→The company is evaluating various global tie-ups and joint ventures for new technologies, especially hydrometallurgy for critical minerals extraction from black mass.
→This new technology investment is expected to require a Capex of approximately $2 million to $4 million.
→No immediate additional capital expenditure is planned for capacity expansion aside from technology upgrades.
→Existing facility expansions can be accommodated via increased shifts and capacity utilization rather than new plants.
→Hyderabad e-waste plant construction is ongoing, targeted for completion by February-March FY26, and included in current expansion plans.
→No significant new CAPEX is expected for growth projected through the current capacity and operational improvements over the next 2-3 years.

💰 Fundraising & Capital Structure

→There is no explicit mention of any ongoing or upcoming fundraising through debt or equity in the transcript.
→The company raised working capital through an IPO earlier, which has helped reduce costs like logistics and finance.
→No direct plans for new equity or debt financing are stated.
→The company is exploring global tie-ups and possible joint ventures that might involve capital participation (e.g., 70-30 or 60-40), but no confirmed fundraising related to these is mentioned.
→For technology upgrades, a potential capex of $2M to $4M is indicated, but it's not specified how this will be financed.
→The focus is on improving operations and organic growth, with no current detailed fundraising plans disclosed.

📋 Order Book & Pipeline

The transcript from Namo eWaste Management Limited's H1 FY26 result conference call does not explicitly provide details on the current or expected order book or pending orders. However, related insights include: - The company is building strong sourcing relationships with OEMs to secure long-term raw material supply contracts, especially for lithium-ion batteries. - Multiple short-term and long-term agreements for battery procurement are in place, indicating a stable order flow. - The Hyderabad e-waste plant is under construction and expected to be operational by March FY26, which will contribute to increased capacity and order fulfillment. - The company has a diversified client base and is focusing on expanding its market share in formal e-waste recycling, with expected revenue growth driven by capacity expansions. - No specific quantification of current order book or pending orders was mentioned. If you need detailed order book figures, they might be available in company filings or investor reports outside this transcript.

Key Metrics

Frequently Asked Questions

What were Namo eWaste Management Ltd Q2 FY26 results?

What is Namo eWaste Management Ltd share price analysis?

Namo eWaste Management Ltd currently shows a neutral. The stock trades at a P/E of 43.7 with a market cap of ₹627 Cr. Investors should review the full earnings analysis for detailed insights.

Is Namo eWaste Management Ltd planning capital expenditure?

The company is evaluating various global tie-ups and joint ventures for new technologies, especially hydrometallurgy for critical minerals extraction from black mass.

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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.