CMR Green Tech.Q1 FY27
CMR Green Tech. Q1 FY27 Earnings Call Analysis
Revenue, margin, capex, fundraise and order book outlook from management commentary.
Price: ₹218P/E: 21.1Market Cap: ₹4.7K CrSector: Industrial Products
Management growth scorecard
Revenue
Category 2
Margin
Category 3
Fundraise
N/A
Order
N/A
Capex
Yes
1 of 3 growth signals are positive — mixed outlook.
Full analysisRevenue guidance
Category 2- →FY26 volume grew by 25%, with similar growth expected in FY27.
- →FY28 also projected to witness good growth, though specific numbers are not provided.
- →Capacity expected to increase from about 605,000 metric tons currently to nearly 700,000 metric tons by FY27.
- →About 80% of capacity will be aluminum; 20% non-aluminum.
- →Revenue for FY26 grew 30% YoY to INR 8,640 crores, driven by volume growth and operational efficiency.
- →The auto sector, including EVs and two-wheelers, is a major growth driver with recorded 12-18% growth in early FY27.
- →Expansion into new sectors such as beverage can recycling and recycled green billets and sheet ingots supports future growth.
- →Management is considering adding a new plant to scale capacity further.
Margin guidance
Category 3- →EBITDA is expected to continuously improve due to new technologies and product innovations. (Page 16)
- →FY26 volume grew by 25%, with a similar growth expected in FY27; FY28 also anticipated to have good growth. (Page 8)
- →The company aims to maintain or exceed profitability levels through effective risk management and hedging amidst aluminum price volatility. (Page 16, 8)
- →Long-term growth driven by expanding capacities: capacity expected to increase from ~605,000 MT to nearly 700,000 MT by FY27, with 80% aluminum and 20% non-aluminum mix. (Page 8)
- →Consolidated FY26 EBITDA grew 50% YoY to INR 449 crores with a margin of 5.2%; PAT grew 47.3% YoY to INR 228 crores. (Page 7)
- →EBITDA per ton currently over INR 11,000, with targets to improve EBITDA through scale, technology, and diversification into higher value products. (Page 8)
- →Management commits to meeting/exceeding stakeholder expectations as a newly public company, indicating confidence in future profitability growth. (Page 16)
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Fundraise plans
- →In the earnings call transcript provided (up to July 2, 2026), there is no explicit mention of any plans for new fundraising through debt or equity by CMR Green Technologies Limited.
- →The company recently completed an IPO with a size of INR 630 crores via offer for sale, listed on both NSE and BSE.
- →For FY27, the company has planned capex of approximately INR 200 crores primarily for capacity expansion.
- →Management has not indicated any fundraising required to support this capex or future expansions.
- →The focus appears to be on organic growth through operational improvements and capacity additions without discussing fresh capital raising.
- →No clear guidance or announcement regarding upcoming debt or equity fundraising initiatives was mentioned during the call.
Order book
The transcript from the earnings call does not explicitly mention the current or expected order book or pending orders in quantifiable terms. However, relevant insights related to orders and demand include:
- CMR Green Technologies has very high repeat orders with customers, indicating a strong and sustainable order inflow.
- The company has a highly predictable and sustainable sales pipeline due to proximity and long-term relationships with OEMs and Tier 1 suppliers in the auto sector.
- The company is expanding capacities and expects continued strong growth in volumes, indicating a healthy demand pipeline.
- A 25% volume growth was seen in FY26, with similar growth expected in FY27, highlighting robust order demand.
- New sectors like beverage can recycling and billets & sheet ingots for construction and solar sectors suggest diversification and additional future order streams.
No precise numerical order book or pending order figures were disclosed.
Capex plans
Yes- →FY27 capex budgeted at approximately INR 200 crores.
- →Capacity to increase from about 6,05,000 metric tons currently to nearly 7 lakh metric tons by end of FY27.
- →Two new plants under construction: one at Future Mobility Park, Shoolagiri (Tamil Nadu) targeting electric vehicle parts and future mobility solutions; second plant at Bawal (Haryana) responding to customer demand.
- →Ongoing ramp-up of billet and sheet ingot capacity with potential to add new plants in this segment under evaluation.
- →Strategic diversification into non-aluminum metals with expectations to increase non-aluminum share from 20% to approximately 25%.
- →Focus on technology and product diversification, including alloys and value-added products, to improve EBITDA and expand market presence.
- →Signed MoU with Hindustan Zinc for a zinc alloy plant as part of non-aluminum expansion strategy.
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