Jain Resource Recycling Ltd.

•

jainmetalgroup.comBSE: 544537NSE: JAINREC

Market Cap₹ 9,825 Cr.

Current Price

High / Low₹ 594 / 248

Stock P/E27.2

Book Value₹ 47

Price to Book10.08

Dividend Yield0.00 %

ROCE25.7 %

ROE30.8 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Copper & Copper Ingots: 55.1% • Lead & Lead Alloy Ingots: 40.0% • Aluminium & Aluminium Alloys: 3.9%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

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PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 44.8%
Company has a healthy return on capital (ROCE) of 25.7%
Attractively priced for its growth - PEG of 0.5
Company converts assets efficiently - asset turnover of 3.7x

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.75x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 72.5%
Total debt has risen sharply - up 38.2% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningNon - Ferrous MetalsMetal - Non Ferrous

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	HINDZINC	576.05	14.26	243399.50	1.74	5469.00	144.81	13747.00	81.10	69.83	58.56
2.	HINDALCO	981.90	13.45	220655.17	0.51	7013.00	75.15	84825.00	32.06	10.45	16.43
3.	VEDL	264.35	5.25	103371.11	12.86	7918.00	77.65	24205.00	-35.34	18.72	35.12
4.	HINDCOPPER	514.35	43.76	49738.88	0.56	352.37	162.47	936.50	81.36	39.44	54.17
5.	VOGL	36.76	0.00	14374.59	0.00	9450.00	—	25070.00	—	0.00	32.47
6.	GRAVITA	1667.00	31.39	12303.87	0.38	106.37	14.30	1475.06	41.84	17.18	7.44
7.	JAINREC	284.70	27.22	9824.59	0.00	69.41	22.79	2724.46	75.86	25.74	3.97
8.	CMRGREEN	216.55	22.33	4743.65	0.00	68.18	—	3122.73	91.98	13.41	4.33
9.	POCL	454.50	24.31	3466.84	0.44	358.80	42.58	9348.90	55.08	23.32	5.97
10.	ONIXSOLAR	437.95	26.86	1614.63	0.00	208.97	—	945.10	—	32.85	29.74
11.	ARDEE	50.87	18.93	1603.43	0.00	199.03	—	3388.11	—	49.04	9.90
12.	BHAGYANGR	422.90	22.54	1416.56	0.00	20.24	167.37	705.08	45.20	9.17	5.43

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,496	1,392	1,781	1,760	1,549	2,114	2,775	3,105	2,724
	1,402	1,304	1,691	1,667	1,459	1,954	2,576	2,995	2,638
Operating Profit	94	88	89	93	90	160	199	110	86
OPM %	6.31%	6.31%	5.02%	5.31%	5.81%	7.57%	7.17%	3.54%	3.17%
	11	10	6	10	7	6	5	10	9
Interest	21	19	21	23	16	27	26	26	19
Depreciation	3	3	4	4	3	3	4	4	4
Profit before Tax	81	75	71	77	78	135	175	89	94
Tax %	25.84%	25.84%	26.50%	29.06%	26.04%	26.56%	25.72%	25.51%	26.05%
Net Profit	0	0	0	0	57	99	126	66	69
	1.92	1.78	1.65	1.74	1.78	3.06	3.75	1.91	2.02

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,064	4,428	6,429	9,543	10,718
	2,937	4,198	6,059	8,980	10,163
Operating Profit	127	230	371	563	555
OPM %	4.15%	5.19%	5.77%	5.90%	5.18%
	43	56	36	28	30
Interest	34	56	89	100	98
Depreciation	14	16	14	15	16
Profit before Tax	124	215	303	476	493
Tax %	25.73%	23.66%	26.82%	26.02%	25.97%
Net Profit	92	164	222	352	365
EPS	2.65	39.93	6.93	10.11	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 46%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 56%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 45%
Last Year:: 31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	40	41	65	69
Minority Interest	2	0	-1	-3
	138	307	661	1,492
	857	1,004	926	1,274
Trade Payables	33	27	104	340
	46	150	82	210
Total Liabilities	1,116	1,529	1,836	3,382
	74	79	89	114
Capital Work in Progress	0	0	3	45
	0	16	36	149
	342	550	675	1,477
	0	183	129	476
Cash & Bank	146	300	248	239
	554	399	655	881
Total Assets	1,116	1,529	1,836	3,382

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	44	33	4	-602
Cash from Investing	-9	-93	-26	-79
Cash from Financing	3	136	-35	716
	5	76	-58	46

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.59	73.59	73.59	73.59
	6.42	3.70	3.02	1.23
	6.43	8.58	10.04	9.68
Government	0.00	0.00	0.00	0.00
	13.56	13.99	13.28	15.45

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-28

Shareholders meeting

2026-08-28 - Jain Resource Recycling Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-28

Credit Rating- Revision

2026-08-28 - Jain Resource Recycling Limited has informed the Exchange about the revision in Credit Rating by CRISIL Ratings Limited

2026-08-27

Shareholders meeting

2026-08-27 - Jain Resource Recycling Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 27, 2026

2026-08-26

Agreements

2026-08-26 - Jain Resource Recycling Limited has informed the Exchange about execution of Loan Conversion agreement with Jain Ikon Global Ventures FZC, Subsidiary of the Company

2026-08-26

General Updates

2026-08-26 - Jain Resource Recycling Limited has informed the Exchange about Acquisition of Equity shares of Jain Ikon Global Ventures FZC, Subsidiary of the Company pursuant to Loan Conversion Agreement

2026-08-22

Resignation of Director/KMP/SMP

2026-08-22 - Jain Resource Recycling Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-22

Resignation of Director/KMP/SMP

2026-08-22 - Jain Resource Recycling Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-22

General Updates

2026-08-22 - Jain Resource Recycling Limited has informed the Exchange about Change in Composition of Committee

2026-08-22

Appointment

2026-08-22 - Jain Resource Recycling Limited has informed the Exchange regarding Appointment of Mr Prakash Kumar Behera as Independent Director of the company w.e.f. August 22, 2026.

News

Recent coverage and analyst commentary for JAINREC

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Jain Resource Recycling Ltd.

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Free 5nance Account

Name

HINDZINC

576.05

14.26

243399.50

1.74

5469.00

144.81

13747.00

81.10

69.83

58.56

HINDALCO

981.90

13.45

220655.17

0.51

7013.00

75.15

84825.00

32.06

10.45

16.43

VEDL

264.35

5.25

103371.11

12.86

7918.00

77.65

24205.00

-35.34

18.72

35.12

HINDCOPPER

514.35

43.76

49738.88

0.56

352.37

162.47

936.50

81.36

39.44

54.17

VOGL

36.76

0.00

14374.59

0.00

9450.00

—

25070.00

—

0.00

32.47

GRAVITA

1667.00

31.39

12303.87

0.38

106.37

14.30

1475.06

41.84

17.18

7.44

JAINREC

284.70

27.22

9824.59

0.00

69.41

22.79

2724.46

75.86

25.74

3.97

CMRGREEN

216.55

22.33

4743.65

0.00

68.18

—

3122.73

91.98

13.41

4.33

POCL

454.50

24.31

3466.84

0.44

358.80

42.58

9348.90

55.08

23.32

5.97

ONIXSOLAR

437.95

26.86

1614.63

0.00

208.97

—

945.10

—

32.85

29.74

ARDEE

50.87

18.93

1603.43

0.00

199.03

—

3388.11

—

49.04

9.90

BHAGYANGR

422.90

22.54

1416.56

0.00

20.24

167.37

705.08

45.20

9.17

5.43

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,496

1,392

1,781

1,760

1,549

2,114

2,775

3,105

2,724

1,402

1,304

1,691

1,667

1,459

1,954

2,576

2,995

2,638

Operating Profit

160

199

110

OPM %

6.31%

5.02%

5.31%

5.81%

7.57%

7.17%

3.54%

3.17%

Interest

Depreciation

Profit before Tax

135

175

Tax %

25.84%

26.50%

29.06%

26.04%

26.56%

25.72%

25.51%

26.05%

Net Profit

126

1.92

1.78

1.65

1.74

1.78

3.06

3.75

1.91

2.02

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

3,064

4,428

6,429

9,543

10,718

2,937

4,198

6,059

8,980

10,163

Operating Profit

127

230

371

563

555

OPM %

4.15%

5.19%

5.77%

5.90%

5.18%

Interest

100

Depreciation

Profit before Tax

124

215

303

476

493

Tax %

25.73%

23.66%

26.82%

26.02%

25.97%

Net Profit

164

222

352

365

EPS

2.65

39.93

6.93

10.11

—

Dividend Payout %

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-1

-3

138

307

661

1,492

857

1,004

926

1,274

Trade Payables

104

340

150

210

Total Liabilities

1,116

1,529

1,836

3,382

114

Capital Work in Progress

149

342

550

675

1,477

183

129

476

Cash & Bank

146

300

248

239

554

399

655

881

Total Assets

1,116

1,529

1,836

3,382

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-602

Cash from Investing

-9

-93

-26

-79

Cash from Financing

136

-35

716

-58

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2025

Dec 2025

Mar 2026

Jun 2026

73.59

6.42

3.70

3.02

1.23

6.43

8.58

10.04

9.68

Government

0.00

13.56

13.99

13.28

15.45

Jain Resource Recycling Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Jain Resource Recycling Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI