Jain Resource Recycling Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
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.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 44.9%
- Company has a healthy return on capital (ROCE) of 27.8%
- Attractively priced for its growth - PEG of 0.4
- 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 -0.64x)
- Equity base is being diluted - shares outstanding up 72.5%
- Total debt has risen sharply - up 53.8% year on year
- Stock is trading at 10.2x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDZINC | 606.00 | 15.00 | 256054.33 | 1.65 | 5469.00 | 144.81 | 13747.00 | 81.10 | 69.83 | 58.56 |
| HINDALCO | 1025.00 | 14.05 | 230340.72 | 0.49 | 7013.00 | 75.15 | 84825.00 | 32.06 | 10.45 | 16.43 |
| VEDL | 273.80 | 5.44 | 107066.43 | 12.42 | 7918.00 | 77.65 | 24205.00 | -35.34 | 18.72 | 35.12 |
| HINDCOPPER | 532.35 | 45.29 | 51479.52 | 0.54 | 352.37 | 162.47 | 936.50 | 81.36 | 39.44 | 54.17 |
| VOGL | 36.26 | 0.00 | 14179.07 | 0.00 | 9450.00 | — | 25070.00 | — | 0.00 | 32.47 |
| GRAVITA | 1697.80 | 31.97 | 12531.20 | 0.37 | 106.37 | 14.30 | 1475.06 | 41.84 | 17.18 | 7.44 |
| JAINREC | 295.70 | 28.27 | 10204.19 | 0.00 | 69.41 | 22.79 | 2724.46 | 75.86 | 25.74 | 3.97 |
| CMRGREEN | 217.30 | 22.41 | 4760.08 | 0.00 | 68.18 | — | 3122.73 | 91.98 | 13.41 | 4.33 |
| POCL | 467.00 | 24.98 | 3562.19 | 0.43 | 358.80 | 42.58 | 9348.90 | 55.08 | 23.32 | 5.97 |
| ARDEE | 53.39 | 19.87 | 1682.86 | 0.00 | 199.03 | — | 3388.11 | — | 49.04 | 9.90 |
| ONIXSOLAR | 454.20 | 27.85 | 1674.54 | 0.00 | 208.97 | — | 945.10 | — | 32.85 | 29.74 |
| BHAGYANGR | 409.40 | 21.82 | 1371.34 | 0.00 | 20.24 | 167.37 | 705.08 | 45.20 | 9.17 | 5.43 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1,343 | 1,724 | 1,639 | 1,470 | 2,055 | 2,676 | 3,030 | 2,641 | |
| 1,277 | 1,648 | 1,549 | 1,399 | 1,899 | 2,486 | 2,930 | 2,556 | |
| Operating Profit | 66 | 76 | 90 | 71 | 156 | 190 | 100 | 85 |
| OPM % | 4.93% | 4.41% | 5.52% | 4.81% | 7.60% | 7.09% | 3.30% | 3.21% |
| 28 | 8 | 11 | 9 | 7 | 9 | 12 | 13 | |
| Interest | 18 | 21 | 21 | 15 | 27 | 24 | 25 | 18 |
| Depreciation | 2 | 4 | 3 | 2 | 3 | 3 | 3 | 3 |
| Profit before Tax | 74 | 59 | 77 | 79 | 134 | 171 | 84 | 97 |
| Tax % | 25.81% | 29.77% | 26.93% | 25.49% | 26.37% | 25.74% | 25.81% | 25.29% |
| Net Profit | 55 | 42 | 56 | 59 | 99 | 127 | 62 | 73 |
| 1.74 | 1.33 | 1.81 | 1.83 | 3.05 | 3.68 | 1.80 | 2.11 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 2,850 | 1,867 | 4,157 | 6,143 | 9,231 | 10,403 | |
| 2,732 | 1,779 | 3,931 | 5,799 | 8,693 | 9,872 | |
| Operating Profit | 118 | 88 | 226 | 345 | 538 | 531 |
| OPM % | 4.14% | 4.72% | 5.44% | 5.61% | 5.83% | 5.10% |
| 31 | 22 | 45 | 40 | 37 | 41 | |
| Interest | 17 | 20 | 52 | 86 | 96 | 95 |
| Depreciation | 9 | 9 | 10 | 11 | 11 | 12 |
| Profit before Tax | 122 | 82 | 210 | 289 | 468 | 486 |
| Tax % | 29.13% | 25.61% | 23.86% | 26.92% | 25.89% | 25.84% |
| Net Profit | 87 | 61 | 160 | 211 | 347 | 360 |
| EPS | 2.60 | 15.04 | 38.89 | 6.53 | 10.05 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 70%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 79%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 57%
- 3 Years:
- 45%
- Last Year:
- 31%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 40 | 40 | 41 | 65 | 69 | |
| 46 | 117 | 303 | 644 | 1,474 | |
| 804 | 378 | 937 | 815 | 1,251 | |
| Trade Payables | 38 | 24 | 25 | 98 | 336 |
| 103 | 20 | 143 | 79 | 196 | |
| Total Liabilities | 1,031 | 579 | 1,449 | 1,702 | 3,325 |
| 54 | 24 | 56 | 65 | 81 | |
| Capital Work in Progress | 0 | 0 | 0 | 3 | 0 |
| 0 | 6 | 26 | 45 | 159 | |
| 342 | 161 | 498 | 626 | 1,403 | |
| 0 | 0 | 168 | 123 | 461 | |
| Cash & Bank | 216 | 70 | 281 | 210 | 216 |
| 418 | 318 | 420 | 629 | 1,005 | |
| Total Assets | 1,031 | 579 | 1,449 | 1,702 | 3,325 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 84 | 54 | 81 | 28 | -570 | |
| Cash from Investing | -147 | 41 | -113 | -10 | -185 |
| Cash from Financing | 89 | -92 | 107 | -77 | 804 |
| 0 | 0 | 75 | -59 | 48 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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 - Jain Resource Recycling Limited has informed the Exchange about the revision in Credit Rating by CRISIL Ratings Limited
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 - 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 - 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 - Jain Resource Recycling Limited has informed the Exchange about 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 - Jain Resource Recycling Limited has informed the Exchange about Change in Composition of Committee
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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