Jain Resource Recycling Ltd.

•

jainmetalgroup.comBSE: 544537NSE: JAINREC

Market Cap₹ 10,204 Cr.

Current Price

High / Low₹ 594 / 248

Stock P/E28.3

Book Value₹ 47

Price to Book10.20

Dividend Yield0.00 %

ROCE26.1 %

ROE30.8 %

Face Value₹ 2

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ABOUT

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%

View full sector analysis →

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

Metals & MiningNon - Ferrous MetalsMetal - Non Ferrous

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	HINDZINC	606.00	15.00	256054.33	1.65	5469.00	144.81	13747.00	81.10	69.83	58.56
2.	HINDALCO	1025.00	14.05	230340.72	0.49	7013.00	75.15	84825.00	32.06	10.45	16.43
3.	VEDL	273.80	5.44	107066.43	12.42	7918.00	77.65	24205.00	-35.34	18.72	35.12
4.	HINDCOPPER	532.35	45.29	51479.52	0.54	352.37	162.47	936.50	81.36	39.44	54.17
5.	VOGL	36.26	0.00	14179.07	0.00	9450.00	—	25070.00	—	0.00	32.47
6.	GRAVITA	1697.80	31.97	12531.20	0.37	106.37	14.30	1475.06	41.84	17.18	7.44
7.	JAINREC	295.70	28.27	10204.19	0.00	69.41	22.79	2724.46	75.86	25.74	3.97
8.	CMRGREEN	217.30	22.41	4760.08	0.00	68.18	—	3122.73	91.98	13.41	4.33
9.	POCL	467.00	24.98	3562.19	0.43	358.80	42.58	9348.90	55.08	23.32	5.97
10.	ARDEE	53.39	19.87	1682.86	0.00	199.03	—	3388.11	—	49.04	9.90
11.	ONIXSOLAR	454.20	27.85	1674.54	0.00	208.97	—	945.10	—	32.85	29.74
12.	BHAGYANGR	409.40	21.82	1371.34	0.00	20.24	167.37	705.08	45.20	9.17	5.43

Detailed Comparison with:

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

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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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

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

156

190

100

OPM %

4.93%

4.41%

5.52%

4.81%

7.60%

7.09%

3.30%

3.21%

Interest

Depreciation

Profit before Tax

134

171

Tax %

25.81%

29.77%

26.93%

25.49%

26.37%

25.74%

25.81%

25.29%

Net Profit

127

1.74

1.33

1.81

1.83

3.05

3.68

1.80

2.11

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

226

345

538

531

OPM %

4.14%

4.72%

5.44%

5.61%

5.83%

5.10%

Interest

Depreciation

Profit before Tax

122

210

289

468

486

Tax %

29.13%

25.61%

23.86%

26.92%

25.89%

25.84%

Net Profit

160

211

347

360

EPS

2.60

15.04

38.89

6.53

10.05

—

Dividend Payout %

0.00%

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

117

303

644

1,474

804

378

937

815

1,251

Trade Payables

336

103

143

196

Total Liabilities

1,031

579

1,449

1,702

3,325

Capital Work in Progress

159

342

161

498

626

1,403

168

123

461

Cash & Bank

216

281

210

216

418

318

420

629

1,005

Total Assets

1,031

579

1,449

1,702

3,325

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-570

Cash from Investing

-147

-113

-10

-185

Cash from Financing

-92

107

-77

804

-59

Mar 2022

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