Nupur Recyclers Ltd.

•

nupurrecyclers.comBSE: -NSE: NRL

Market Cap₹ 843 Cr.

Current Price

High / Low₹ 125 / 45

Stock P/E90.0

Book Value₹ 18

Price to Book4.56

Dividend Yield0.00 %

ROCE10.3 %

ROE8.1 %

Face Value₹ 10

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AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

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PROS

Company is almost debt free
Latest quarter profit grew 110.0% YoY, showing strong momentum
Company has delivered good sales growth of 59.3% CAGR over last 5 years

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (61.1% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.85x)
Working capital days have increased from 72 to 142 days
Free cash flow has been persistently negative

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

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIENT	2894.80	52.64	391875.62	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	999.50	27.25	45372.45	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	CPPLUS	3715.75	92.10	43957.48	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	AEGISLOG	1242.80	34.86	43622.28	0.70	544.84	210.70	2356.86	37.07	19.76	30.28
5.	REDINGTON	363.00	16.68	28378.41	1.65	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.45	61.63	15337.81	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	70.95	96.45	10830.89	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	825.65	83.70	10406.10	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	62.14	20.84	9321.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1799.70	62.46	7832.85	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	346.70	24.48	7658.08	0.43	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	NRL	122.00	49.12	842.64	0.00	7.39	82.64	79.34	55.61	20.73	11.55

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	18	44	74	44	34	40	30	30	28	32	43	32	39
	18	43	72	44	32	38	30	30	27	31	41	32	38
Operating Profit	1	1	2	1	2	1	0	0	1	1	2	1	1
OPM %	3.27%	2.27%	2.54%	1.26%	6.60%	2.83%	1.35%	0.47%	1.94%	3.22%	5.14%	1.85%	3.68%
Other Income	2	2	6	2	2	2	2	1	1	2	1	2	2
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	2	3	8	2	4	3	2	1	2	3	4	3	3
Tax %	26.44%	26.17%	27.02%	29.00%	25.56%	33.33%	26.37%	27.37%	26.00%	19.24%	32.20%	25.54%	25.88%
Net Profit	2	2	6	1	3	2	1	1	1	3	2	2	2
	0	0	1	0	0	0	0	0	0	0	0	0	0
Equity Capital	46	46	46	69	69	69	69	69	69	69	69	69	69
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1	13	104	159	99	181	134	147
	1	13	90	135	92	177	130	142
Operating Profit	0	0	15	27	14	10	10	—
OPM %	2	3	14	17	14	6	7	—
Other Income	0	0	1	3	7	6	6	8
Interest	0	0	1	1	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0
	0	0	13	26	13	14	10	13
Tax %	29	27	25	27	30	27	28	26
Net Profit	0	0	10	19	9	11	7	9
EPS	0	0	6	4	1	2	1	—
Dividend Payout %	0	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0
Adjusted EPS	0	0	2	3	1	2	1	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 59%
3 Years:: -6%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 192%
3 Years:: -28%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 24%
1 Year:: 73%

RETURN ON EQUITY

10 Years:: —
5 Years:: 57%
3 Years:: 12%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-
Equity Capital	0	0	0	23	46	69	69
	0	0	10	42	24	17	22
	3	2	6	2	0	0	0
Trade Payables	0	0	0	0	1	0	0
	0	7	9	8	2	9	21
Total Liabilities	3	9	25	75	73	95	112
ASSETS	-	-	-	-	-	-	-
	0	0	0	0	0	0	1
	0	0	12	11	12	41	53
	1	2	3	9	18	9	3
	0	0	0	0	0	10	35
Cash & Bank	0	0	0	32	2	1	1
	2	8	10	23	41	34	19
Total Assets	3	9	25	75	73	95	112
Total Debt	3	2	6	2	0	0	0
Net Working Capital	0	0	-0	44	50	36	52
Contingent Liabilities	0	0	0	0	2	1	1
Book Value per Share	21.20	54.00	10059.90	28.17	15.30	12.09	13.12
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	0	10	13	-16	17	-23
Cash from Investing	0	-0	-12	-20	-3	-17	5
Cash from Financing	0	-1	2	29	-2	-1	18
	0	-0	0	23	-21	-1	0
Free Cash Flow	0	0	9	13	-16	17	-24
OCF / Net Profit	0.00	15.13	0.95	0.71	-1.72	1.57	-3.34
Cumulative 5-Year FCF	0	0	0	0	0	24	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	11.20	32.80	10004.90	8.19	2.04	1.54	1.02
Book Value (₹)	21.20	54.00	10059.90	28.17	15.30	12.09	13.12
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.01	0.01	0.00	2.73	1.37	1.54	1.03
PROFITABILITY
Operating Margin %	1.75%	2.66%	14.25%	16.66%	13.83%	2.25%	2.93%
Net Margin %	1.23%	0.25%	9.63%	11.78%	9.45%	5.83%	5.24%
ROE %	52.83%	87.23%	197.84%	50.26%	13.90%	13.79%	8.12%
ROCE %	0.57%	12.92%	157.24%	63.80%	19.88%	19.22%	10.29%
	0.39%	0.54%	57.85%	37.28%	12.57%	12.49%	6.77%
EFFICIENCY
Debtor Days	289	53	15	12	32	22	61
Inventory Days	448	39	8	13	49	27	17
Payable Days	41	1	0	1	2	1	1
	696	90	22	25	78	47	77
FINANCIAL HEALTH
Debt to Equity (x)	128.39x	46.21x	0.62x	0.03x	0.00x	0.00x	0.00x
Interest Coverage (x)	0.00x	1.15x	10.83x	28.71x	42.47x	51.80x	125.71x
	1.00x	1.00x	0.99x	5.39x	20.16x	5.38x	25.28x
GROWTH
Revenue Growth %	0.00%	1341.88%	694.83%	53.03%	-37.85%	82.93%	-25.87%
Operating Profit Growth %	0.00%	2090.57%	4152.31%	78.93%	-48.41%	-26.25%	-1.86%
Net Profit Growth %	0.00%	192.86%	0.00%	87.19%	-50.11%	12.90%	-33.45%
	0.00%	0.00%	0.00%	0.00%	0.00%	-24.73%	-33.45%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	59.01x	58.46x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	7.50x	4.56x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	61.62x	41.35x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.53	72.54	72.54	72.79	72.79	73.02	73.02	73.13	73.60
	0.00	0.01	0.01	0.03	0.07	0.07	0.06	0.00	0.41
	0.29	0.29	0.29	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.18	27.17	27.16	27.17	27.14	26.91	26.92	26.87	25.99

Documents

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

2026-09-03

Outcome of Board Meeting

2026-09-03 - NRL: Nupur Recyclers Limited has informed the Exchange regarding the Outcome of the Board Meeting held on September 03, 2026, inter alia, regarding the appointment of an Additional Non-Executive Independent Director of the Company.

2026-09-03

Outcome of Board Meeting

2026-09-03 - NRL: Nupur Recyclers Limited has informed the Exchange regarding the Outcome of the Board Meeting held on September 03, 2026, inter alia, regarding the Appointment of Cost Auditor and re-appointment of Internal Auditor of the Company for the Financial Year 2026 27.

2026-09-03

Appointment

2026-09-03 - Nupur Recyclers Limited has informed the Exchange regarding Appointment of Mr. Dinesh Kumar as Additional Non- Executive Independent Director of the company w.e.f. September 03, 2026.

2026-08-29

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-29 - Nupur Recyclers Limited has informed the Exchange about Transcript

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Nupur Recyclers Limited has informed the Exchange about Link of Recording

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Nupur Recyclers Limited has informed the Exchange about Schedule of meet

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Nupur Recyclers Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Press Release

2026-08-12 - Nupur Recyclers Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Q1 FY 2026-27 EARNINGS PRESS RELEASE".

2026-08-12

Outcome of Board Meeting

2026-08-12 - Nupur Recyclers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

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