JAINREC

Jain Resource Recycling share price & financials

Non-ferrous metal recycler converting copper, lead, aluminium and tin scrap into refined ingots and alloys since 1953.

Price: ₹328.8
Market cap: ₹10.6k Cr
Sector: Metals & Mining
Calls analysed: 4

Latest concall · Q1 FY27 · call held 04 Aug 2026

Jain Resource Recycling Limited Q1 FY27

Revenue from Operations ₹2,725 cr +76%EBITDA ₹110 cr +22%EBITDA Margin 4% PAT ₹69 cr +23%

What went well

Consolidated revenue from operations grew 76% YoY to Rs. 2,725 crores.
PAT increased 23% YoY to Rs. 69 crores.
Copper and copper products contributed 67% of consolidated revenue, up from 55% in FY26, reinforcing strategic shift.

What to watch

EBITDA margin moderated to 4% in Q1 FY27 from 5.8% in Q1 FY26, though improved from 3.5% in Q4 FY26.
PAT margin declined to 2.5% in Q1 FY27 from 3.6% in Q1 FY26.

Read the full call →

What Jain Resource Recycling Limited does

Jain Resource Recycling Limited recycles non-ferrous metal scrap — copper, lead, aluminium and tin — into refined ingots, alloys and value-added copper products such as anode, cathode, wire rod and busbar. It sources scrap and other raw material from a global supplier network and sells finished metal to customers in the electrical, automotive, battery, cable and chemicals industries, both domestically and via exports. The company is also building out a plastic-recycling line that converts scrap recovered from lead-acid batteries into PP/PVC granules. Its refined lead is registered as a brand with the London Metal Exchange under the name 'Jain 9997', with certain products also registered with MCX.

Segments

Copper & Copper Ingots
Lead & Lead Alloy Ingots
Aluminium & Aluminium Alloys

Recycling facilities: 5 facilities (plus 1 segregating facility at Hosur), spanning 45+ acres in Tamil Nadu
Combined installed production capacity: over 2.4 lakh MTPA across products
Lead & lead alloy ingot capacity: 1,84,000 MTPA
Copper & copper ingot capacity: 83,042 MTPA
Aluminium & aluminium alloy capacity: 35,994 MTPA
Employees: 475+

Founded 1953Headquarters Chennai, Tamil Nadu, India Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 1 delivered 7 missed 12 open

Revenue Growth delivered said Q2 FY26 Promised: 20-25% ongoing Q1 FY27: Q1 FY27 revenue grew 76% YoY, continuing to significantly exceed the 20-25% ongoing guidance.
Working Capital Cycle went quiet said Q2 FY26 Promised: 40-42 days by Feb 2026 Q1 FY27: This target for FY26 was missed and was not discussed in the current quarter.
Total Capex FY27 revised down said Q4 FY26 Promised: INR 115-120 crores Q1 FY27: The guided capex for FY27 was revised down to INR 87 crores from the previous guidance of INR 115-120 crores.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 70.5%, net profit up 28.1% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	1,343	1,724	1,639	1,549	2,055 +53%	2,676 +55%	3,030 +85%	2,641 +70%
Expenses	1,277	1,648	1,549	1,459	1,899	2,486	2,930	2,535
EBITDA	66	76	90	90	156 +136%	190 +150%	100 +11%	106 +18%
Margin	5%	4%	6%	6%	8%	7%	3%	4%
Other income	28	8	11	6	7	9	12	13
Interest	18	21	21	16	27	24	25	18
Depreciation	2	4	3	3	3	3	3	3
Profit before tax	74	59	77	77	134 +81%	171 +190%	84 +9%	97 +26%
Tax rate	26%	30%	27%	26%	26%	26%	26%	25%
Net profit	55	42	56	57	99 +80%	127 +202%	62 +11%	73 +28%
EPS	13.32	10.17	1.74	1.75	2.86	3.68	1.80	2.11

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −10.5% 1Y

1Y: ₹318.06 on 1 Oct 2025 → ₹284.7. High ₹571.5 (8 May 2026), low ₹276.8 (31 Aug 2026).

How the price took the results

close before → close after

Q1 FY27: −7.6%; 4 Aug
Q4 FY26: −18.1%; 18 May
Q3 FY26: −2.6%; 11 Feb
Q2 FY26: +3.9%; 23 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 51.6% a year over 1 year, FY25 to FY26. Operating margin widened to 5.8%.

Year ending	FY25	FY26
Revenue	₹6.1k Cr	₹9.3k Cr
Operating profit	₹303 Cr	₹536 Cr
Operating margin	4.9%	5.8%
Interest	₹79 Cr	₹92 Cr
Depreciation	₹11 Cr	₹12 Cr
Net profit	₹211 Cr	₹345 Cr
Net margin	3.4%	3.7%
Cash from operations	₹28 Cr	₹-570 Cr
Free cash flow	₹9 Cr	₹-598 Cr
ROCE	27.0%	26.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY22	FY23	FY24	FY25	FY26
Equity capital	₹40 Cr	₹40 Cr	₹41 Cr	₹69 Cr	₹69 Cr
Reserves	₹28 Cr	₹117 Cr	₹324 Cr	₹1.3k Cr	₹1.5k Cr
Borrowings	₹426 Cr	₹380 Cr	₹845 Cr	₹1.3k Cr	₹1.3k Cr
Other liabilities	₹50 Cr	₹42 Cr	₹239 Cr	₹1.6k Cr	₹530 Cr
Total liabilities	₹544 Cr	₹579 Cr	₹1.4k Cr	₹4.3k Cr	₹3.3k Cr
Fixed assets	₹28 Cr	₹24 Cr	₹56 Cr	₹93 Cr	₹81 Cr
Capital work in progress	₹0 Cr	₹0 Cr	₹0 Cr	₹6 Cr	₹0 Cr
Investments	₹0 Cr	₹6 Cr	₹26 Cr	₹4 Cr	₹159 Cr
Other assets	₹516 Cr	₹549 Cr	₹1.4k Cr	₹4.2k Cr	₹3.1k Cr
Total assets	₹544 Cr	₹579 Cr	₹1.4k Cr	₹4.3k Cr	₹3.3k Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Sep 2025, FIIs trimmed −5.19 pp while DIIs added +3.25 pp.

Promoters: 73.6%
FIIs: 1.2%
DIIs: 9.7%
Government: 0.1%
Public: 15.4%

Since Sep 2025

FIIs −5.19 pp
DIIs +3.25 pp
Public +1.89 pp

How it drifted, 4 quarters

Over this window FIIs fell from 6.4% to 1.2% — −5.2 pp.

Sep '25Dec '25Jun '26

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Motilal Oswal Long Term Equity Fund Mutual fund newly disclosed 5.41% held
Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund newly disclosed 1.03% held

The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Jain Resource Recycling Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Kamlesh Jain	65.87%	unchanged
Jain Family Trust (Trustee Mr. Kamlesh Jain)	7.21%	unchanged
Motilal Oswal Long Term Equity Fund Mutual fund	5.41%	newly disclosed
Shanthilal Jain	4.54%	unchanged
Mayank Pareek	1.38%	unchanged
Bengal Finance And Investment Pvt Ltd	1.05%	−0.09 pp
Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund	1.03%	newly disclosed
Jain Geetha	0.51%	unchanged
Eshcube Properties	0.00%	unchanged
Metal Impex	0.00%	unchanged
KSJ Infrastructure Private Limited	0.00%	unchanged
Metalika Industries	0.00%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in JAINREC

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.02 L shares (+1.0%).

Held by funds: ₹6 Cr; 5 schemes
Biggest holder: Nippon India Nifty Smallcap 250 Index Fund; ₹3 Cr · 0.1% of that fund

Scheme	Holding	Last month	Held since
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund	₹3 Cr	+0.01 L	Mar '26
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund	₹2 Cr	+0.01 L	Mar '26
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund	₹1 Cr	+0.00 L	Mar '26
SBI Nifty 500 Index Fund SBI Mutual Fund	₹0 Cr	−0.00 L	Mar '26
SBI Nifty Small Cap 250 ETF SBI Mutual Fund	₹0 Cr	+0.00 L	May '26

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +2,033 shares (+1.0%)

Funds are sitting on: -22%; vs est. average cost
Held by funds: ₹6 Cr; 5 schemes · ≈ 0.06% of the company
Biggest holder: Nippon India Nifty Smallcap 250 Index Fund; ₹3 Cr · 0.1% of that fund

Shares held by these funds −92%

Sep '25 2.03 L shares Jul '26

All earnings calls (4)

Read the Q1 FY27 call →

Learn to analyse Jain Resource Recycling Limited

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