Siyaram Recycling Industries share price & results
- Mar 2026
- Mar 2026
Jamnagar-based recycler and manufacturer of brass ingots, billets and rods, and brass plumbing/sanitary components made from segregated brass scrap.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 150 | −43.6% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 5.0 | +0.1 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1.0 | −85.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | −11.6 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -7.77 | +1.2 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | −52.9 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −63.3% 1Y
1Y: ₹99.5 on 14 Oct 2025 → ₹36.5. High ₹100 (20 Oct 2025), low ₹32.57 (30 Mar 2026).
- Previous close
- ₹34.01
- Market cap
- ₹83 Cr
- 52-week range
- ₹32.57 – ₹100
- One year
- −63.13%
- Price to earnings (FY ending Mar 2026)
- 20.83×
- Return on equity (FY ending Mar 2026)
- 3.11%
Overview
- Symbol
- NSE:SIYARAM
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Siyaram Recycling Industries Limited does
Based on the company's own presentations, annual report and earnings calls.
Siyaram Recycling Industries is engaged in segregating brass scrap and manufacturing brass ingots, billets and rods, which are further processed into brass-based components such as inserts, ceramic cartridges (spindles), valves and extension nipples used in plumbing and sanitary fittings. The company sources brass scrap internationally, including from the USA, Europe and the Middle East, and sells its brass ingots, billets, rods and finished components in both domestic and international markets.
Segments
- Brass scrap segregation
- Brass ingots, billets & rods
- Brass-based components
- Business lines
- 3 (scrap segregation, ingot/billet/rod manufacturing, brass component manufacturing)
- Brass component types manufactured
- Inserts, ceramic cartridges (spindles), valves, extension nipples
- International scrap sourcing regions
- USA, Europe, Middle East
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −86% (quarter to mar 2026 against mar 2025).
| Line item | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 275 | 215 | 198 | 246 | 266 | 212 | 150 |
| Expenses | 270 | 205 | 191 | 231 | 253 | 202 | 142 |
| Operating profit | 5 | 10 | 7 | 14 | 13 | 9 | 8 |
| Operating margin | 1.8% | 4.6% | 3.6% | 6.0% | 4.9% | 4.5% | 5.0% |
| Other income | 3 | 0 | 1 | 1 | 2 | 1 | 0 |
| Interest | 3 | 3 | 4 | 4 | 4 | 4 | 6 |
| Depreciation | 2 | 1 | 0 | 1 | 0 | 1 | 1 |
| Profit before tax | 3 | 6 | 4 | 10 | 10 | 5 | 1 |
| Tax rate | 147.0% | 25.0% | 27.0% | 25.0% | 32.0% | 35.0% | 30.0% |
| Net profit | -1 | 4 | 3 | 8 | 7 | 3 | 1 |
| EPS (₹ per share) | -1.02 | 3.08 | 1.74 | 4.09 | 3.16 | 1.41 | 0.33 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 14 | 14 | 19 | 22 | 22 | 22 |
| Reserves | 25 | 32 | 58 | 105 | 108 | 108 |
| Borrowings | 28 | 67 | 59 | 76 | 107 | 114 |
| Other liabilities | 32 | 38 | 34 | 80 | 53 | 30 |
| Total liabilities | 99 | 151 | 170 | 283 | 290 | 274 |
| Fixed assets | 8 | 7 | 6 | 8 | 7 | 6 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 91 | 144 | 164 | 276 | 283 | 268 |
| Total assets | 99 | 151 | 170 | 283 | 290 | 274 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 7 | 11 | -35 | -4 | -43 | -28 |
| Cash from investing | -2 | -2 | -1 | -1 | -3 | 0 |
| Cash from financing | -6 | -6 | 34 | 5 | 45 | 29 |
| Net cash flow | -1 | 2 | -1 | 0 | -1 | 0 |
| Free cash flow | 5 | 8 | -36 | -5 | -46 | -28 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 112 | 29 | 26 | 26 | 36 | 55 |
| Inventory days | 119 | 48 | 63 | 117 | 161 | 226 |
| Days payable | 86 | 26 | 22 | 17 | 30 | 26 |
| Cash conversion cycle | 145 | 50 | 66 | 125 | 167 | 255 |
| Working capital days | 114 | 27 | 31 | 59 | 86 | 136 |
| Return on capital employed | — | 11.0% | 16.0% | 14.0% | 17.0% | 7.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 51.12% as of Mar 2026; institutions cut 0.77 pts since Sept 2025.
- Promoters 51.12%
- Foreign institutions 0.00%
- Domestic institutions 0.06%
- Public 48.83%
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ramgopal Ochhavlal Maheshwari +0.33 pp 2.71% held
- Bhavesh Ramgopal Maheshwari +0.07 pp 1.03% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Siyaram Recycling Industries Limited above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Dwarkadhish Venture Private Limited | 46.90% | −8.14 pp |
| Mukul Mahavir Agrawal | 9.64% | −0.46 pp |
| Ramgopal Ochhavlal Maheshwari | 2.71% | +0.33 pp |
| Bhavesh Ramgopal Maheshwari | 1.03% | +0.07 pp |
| Value Prolific Consulting Services Pvt Ltd | 1.01% | unchanged |
| Madhuben Ramgopal Maheshwari | 0.21% | unchanged |
| Megha Bhavesh Maheshwari | 0.18% | unchanged |
| Market Maker Unclassified | 0.06% | unchanged |
| Maheshwari Ramgopal Ochha Vlal . | 0.05% | unchanged |
| Bhavesh Ramgopal Maheshwari (Huf) . | 0.05% | 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.
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