A micro-cap recycling stock jumped by 3.56% on October 21, 2024, after receiving a purchase order value of USD 7,50,000 (approximately Rs. 6.3 crore) from Greenland Trading Private Limited, Hong Kong. The stock has given a multi-bagger return of 207.27% from the listing date.
Stock Movement:
Siyaram Recycling Industries Limited’s share has zoomed by 3.56%. The stock opened at Rs. 168.50 and is currently trading at Rs. 170.00, with a high of Rs. 174.90 and a low of ₹167.75. The market capitalization now stands at approximately Rs. 319.56 crore.
What Happened
Siyaram Recycling Industries Limited is receiving a purchase order for 125 tons of brass billet from M/s. Greenland Trading Private Limited, Hong Kong, for an amounting to approximately INR 6.3 crore (USD 7,50,000). The order of 125 tons of Brass Billets is associated with a time period of within 30 days.
Financials and ratios:
Siyaram Recycling Industries Limited’s revenue has decreased from Rs. 492 crore in FY23 to Rs. 413 crore in FY24, which is down by 16.06 percent. The net profit of the company has increased by 14.29 percent, from Rs. 7 crore in FY23 to Rs. 8 crore in FY24. Siyaram Recycling Industries Limited’s revenue and net profit have grown at a CAGR of 43.76 percent and 100 percent, respectively, over the last three years.
In terms of ratio, the company’s ROE and ROCE are 12.2% and 13.5%, respectively. The debt-to-equity ratio of Siyaram Recycling is 0.77x, and EPS will be Rs. 4.
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Shareholding Pattern:
Siyaram Recycling Industries Limited has a majority stake held by the promoters at 70.87 percent, domestic institutional investors at 1.68 percent, and the public at 27.46 percent as of September 2024.
Company Profile
Siyaram Recycling Industries Limited began its journey in 2007 as Siyaram Impex Private Limited in Gujarat. The company specializes in brass scrap segregation and manufacturing brass ingots, billets, and rods. The company also produces brass-based components, such as valves and sanitary parts, from its two manufacturing units in Jamnagar, Gujarat. It sources brass scrap internationally from the USA, UK, Europe, and the Middle East, for their operations.
The company serves customers across 18 Indian states and exports products to China, Germany, Belgium, and Oman through its three specialized units. The company’s client portfolio includes industry leaders like Astral Limited, Supreme Industries, and AGI Greenpac. The company’s manufacturing unit serves specific purposes, from scrap segregation to producing finished brass components.
Written By – Nikhil Naik
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