Jain Resource Recycling

Jain Resource Recycling Limited held its first earnings conference call following its successful listing on NSE and BSE on October 1, 2025, after raising INR 1,250 crores through IPO. The company reported strong quarterly results with revenue from operations reaching INR 2,114 crores compared to INR 1,392 crores in Q2 FY25, reflecting 52% year-on-year growth. EBITDA stood at INR 160 crores versus INR 88 crores in the previous year, showing 82% growth with margins at 7.6%. Profit for the period was INR 99 crores compared to INR 53 crores, representing 88% growth with PAT margins at 4.7%. For the first half of FY26, revenue reached INR 3,663 crores compared to INR 2,889 crores in H1 FY25, marking 27% growth. The company operates across five product verticals with copper contributing 46% of revenue, lead 48%, aluminum 4%, and others 2%. Export markets account for 63% of revenue while domestic sales contribute 37%. The company announced a joint venture with Texas-based CNY Group for a INR 60 crores copper scrap recycling plant in Ahmedabad, and is developing a copper cathode manufacturing facility with Phase 1 capex of INR 95 crores expected to commence operations in Q1 FY27. Management highlighted their global sourcing network spanning 120+ countries and strong market positions with 8.6% market share in lead and 3.4% in copper recycling in India.

Investor Ashish Kacholia's investment in Jain Resource Recycling has generated approximately 214% returns since March 2025. Through Bengal Finance & Investments, Kacholia invested Rs 50 crore in March, purchasing 7,83,375 shares at Rs 638.28 per share. A 1:5 stock split in March increased his holding to 39,16,875 shares with an adjusted cost of Rs 126.75 per share. The company listed on October 1 at a 14% premium to its issue price of Rs 232, closing at Rs 318 on debut day and reaching around Rs 400 by October 24. This values Kacholia's stake at nearly Rs 157 crore, representing about 1.1% ownership. The stock gained momentum following strong quarterly results showing 88% year-on-year net profit growth to Rs 98.6 crore and 52% revenue growth to Rs 2,113.7 crore. EBITDA increased 82% to Rs 160 crore with operating margins improving to 7.6%. Jain Resource Recycling is a Chennai-based company that recycles non-ferrous metals including lead, copper, and aluminium, with a gold refining subsidiary in the UAE. Kacholia also made portfolio changes during the September quarter, adding five new positions while trimming stakes in Dhabriya Polywood, Xpro India, and Brand Concepts.

Jain Resource Recycling's stock jumped 9% to a new 52-week high following strong quarterly results. The company reported consolidated net profit of Rs 98.6 crore for the September quarter, an 88% increase from Rs 52.6 crore in the same quarter last year. Revenue from operations rose 52% to Rs 2,113.7 crore, while EBITDA increased 82% to Rs 160 crore with margins improving 127 basis points to 7.6%. The Aluminium and Alloys segment saw revenue surge 115% to Rs 154.5 crore, Lead and Ingots business grew 47% to Rs 1,740 crore, and Copper Ingots increased 14% to Rs 1,697.8 crore. The stock has gained 51% from its IPO price of Rs 232 per share since listing on October 1. Investor Ashish Kacholia holds a 1.1% stake through Bengal Finance & Investments, with his investment delivering 156% returns since March. The company operates in non-ferrous metals recycling and manufacturing, with three facilities near Chennai and a gold refining unit in the UAE.