Pondy Oxides and Chemicals Limited has approved the establishment of a new Copper Recycling Plant in Thervoykandigai, Tamil Nadu, with a project cost of approximately ₹200 Crores. The facility, scheduled for commissioning by December 2026, aims to expand the company's value-added recycling capacities and strengthen its commitment to circular economy principles. The project will be funded through internal accruals and targets both domestic and export markets.

The new plant will feature an installed capacity of 36,000 MTPA of LME Grade A Copper Cathode, to be implemented in two phases of 18,000 MTPA each. It will utilize integrated pyro-refining and electro-refining technology. This strategic initiative is designed to diversify the company's non-ferrous recycling portfolio, leverage its established recycling expertise, and reduce India's dependency on copper imports.

Project Details

Business Imperative

The Copper Recycling Plant is strategically aimed at expanding, diversifying, and forward integrating into the non-ferrous recycling portfolio with value-added capabilities. It seeks to position Pondy Oxides and Chemicals Limited as a competitive global recycled copper supplier while reinforcing its commitment to sustainable and responsible manufacturing. The project also intends to reduce the import dependency of copper from foreign countries.

Upon successful commissioning, the plant is expected to bolster revenue and profitability through the commercialization of value-added recycled copper. It aims to enhance the product mix and strengthen margins through premium copper offerings, while delivering operational synergies across procurement, logistics, and sales functions. Additionally, the facility will help reduce the carbon footprint through increased utilization of recycled copper and generate direct and indirect employment to foster regional socio-economic development.

Pondy Oxides and Chemicals Limited's board has approved the sub-division of equity shares from a face value of ₹5 to ₹2 to enhance liquidity and encourage small investor participation. The meeting, held on May 26, 2026, also approved the appointment of Mr. Hemant Jawahar Lal as an Additional Non-Executive Independent Director for five years with immediate effect. Both decisions are subject to shareholder approval via postal ballot.

The stock split will alter the capital structure, converting every two existing shares of ₹5 each into five shares of ₹2 each. The record date for the split will be determined after shareholder approval. The board also approved altering the Capital Clause of the Memorandum of Association to reflect the new face value of ₹2. The authorized capital will increase to 10,07,50,000 equity shares of ₹2 each, while the total paid-up capital remains unchanged at ₹15,25,56,395.

Mr. Hemant Jawahar Lal (DIN: 11731104) brings over three decades of experience, having retired as Principal Chief Commissioner of Income Tax. His expertise includes International Taxation and Transfer Pricing. The board confirmed he meets the independence criteria under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015.

Capital Structure Details

The company expects the share split process to be completed within two months of receiving shareholder approval. The postal ballot notice for both the split and the director appointment will be circulated in due course.