Siyaram Recycling Secures Rs 2.64 Cr Order

Siyaram Recycling Industries Ltd has announced that it has secured a noteworthy order from Saanvi Metal Craft for the supply of Brass Scrap Honey. The intimation regarding this development was made pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

The total value of the secured order stands at Rs. 2,63,90,287. This contract has been awarded by a domestic entity and is classified under a fixed-cost nature. The company has confirmed that the order does not fall within related party transactions and that the promoter group has no interest in the entity awarding the order.

Order Details

The specifics of the agreement, as disclosed by the company, highlight the scope and timeline of the contract. The execution period for the order is set to be short-term.

Parameter	Details
Client Name	Saanvi Metal Craft
Order Value	Rs. 2,63,90,287
Nature	Fixed Cost
Origin	Domestic
Execution Time	Within 7 Days
Related Party Transaction	No

The company confirmed that the transaction is not a related party transaction and is conducted at arm’s length. The Managing Director, Bhavesh Ramgopal Maheshwari, signed the disclosure on May 22, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.30%	+4.23%	-7.71%	-46.81%	-73.22%	-35.53%

Siyaram Recycling Industries held its Board of Directors meeting on May 18, 2026, at its registered office in Jamnagar, Gujarat, where the board considered, approved, and took on record the audited standalone financial results for the half-year and year ended March 31, 2026, in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 3:45 PM and concluded at 4:30 PM. The statutory auditors, M/s. Kamlesh Rathod & Associates (Firm Registration No. 117930W), issued an unmodified audit opinion on the standalone financial results.

Financial Performance Overview

The company reported a significant decline in revenue and profitability for FY26. The following table summarises the key financial results (Amount in Lakhs):

Particulars:	H2 FY26 (Audited)	H1 FY26 (Unaudited)	H2 FY25 (Audited)	FY26 (Audited)	FY25 (Audited)
Revenue from Operations	14,983.98	21,185.12	26,589.23	36,169.10	51,155.84
Other Income	46.18	54.71	154.93	100.89	223.35
Total Income	15,030.15	21,239.83	26,744.16	36,269.99	51,379.19
Total Expenses	14,927.69	20,764.10	25,727.93	35,691.79	49,337.61
Profit Before Tax	102.46	475.73	1,016.23	578.20	2,041.58
Current Tax	32.11	122.84	329.53	154.95	589.29
Deferred Tax	(1.11)	45.16	(2.34)	44.05	(5.10)
Net Profit	71.47	307.73	689.04	379.20	1,457.39
Basic EPS (₹10 face value)	0.33	1.41	3.16	1.74	6.69
Diluted EPS (₹10 face value)	0.33	1.41	3.16	1.74	6.69

For FY26, revenue from operations declined to ₹36,169.10 lakhs from ₹51,155.84 lakhs in FY25, while net profit fell to ₹379.20 lakhs compared to ₹1,457.39 lakhs in the previous year. Profit before tax stood at ₹578.20 lakhs against ₹2,041.58 lakhs in FY25. The paid-up equity share capital remained unchanged at ₹2,178.92 lakhs, and other equity stood at ₹10,822.75 lakhs as at March 31, 2026.

Balance Sheet Highlights

The company's total assets stood at ₹27,388.88 lakhs as at March 31, 2026, compared to ₹28,324.50 lakhs in the previous year. Key balance sheet figures are presented below (Amount in Lakhs):

Particulars:	As at 31/03/2026 (Audited)	As at 31/03/2025 (Audited)
Property, Plant and Equipment	618.34	766.12
Total Non-Current Assets	1,081.59	1,381.04
Inventories	20,385.99	20,067.28
Trade & Other Receivables	5,457.56	5,094.50
Cash and Cash Equivalents	18.26	1.42
Total Current Assets	26,307.29	26,943.46
Total Assets	27,388.88	28,324.50
Equity Share Capital	2,178.92	2,178.92
Other Equity	10,822.75	10,510.14
Total Equity	13,001.68	12,689.06
Non-Current Borrowings	1,554.57	707.54
Current Borrowings	9,868.36	6,900.43
Total Equity and Liabilities	27,388.88	28,324.50

Cash Flow Summary

The company reported a net cash outflow from operating activities of ₹2,828.66 lakhs for FY26, compared to an outflow of ₹4,320.75 lakhs in FY25. Net cash used in investing activities was ₹14.40 lakhs, while financing activities generated a net inflow of ₹2,859.91 lakhs. Cash and cash equivalents at the end of the period stood at ₹18.26 lakhs, up from ₹1.42 lakhs at the beginning of the period.

Other Income Breakdown

Other income for FY26 totalled ₹100.89 lakhs, compared to ₹223.35 lakhs in FY25. The breakdown is as follows (Amount in Lakhs):

Particulars:	FY26 (Audited)	FY25 (Audited)
Currency Rate Changes	53.89	121.10
Interest Income	7.47	7.42
Profit on Sale of Asset	-	2.01
Others	39.52	92.83
Total	100.89	223.35

Auditor and Key Appointments

The board also approved the reappointment of Prafulla and Associates, Chartered Accountants, Jamnagar (Firm Registration No. 128094W), as Internal Auditors for FY 2026-27, and the appointment of M/s. Ankit Kushal & Associates, Cost Accountants (Firm Registration No. 004655), as Cost Auditors for FY 2026-27. The company noted that no investor complaints were pending or received during the period, and no capital was raised through equity shares or preferential allotment during the year.

Trading Window Closure

Pursuant to the Company's Code of Conduct and the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for insiders will remain closed until 48 hours after the financial results are made public, in compliance with regulatory standards.