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Jain Resource Recycling

JAINREC NSE
₹280.00 No trade today
P/E
26.82
View as Markdown
MCP
Close 4 Nov 2026 ₹280.00 −99.05 −26.1% 1Y
Start ₹379.05

Key Fundamentals

MicrocapDiversified MetalsMetals & Mining

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
25.70%
Debt to Equity
0.82
EPS (TTM)
₹10.44
Book Value
₹49.90
Market Cap
—
P/E (TTM)
26.82
P/B
5.61
ROE
30.40%
Dividend Yield
0.00%
EBITDA
₹587 Cr
52W High
₹593.95
52W Low
₹264.30
Volume
0

Peer Comparison

Commodities › Metals & Mining › Diversified Metals

Jain Resource Recycling peer comparison
Vedanta
₹257.355.11₹95,844 Cr7.892.03%38.20%16.10%₹88,898 Cr₹28,556 Cr
Jain Resource Recycling (this company)
₹280.0026.82₹9,493 Cr5.610.00%30.40%25.70%₹10,718 Cr₹360 Cr
Pondy Oxides & Chemical
₹391.3020.25₹2,963 Cr3.790.52%20.00%24.00%₹3,273 Cr₹148 Cr
Ardee Industries
₹47.1918.88₹1,445 Cr3.180.00%80.90%49.10%₹944 Cr₹62 Cr
Innomet Advanced Materials
₹304.65—₹375 Cr8.360.00%3.73%5.68%——
Median 5 companies₹280.0019.57₹2,963 Cr5.610.00%30.40%24.00%₹6,996 Cr₹254 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

32 Poor

Data confidence 98/100

Category scores

Quality
26
Poor
Returns, margins, earnings quality 22% weight
Valuation
26
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
45
Weak
Solvency, leverage, coverage 9% weight
Momentum
7
Poor
Trend strength, vol-adjusted 12% weight
Ownership
29
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.6%

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1072
OscillatorsBearish270
Moving AveragesStrong Bearish802

Key readings

RSI (14)
46.79
Neutral
MACD (12,26,9)
−3.59
Bearish
SMA (50)
284.94
Bearish
SMA (200)
364.04
Bearish

As of

Analyst Rating

Based on 4 analysts
BUY75%

3 of 4 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
3
75%
HOLD
1
25%
SELL
0
0%

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
3Y+46.04%
1Y+48.44%
TTM+65.35%

Net profit

Net profit growth by window
3Y+55.66%
1Y+55.61%
TTM+62.16%

Operating cash flow

Operating cash flow growth by window
3YTurned negative
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3Y+1.76 pp
1Y+0.13 pp
TTM−0.17 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹3,064 Cr
Mar 2024₹4,428 Cr
Mar 2025₹6,429 Cr
Mar 2026₹9,543 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹92.00 Cr
Mar 2024₹164 Cr
Mar 2025₹223 Cr
Mar 2026₹347 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹222 Cr +49.1% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 3 Aug 2026
AI opinion · based on fundamentals
Risk high

Jain Resource Recycling Ltd is a small-cap metals & mining company with a market cap of ₹12,299 Cr, trading at a PE of 34.6x and PB of 7.7x. The company has delivered strong compounded sales growth of 46% over 3 years and profit growth of 57% over the same period, with a 3-year average ROE of 37%, though it pays no dividend and trades at a premium valuation.

Bull Case 7
  • Compounded profit growth of 57% over 3 years indicates strong earnings momentum
  • TTM sales growth of 34% shows continued top-line expansion in the most recent period
  • 3-year average ROE of 37% reflects highly efficient capital deployment relative to equity base
  • TTM profit growth of 59% suggests accelerating earnings trajectory
  • Last year ROE of 31% remains well above typical industry benchmarks for metals & mining companies
  • Compounded sales growth of 46% over 3 years demonstrates sustained demand and scaling ability
  • Company is expected to deliver a good upcoming quarter based on operational trends
Bear Case 8
  • Stock trades at 7.7x book value, a steep premium for a metals & mining company
  • PE ratio of 34.6x is elevated for the metals & mining sector where cyclicality warrants lower multiples
  • Zero dividend yield despite repeated profitability signals lack of shareholder return policy
  • No 5-year or 10-year track record data available, limiting visibility on long-term consistency
  • Debt-to-equity ratio is unavailable, making it difficult to assess financial leverage risk
  • 52-week high and low data not available, obscuring price volatility and risk assessment
  • ROE declined from 37% (3-year average) to 31% (last year), suggesting potential margin compression
  • Absence of long-term stock CAGR data (1, 3, 5, 10 years all unavailable) prevents assessment of wealth creation track record

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

93d ago

TL;DR: Jain Resource Recycling is expanding aggressively—new copper anode production at Unit III, telecom diversification, and subsidiary financing. The key risk was a fatal furnace explosion at Unit II on Jul 14, but the quick resumption of operations by Jul 28 suggests limited long-term operational impact. The trend is improving as growth initiatives outpace the temporary setback, though safety oversight will remain a watch item.

Headwinds 1
  • Furnace explosion, one fatality Jul 14

    A furnace explosion at Unit II in Gummidipoondi on July 14 resulted in one fatality and injuries to other labourers. Operations in the affected section were temporarily suspended.

Positives 3
  • Unit-II operations resume Jul 28

    Jain Resource Recycling received permission to restart Unit-II operations in Tamil Nadu (excluding the fire-damaged shed) following safety inspections, indicating quick recovery from the Jul 14 incident.

  • Subsidiary starts copper anode production Jul 8

    Jain Green Technologies commenced commercial production of its Copper Anode line at Unit III in Tamil Nadu, featuring two furnaces to boost recycling capabilities.

  • Telecom diversification approved Jul 30

    Shareholders approved an MoA amendment at EGM on July 30 enabling diversification into optical fibre cable and telecom infrastructure activities.

Neutral 3
  • Q1FY27 earnings call on Aug 4 Jul 28

    Board approved unaudited results for quarter ended June 30, 2026 on August 3, with earnings conference call scheduled for August 4.

  • ₹50 Cr guarantee for subsidiary Jul 13

    Board approved a ₹50 Cr corporate guarantee for Jain CY Circular Solutions to secure credit facilities from ICICI Bank.

  • New CS appointed, EGM scheduled Jul 8

    Mr. Aravindkumar V was appointed Company Secretary effective July 8, and EGM was scheduled for July 30 to approve MoA object clause changes.

Quarterly Results

₹ Cr
JAINREC quarterly results, ₹ crore
Particulars Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,496
1,392
1,781
1,760
1,549
2,114
2,775
3,105
2,724
Expenses
1,402
1,304
1,691
1,667
1,459
1,954
2,577
2,995
2,616
Operating Profit
94
88
89
93
90
160
199
110
108
OPM %
6%
6%
5%
5%
6%
8%
7%
3.5%
4%
Other Income
10
7
13
8
6
5
2
10
9
Interest
21
19
21
23
16
27
26
26
19
Depreciation
3
3
4
4
3
3
4
4
4
PBT
80
72
77
75
77
135
171
89
94
Tax %
26%
27%
24%
30%
26%
27%
26%
26%
26%
Net Profit
60
53
59
53
57
99
126
66
69
EPS (₹)
2.91
2.56
2.86
1.62
1.75
2.86
3.66
1.91
2.01

Profit & Loss

₹ Cr
JAINREC profit and loss, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,064
4,428
6,429
9,543
10,718
Expenses
2,937
4,197
6,058
8,981
10,142
Operating Profit
127
231
371
563
576
OPM %
4.2%
5%
6%
6%
5%
Other Income
43
55
37
24
26
Interest
34
56
89
100
98
Depreciation
14
16
14
15
16
PBT
124
215
305
471
488
Tax %
26%
24%
27%
26%
—
Net Profit
92
164
223
347
360
EPS (₹)
4.59
7.99
6.93
10.11
10.44
Div. Payout %
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
JAINREC balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
40
41
65
69
Reserves
159
328
661
1,492
Borrowings
739
914
928
1,276
Other Liabilities
178
245
182
545
Total Liabilities
1,116
1,529
1,836
3,382
Fixed Assets
74
79
89
114
CWIP
0
0
3
45
Investments
0
16
36
149
Other Assets
1,042
1,433
1,708
3,073
Total Assets
1,116
1,529
1,836
3,382

Cash Flow

₹ Cr
JAINREC cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Operating
11
33
4
−591
Investing
−9
−93
−26
−79
Financing
3
136
−35
716
Net Cash Flow
5
76
−58
46
Free Cash Flow
−11
8
−30
−693
CFO/EBITDA
34
36
21
−89

Ratios

JAINREC financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
30
15
7
18
Inventory Days
45
50
42
62
Days Payable
4
2
6
14
Cash Conversion Cycle
71
63
43
66
Working Capital Days
17
8
17
38
ROCE %
—
23%
27%
26%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Jain Resource Recycling insights

59 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.59%
  • Public 11.91%
  • DIIs 9.60%
  • Others 4.12%
  • FIIs 0.78%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Jain Resource Recycling

What does Jain Resource Recycling Ltd do?
Incorporated in 2022, Jain Resource Recycling and its subsidiaries specialize in recycling non-ferrous metal scrap and producing lead, copper, and aluminium alloys. Its lead ingots are London Metal Exchange-registered, ensuring international quality standards.
Where is Jain Resource Recycling Ltd (JAINREC) listed?
Jain Resource Recycling Ltd trades as JAINREC on the NSE and under code 544537 on the BSE.
Which sector does Jain Resource Recycling Ltd belong to?
Jain Resource Recycling Ltd is classified under the Metals & Mining sector, in the Diversified Metals industry.
What is the PE ratio of Jain Resource Recycling Ltd?
Jain Resource Recycling Ltd trades at a PE ratio of 26.82 as of 4 Nov 2026, on earnings per share of ₹10.44, against a book value of ₹49.9 per share.
What is the 52-week high and low of Jain Resource Recycling Ltd?
Over the last 52 weeks Jain Resource Recycling Ltd has traded between ₹264.3 and ₹593.95 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Jain Resource Recycling Ltd?
Jain Resource Recycling Ltd reported a return on equity of 30.40%. Its debt-to-equity ratio is 0.82.

Company Information

Incorporated in 2022, Jain Resource Recycling and its subsidiaries specialize in recycling non-ferrous metal scrap and producing lead, copper, and aluminium alloys. Its lead ingots are London Metal Exchange-registered, ensuring international quality standards. The company also trades non-ferrous metals and commodities.

Website jainmetalgroup.com
Listed 1 Oct 2025
Face Value ₹2

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