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Siyaram Recycling Industries Ltd (544047)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544047 NSE: Metal - Non Ferrous | Small Cap | Siyaram Recycl.Inds. Share Price

₹34.49 0.78 (2.31%)

As on 24-Jun'26 16:59

Siyaram Recycling Industries Ltd (544047)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544047 NSE: Metal - Non Ferrous | Small Cap | Siyaram Recycl.Inds. Share Price

₹34.49 0.78 (2.31%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹75 Cr.
Current Price
₹34.5
52-Week Low / High
₹32 / 157
TTM EPS
₹1.7
TTM Sales
₹362 Cr.
Book Value per Share
₹59.7
P/E Ratio
19.82
Lower than its 5-year historical median
Industry PE
20.3
Price to Book (P/B)
0.58
Lower than its 5-year historical median
Price to Sales (P/S)
0.21
Lower than its 5-year historical median
EV/EBITDA
8.39
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
14.77%
Outperforms industry median
Return on Capital Employed (ROCE)
16.97%
Outperforms industry median
Return on Assets (ROA)
6.44%
Operating Profit Margin
5.3%
Net Profit Margin
2.85%
Gross Profit Margin
4.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
23.87%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
59%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
93.75%
Asset Quality
Promoter Holding
51.11%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹108 Cr.
Equity
₹21.8 Cr.
Face Value
₹10
All Time Low / High
₹31.95 / 183.85

Siyaram Recycling Industries stock performance

Key Ratios
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Check Before You Invest

Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Siyaram Recycling Industries Ltd a good quality company?
Siyaram Recycling Industries Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Siyaram Recycling Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Siyaram Recycling Industries Ltd vs industry peers?
Siyaram Recycling Industries Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Siyaram Recycling Industries Ltd?
Promoters hold 51.11% of the Siyaram Recycling Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Siyaram Recycling Industries Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -73.63% based on the current price.
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10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Siyaram Recycling Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ5.6%11.4%16.5%13.7%17%-
Value Creation
Index ⓘ		-0.6-0.20.20.00.2-

Growth Parameters ⓘ
Sales ⓘ139423493413512362
Sales YoY Gr.-205.2%16.5%-16.2%23.9%-
Adj EPS ⓘ0.91.24.13.86.31.7
YoY Gr.-38.6%233.6%-6.6%66.1%-
BVPS (₹) ⓘ25.828.133.539.656.459.7
Adj Net
Profit ⓘ		1.21.75.67.113.84
Cash Flow from Ops. ⓘ6.810.6-34.5-4.2-43.2-
Debt/CF from Ops. ⓘ4.32.7-1.9-14.1-1.8-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA6.5%23.9%
Adj EPS ⓘNANA72.9%66.1%
BVPSⓘNANA26.1%42.2%
Share Price - - - -72.4%

Key Financial Parameters ⓘ

Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		3.44.513.211.613.53
Op. Profit
Mgn % ⓘ		2.81.42.44.25.3NAN
Net Profit
Mgn % ⓘ		0.90.41.11.72.71.1
Debt to
Equity ⓘ		0.80.71.50.80.6-
Working Cap
Days ⓘ		077851331520
Cash Conv.
Cycle ⓘ		04651941210

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Sales138.67423.23492.87412.99511.56
Operating Expenses ⓘ + 134.74417.18481.31395.87484.34
Manufacturing Costs5.9118.2022.3217.6621.75
Material Costs124.12376.17451.30372.73455.40
Employee Cost 2.562.052.241.621.74
Other Costs ⓘ 2.1420.755.453.865.45
Operating Profit ⓘ 3.936.0511.5617.1227.22
Operating Profit Margin (%) 2.8%1.4%2.3%4.1%5.3%
Other Income ⓘ + 1.063.214.991.262.23
Exceptional Items ⓘ 00000
Interest ⓘ 1.682.994.536.767.82
Depreciation ⓘ 1.361.781.691.461.21
Profit Before Tax ⓘ 1.954.5010.3310.1620.42
Tax ⓘ 0.531.273.172.635.84
Profit After Tax 1.423.227.177.5214.57
PAT Margin (%) 1.0%0.8%1.5%1.8%2.9%
Adjusted EPS (₹)1.02.35.24.06.7
Dividend Payout Ratio (%)0%0%0%0%0%

Valuation of Siyaram Recycl.Inds. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 35.5438.7746.2476.73126.89
Share Capital ⓘ 13.8113.8113.8118.8021.79
Reserves ⓘ 21.7424.9632.4457.93105.10
Debt +27.6226.0262.5355.1874.65
Long Term Debt15.852.694.111.687.08
Short Term Debt11.7723.3358.4153.5067.57
Minority Interest00000
Trade Payables29.3127.2627.1717.7837.94
Others Liabilities ⓘ 5.676.2315.1620.2043.27
Total Liabilities ⓘ 98.1498.28151.10169.89282.75

Fixed Assets

Net Fixed Assets ⓘ +7.047.566.966.095.92
Gross Block18.2220.5120.8721.3721.99
Accumulated Depreciation11.1712.9513.9215.2816.07
CWIP ⓘ 00001.74
Investments ⓘ 00000
Inventories40.4249.4377.55119.28200.67
Trade Receivables42.7033.6034.5829.3850.95
Cash Equivalents 0.382.100.720.520.01
Others Assets ⓘ 7.605.5931.2914.6223.46
Total Assets ⓘ 98.1498.28151.10169.89282.75

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 6.7810.58-34.52-4.21-43.21
PBT ⓘ 1.954.5010.3310.1620.42
Adjustment ⓘ 3.055.786.348.189.02
Changes in Working Capital ⓘ 1.770.3-46.62-19.91-67.04
Tax Paid ⓘ 00-4.57-2.63-5.61
Cash Flow From Investing Activity ⓘ + -1.60-2.36-1.09-0.60-2.78
Capex -1.60-2.29-1.09-0.60-2.78
Net Investments 0-0.06000
Others ⓘ -00000
Cash Flow From Financing Activity ⓘ + -5.82-6.5034.234.6045.48
Net Proceeds from Shares ⓘ 00022.9635.30
Net Proceeds from Borrowing ⓘ -3.23-13.164.34-2.4311.36
Interest Paid ⓘ -1.54-2.45-4.44-6.69-7.69
Dividend Paid ⓘ 00000
Others ⓘ -1.069.1134.33-9.246.51
Net Cash Flow ⓘ -0.641.71-1.37-0.20-0.51

Financial Ratio

PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)48.6816.8612.4614.77
ROCE (%)5.6111.3616.4813.6916.97
Asset Turnover Ratio1.414.3142.62.29
PAT to CFO Conversion(x)4.773.29-4.81-0.56-2.97
Working Capital Days
Receivable Days112.4032.9024.9027.9028.30
Inventory Days106.4038.8046.5086112.80
Payable Days86.2027.50222222.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Siyaram Recycling Industries Ltd FAQs

The current trading price of Siyaram Recycl.Inds. on 24-Jun-2026 16:59 is ₹34.49.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Jun-2026 the market cap of Siyaram Recycl.Inds. stood at ₹75.15 Cr

The latest P/E ratio of Siyaram Recycl.Inds. as of 23-Jun-2026 is 19.82.

The latest P/B ratio of Siyaram Recycl.Inds. as of 23-Jun-2026 is 0.58.

The 52-week high of Siyaram Recycl.Inds. is ₹157.0 and the 52-week low is ₹31.95.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Siyaram Recycl.Inds. is ₹362 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Siyaram Recycling Industries Ltd is a below average quality company.

The key valuation ratios of Siyaram Recycling Industries Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Siyaram Recycling Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Siyaram Recycling Industries Ltd

Siyaram Recycling Industries was originally incorporated as a private limited Company under the name of ‘Siyaram Impex Private Limited’ on February 12, 2007 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on July 24, 2023, the name of the Company was changed from ‘Siyaram Impex Private Limited’ to ‘Siyaram Recycling Industries Private Limited’ and a fresh certificate of incorporation pursuant to change of name was issued by the Registrar of Companies, Ahmedabad vide certificate dated July 27, 2023. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on August 05, 2023 the Company was converted into a Public Limited Company and consequently the name of the Company was changed from ‘Siyaram Recycling Industries Private Limited’ to ‘Siyaram Recycling Industries Limited’ vide a fresh certificate of incorporation consequent upon conversion from private company to public company dated August 24, 2023 issued by the Registrar of Companies, Ahmedabad.

The company is primarily engaged in (i) segregation of brass scrap (ii) manufacturing of brass ingots, billets and brass rods and (iii) manufacturing of brass based components (plumbing and sanitary parts). It manufactures various brass components (plumbing and sanitary parts) such as brass inserts, brass ceramic cartridges (brass spindles), brass valves, extension nipples etc. as per the customer’s requirements, from its two manufacturing units (Unit-I and Unit-II) located at village Lakhabaval, district Jamnagar. Some of the renowned brands which are its customers include Hindware, ROCA, Eauset, Somany, Supreme, AGI Greenpac (formerly known as HSIL) and Ashirvad Pipes.

It manufactures brass ingots, billets and rods through brass scrap from its manufacturing unit-II located at Village Lakhabaval, District Jamnagar. It mainly export these products to China. Additionally, it supplies brass ingots to esteemed customers in India such as Astral, Kajaria Bathware and AGI Greenpac (formerly known as HSIL). It procures brass scrap mainly from international market such as USA, UK, Europe and Middle East. Post procurement, segregation of brass is done at its unit-III located at Village Lakhabaval, District Jamnagar. Post segregation, the segregated brass is termed as Brass scrap honey. The brass scrap is mainly sold by the company in Gujarat.

Business area of the company

The company primarily engaged in (i) segregation of brass scrap (ii) manufacturing of brass ingots, billets and brass rods and (iii) manufacturing of brass based components (plumbing and sanitary parts). Such as brass inserts, brass ceramic cartridges (brass spindles), brass valves, extension nipples etc. as per the customer’s requirements.

Products of the company

  • Brass billets
  • Brass ingots 
  • Brass rods
  • Brass scrap
  • Brass components (Plumbing and Sanitary parts)
  • Brass inserts
  • Brass ceramic cartridges (Brass spindles)
  • Brass angle valves
  • Extension nipples

History and milestones 

  • 2020: Received award for ‘FT High-Growth Companies Asia-Pacific 2020’ by The Financial Times and Statista.
  • 2020-21: Crossed Rs 100 crore revenue mark in Financial Year 2020-21.
  • 2021-22: Crossed Rs 400 crore revenue mark in Financial Year 2021-22.
  • 2023-24: Change in the name of the Company from ‘Siyaram Impex Private Limited’ to ‘Siyaram Recycling Industries Private Limited’.
  • 2023-24: Conversion of Private Company to Public Limited Company.

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