Siyaram Recycling Industries Ltd - Stock Valuation and Financial Performance

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.