Nupur Recyclers Limited (NRL)
🎯 Key Takeaways
- Nupur Recyclers Limited is in a clear phase of operational expansion and scale-up, transitioning from a traditional metal scrap trader to an integrated recycling and value-added manufacturing player. Management is actively investing in capacity enhancement through new facilities like the Sampla plant and subsidiary Frank Metals Recyclers Limited, with a strategic focus on high-growth sectors such as solar and automotive.
- Revenue declined 33% QoQ to ₹34 in Q3FY25.
- ⚠️ Execution risk around the Sampla plant commissioning and scaling of new facilities could delay anticipated capacity gains.
📖 The Story
Nupur Recyclers Limited is in a clear phase of operational expansion and scale-up, transitioning from a traditional metal scrap trader to an integrated recycling and value-added manufacturing player. Management is actively investing in capacity enhancement through new facilities like the Sampla plant and subsidiary Frank Metals Recyclers Limited, with a strategic focus on high-growth sectors such as solar and automotive. Recent financial performance reflects strong top-line growth and margin improvement, driven by operational efficiencies and better product mix.
📰 What's Happening
The company reported robust Q1 FY2026-27 results on August 12, 2026, with revenue surging 56.56% YoY to ₹8,303.05 Lakhs and EBITDA rising 111.46% YoY to ₹1,285.60 Lakhs, driven by higher volumes in non-ferrous scrap trading, improved realisations, and contributions from new facilities including Nupur Extrusion and the Sampla plant under construction. EBITDA margin expanded to 15.48% from 11.29% QoQ, reflecting better product mix and capacity utilisation. Management highlighted the commissioning of the Sampla facility to unlock incremental capacity and scale the extrusion vertical. Additionally, on June 17, 2026, the board approved an increase in the Managing Director’s remuneration and cleared material related-party transactions totaling up to ₹235 Crore with Frank Metals Recyclers Limited and ₹135 Crore with TYCOD Autotech Private Limited.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49 | 47 | 75 | 75 | 44 | 36 | 51 | 34 |
| Operating Profit | 4 | 3 | 4 | 3 | 3 | 7 | 8 | 6 |
| OPM % | 5.3% | 4.3% | 3.1% | 2.4% | 2.2% | 13.5% | 11.5% | 8.5% |
| Net Profit | 3 | 3 | 3 | 1 | 2 | 5 | 5 | 3 |
| EPS | ₹0.56 | ₹0.49 | ₹0.53 | ₹0.20 | ₹0.24 | ₹0.65 | ₹1.38 | ₹0.46 |
The company’s financial trajectory shows a clear inflection point, with revenue and profitability accelerating in recent quarters. After a period of volatility in FY24 (with revenue peaking at ₹75 Lakhs in Q3 and Q2), performance stabilized and then surged in Q1 FY26 with revenue at ₹8,303.05 Lakhs — a significant jump likely reflecting scale and volume growth. Profitability improved markedly, with PAT rising 82.61% YoY and EBITDA margin expanding to 15.48%, up from lower single-digit margins observed in prior quarters. This turnaround aligns with management’s stated focus on operational expansion and margin enhancement through capacity utilisation and product mix optimisation.
🔮 Management Outlook & What's Next
Management expressed a forward-looking stance in the August 12, 2026 filing, emphasizing the commissioning of the Sampla facility to unlock incremental capacity and scale recycling and extrusion operations. They highlighted ongoing strategic expansion in aluminium extrusion through Frank Metals Recyclers Limited and a focus on serving high-demand sectors like solar and automotive. No formal long-term guidance was provided, but the tone indicated confidence in sustained growth from ongoing capital investments and vertical integration efforts.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Metals & Minerals Trading
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Adani Enterprises Limited | 3.51 L Cr | 34.6 | 9.6% | 11.5% | 1.41 |
| Lloyds Enterprises Limited | 10,596 | 28.3 | — | — | — |
| SG Mart Limited | 7,551 | — | — | — | — |
| BMW Ventures Limited | 537 | — | — | — | — |
| Nupur Recyclers Limited | 370 | 23.6 | — | — | — |
| Abans Enterprises Limited | 335 | — | — | — | 0.72 |
| Bonlon Industries Limited | 68 | — | — | — | — |
| Ashoka Metcast Limited | 40 | 3.8 | — | — | — |
| Rajdarshan Industries Limited | 12 | 18.2 | — | — | — |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Execution risk around the Sampla plant commissioning and scaling of new facilities could delay anticipated capacity gains. 2. Dependence on volatile metal scrap prices and realisations in international markets may impact margins despite current improvements. 3. Related-party transactions with Frank Metals Recyclers Limited and TYCOD Autotech Private Limited raise governance concerns, especially following the resignation of an independent director from key committees, potentially affecting oversight.
📋 Recent Filings
-
🔴 Financial Results 12 August 2026Nupur Recyclers Limited reported Q1 FY2026-27 revenue of **₹8,303.05 Lakhs**, up 56.56% YoY, with EBITDA rising 111.46% to **₹1,285.60 Lakhs** and PAT...
-
🟡 Board Meeting 12 August 2026Nupur Recyclers Limited announced the outcome of its board meeting held on August 12, 2026, where it approved unaudited standalone and consolidated fi...
-
🟡 Board Meeting 27 June 2026No summary available
-
Financial Results 26 June 2026Nupur Recyclers Limited announced that its trading window will close on 1 July 2026 for all designated persons and their immediate relatives until 48 ...
-
🟡 Board Meeting 26 June 2026Nupur Recyclers Limited announced the resignation of Independent Director Kapal Kumar Vohra effective June 22, 2026, citing personal reasons and new p...
-
🟡 Board Meeting 17 June 2026Nupur Recyclers Limited convened an Extraordinary General Meeting on July 10, 2026, to seek shareholder approval for key resolutions including amendme...
-
share transfer 14 April 2026Nupur Recyclers Limited received a SEBI-mandated certificate from its share transfer agent confirming compliance for the quarter ended March 31, 2026,...
-
Announcement 31 March 2026Nupur Recyclers Limited filed a general corporate filing as of March 31, 2026. The document lacks specific financial data, operational metrics, or mat...
-
Financial Results 27 March 2026Nupur Recyclers Limited announced closure of its trading window effective April 1, 2026, for designated persons and immediate relatives pending announ...
🧠 Analyst's Read
Nupur Recyclers is transitioning from a volume-driven trader to a scaled recycler with emerging margin-accretive verticals, as evidenced by strong Q1 FY27 performance and strategic investments. Investors should monitor the pace of Sampla facility commissioning and the contribution of extrusion and subsidiary operations to future earnings, while remaining cautious of commodity volatility and governance risks tied to related-party dealings.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-13.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts when NRL files new disclosures
Track NRL filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track NRL — FreeFree account · 2 AI queries/day
© 2026 StockFin.ai — AI-powered Indian stock research