Nupur Recyclers Limited (NRL)

Metals & Mining · Metals & Minerals Trading · NSE · Updated 15 July 2026

₹76.61 ↓ 10.07% (1Y)

🎯 Key Takeaways

Nupur Recyclers Limited is in a transitional phase marked by governance changes and financial volatility, with declining revenue trends and margin pressure over recent quarters. The company operates in the metals and minerals trading sector, facing headwinds from sector-specific market fluctuations and operational challenges, while undergoing leadership and structural adjustments.
Revenue declined 33% QoQ to ₹34 in Q3FY25.
⚠️ Declining revenue and margins over multiple quarters, with OPM contracting from 13.5% in Q1FY25 to 2.2% in Q4FY24, indicating deteriorating operationa

Market Cap

₹370

P/E Ratio

23.6

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Nupur Recyclers Limited is in a transitional phase marked by governance changes and financial volatility, with declining revenue trends and margin pressure over recent quarters. The company operates in the metals and minerals trading sector, facing headwinds from sector-specific market fluctuations and operational challenges, while undergoing leadership and structural adjustments.

📰 What's Happening

Recent filings indicate significant governance shifts, including the resignation of Independent Director Kapal Kumar Vohra on June 22, 2026, which has impacted board expertise and governance continuity. Additionally, an Extraordinary General Meeting is scheduled for July 10, 2026, to approve key resolutions including an amendment to the Memorandum of Association for enhanced operational flexibility and an increase in Managing Director Rajesh Gupta's monthly remuneration from ₹3,00,000 to ₹8,00,000. Material related party transactions totaling up to ₹235 Crore with Frank Metals Recyclers Limited and ₹135 Crore with TYCOD Autotech Private Limited were also ratified during this process.

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 quarterly financials reveal a clear downward trend in revenue and profitability, with Q3FY25 revenue declining to ₹34 Crore from ₹51 Crore in Q2FY25 and ₹75 Crore in the same quarter of the previous year (Q3FY24). Operating profit has also contracted, falling to ₹6 Crore in Q3FY25 from ₹8 Crore in Q2FY25, with OPM declining to 8.5% from 11.5%. Net profit dropped to ₹3 Crore in Q3FY25 from ₹5 Crore in Q2FY25, and earnings per share fell to ₹0.46 from ₹1.38, indicating weakening operational performance and margin compression over the past year.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in the latest filings regarding future revenue, margin expectations, or strategic initiatives. However, the company has emphasized procedural compliance and shareholder approvals for governance changes, including the EGM to ratify the MOA amendment and remuneration increase. The absence of formal outlook commentary suggests limited visibility into near-term recovery prospects, with management focus currently on procedural and regulatory matters rather than strategic growth projections.

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

ADANIENT LLOYDSENT SGMART BMWVENTLTD ABANSENT

⚠️ Risk Factors

1. Declining revenue and margins over multiple quarters, with OPM contracting from 13.5% in Q1FY25 to 2.2% in Q4FY24, indicating deteriorating operational efficiency. 2. Governance instability following the resignation of an Independent Director, potentially affecting board oversight and investor confidence. 3. Approval of significant related party transactions and increased remuneration for the Managing Director, which may raise governance concerns and impact financial discipline. 4. Limited transparency in management's strategic outlook, leaving investors without clarity on recovery pathways.

📋 Recent Filings

🧠 Analyst's Read

The company is navigating a period of governance transition amid weakening financial performance, with no clear indication of a turnaround strategy. Investors should monitor the outcome of the upcoming EGM and the trajectory of quarterly results, particularly revenue stabilization and margin recovery, as early indicators of potential improvement or further deterioration.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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