Siyaram Recycling Industries Ltd
Incorporated in 2007, Siyaram Recycling Industries Ltd manufactures all kinds of Brass Plumbing and Sanitary Components[1]
- Market Cap ₹ 219 Cr.
- Current Price ₹ 101
- High / Low ₹ 184 / 90.5
- Stock P/E 15.0
- Book Value ₹ 58.2
- Dividend Yield 0.00 %
- ROCE 16.6 %
- ROE 14.3 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 29.3 to 36.4 days.
- Working capital days have increased from 58.7 days to 86.2 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Other Industrial Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 139 | 423 | 492 | 413 | 511 | |
| 135 | 418 | 481 | 396 | 484 | |
| Operating Profit | 4 | 6 | 11 | 17 | 27 |
| OPM % | 3% | 1% | 2% | 4% | 5% |
| 1 | 3 | 5 | 1 | 2 | |
| Interest | 2 | 2 | 4 | 7 | 8 |
| Depreciation | 1 | 2 | 2 | 1 | 1 |
| Profit before tax | 2 | 4 | 10 | 10 | 20 |
| Tax % | 27% | 29% | 31% | 26% | 29% |
| 1 | 3 | 7 | 8 | 15 | |
| EPS in Rs | 1.03 | 2.33 | 5.19 | 4.00 | 6.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| TTM: | 94% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| Last Year: | 14% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 19 | 22 |
| Reserves | 22 | 25 | 32 | 58 | 105 |
| 29 | 28 | 67 | 59 | 76 | |
| 33 | 32 | 38 | 34 | 80 | |
| Total Liabilities | 98 | 99 | 151 | 170 | 283 |
| 7 | 8 | 7 | 6 | 6 | |
| CWIP | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 91 | 91 | 144 | 164 | 276 | |
| Total Assets | 98 | 99 | 151 | 170 | 283 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 7 | 11 | -35 | -4 | -43 | |
| -2 | -2 | -1 | -1 | -3 | |
| -6 | -6 | 34 | 5 | 45 | |
| Net Cash Flow | -1 | 2 | -1 | -0 | -1 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 112 | 29 | 26 | 26 | 36 |
| Inventory Days | 119 | 48 | 63 | 117 | 161 |
| Days Payable | 86 | 26 | 22 | 17 | 30 |
| Cash Conversion Cycle | 145 | 50 | 66 | 125 | 167 |
| Working Capital Days | 114 | 27 | 31 | 59 | 86 |
| ROCE % | 11% | 16% | 14% | 17% |
Documents
Announcements
-
Closure of Trading Window
29 Sep - Trading window closed 1 Oct 2025 until 48 hours after unaudited results for half-year ended 30 Sep 2025.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 27 Sep
-
Announcement under Regulation 30 (LODR)-Change in Management
27 Sep - Appointed M/s. Murtuza Mandorwala & Associates as secretarial auditor for five-year term from 27 Sep 2025.
-
Shareholder Meeting / Postal Ballot-Outcome of AGM
27 Sep - 19th AGM on 27 Sep 2025: adopted FY2024-25 accounts; director reappointment; auditor appointments.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
17 Sep - Siyaram Recycling secured Rs.16.81 million H K IMPEX order for Brass Scrap Honey; delivery within six months.
Business Overview:[1][2]
SRIL, formerly known as Siyaram Impex Pvt Ltd, manufactures copper alloy (brass) ingots and billets at its facility in Jamnagar, Gujarat. It is in the business of:
a) Segregation of brass scrap
b) Manufacturing of brass ingots, billets, and brass rods
c) Manufacturing of brass-based components (plumbing and sanitary parts) such as brass inserts, brass ceramic cartridges (brass spindles), brass valves, extension nipples, etc.