Siyaram Recycling Industries Ltd
Incorporated in 2007, Siyaram Recycling Industries Ltd manufactures all kinds of Brass Plumbing and Sanitary Components[1]
- Market Cap ₹ 79.0 Cr.
- Current Price ₹ 36.2
- High / Low ₹ 157 / 32.0
- Stock P/E 7.92
- Book Value ₹ 59.6
- Dividend Yield 0.00 %
- ROCE 16.6 %
- ROE 14.3 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.61 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.33%
- 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 | TTM | |
|---|---|---|---|---|---|---|
| 139 | 423 | 492 | 413 | 511 | 478 | |
| 135 | 418 | 481 | 396 | 484 | 455 | |
| Operating Profit | 4 | 6 | 11 | 17 | 27 | 22 |
| OPM % | 3% | 1% | 2% | 4% | 5% | 5% |
| 1 | 3 | 5 | 1 | 2 | 2 | |
| Interest | 2 | 2 | 4 | 7 | 8 | 9 |
| Depreciation | 1 | 2 | 2 | 1 | 1 | 1 |
| Profit before tax | 2 | 4 | 10 | 10 | 20 | 15 |
| Tax % | 27% | 29% | 31% | 26% | 29% | |
| 1 | 3 | 7 | 8 | 15 | 10 | |
| EPS in Rs | 1.03 | 2.33 | 5.19 | 4.00 | 6.69 | 4.57 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| TTM: | -9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -72% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 14% |
| Last Year: | 14% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 19 | 22 | 22 |
| Reserves | 22 | 25 | 32 | 58 | 105 | 108 |
| 29 | 28 | 67 | 59 | 76 | 107 | |
| 33 | 32 | 38 | 34 | 80 | 53 | |
| Total Liabilities | 98 | 99 | 151 | 170 | 283 | 290 |
| 7 | 8 | 7 | 6 | 6 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 2 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 91 | 91 | 144 | 164 | 276 | 283 | |
| Total Assets | 98 | 99 | 151 | 170 | 283 | 290 |
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 |
| Free Cash Flow | 5 | 8 | -36 | -5 | -46 |
| CFO/OP | 178% | 192% | -261% | -9% | -138% |
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% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Gross Current Assets (GCA) Days Days |
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| Receivables Days Days |
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| Bank Limit Utilization (Average) % |
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| Brass Billet Order Volume (Specific Orders) Tons |
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| Installed Solar Power Capacity KW |
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Documents
Announcements
-
Closure of Trading Window
26 Mar - Trading window closed April 1, 2026 until 48 hours after audited results for year/half-year ended March 31, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
6 Mar - Siyaram Recycling attended Arihant Bharat Connect Rising Stars 2026; no UPSI shared; uploaded to website.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Mar - Of Schedule of Analyst / Institutional Investor Meeting s under the SEBI ( Listing Obligations and Disclousure Rquirements) Regulations 2015
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
25 Feb - Siyaram Recycling secured Rs.1,99,60,290 Brass Scrap Honey order from Anurag Impex, execution within seven days.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
16 Feb - Siyaram Recycling secured Rs.2,04,00,831 order from Charbhuja Impex for Brass Scrap Honey, execution 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.