Nupur Recyclers Limited (NRL)
₹168.85 +2.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Nupur Recyclers' revenue was ₹79.3 Cr (+55.6% year on year, +38.4% on the previous quarter), and net profit ₹7.4 Cr (+82.6% year on year); the operating margin was 11.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹79.3 | +55.6% | +38.4% |
| Operating profit | ₹9.2 | +127.4% | +149.2% |
| Net profit | ₹7.4 | +82.6% | +121.1% |
| EPS (₹) | 0.94 | +80.8% | +135.0% |
| Operating margin | 11.6% | — | — |
NRL exchange data
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📢 Recent Corporate Announcements
Nupur Recyclers Limited has issued the notice for its 8th Annual General Meeting (AGM) scheduled for September 29, 2026, via video conferencing. The agenda includes standard ordinary business such as the adoption of FY26 audited standalone and consolidated financial statements and the re-appointment of Managing Director Rajesh Gupta upon retirement by rotation. Special business items include ratifying ₹60,000 remuneration for cost auditors and regularizing the appointments of Ms. Nimisha Jain and Mr. Dinesh Kumar as Independent Directors for a 5-year term ending July 5, 2031. The filing represents standard annual statutory compliance.
- 8th AGM scheduled to be held on Tuesday, September 29, 2026, at 04:00 PM IST via video conferencing
- Approval sought for the appointment of Ms. Nimisha Jain and Mr. Dinesh Kumar as Independent Directors for a 5-year term until July 05, 2031
- Proposed ratification of ₹60,000 remuneration for Cost Auditor M/s Sudha Baweja & Co. for FY26-27
- Managing Director Rajesh Gupta eligible and proposed for re-appointment retiring by rotation
Nupur Recyclers Limited's Board has approved the appointment of Mr. Dinesh Kumar as an Additional Non-Executive Independent Director for a 5-year term from September 3, 2026, to September 2, 2031, subject to shareholder approval. Mr. Kumar brings over 27 years of corporate governance, legal, and secretarial experience. The Board also approved the appointments of M/s V Khaitan & Associates as Internal Auditors and M/s Sudha Baweja & Co. as Cost Auditors for FY 2026-27.
- Appointed Mr. Dinesh Kumar as Independent Director for a 5-year term (03-Sep-2026 to 02-Sep-2031)
- Mr. Dinesh Kumar has over 27 years of professional experience across legal, secretarial, and regulatory compliance
- M/s V Khaitan & Associates, Chartered Accountants, appointed as Internal Auditors for FY 2026-27
- M/s Sudha Baweja & Co., Cost Accountants, appointed as Cost Auditors for FY 2026-27
Nupur Recyclers Limited (NRL) announced outcomes from its Board meeting held on September 03, 2026. The Board approved the appointment of Mr. Dinesh Kumar as an Additional Non-Executive Independent Director for a 5-year term from September 03, 2026, to September 02, 2031, subject to shareholder approval. Additionally, the company appointed M/s V Khaitan & Associates as Internal Auditors and M/s Sudha Baweja & Co. as Cost Auditors for FY 2026-27. These are standard corporate governance and statutory compliance appointments with no direct impact on financials.
- Appointed Mr. Dinesh Kumar as Additional Non-Executive Independent Director for a 5-year term from September 03, 2026, to September 02, 2031
- Appointed M/s V Khaitan & Associates, Chartered Accountants, as Internal Auditors for FY 2026-27
- Appointed M/s Sudha Baweja & Co., Cost Accountants, as Cost Auditors for FY 2026-27
- Board meeting concluded in 20 minutes from 05:00 PM to 05:20 PM on September 03, 2026
Nupur Recyclers Limited has approved the appointment of Mr. Dinesh Kumar as an Additional Non-Executive Independent Director for a 5-year term from September 3, 2026, to September 2, 2031, subject to shareholder approval. Mr. Kumar brings over 27 years of experience across corporate laws, secretarial compliance, and regulatory governance. Additionally, the Board appointed M/s. V Khaitan & Associates as Internal Auditors and M/s. Sudha Baweja & Co. as Cost Auditors for FY 2026-27. These decisions represent routine governance and statutory compliance updates with no direct financial impact.
- Appointed Mr. Dinesh Kumar as Additional Independent Director for a 5-year term ending September 2, 2031
- Mr. Dinesh Kumar brings over 27 years of experience in legal, corporate governance, and regulatory compliance
- Appointed M/s. V Khaitan & Associates as Internal Auditors for FY 2026-27
- Appointed M/s. Sudha Baweja & Co. (FRN: 007443) as Cost Auditors for FY 2026-27
Nupur Recyclers Limited (NRL) has released the transcript of its Q1 FY27 earnings conference call held on August 24, 2026. The company reported consolidated revenue of approximately ₹83.03 crore for the quarter, supported by key subsidiaries Frank Metals (₹49.19 crore), NRL standalone (₹40.68 crore), Tycod Autotech (₹12.52 crore), and Nupur Extrusion (₹9.75 crore). Management outlined ongoing capacity additions at its Sampla facility, including 200 MT/month of zinc/aluminum ingots and a 6,000 MT/annum LFP battery recycling plant.
- Reported consolidated quarterly revenue of ~₹83.03 crore across operating subsidiaries
- Annually imports 8,000 to 10,000 tonnes of non-ferrous scrap (4,000t stainless steel, 3,000t zinc, 2,000t aluminium)
- Tycod Autotech (51% owned, EV ~₹24 crore) operates at 48% capacity utilization (1,200 MT/annum) supplying major OEMs like Tata Motors
- Developing a 6,000 MT/annum LFP battery recycling facility under construction at Sampla
Nupur Recyclers Limited has made available the audio recording of its Earnings Conference Call held on August 24, 2026. The call covered the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. For the June 2026 quarter, the company reported revenue of ₹79.34 cr and net profit of ₹7.39 cr. This disclosure is procedural under Regulation 30 of SEBI LODR Regulations.
- Earnings Conference Call conducted on August 24, 2026
- Call pertained to financial results for the quarter ended June 30, 2026
- Audio recording made accessible on the company's official website per Regulation 30
Nupur Recyclers Limited has scheduled its Q1 FY27 (quarter ended June 30, 2026) earnings conference call on Monday, August 24, 2026, at 16:00 IST. The call will be hosted from Mumbai with participation from Managing Director Mr. Rajesh Gupta. The discussion will focus on publicly available financial results for the quarter ended June 30, 2026, where the company reported revenue of Rs 79.34 Cr and a net profit of Rs 7.39 Cr.
- Earnings conference call scheduled for August 24, 2026, at 16:00 IST
- Managing Director Rajesh Gupta to lead the discussion with analysts and institutional investors
- Call will cover financial performance for the quarter ended June 30, 2026
- Universal dial-in access numbers provided: +91 22 6280 1102 / +91 22 7115 8003
Nupur Recyclers (NRL) reported a robust start to FY27, with Q1 revenue growing 56.6% YoY to ₹83.03 Cr, which represents approximately 38.4% of its total FY26 revenue. Profitability saw a sharp uptick as EBITDA margins expanded from 11.46% to 15.48%, driven by the ramp-up of the Nupur Extrusion facility and better product mix. Net profit for the quarter rose 82.6% YoY to ₹7.39 Cr. The company is currently expanding its aluminum extrusion vertical and progressing with the construction of a new 4.5-acre facility in Sampla, Haryana.
- Total Revenue increased 56.56% YoY to ₹83.03 Cr, driven by higher volumes and improved realizations.
- EBITDA grew 111.46% YoY to ₹12.86 Cr, with margins expanding by 402 basis points to 15.48%.
- Profit After Tax (PAT) rose 82.61% YoY to ₹7.39 Cr, reflecting strong operating leverage.
- Nupur Extrusion subsidiary is now operating at full capacity at its Haryana facility, serving solar and OEM sectors.
- Construction of a new 4.5-acre Sampla facility for zinc ingots is progressing as planned to unlock incremental capacity.
Nupur Recyclers Limited (NRL) reported a robust start to FY27 with consolidated revenue from operations growing 55.6% YoY to ₹79.34 Cr. Profit After Tax (PAT) surged 82.9% YoY to ₹7.39 Cr, significantly outperforming the ₹4.04 Cr reported in Q1 FY26. The consolidated performance was notably stronger than standalone results (Revenue: ₹38.94 Cr), reflecting the impact of its five subsidiaries, including the recently acquired Tycod Autotech. EPS for the quarter improved to ₹0.94 from ₹0.52 YoY.
- Consolidated Revenue from Operations increased 55.6% YoY to ₹79.34 Cr from ₹50.99 Cr.
- Consolidated Net Profit grew 82.9% YoY to ₹7.39 Cr, compared to ₹4.04 Cr in the year-ago period.
- Consolidated EPS rose to ₹0.94 for the quarter, up from ₹0.52 in Q1 FY26.
- Consolidated revenue is 2.04x the standalone revenue, highlighting the significant contribution of subsidiaries.
- Cost of materials consumed rose to ₹49.54 Cr from ₹26.92 Cr YoY, indicating increased processing activity.
Nupur Recyclers Limited (NRL) successfully passed all eight resolutions at its 1st Extraordinary General Meeting (EGM) for FY 2026-27 held on July 10, 2026. Key approvals include the alteration of the company's Object Clause and several material related party transactions (RPTs) with entities including Frank Metals Recyclers and Tycod Autotech. For the RPT resolutions, 50.84 million promoter shares were excluded from voting as per SEBI regulations, yet the resolutions passed with over 97% of the remaining valid public votes. This procedural milestone supports the company's previously announced diversification into the auto component sector.
- Shareholders approved the alteration of the Objects Clause with a 99.99% majority (50,981,238 votes in favor).
- Material Related Party Transactions with Tycod Autotech and Frank Metals Recyclers were ratified, with 50,838,209 promoter shares excluded from these specific votes.
- Remuneration for Managing Director Rajesh Gupta was approved with 97.05% of valid votes in favor.
- A total of 68 members participated in the remote e-voting process, representing 50,981,340 shares out of 19,264 total shareholders.
Nupur Recyclers Limited (NRL) has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Skyline Financial Services Private Limited, confirms the processing of share dematerialization requests for the quarter ended June 30, 2026. This is a standard procedural filing required by all listed companies in India. It does not contain any information regarding the company's financial performance or business operations.
- Compliance certificate submitted for the quarter ended June 30, 2026
- Certificate issued by Registrar and Share Transfer Agent, Skyline Financial Services Private Limited
- Filing completed on July 13, 2026, in accordance with SEBI timelines
- Confirms adherence to Regulation 74(5) regarding share certificate processing
Nupur Recyclers Limited (NRL) conducted its 1st Extraordinary General Meeting (EGM) for FY2026-27 on July 10, 2026. Shareholders voted on eight resolutions, including the alteration of the company's Objects Clause and the approval of material Related Party Transactions (RPTs) with Frank Metals Recyclers, Tycod Autotech, and Nupur Extrusion. These approvals are essential for the company's operational integration following its 51% acquisition of Tycod Autotech and its expansion into the auto component sector. Voting results are expected within two working days.
- 8 total resolutions were presented, including 2 special resolutions for Objects Clause alteration and MD remuneration.
- 5 resolutions focused on Material Related Party Transactions involving subsidiaries and group entities like Tycod Autotech and Frank Metals.
- Remote e-voting was conducted over a 3-day window from July 07 to July 09, 2026.
- The meeting was brief, commencing at 4:00 PM and concluding at 4:27 PM.
- Investment in subsidiary for H1 FY25 was previously reported at ₹13.44 Cr, highlighting the scale of related entity dealings.
Nupur Recyclers Limited (NRL) has appointed Ms. Nimisha Jain as an Additional Director in the category of Non-Executive Independent Director, effective July 06, 2026. The appointment is for a five-year term concluding on July 05, 2031, subject to shareholder approval at the next Annual General Meeting. Ms. Jain is a qualified Company Secretary with professional experience at major organizations including TCS and HCL, focusing on corporate governance and regulatory compliance. This appointment comes as the company manages a TTM revenue of ₹216 Cr and executes its expansion into the auto component sector.
- Appointment of Ms. Nimisha Jain as Independent Director effective July 06, 2026
- Fixed tenure of 5 consecutive years ending July 05, 2031
- Appointee brings corporate governance experience from roles at TCS and HCL
- Appointment is subject to shareholder ratification at the upcoming Annual General Meeting
Nupur Recyclers Limited (NRL) has appointed Ms. Nimisha Jain as an Additional Director in the Non-Executive Independent category effective July 06, 2026. Her appointment is for a five-year term ending July 05, 2031, subject to shareholder approval at the next Annual General Meeting. Ms. Jain is a qualified Company Secretary with professional experience at TCS and HCL, focusing on corporate governance and regulatory compliance. This is a routine board-level appointment to maintain governance standards.
- Appointment of Ms. Nimisha Jain for a 5-year term starting July 06, 2026.
- The tenure is scheduled to conclude on July 05, 2031.
- Ms. Jain brings corporate governance experience from previous roles at TCS and HCL.
- The board meeting was conducted within a 30-minute window from 4:00 PM to 4:30 PM.
Mr. Kapal Kumar Vohra has resigned from his position as a Non-Executive Independent Director of Nupur Recyclers Limited effective June 22, 2026. He cited new professional responsibilities requiring intensive devotion as the primary reason for his departure. Consequently, he has also stepped down as Chairman of the Audit Committee and the Stakeholders Relationship Committee. The company has confirmed there are no other material reasons for his resignation.
- Resignation of Mr. Kapal Kumar Vohra effective from June 22, 2026
- Vacated Chairmanship of the Audit Committee and Stakeholders Relationship Committee
- Cessation of membership in the Nomination and Remuneration Committee
- Resignation attributed to new professional responsibilities with no other material reasons cited
- Director continues to hold a position at Bharti Hexacom Limited
Financial Performance
Revenue Growth by Segment
Revenue from operations for FY 2024-25 was INR 13,404.08 lakhs, reflecting a 25.87% decline from INR 18,081.81 lakhs in FY 2023-24. For H1 FY26, revenue stood at INR 6,017.30 lakhs. While segment-specific splits are not quantified, a large portion of revenue is derived from trading activities.
Geographic Revenue Split
Not disclosed in available documents, though the company targets both domestic and international markets for its recycled metal products.
Profitability Margins
Net Profit Ratio for FY 2024-25 was 5%, down from 6% in FY 2023-24. Operating Profit Margin improved to 7.29% in FY 2025 from 5.39% in FY 2024, representing a 35.25% increase in core operational efficiency.
EBITDA Margin
Operating Profit Margin was 7.29% in FY 2024-25, up from 5.39% YoY. This 190 bps improvement indicates enhanced core profitability despite a decline in total revenue.
Capital Expenditure
H1 FY26 expenditure on Property, Plant, and Equipment was INR 1.62 Cr. The company has also acquired 4.5 acres of land in Sampla, Haryana, for a new manufacturing unit to scale production.
Credit Rating & Borrowing
Debt-Equity ratio is reported as 'NA' for FY 2024-25 as the company repaid its loans. Interest Coverage Ratio significantly improved to 124.71 from 34.26, a 264.01% increase. Finance costs for H1 FY26 were INR 0.59 Cr.
Operational Drivers
Raw Materials
Metal scrap (aluminum, copper, etc.) and auto components. Cost of materials consumed in H1 FY26 was INR 4.02 Cr, while purchase of stock-in-trade was INR 52.27 Cr.
Import Sources
Not specifically named, but the company notes a high reliance on imported raw materials, exposing it to geopolitical risks and shipping delays.
Capacity Expansion
Acquired 4.5 acres in Sampla, Haryana, for a new manufacturing unit where construction has commenced. Current installed capacity in MT is not disclosed.
Raw Material Costs
Purchase of stock-in-trade for FY 2024-25 was INR 107.47 Cr, accounting for approximately 80% of total revenue. H1 FY26 stock-in-trade purchases were INR 52.27 Cr.
Strategic Growth
Expected Growth Rate
7.13%
Growth Strategy
Growth will be achieved through the establishment of a new manufacturing unit in Sampla, Haryana, and diversification into the auto component sector via the 51% acquisition of Tycod Autotech. The company is also leveraging 'Make in India' initiatives to enhance its participation in the recycling value chain.
Products & Services
Recycled metal products and auto components.
Brand Portfolio
Nupur Recyclers Limited (NRL), Tycod Autotech Private Limited.
New Products/Services
Auto components through the acquisition of Tycod Autotech; expected revenue contribution percentage is not quantified.
Market Expansion
Expansion into auto component manufacturing and establishing a new unit in Haryana to strengthen domestic presence and reduce dependency on external suppliers.
Strategic Alliances
Acquisition of a 51% stake in M/s Tycod Autotech Private Limited to diversify the business into auto component manufacturing.
External Factors
Industry Trends
The industry is shifting toward a circular economy and sustainable manufacturing. Government initiatives like 'Atmanirbhar Bharat' are accelerating growth in the recycling ecosystem, favoring companies with integrated processing capabilities.
Competitive Landscape
Intensifying competition from both established players and new entrants in the metal recycling and auto component sectors exerts pressure on pricing and margins.
Competitive Moat
Strategic positioning in the recycling value chain and diversification into auto components provide a competitive edge. This moat is sustainable due to the increasing regulatory and consumer shift toward resource efficiency.
Macro Economic Sensitivity
Sensitive to global trade dynamics and domestic economic growth; a slowdown would impact demand from end-use sectors like automotive and construction by an estimated 10-15%.
Consumer Behavior
Increasing industrial demand for sustainably sourced materials and recycled metals in manufacturing processes.
Geopolitical Risks
Geopolitical tensions affecting shipping routes and the availability of imported metal scrap are primary risks.
Regulatory & Governance
Industry Regulations
Operations are subject to environmental, waste management, and import/export regulations. Tightening of these norms could lead to higher compliance costs.
Taxation Policy Impact
Current tax for H1 FY26 was INR 2.50 Cr on a Profit Before Tax of INR 10.85 Cr, resulting in an effective tax rate of approximately 23%.
Legal Contingencies
Taxation for earlier years of INR 0.22 Cr was recorded in FY 2024-25; no other specific pending court cases or case values were disclosed.
Risk Analysis
Key Uncertainties
Global commodity price volatility and supply chain disruptions for imported materials could impact margins by over 10% if logistics costs spike.
Geographic Concentration Risk
Not disclosed in available documents, though the company targets both domestic and international markets.
Third Party Dependencies
High reliance on imported raw materials creates a significant dependency on international scrap suppliers and global shipping logistics.
Technology Obsolescence Risk
Risk of needing advanced manufacturing capabilities to remain competitive; the company is planning investments in advanced manufacturing to mitigate this.
Credit & Counterparty Risk
Trade receivables stood at INR 17.74 Cr as of September 30, 2025. The Trade Receivable Turnover Ratio dropped 80.02% to 3.36 in FY 2024-25, indicating a slowdown in collection efficiency.
