Siyaram Recycling Industries Ltd. – Company Report
1. Company Overview
Siyaram Recycling Industries Ltd., incorporated in 2007 and headquartered in Jamnagar, Gujarat, is a leading Indian manufacturer specializing in the recycling and processing of brass. The company’s operations span the segregation of brass scrap, and the manufacturing of brass ingots, billets, rods, and a wide array of brass-based components—particularly sanitary and plumbing parts. As an Original Equipment Manufacturer (OEM) with a strong emphasis on quality and sustainable practices, Siyaram operates multiple state-of-the-art manufacturing facilities in Jamnagar, which is a national hub for brass components manufacturing. The company is publicly listed and managed by a team led by Chairman Ramgopal Maheshwari and Managing Director Bhavesh Maheshwari. Siyaram has built a solid reputation both domestically and internationally through its commitment to precision, environmental stewardship, and stakeholder-centric operations.
- Incorporated: 2007
- Headquarters: Jamnagar, Gujarat, India
- Leadership: Chairman – Ramgopal Ochhavlal Maheshwari; Managing Director – Bhavesh Ramgopal Maheshwari
- Production: Three manufacturing plants across Jamnagar
- Workforce: 100–200 employees (estimated)
- Certifications: Adherence to industry and environmental standards; globally accredited production
- Listed: On Indian exchanges
- Market Cap (Aug 2025): ~₹288 crore
- Core Focus: Recycling brass scrap and manufacturing plumbing, sanitary, and engineering components
- Export Markets: ~33% of revenue from international markets, 67% from domestic sales
2. Products and Services
Siyaram Recycling Industries Ltd. maintains a comprehensive and evolving product portfolio to serve the diverse requirements of both Indian and international clients:
Brass and Copper Alloy Products:
- Brass ingots and billets
- Brass extrusion rods (solid and hollow)
- Copper alloy ingots and billets
Finished Components:
- Plumbing and sanitary goods (fittings, inserts, ceramic cartridges, valves, extension nipples)
- Bath fittings, brass spindles, pipe fittings (CPVC/PPR)
- Brass components used in hardware and electrical industries
Manufacturing and Capabilities:
- Plants equipped for scrap segregation, extrusion, and finishing processes
- In-house extrusion and forging capabilities
- Custom design and OEM solutions for clients
- Robust quality management, precision engineering, and timely delivery
Sustainability Initiatives:
- Strong focus on environmental impact mitigation—resource conservation, lowering energy use, and waste management
- Green projects supporting community recycling and educational programs
Value-Added Services:
- Sourcing and recycling of high-grade brass scrap
- End-to-end solutions from raw material processing to finished parts
- Export-oriented services for clients in plumbing, sanitaryware, hardware, and allied fields
3. Recent News and Financial Performance
Major Export and Domestic Order Wins
Shree Extrusions Limited (Jamnagar) (November 2024):
- Awarded a domestic contract worth ₹3.4 crore for 60 tons of brass scrap.
Axelon Group (Jamnagar) (October 2024):
- Awarded a domestic contract worth ₹3 crore for 50 tons of brass rods, to be delivered within 30 days.
Green Metals FZCO (Dubai) (November 2024):
- Secured an export order worth USD 850,000 (~₹7.14 crore) for 150 tons of brass billets to China (delivery within 45 days).
- This followed an earlier order of 75 tons worth USD 434,250 (~₹3.65 crore).
Greenland Trading Private Limited (Hong Kong) :
- April 2025: Siyaram Recycling Industries Ltd has announced that it has received a work order from Greenland Trading Pvt. Ltd. for supplying 200 tons of Brass Billets for Export to China worth ₹10.35 Crore.
- October 2024: This followed an earlier order for 125 tons of brass billet worth ₹6.3 crore (USD 7,50,000). The order of 125 tons of Brass Billets is associated with a time period of within 30 days.
AL Qaryan International DMCC (Dubai):
- March 2025: Received a purchase order of ₹5.30 crore (~USD 606,000) for 100 tons of brass billets, also for export to China (45-day timeline).
- January 2025: The company secured an order worth $11,60,000 (or nearly Rs. 10 crores) for the supply of 200 tons of Brass Billets intended for export to China.
Saanvi Metal Craft (September 2025):
- Siyaram Recycling Industries Limited has received a new order worth ₹1.40 crore from Saanvi Metal Craft for the supply of Brass Scrap Honey. The order is a domestic one, to be completed within one month, and is on a fixed cost basis.
H K Impex (September 2025):
- Siyaram Recycling Industries Ltd declared that it has secured a domestic order for a price of ₹16.81 million from H K Impex for Brass Scrap Honey. This fixed-cost order will be executed within six months.
Supreme Industries (November 2025):
- Siyaram Recycling Industries secured an order worth ₹1.53 crore for supplying 1/2" female insert CPVC (18 GRM). The project is to be executed within 6 months.
Business Developments
- The company reported strong FY2025 results with a significant surge in both revenue and net profit compared to the previous year.
- Continued investment in technological upgrades, operational efficiency, and expansion of product lines.
- Announced a new product line in mid-2025 aimed at addressing emerging market demands.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Total Revenue | ₹513.8 crore |
| Net Profit | ₹14.57 crore |
| Operating Profit Margin | 5% |
| Net Profit Margin | 2.8% |
| Earnings Per Share | ₹6.69 |
| Debt-Equity Ratio | Prudent and stable |
| Dividend | Not declared (earnings retained for expansion) |