Quarterly & Annual Financial Results
Jain Resource Recycling Reports Record FY26 Revenue of ₹9,543 Crore; Copper Expansion Projects Progressing Steadily
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Jain Resource Recycling Limited reported its highest-ever annual performance in FY26 with revenue crossing ₹9,543 crore, supported by strong growth in copper operations, improving export mix, and ongoing capacity expansion projects.
PRICE-SENSITIVE TRIGGER
Event: Investor presentation and financial highlights announcement for Q4 & FY26.
Type: Quarterly & Annual Financial Results
Impact: Positive
Immediate Effect: The company posted strong YoY growth in revenue, EBITDA, and PAT while reaffirming commissioning timelines for multiple copper value-added projects and strategic recycling expansions.
Key Metrics:
- FY26 Revenue: ₹9,543.1 crore (+48.4% YoY)
- FY26 EBITDA: ₹558.9 crore (+53.1% YoY)
- FY26 PAT: ₹347.4 crore (+55.6% YoY)
- Q4FY26 Revenue: ₹3,105 crore (+76.4% YoY)
- Q4FY26 PAT: ₹66 crore (+25.7% YoY)
- FY26 EBITDA Margin: 5.9%
- FY26 PAT Margin: 3.6%
Highlight Metric:
- Highest-ever annual revenue and profitability in company history with revenue crossing ₹9,500 crore milestone.
What Happened ?
Jain Resource Recycling Limited released its FY26 investor presentation highlighting robust operational and financial growth during the year. The company benefited from strong traction in copper and copper alloy products, which contributed nearly 55% of quarterly revenue versus 45% a year ago.
The company also updated investors on multiple ongoing expansion projects including:
- Copper anode expansion
- Copper cathode project
- Copper wire rod facility
- Copper busbar project
- Plastic recycling facility
- Ahmedabad copper scrap recycling JV
- Kuwait strategic recycling investment
Management indicated that most projects remain broadly on track despite temporary delays caused by West Asia geopolitical disruptions affecting machinery shipments and logistics.
Key Details
Operational Expansion & Strategic Initiatives:
- Copper anode Phase-1 furnace commissioned with 800 MT/month capacity.
- Copper cathode project targeted for commissioning in July 2026.
- Copper wire rod project expected to commence operations in August 2026.
- Copper busbar project targeted for September 2026 commissioning.
- Dedicated plastic recycling facility planned on ~6 acres at SIPCOT.
- Ahmedabad JV facility expected to process multiple categories of copper scrap.
- Kuwait recycling investment facing shipment delays due to West Asia conflict.
- FY26 revenue mix stood at 62% exports and 38% domestic business.
- Company operates 5 recycling facilities with combined production exceeding 2.4 lakh MTPA.
Note:
- Management stated that the long-term strategy remains focused on value-added copper products, recycling ecosystem expansion, and higher-margin specialty metal operations.
Risk Analysis
Key Risks:
- West Asia conflict disrupted machinery shipments and freight logistics.
- Temporary EBITDA per tonne compression due to LME-linked pricing pressure.
- High dependence on imported scrap and global commodity cycles.
- Delays in machinery deliveries could marginally impact commissioning timelines.
- Working capital intensity remains elevated due to inventory build-up.
Worst Case Scenario:
- Extended geopolitical disruptions or continued commodity price volatility could delay expansion benefits and pressure near-term profitability.
Risk Level: Medium
Company Commentary
- FY26 marked the strongest annual financial performance in the company’s history.
- Copper business contribution continues to rise in line with strategic guidance.
- Most expansion projects are progressing broadly as planned.
- Q1 FY27 negotiations indicate normalization in realization pressures.
- The company continues to strengthen its sustainability and recycling ecosystem initiatives.
Official Exchange Filing: Jain Resource Recycling Limited