Synopsis: This metal recycling company is expanding into copper cathodes with a planned capacity of 1,500 MT per month as part of its strategy to move up the copper value chain. The project is expected to strengthen margins, increase value addition, and support downstream expansion into products such as wire rods, busbars, and profiles.
Introduction
Growing demand for copper across power transmission, renewable energy, electric vehicles, industrial manufacturing, and infrastructure is encouraging companies to move beyond traditional recycling and into higher value-added products. As industries increasingly require refined copper solutions, businesses are focusing on building integrated value chains that offer better margins, stronger customer relationships, and greater earnings stability.
Against this backdrop, one metal recycling company is accelerating its expansion across the copper ecosystem to capture a larger share of the long-term growth opportunity. Also, Ace investor Ashish Kacholia holds a meaningful stake of 2.23 percent in the company through Suryavanshi Commontrade Private Limited and Bengal Finance and Investment Pvt Ltd.
Copper Cathode Project Nears Commissioning
One of Jain Resource Recycling’s most important expansion initiatives is its Copper Cathode facility, which will have a total installed capacity of 1,500 MT per month. Management stated that civil construction has been completed, while machinery installation and erection activities are progressing steadily. Despite temporary delays in imported machinery deliveries due to geopolitical disruptions, the project remains on track for commissioning beginning in FY27.
The cathode facility forms a critical part of the company’s broader copper value-added expansion program and is expected to support higher realizations and improved profitability over the long term.
Copper Becomes the Largest Revenue Contributor
The growing importance of copper is already visible in Jain Resource Recycling’s revenue mix.Management highlighted that copper and copper alloy products contributed around 55 percent of total revenue in Q4 FY26, compared with about 45 percent a year earlier.
This reflects the company’s strategic focus on scaling its copper ecosystem and increasing exposure to higher-growth segments. Copper volumes increased significantly during FY26, supported by strong sourcing capabilities and growing demand across domestic and export markets.
Building an Integrated Copper Ecosystem
The copper cathode project is only one part of a larger forward integration strategy.
Alongside cathodes, Jain Resource Recycling is developing copper wire rod and copper busbar & profile facilities, creating an integrated platform that spans multiple stages of the copper value chain. Management believes these projects will enhance customer integration, improve product mix, and structurally increase EBITDA per tonne over time. The cathode facility will also serve as a key feedstock source for these downstream businesses, helping create operational synergies across the copper ecosystem.
Value-Added Products Expected to Support Margin Expansion
Unlike traditional scrap processing, copper cathodes, wire rods, busbars, and profiles operate in higher value-added segments of the industry. Management indicated that these projects are profitability-driven expansions designed to improve realizations, reduce earnings cyclicality, strengthen customer stickiness, and support long-term margin expansion. The strategy is aimed at moving beyond pure recycling and increasing participation in refined and specialty copper products.
Outlook
With copper already accounting for the majority of revenue, the company is accelerating its transition toward a fully integrated copper platform. The upcoming 1,500 MT per month copper cathode facility, along with wire rod and busbar expansions, could significantly enhance value addition and profitability over the coming years.
As these projects move toward commissioning, management expects the copper business to remain the primary growth engine, supported by rising demand for refined copper products across power, infrastructure, industrial, and manufacturing sectors.
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