During Tuesday’s trading session, the shares of this micro-cap recycling company surged 10.6 percent to hit a new 52-week high at Rs. 153.8 on BSE, after the company received an order worth $590000 (approximately Rs. 5 crores) from Al Qaryan International, Dubai.
With a market cap of Rs. 282.7 crores, the shares of Siyaram Recycling Industries Limited closed in the green at Rs. 150.4, up by nearly 8.2 percent, compared to its previous closing price of Rs. 139.
What’s the news:
Siyaram Recycling Industries Limited has secured a purchase order from Al Qaryan International in Dubai, with a total value amounting to $590,000 (or nearly Rs. 5 crores).
According to the latest regulatory filings with the BSE, the order is for 100 tons of Brass Billets intended for export to China, with a completion timeframe of 30 days.
Financials:
The company experienced a decline in its revenue from operations, showing a year-on-year decrease of around 16 percent from Rs. 492 crores in FY23 to Rs. 413 crores in FY24.
In contrast, its net profit increased marginally during the same period from Rs. 7 crores to Rs. 8 crores, indicating a rise of nearly 14.3 percent YoY.
Shareholding Pattern:
As per the March 2024 shareholding pattern, the Promoters hold a 70.82 percent stake in the company, Foreign Institutional Investors (FII) hold a 1.2 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 25.78 percent and 2.21 percent stake in Siyaram Recycling Industries, respectively.
Stock Performance:
The stock has delivered multibagger returns of nearly 160.4 percent of returns in one year, and around 94.7 percent of positive returns in the last six months. So far in 2024, the shares of Siyaram Recycling Industries have given multibagger returns of about 132 percent.
About the company:
Incorporated in 2007, Siyaram Recycling Industries Limited is engaged in the business of segregation of brass scrap, manufacturing of brass ingots, billets and brass rods, as well as manufacturing of brass-based components (plumbing and sanitary parts), serving domestic as well as international markets. The company is situated at Lakhabaval village of Jamnagar District in the state of Gujarat.
Written by Shivani Singh
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