Management Or Ownership Change
Expected: completed during FY 2025-26HIGH confidence
What: acquisition stake percentage: 51% stake in Tycod Autotech Private Limited
Impact: enterprise value of approximately ₹2,400 Lakhs
Nupur Recyclers Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +92.1%Average4w Streak
In , Nupur Recyclers Ltd (Trading) is outperforming Nifty 500 with +92.1% relative strength. Fundamentals: Average. On a 4-week streak.
Nupur Recyclers Ltd Key Facts
- PE Ratio
- 51.0x
- Market Cap
- ₹725 Cr
- PAT Growth YoY
- +45%
- Revenue Growth YoY
- +54%
- OPM
- 6.4%
- RS vs Nifty 500
- +92.1%
PE: Mid ExpansionStrong Opportunity
What's Happening
💎PE falling while earnings hold — value emerging
📊Debt increased 154% YoY — leverage rising
💰Trading 70% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Management Or Ownership Change
completed during FY 2025-26HIGH
2. Geographical Expansion
January 2026MEDIUM
3. New Product Or Brand Launch
FY 2026-27 onwardsHIGH
Key Risks
1. SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operati
HIGH2. Material related party transactions aggregating ₹655 crore require shareholder a
HIGH3. LME copper price volatility identified as common headwind across non-ferrous rec
MEDIUMKey Numbers
PAT Growth YoY
+45%
Inflection Up
Revenue YoY
+54%
Stable
Operating Margin
6.4%
+105 bps YoY
PE Ratio
51.0
Current Price
₹105
Fundamental Score
43/100
Average
3Y PAT CAGR
+2%
Market Cap
745 Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Nupur Recyclers Ltd's Earnings Accelerating?
Based on Q4 FY26 (web) earnings • Updated Jul 28, 2026
Geographical Expansion
Expected: January 2026MEDIUM confidence
What: new facility operational status: Haryana facility operating at full capacity from January 2026
Impact: caters to solar plant manufacturing and OEM operations
New Product Or Brand Launch
Expected: FY 2026-27 onwardsHIGH confidence
What: Object Clause alteration approval: Lithium, Graphite, and Lithium Ion Battery recycling business
Impact: subject to shareholder approval
Regulatory Approval Or License Win
Expected: pending shareholder approvalMEDIUM confidence
What: Board approval for Object Clause alteration: subject to shareholder approval
Impact: enables lithium-ion battery recycling business
Value Added Product Mix Shift
Expected: FY 2026-27MEDIUM confidence
What: product mix expansion strategy: higher-value processed metals, zinc ingots, extrusion products
Impact: 4.5 acres land purchased for zinc ingot production capacity
What Are the Key Risks for Nupur Recyclers Ltd?
Earnings deceleration risks from management commentary
SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operati
HIGHTrigger: SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operating without required non-promoter shareholder approval since September 2025, representing 94.75% of consolidated turnover.
Impact: PAT impact: >10%
Management view: EGM held July 10, 2026 to seek retrospective and prospective RPT approvals
Monitor: regulatory
Material related party transactions aggregating ₹655 crore require shareholder a
HIGHTrigger: Material related party transactions aggregating ₹655 crore require shareholder approval under SEBI Regulation 23, with transactions spanning multiple subsidiary entities.
Impact: PAT impact: >10%
Management view: EGM conducted July 10, 2026 via video conferencing to approve RPTs with Frank Metals, Tycod Autotech, and Nupur Extrusion
Monitor: regulatory
LME copper price volatility identified as common headwind across non-ferrous rec
MEDIUMTrigger: LME copper price volatility identified as common headwind across non-ferrous recycling peers, with Q4 EBITDA pressure noted from commodity price fluctuations.
Impact: PAT impact: 5-10%
Management view: Hedging strategies and diversified international sourcing referenced as risk management approaches
Monitor: commodity
Freight rate fluctuations cited as operational headwind affecting peer EBITDA ma
MEDIUMTrigger: Freight rate fluctuations cited as operational headwind affecting peer EBITDA margins in the non-ferrous recycling sector during Q4.
Impact: PAT impact: 5-10%
Management view: Diversified international sourcing mentioned as mitigation strategy
Monitor: logistics
Employee costs increased 115
MEDIUMTrigger: Employee costs increased 115.60% year-on-year in Q3 FY26, rising from ₹1.09 crores to ₹2.35 crores, potentially eroding operating leverage during revenue expansion.
Impact: PAT impact: 5-10%
Management view: Not Given
Monitor: labor
EPR compliance mandates require 30% recycled content currently, escalating to 60
LOWTrigger: EPR compliance mandates require 30% recycled content currently, escalating to 60% by FY28-FY29 for plastic packaging, creating compliance obligations for authorized recyclers.
Impact: PAT impact: <5%
Management view: Company operates as authorized recycler with EPR certificate trading as revenue lever
Monitor: regulatory
What Did Nupur Recyclers Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹60.47 crore
YoY +54.53%
Total income grew 54.53% YoY to ₹60.47 crore for the quarter ended March 31, 2026.
PAT
₹3.35 crore
YoY +45.21%
PAT increased 45.21% YoY to ₹3.35 crore compared to ₹2.31 crore in Q4 FY25.
Other Highlights
• Acquired 51% stake in Tycod Autotech Private Limited at enterprise value of approximately ₹2,400 Lakhs.
• Nupur Extrusion Private Limited commenced operations at new Haryana facility from January 2026.
• Purchased 4.5 acres of land at Sampla, Haryana for zinc ingot production capacity enhancement.
What Is Nupur Recyclers Ltd's Management Guidance?
Forward-looking targets from management
Revenue Outlook
The lack of formal guidance from the management leaves investors to rely on historical performance and sector trends.
Capex Plan
approximately ₹2,400 Lakhs
acquisition of 51% stake in Tycod Autotech Private Limited; 4.5 acres land purchase at Sampla, Haryana for zinc ingot production capacity
Volume
The company anticipates stable demand from its key customer segments, including alloy manufacturers and industrial users.
Management Tone: CAUTIOUS
How Fast Is Nupur Recyclers Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +54% | +5% | Stable |
| PAT (Net Profit) | +45% | +2% | Inflection Up |
| OPM | 6.4% | +105 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Jul 28, 2026.
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Frequently Asked Questions: Nupur Recyclers Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Nupur Recyclers Ltd's latest quarterly results?
Nupur Recyclers Ltd's latest quarterly results (Mar 2026) show
- PAT Growth YoY: +44.6% (turning around (inflection up))
- Revenue Growth YoY: +54.0%
- Operating Margin: 6.4% (volatile)
Is Nupur Recyclers Ltd's profit growing or declining?
Nupur Recyclers Ltd's profit is growing with a turning around (inflection up) trend.
- PAT Growth YoY: +44.6% (latest quarter)
- PAT Growth QoQ: -29.8% (sequential)
- 3-Year PAT CAGR: +2.2%
- Trend: Turning around (inflection up) — consistent growth pattern
What is Nupur Recyclers Ltd's revenue growth trend?
Nupur Recyclers Ltd's revenue growth trend is stable.
- Revenue Growth YoY: +54.0%
- Revenue Growth QoQ: -2.6% (sequential)
- 3-Year Revenue CAGR: +4.9%
How is Nupur Recyclers Ltd's operating margin trending?
Nupur Recyclers Ltd's operating margin is volatile.
- Current OPM: 6.4%
- OPM Change YoY: +1.1% basis points
- OPM Change QoQ: -3.7% basis points
What is Nupur Recyclers Ltd's 3-year profit and revenue CAGR?
Nupur Recyclers Ltd's long-term compounding rates
- 3-Year Profit CAGR: +2.2%
- 3-Year Revenue CAGR: +4.9%
Is Nupur Recyclers Ltd's growth accelerating or decelerating?
Nupur Recyclers Ltd's earnings growth is turning around (inflection up) with mixed signals on a sequential basis.
- YoY Acceleration: +7.4% bps
- Sequential Acceleration: -39.7% bps
What is Nupur Recyclers Ltd's trailing twelve month (TTM) performance?
Nupur Recyclers Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹16 Cr
- TTM PAT Growth: +1.2% YoY
- TTM Revenue: ₹216 Cr
- TTM Revenue Growth: +36.4% YoY
- TTM Operating Margin: 7.9%
Is Nupur Recyclers Ltd overvalued or undervalued?
Nupur Recyclers Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 51.0x
- Price-to-Book: 5.4x
What is Nupur Recyclers Ltd's current PE ratio?
Nupur Recyclers Ltd's current PE ratio is 51.0x.
- Current PE: 51.0x
- Market Cap: 725 Cr
How does Nupur Recyclers Ltd's valuation compare to its history?
Nupur Recyclers Ltd's current PE is 51.0x.
- Current PE: 51.0x
- Valuation Assessment: Significantly Overvalued
What is Nupur Recyclers Ltd's price-to-book ratio?
Nupur Recyclers Ltd's price-to-book ratio is 5.4x.
- Price-to-Book (P/B): 5.4x
- Book Value per Share: ₹19
- Current Price: ₹105
Is Nupur Recyclers Ltd a fundamentally strong company?
Nupur Recyclers Ltd is rated Average with a fundamental score of 43/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +54.0% (10% weight)
- PAT Growth YoY: +44.6% (10% weight)
- PAT Growth QoQ: -29.8% (10% weight)
- Margins stable (10% weight)
Is Nupur Recyclers Ltd debt free?
Nupur Recyclers Ltd's debt position
- Total Debt: ₹33 Cr
What is Nupur Recyclers Ltd's return on equity (ROE) and ROCE?
Nupur Recyclers Ltd's return ratios over recent years
- FY2024: ROCE 14.0%
- FY2025: ROCE 19.0%
- FY2026: ROCE 15.0%
Is Nupur Recyclers Ltd's cash flow positive?
Nupur Recyclers Ltd's operating cash flow is positive (FY2026).
- Cash from Operations (CFO): ₹18 Cr
- Free Cash Flow (FCF): ₹2 Cr
- CFO/PAT Ratio: 113% (strong cash conversion)
What is Nupur Recyclers Ltd's dividend yield?
Nupur Recyclers Ltd currently does not pay a significant dividend (yield 0.00%).
- Dividend Yield: 0.00%
- Current Price: ₹105
Who holds Nupur Recyclers Ltd shares — promoters, FII, DII?
Nupur Recyclers Ltd's shareholding pattern (Jun 2026)
- Promoters: 73.6%
- FII (Foreign): 0.4%
- DII (Domestic): 0.0%
- Public: 26.0%
Is promoter holding increasing or decreasing in Nupur Recyclers Ltd?
Nupur Recyclers Ltd's promoter holding has increased recently.
- Current Promoter Holding: 73.6% (Jun 2026)
- Previous Quarter: 73.1% (Mar 2026)
- Change: +0.47% (increasing — positive signal)
How long has Nupur Recyclers Ltd been outperforming Nifty 500?
Nupur Recyclers Ltd has been outperforming Nifty 500 for 4 consecutive weeks, indicating building momentum.
Is Nupur Recyclers Ltd a new momentum entry or an established outperformer?
Nupur Recyclers Ltd is an established outperformer with 4 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Nupur Recyclers Ltd?
Nupur Recyclers Ltd has 5 key growth catalysts identified from recent earnings analysis
- Management Or Ownership Change — Forward integration into auto components manufacturing creates new revenue streams beyond core recycling operations.
- Geographical Expansion — New facility strengthens presence in high-growth industries including solar and OEM segments.
- New Product Or Brand Launch — Entry into EV battery waste management aligns with India's circular economy and sustainability initiatives.
- Regulatory Approval Or License Win — Regulatory approval required to operationalize new battery recycling segment.
What are the key risks in Nupur Recyclers Ltd?
Nupur Recyclers Ltd has 6 key risks worth monitoring
- [HIGH] SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operati — SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operating without required non-promoter shareholder approval since September 2025, representing 94.75% of consolidated turnover.
- [HIGH] Material related party transactions aggregating ₹655 crore require shareholder a — Material related party transactions aggregating ₹655 crore require shareholder approval under SEBI Regulation 23, with transactions spanning multiple subsidiary entities.
- [MEDIUM] LME copper price volatility identified as common headwind across non-ferrous rec — LME copper price volatility identified as common headwind across non-ferrous recycling peers, with Q4 EBITDA pressure noted from commodity price fluctuations.
- [MEDIUM] Freight rate fluctuations cited as operational headwind affecting peer EBITDA ma — Freight rate fluctuations cited as operational headwind affecting peer EBITDA margins in the non-ferrous recycling sector during Q4.
What is Nupur Recyclers Ltd's management guidance for growth?
Nupur Recyclers Ltd's management has provided the following forward guidance
- Revenue outlook: The lack of formal guidance from the management leaves investors to rely on historical performance and sector trends.
- Margin outlook: Not Given
- Capex plan: approximately ₹2,400 Lakhs for acquisition of 51% stake in Tycod Autotech Private Limited; 4.5 acres land purchase at Sampla, Haryana for zinc ingot production capacity
- Management tone: cautious
Is Nupur Recyclers Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Nupur Recyclers Ltd may be worth studying
- Earnings growing at +44.6% YoY
- Cash flow is positive — CFO ₹18 Cr
What is the investment thesis for Nupur Recyclers Ltd?
Nupur Recyclers Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +54.0% YoY
- Growth catalyst: Management Or Ownership Change
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operati
What is the future outlook for Nupur Recyclers Ltd?
Nupur Recyclers Ltd's forward outlook based on current data signals
- Earnings Trend: turning around (inflection up)
- Revenue Trend: stable
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Management Or Ownership Change
- Key Risk: SEBI LODR Regulation 23 violation identified for RPT with Tycod Autotech operati
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.