Jain Resource Recycling share price today
Jain Resource Recycling Ltd · NSE: JAINREC · Recycling · price as of the 4 November 2026 close, updated every trading day · results updated weekly · research updated 4 August 2026
Jain Resource Recycling share price today: ₹280.00 at the NSE close on 4 November 2026, down 27.4% in a year. Jain Resource Recycling (NSE: JAINREC) is worth ₹9,662 crore, trades at a P/E of 26.6 and has closed between ₹270.00 and ₹571.50 over the past 52 weeks. Latest change: foreign funds (FIIs) cut their stake for 4 quarters in a row.
Jain Resource Recycling Ltd's earnings have grown faster than its share price. Earnings per share grew +45.9% in a year while the price moved −27.4%.
The main question: profits are rising, but only −75% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
The price has been falling for 16 weeks, and the P/E is lower than 96% of its own last 1 year. Over the last four quarters, results have been improving, with profit +21.1% on a year earlier, and −75% of the last 3 years' profit came in as cash. What will decide it: whether the cash starts to follow the profit.
What is the Jain Resource Recycling share price today?
Jain Resource Recycling Ltd's share price was ₹280.00 at the close on 4 November 2026. It has been falling for 16 weeks. That is 17.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹270 and ₹572, and at that close it sat 3% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Jain Resource Recycling Ltd is in stage 4. The phase helps read everything below.
Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 29 weeks running.
Nov 2026: ₹280, 17.4% below its 200-day average. The price has been falling for 16 weeks.
- Price ₹280
- 50-day avg ₹293
- 200-day avg ₹339
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 3 Oct 2025 | ₹305 | ₹318 | ₹318 |
| 10 Oct 2025 | ₹347 | ₹320 | ₹319 |
| 17 Oct 2025 | ₹339 | ₹322 | ₹319 |
| 24 Oct 2025 | ₹400 | ₹329 | ₹321 |
| 31 Oct 2025 | ₹386 | ₹340 | ₹325 |
| 7 Nov 2025 | ₹386 | ₹346 | ₹327 |
| 14 Nov 2025 | ₹440 | ₹362 | ₹332 |
| 21 Nov 2025 | ₹428 | ₹376 | ₹337 |
| 28 Nov 2025 | ₹398 | ₹381 | ₹340 |
| 5 Dec 2025 | ₹367 | ₹380 | ₹342 |
| 12 Dec 2025 | ₹383 | ₹381 | ₹344 |
| 19 Dec 2025 | ₹401 | ₹385 | ₹347 |
| 26 Dec 2025 | ₹412 | ₹390 | ₹350 |
| 2 Jan 2026 | ₹422 | ₹393 | ₹353 |
| 9 Jan 2026 | ₹396 | ₹395 | ₹355 |
| 16 Jan 2026 | ₹409 | ₹397 | ₹357 |
| 23 Jan 2026 | ₹378 | ₹395 | ₹359 |
| 1 Feb 2026 | ₹399 | ₹396 | ₹361 |
| 6 Feb 2026 | ₹389 | ₹396 | ₹362 |
| 13 Feb 2026 | ₹383 | ₹396 | ₹364 |
| 20 Feb 2026 | ₹379 | ₹393 | ₹365 |
| 27 Feb 2026 | ₹396 | ₹391 | ₹366 |
| 6 Mar 2026 | ₹415 | ₹393 | ₹367 |
| 13 Mar 2026 | ₹428 | ₹399 | ₹370 |
| 20 Mar 2026 | ₹441 | ₹406 | ₹373 |
| 27 Mar 2026 | ₹464 | ₹413 | ₹376 |
| 2 Apr 2026 | ₹463 | ₹418 | ₹379 |
| 10 Apr 2026 | ₹427 | ₹422 | ₹382 |
| 17 Apr 2026 | ₹421 | ₹421 | ₹383 |
| 24 Apr 2026 | ₹411 | ₹420 | ₹385 |
| 30 Apr 2026 | ₹459 | ₹424 | ₹387 |
| 8 May 2026 | ₹572 | ₹437 | ₹392 |
| 15 May 2026 | ₹566 | ₹459 | ₹401 |
| 22 May 2026 | ₹385 | ₹449 | ₹401 |
| 29 May 2026 | ₹374 | ₹440 | ₹400 |
| 4 Jun 2026 | ₹358 | ₹429 | ₹399 |
| 5 Jun 2026 | ₹344 | ₹425 | ₹398 |
| 10 Jun 2026 | ₹338 | ₹417 | ₹397 |
| 12 Jun 2026 | ₹326 | ₹409 | ₹395 |
| 17 Jun 2026 | ₹376 | ₹404 | ₹394 |
| 19 Jun 2026 | ₹377 | ₹402 | ₹394 |
| 24 Jun 2026 | ₹366 | ₹399 | ₹393 |
| 25 Jun 2026 | ₹350 | ₹397 | ₹393 |
| 1 Jul 2026 | ₹351 | ₹391 | ₹392 |
| 3 Jul 2026 | ₹364 | ₹389 | ₹391 |
| 10 Jul 2026 | ₹341 | ₹381 | ₹389 |
| 17 Jul 2026 | ₹329 | ₹373 | ₹386 |
| 24 Jul 2026 | ₹341 | ₹366 | ₹384 |
| 31 Jul 2026 | ₹348 | ₹361 | ₹382 |
| 7 Aug 2026 | ₹308 | ₹354 | ₹379 |
| 14 Aug 2026 | ₹293 | ₹344 | ₹375 |
| 21 Aug 2026 | ₹296 | ₹336 | ₹371 |
| 28 Aug 2026 | ₹288 | ₹327 | ₹367 |
| 4 Sep 2026 | ₹278 | ₹319 | ₹363 |
| 11 Sep 2026 | ₹285 | ₹313 | ₹359 |
| 18 Sep 2026 | ₹276 | ₹308 | ₹356 |
| 25 Sep 2026 | ₹287 | ₹304 | ₹353 |
| 1 Oct 2026 | ₹283 | ₹302 | ₹350 |
| 9 Oct 2026 | ₹289 | ₹299 | ₹347 |
| 16 Oct 2026 | ₹290 | ₹298 | ₹344 |
| 23 Oct 2026 | ₹289 | ₹296 | ₹342 |
| 30 Oct 2026 | ₹270 | ₹293 | ₹339 |
| 4 Nov 2026 | ₹280 | ₹293 | ₹339 |
Price stage: Falling in Oct 2025; Rising from Nov 2025 to Jul 2026; Falling from Jul 2026 to Oct 2026.
Week by week since 2025: did it beat the NIFTY 500 over the past 13 weeks?
Ahead in 18 of 50 weeks
| Week | 13-week return vs NIFTY 500 |
|---|---|
| 3 Oct 2025 | no NIFTY 500 reading |
| 10 Oct 2025 | no NIFTY 500 reading |
| 17 Oct 2025 | no NIFTY 500 reading |
| 24 Oct 2025 | no NIFTY 500 reading |
| 31 Oct 2025 | no NIFTY 500 reading |
| 7 Nov 2025 | no NIFTY 500 reading |
| 14 Nov 2025 | no NIFTY 500 reading |
| 21 Nov 2025 | no NIFTY 500 reading |
| 28 Nov 2025 | no NIFTY 500 reading |
| 5 Dec 2025 | no NIFTY 500 reading |
| 12 Dec 2025 | no NIFTY 500 reading |
| 19 Dec 2025 | no NIFTY 500 reading |
| 26 Dec 2025 | no NIFTY 500 reading |
| 2 Jan 2026 | +34.7% |
| 9 Jan 2026 | +13.7% |
| 16 Jan 2026 | +24.6% |
| 23 Jan 2026 | −1.9% |
| 1 Feb 2026 | +4.3% |
| 6 Feb 2026 | +1.0% |
| 13 Feb 2026 | −11.9% |
| 20 Feb 2026 | −9.1% |
| 27 Feb 2026 | +4.8% |
| 6 Mar 2026 | +17.0% |
| 13 Mar 2026 | +18.6% |
| 20 Mar 2026 | +19.9% |
| 27 Mar 2026 | +24.8% |
| 2 Apr 2026 | +17.6% |
| 10 Apr 2026 | +11.6% |
| 17 Apr 2026 | +2.2% |
| 24 Apr 2026 | +9.5% |
| 30 Apr 2026 | +16.4% |
| 8 May 2026 | +52.3% |
| 15 May 2026 | +52.7% |
| 22 May 2026 | +4.8% |
| 29 May 2026 | −6.7% |
| 4 Jun 2026 | −13.7% |
| 5 Jun 2026 | −22.2% |
| 10 Jun 2026 | −28.6% |
| 12 Jun 2026 | −37.6% |
| 17 Jun 2026 | −23.4% |
| 19 Jun 2026 | −14.1% |
| 24 Jun 2026 | −13.7% |
| 25 Jun 2026 | −15.9% |
| 1 Jul 2026 | −24.3% |
| 3 Jul 2026 | −39.7% |
| 10 Jul 2026 | −43.5% |
| 17 Jul 2026 | −17.6% |
| 24 Jul 2026 | −9.8% |
| 31 Jul 2026 | −7.1% |
| 7 Aug 2026 | −15.9% |
| 14 Aug 2026 | −17.6% |
| 21 Aug 2026 | −13.4% |
| 28 Aug 2026 | −25.1% |
| 4 Sep 2026 | −26.7% |
| 11 Sep 2026 | −21.1% |
| 18 Sep 2026 | −19.8% |
| 25 Sep 2026 | −15.2% |
| 1 Oct 2026 | −16.3% |
| 9 Oct 2026 | −8.9% |
| 16 Oct 2026 | −7.3% |
| 23 Oct 2026 | −8.7% |
| 30 Oct 2026 | −15.8% |
| 4 Nov 2026 | −1.5% |
Over the last 1 year the share price moved −8% while the NIFTY 500 moved −5%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 22 May 2026. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What changed at Jain Resource Recycling this quarter?
Three changes stood out: foreign funds (FIIs) cut their stake for 4 quarters in a row, revenue up on a year earlier for 5 quarters in a row (every quarter we can compare) and profit up on a year earlier for 4 quarters in a row.
Foreign funds (FIIs) cut their stake for 4 quarters in a row
From 6.4% to 0.8% of the company by the September 2026 quarter.
Revenue up on a year earlier for 5 quarters in a row (every quarter we can compare)
In the June 2026 quarter revenue was ₹2,724 crore, +75.9% on a year earlier.
Profit up on a year earlier for 4 quarters in a row
In the June 2026 quarter profit was ₹69 crore, +21.1% on a year earlier.
What are Jain Resource Recycling's latest quarterly results?
For April to June 2026 (the quarter ended 30 June 2026), Jain Resource Recycling reported revenue of ₹2,724 crore, up 75.9% from ₹1,549 crore a year earlier, and a profit of ₹69.0 crore, up 21.1% from ₹57.0 crore.
Jain Resource Recycling results: April to June 2026 against a year earlier
| Measure | April to June 2026 | April to June 2025 | Change |
|---|---|---|---|
| Revenue | ₹2,724 crore | ₹1,549 crore | +75.9% |
| Profit | ₹69.0 crore | ₹57.0 crore | +21.1% |
| Earnings per share | ₹2.01 | ₹1.75 | +14.9% |
| Operating margin | 4.0% | 6.0% | −2.0 points |
The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).
Jain Resource Recycling's management discussed these results on a call held on 4 August 2026; what it said is further down this page.
From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.
What is the Jain Resource Recycling share price history?
Jain Resource Recycling closed at ₹280.00 on 4 November 2026, down 27.4% from ₹385.85 a year earlier (7 November 2025). Its highest weekly close since October 2025 was ₹571.50 on 8 May 2026.
Jain Resource Recycling share price: then and now
| When | Close | Change to 4 Nov 2026 |
|---|---|---|
| 1 week ago · 30 Oct 2026 | ₹270.00 | +3.7% |
| 1 month ago · 1 Oct 2026 | ₹282.50 | −0.9% |
| 6 months ago · 8 May 2026 | ₹571.50 | −51.0% |
| 1 year ago · 7 Nov 2025 | ₹385.85 | −27.4% |
| Earliest weekly close in our records · 3 Oct 2025 | ₹304.58 | −8.1% |
| Highest weekly close since October 2025, also the 52-week high · 8 May 2026 | ₹571.50 | −51.0% |
| Lowest weekly close since October 2025, also the 52-week low · 30 Oct 2026 | ₹270.00 | +3.7% |
Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.
63 weekly closes from 3 October 2025 to 4 November 2026.
What is the latest news on Jain Resource Recycling?
4 Nov 2026: Jain Resource Recycling closed at ₹280.00, up 3.7% on the week and down 0.9% on the month. 4 Aug 2026: Jain Resource Recycling held its results call for April to June 2026. Management guided: Lead and copper volumes expected to grow in FY27; value-added copper production should streamline by end-Q2/early-Q3 and lift copper operating profit by approximately 2%; lead capacity addition awaits approval.
Earlier
- Results for April to June 2026: Revenue up 75.9% and profit up 21.1% on a year earlier.
What dividend does Jain Resource Recycling pay?
Jain Resource Recycling has paid no dividend on the NSE since its first NSE close in our records (3 October 2025), the start of the period we checked.
No. Jain Resource Recycling Ltd paid out 0% of its profit as dividends in each of its last 4 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.
From the NSE corporate-actions record, read 5 November 2026.
What did Jain Resource Recycling management say on the latest results call?
On the call for April to June 2026, held on 4 August 2026, Jain Resource Recycling's management guided: Lead and copper volumes expected to grow in FY27; value-added copper production should streamline by end-Q2/early-Q3 and lift copper operating profit by approximately 2%; lead capacity addition awaits approval.
“I feel there are strong quarters ahead this year. The current quarter may not be strong, but I am expecting the other quarters to be strong.”Kamlesh Jain, Chairman & MD, on the call for April to June 2026
What management guided
- FY27 capital spending outlay approximately ₹87 crore, mainly copper value-add, antimony and plastics; plastic facility planned for October to December 2026 with estimated ₹15 crore of spending.
- Antimony project scheduled for October to December 2026 commissioning, with 1,000 metric tons processing capacity and approximately 100 metric tons monthly output.
- Ahmedabad JV operations expected to stabilize during July to September 2026; designed for 72,000 tons annual scrap processing and 25,000 tons copper products at full ramp.
- Recycled-content requirements begin at 5% in 2028 and rise to 10% subsequently.
Management’s own plans and goals, from our notes of the call. A plan is not a result.
Source: the call transcript.
From the call for April to June 2026, 4 August 2026.
What is the future of Jain Resource Recycling? What is changing in the business?
What is changing at Jain Resource Recycling, from the latest results and calls: value-added copper integration, c&y global sourcing jv and operating leverage from scale.
- Value-added copper integration. Unit 3 is intended to move copper from recycled output toward anode, cathode, wire rods, bus bars, profiles and coating, with management aiming for higher operating profit per ton. ⚠ estimate
- C&Y Global sourcing JV. The Ahmedabad JV is framed as a volume driver with US scrap-yard sourcing access and roughly ₹650 crore revenue impact. ⚠ estimate
- Operating leverage from scale. Revenue growth is flowing through to operating profit and profit, with Dec-2025 operating profit more than doubling on a year earlier. ⚠ estimate
- New recycling verticals: Kuwait, antimony and tin. Kuwait battery recycling, antimony extraction and tin capacity expansion add optionality outside the core lead/copper loop. ⚠ estimate
We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.
Our read after the latest results, written 17 May 2026.
What could change the Jain Resource Recycling story? What are the risks?
Tijori flags a drop from ₹51,000 per ton to about ₹42,000 per ton and says sudden price movement still affects copper margin.
The main risks
- Copper operating profit per ton volatility: Tijori flags a drop from ₹51,000 per ton to about ₹42,000 per ton and says sudden price movement still affects copper margin. ✓ fact
- Working-capital stretch: Working capital stretched to 82 days, and management needs to prove normalization to 60-65 days. ✓ fact
Our read after the latest results, written 17 May 2026.
What to watch in Jain Resource Recycling's next results?
When Jain Resource Recycling reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Copper value-added utilization and per-ton operating profit to improve beyond trials; next print should show mix-led uplift.
| What to check (from the call) |
|---|
| Copper value-added utilization and per-ton operating profit to improve beyond trials; next print should show mix-led uplift. |
| Working capital cycle to remain disciplined as copper mix expands; check inventory and receivables for deterioration. |
| Unit 2 restoration and insurance settlement to advance without a production shortfall. |
| Kuwait machinery dispatch and contribution timing to improve once West Asia shipping normalizes. |
Which stock lists is Jain Resource Recycling on?
Jain Resource Recycling is on one of our India lists: 52 week high & low.
Is Jain Resource Recycling profitable?
Jain Resource Recycling Ltd earned ₹69.0 Cr of net profit in the Jun 2026 quarter, +21.1% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹347 Cr. Over 3 years profit has grown 55.7% a year on average. That is 2.5% of the quarter's revenue.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
The same quarter a year earlier earned ₹57.0 Cr.
For the full year, FY26 profit was ₹347 Cr (+55.6% on the year before).
FY26 profit ₹347 Cr (+55.6% on the year before), 55.7% a year over 3 years
- Net profit ₹347
| Quarter | Net profit |
|---|---|
| FY23 | ₹92 |
| FY24 | ₹164 |
| FY25 | ₹223 |
| FY26 | ₹347 |
Growth on a year earlier
- Growth on a year earlier 55.6%
| Quarter | Growth on a year earlier |
|---|---|
| FY23 | – |
| FY24 | 78.3% |
| FY25 | 36% |
| FY26 | 55.6% |
Jun 2026: ₹69.0 Cr (+21.1% on a year earlier), the 4th quarter in a row of growth
- Net profit (quarterly) ₹69.0
| Quarter | Net profit (quarterly) |
|---|---|
| Jun 2024 | ₹60 |
| Sep 2024 | ₹53 |
| Dec 2024 | ₹59 |
| Mar 2025 | ₹53 |
| Jun 2025 | ₹57 |
| Sep 2025 | ₹99 |
| Dec 2025 | ₹126 |
| Mar 2026 | ₹66 |
| Jun 2026 | ₹69 |
Growth on a year earlier
- Growth on a year earlier 21.1%
| Quarter | Growth on a year earlier |
|---|---|
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | −5% |
| Sep 2025 | 86.8% |
| Dec 2025 | 113.6% |
| Mar 2026 | 24.5% |
| Jun 2026 | 21.1% |
Why profit moved: revenue changed +75.9% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.
On average over the last four quarters, profit changed +61.5% and revenue +65.0%. Profit is growing slower than sales: rising costs are taking part of the growth.
FY26-Q4. Growth strong, working capital and copper margin need proof
Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.
How much revenue does Jain Resource Recycling make, and is it growing?
Jain Resource Recycling Ltd reported ₹2,724 Cr of revenue in the Jun 2026 quarter, +75.9% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 3 years it has grown 46.0% a year on average. The last full year, FY26, came in at ₹9,543 Cr.
Revenue is everything the company billed its customers in the period.
Why this happened. The C&Y partnership expands processed copper capacity and secures raw material through a US scrap-yard network. It helps address supply depth, export linkage and volume growth, but it still needs commissioning and ramp-up proof.
The last four reported quarters add to ₹10,718 Cr.
FY26 revenue was ₹9,543 Cr, +48.4% on the year before.
FY26 revenue ₹9,543 Cr (+48.4% on the year before), 46.0% a year over 3 years
- Revenue ₹9,543
| Quarter | Revenue |
|---|---|
| FY23 | ₹3,064 |
| FY24 | ₹4,428 |
| FY25 | ₹6,429 |
| FY26 | ₹9,543 |
Growth on a year earlier
- Growth on a year earlier 48.4%
| Quarter | Growth on a year earlier |
|---|---|
| FY23 | – |
| FY24 | 44.5% |
| FY25 | 45.2% |
| FY26 | 48.4% |
Jun 2026: ₹2,724 Cr (+75.9% on a year earlier), the 5th quarter in a row of growth
- Revenue (quarterly) ₹2,724
| Quarter | Revenue (quarterly) |
|---|---|
| Jun 2024 | ₹1,496 |
| Sep 2024 | ₹1,392 |
| Dec 2024 | ₹1,781 |
| Mar 2025 | ₹1,760 |
| Jun 2025 | ₹1,549 |
| Sep 2025 | ₹2,114 |
| Dec 2025 | ₹2,775 |
| Mar 2026 | ₹3,105 |
| Jun 2026 | ₹2,724 |
Growth on a year earlier
- Growth on a year earlier 75.9%
| Quarter | Growth on a year earlier |
|---|---|
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | 3.5% |
| Sep 2025 | 51.9% |
| Dec 2025 | 55.8% |
| Mar 2026 | 76.4% |
| Jun 2026 | 75.9% |
Recent pace: the last four quarters grew +65.0% on average, against 46.0% a year over the longer run, so this year is growing faster than its own long-run rate.
FY26-Q4. Growth strong, working capital and copper margin need proof
Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.
Watch next
- Metric
- C&Y Global sourcing JV
- Threshold
- Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale
- Which result
- the next result
How much of every ₹100 of sales does Jain Resource Recycling keep?
Jain Resource Recycling Ltd's operating margin was 4.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 4 years it has been between 4.2% and 6.0%. The latest quarter is below every full year in that period.
Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why this happened.The Feb-2026 Tijori summary says Unit 3 was 80 percent complete, with copper anode, cathode and other value-added product phases scheduled through Q1 FY27 to Q3 FY27. If delivered, this changes the business mix from commodity recycling toward stickier, higher-margin copper products. The consistency object, however, says the project had already slipped from an earlier December 2025 expectation.
Why the margin moved: operating margin changed −1.8 percentage points on the year while gross margin changed −3.8 points. So the drop came mostly from the gross margin, which means input costs and prices charged.
FY26: 6.0%, within a range of 4.2% to 6.0% over 4 years
- Operating margin 6.0%
| Quarter | Operating margin |
|---|---|
| FY23 | 4.2% |
| FY24 | 5% |
| FY25 | 6% |
| FY26 | 6% |
Change on the year before (points)
- Change on the year before (points) 0.0 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY23 | – |
| FY24 | +0.8 pts |
| FY25 | +1.0 pts |
| FY26 | 0.0 pts |
Jun 2026: operating margin 4.0% (−2.0 points on a year earlier)
- Operating margin 4.0%
| Quarter | Operating margin |
|---|---|
| Jun 2024 | 6% |
| Sep 2024 | 6% |
| Dec 2024 | 5% |
| Mar 2025 | 5% |
| Jun 2025 | 6% |
| Sep 2025 | 8% |
| Dec 2025 | 7% |
| Mar 2026 | 3.5% |
| Jun 2026 | 4% |
Change on a year earlier (points)
- Change on a year earlier (points) −2.0 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | 0.0 pts |
| Sep 2025 | +2.0 pts |
| Dec 2025 | +2.0 pts |
| Mar 2026 | −1.5 pts |
| Jun 2026 | −2.0 pts |
FY26-Q4. Growth strong, working capital and copper margin need proof
Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.
Watch next
- Metric
- Value-added copper integration
- Threshold
- Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale
- Which result
- the next result
Is Jain Resource Recycling's profit turning into cash?
Over the last 3 years Jain Resource Recycling Ltd's operations used more cash than they brought in, so cash conversion was −75%, a gap worth watching. In FY26 its operations used ₹591 Cr of cash, against ₹347 Cr of profit. After ₹82.0 Cr of spending on assets, free cash was −₹673 Cr: it spent more than its operations brought in.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
Why this happened. The Feb-2026 Tijori summary lists a Kuwait battery recycling spending, an antimony extraction project and tin capacity expansion. These add growth legs, but they are still project-stage and should be discounted until commissioning evidence appears.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY26: operating cash −₹591 Cr against profit ₹347 Cr; −75% of 3 years' profit came in as cash
- Operating cash −₹591
- Net profit ₹347
- Free cash −₹673
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY23 | ₹11 | ₹92 | – |
| FY24 | ₹33 | ₹164 | ₹12 |
| FY25 | ₹4 | ₹223 | −₹23 |
| FY26 | −₹591 | ₹347 | −₹673 |
FY26: operating cash was −170% of profit (−75% over three years)
- Operating cash as % of profit −170%
- Break-even line 100%
| Quarter | Operating cash as % of profit | Break-even line |
|---|---|---|
| FY23 | 12% | 100% |
| FY24 | 20% | 100% |
| FY25 | 2% | 100% |
| FY26 | −170% | 100% |
Why −75% of profit came in as cash: the cash cycle stayed about the same between FY23 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.
What to look at next: the bigger use of cash is spending on new assets, at 2.9× depreciation over three years. The next section checks what that spending is building.
Watch next
- Metric
- New recycling verticals: Kuwait, antimony and tin
- Threshold
- Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale
- Which result
- the next result
Where does Jain Resource Recycling's cash go?
Jain Resource Recycling Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 66 days in FY26, down from 71 days in FY23. It spent ₹130 Cr on assets over the last 3 years. Customers take 18 days to pay, and stock sits for 62 days on average.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
At FY26 sales of ₹9,543 Cr, each day of that cycle ties up about ₹26.1 Cr, so roughly ₹1,726 Cr is tied up in the business at any time.
FY26: customers took 18 days to pay and stock sat for 62 days, about 2.0 months of sales sitting as stock, for a full cycle of 66 days, shorter than FY23's 71.
The full loop: cash goes out to suppliers and production on day 0. Stock sits for 62 days. Customers pay about 18 days after that. Suppliers are paid at 14 days. Together that makes the 66-day cycle.
FY26: a 66-day cash cycle, −5 days compared with FY23
- Cash cycle 66d
- Inventory days 62d
- Debtor days 18d
- Payable days 14d
| Quarter | Cash cycle | Inventory days | Debtor days | Payable days |
|---|---|---|---|---|
| FY23 | 71d | 45d | 30d | 4d |
| FY24 | 63d | 50d | 15d | 2d |
| FY25 | 43d | 42d | 7d | 6d |
| FY26 | 66d | 62d | 18d | 14d |
Spending on assets: ₹130 Cr over the last 3 years, against ₹45.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹45.0 Cr (FY26): assets paid for that are not earning yet.
FY26: capex ₹82.0 Cr, work in progress ₹45.0 Cr, a build-out
- Capex ₹82.0
- Work-in-progress ₹45.0
| Quarter | Capex | Work-in-progress |
|---|---|---|
| FY24 | ₹21 | ₹0 |
| FY25 | ₹27 | ₹3 |
| FY26 | ₹82 | ₹45 |
In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.
What is Jain Resource Recycling's P/E ratio, and how does it compare with its own history?
Jain Resource Recycling Ltd's P/E is 26.6×, near the low end of its own history: it has been lower only 4% of the time. Its usual P/E (the middle reading) is 41.9×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.
P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.
The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹10.44.
P/E 26.6× against a usual 41.9×: near the low end of its own history: it has been lower only 4% of the time
- P/E 25.6×
- Median 41.9×
| Week | P/E | Median |
|---|---|---|
| 1 Oct 2025 | 49.8× | 41.9× |
| 6 Oct 2025 | 48.7× | 41.9× |
| 8 Oct 2025 | 50.9× | 41.9× |
| 10 Oct 2025 | 54.3× | 41.9× |
| 14 Oct 2025 | 51.1× | 41.9× |
| 16 Oct 2025 | 50.0× | 41.9× |
| 20 Oct 2025 | 54.8× | 41.9× |
| 23 Oct 2025 | 48.5× | 41.9× |
| 27 Oct 2025 | 51.6× | 41.9× |
| 29 Oct 2025 | 50.9× | 41.9× |
| 31 Oct 2025 | 50.7× | 41.9× |
| 4 Nov 2025 | 49.6× | 41.9× |
| 7 Nov 2025 | 50.7× | 41.9× |
| 11 Nov 2025 | 57.2× | 41.9× |
| 13 Nov 2025 | 57.8× | 41.9× |
| 17 Nov 2025 | 57.8× | 41.9× |
| 19 Nov 2025 | 57.8× | 41.9× |
| 21 Nov 2025 | 56.2× | 41.9× |
| 25 Nov 2025 | 53.2× | 41.9× |
| 27 Nov 2025 | 51.8× | 41.9× |
| 1 Dec 2025 | 50.4× | 41.9× |
| 3 Dec 2025 | 50.5× | 41.9× |
| 5 Dec 2025 | 48.2× | 41.9× |
| 9 Dec 2025 | 51.9× | 41.9× |
| 11 Dec 2025 | 49.5× | 41.9× |
| 15 Dec 2025 | 53.6× | 41.9× |
| 17 Dec 2025 | 52.8× | 41.9× |
| 19 Dec 2025 | 52.7× | 41.9× |
| 23 Dec 2025 | 55.4× | 41.9× |
| 26 Dec 2025 | 54.2× | 41.9× |
| 30 Dec 2025 | 52.5× | 41.9× |
| 1 Jan 2026 | 53.3× | 41.9× |
| 5 Jan 2026 | 54.3× | 41.9× |
| 7 Jan 2026 | 52.3× | 41.9× |
| 9 Jan 2026 | 52.0× | 41.9× |
| 13 Jan 2026 | 54.4× | 41.9× |
| 16 Jan 2026 | 53.7× | 41.9× |
| 20 Jan 2026 | 51.7× | 41.9× |
| 22 Jan 2026 | 50.2× | 41.9× |
| 27 Jan 2026 | 50.0× | 41.9× |
| 29 Jan 2026 | 53.6× | 41.9× |
| 1 Feb 2026 | 52.4× | 41.9× |
| 3 Feb 2026 | 52.7× | 41.9× |
| 5 Feb 2026 | 52.9× | 41.9× |
| 9 Feb 2026 | 40.7× | 41.9× |
| 11 Feb 2026 | 39.8× | 41.9× |
| 13 Feb 2026 | 38.8× | 41.9× |
| 17 Feb 2026 | 37.9× | 41.9× |
| 19 Feb 2026 | 38.5× | 41.9× |
| 23 Feb 2026 | 38.5× | 41.9× |
| 25 Feb 2026 | 38.4× | 41.9× |
| 27 Feb 2026 | 40.1× | 41.9× |
| 4 Mar 2026 | 40.9× | 41.9× |
| 6 Mar 2026 | 42.0× | 41.9× |
| 10 Mar 2026 | 42.9× | 41.9× |
| 12 Mar 2026 | 43.4× | 41.9× |
| 16 Mar 2026 | 43.1× | 41.9× |
| 18 Mar 2026 | 44.5× | 41.9× |
| 20 Mar 2026 | 44.7× | 41.9× |
| 24 Mar 2026 | 46.2× | 41.9× |
| 27 Mar 2026 | 47.0× | 41.9× |
| 1 Apr 2026 | 47.1× | 41.9× |
| 6 Apr 2026 | 45.6× | 41.9× |
| 8 Apr 2026 | 45.1× | 41.9× |
| 10 Apr 2026 | 43.3× | 41.9× |
| 15 Apr 2026 | 42.5× | 41.9× |
| 17 Apr 2026 | 42.7× | 41.9× |
| 21 Apr 2026 | 42.5× | 41.9× |
| 23 Apr 2026 | 41.5× | 41.9× |
| 27 Apr 2026 | 42.6× | 41.9× |
| 29 Apr 2026 | 46.7× | 41.9× |
| 4 May 2026 | 47.5× | 41.9× |
| 6 May 2026 | 46.9× | 41.9× |
| 8 May 2026 | 57.8× | 41.9× |
| 12 May 2026 | 54.9× | 41.9× |
| 14 May 2026 | 57.3× | 41.9× |
| 18 May 2026 | 45.4× | 41.9× |
| 20 May 2026 | 38.4× | 41.9× |
| 22 May 2026 | 37.7× | 41.9× |
| 26 May 2026 | 39.1× | 41.9× |
| 29 May 2026 | 36.6× | 41.9× |
| 2 Jun 2026 | 35.8× | 41.9× |
| 4 Jun 2026 | 35.0× | 41.9× |
| 8 Jun 2026 | 33.2× | 41.9× |
| 10 Jun 2026 | 33.1× | 41.9× |
| 12 Jun 2026 | 32.0× | 41.9× |
| 16 Jun 2026 | 36.5× | 41.9× |
| 18 Jun 2026 | 36.4× | 41.9× |
| 22 Jun 2026 | 37.2× | 41.9× |
| 24 Jun 2026 | 35.8× | 41.9× |
| 29 Jun 2026 | 33.7× | 41.9× |
| 1 Jul 2026 | 34.4× | 41.9× |
| 3 Jul 2026 | 35.7× | 41.9× |
| 7 Jul 2026 | 33.9× | 41.9× |
| 9 Jul 2026 | 33.5× | 41.9× |
| 13 Jul 2026 | 33.2× | 41.9× |
| 15 Jul 2026 | 33.5× | 41.9× |
| 17 Jul 2026 | 32.2× | 41.9× |
| 21 Jul 2026 | 32.2× | 41.9× |
| 23 Jul 2026 | 33.0× | 41.9× |
| 27 Jul 2026 | 33.2× | 41.9× |
| 29 Jul 2026 | 32.9× | 41.9× |
| 31 Jul 2026 | 34.1× | 41.9× |
| 4 Aug 2026 | 30.6× | 41.9× |
| 6 Aug 2026 | 29.9× | 41.9× |
| 10 Aug 2026 | 28.6× | 41.9× |
| 12 Aug 2026 | 28.7× | 41.9× |
| 14 Aug 2026 | 27.8× | 41.9× |
| 18 Aug 2026 | 28.1× | 41.9× |
| 20 Aug 2026 | 28.4× | 41.9× |
| 24 Aug 2026 | 27.9× | 41.9× |
| 26 Aug 2026 | 27.4× | 41.9× |
| 28 Aug 2026 | 27.3× | 41.9× |
| 1 Sep 2026 | 26.6× | 41.9× |
| 3 Sep 2026 | 26.5× | 41.9× |
| 7 Sep 2026 | 26.6× | 41.9× |
| 9 Sep 2026 | 28.0× | 41.9× |
| 11 Sep 2026 | 27.0× | 41.9× |
| 16 Sep 2026 | 26.0× | 41.9× |
| 18 Sep 2026 | 26.2× | 41.9× |
| 22 Sep 2026 | 27.6× | 41.9× |
| 24 Sep 2026 | 27.6× | 41.9× |
| 28 Sep 2026 | 26.7× | 41.9× |
| 30 Sep 2026 | 27.7× | 41.9× |
| 5 Oct 2026 | 27.5× | 41.9× |
| 7 Oct 2026 | 28.0× | 41.9× |
| 9 Oct 2026 | 27.4× | 41.9× |
| 13 Oct 2026 | 27.3× | 41.9× |
| 15 Oct 2026 | 27.7× | 41.9× |
| 19 Oct 2026 | 27.1× | 41.9× |
| 22 Oct 2026 | 27.4× | 41.9× |
| 26 Oct 2026 | 26.8× | 41.9× |
| 28 Oct 2026 | 26.6× | 41.9× |
| 30 Oct 2026 | 25.6× | 41.9× |
Earnings per share, 12 months
- Earnings per share, 12 months ₹11
| Week | Earnings per share, 12 months |
|---|---|
| 1 Oct 2025 | – |
| 6 Oct 2025 | – |
| 8 Oct 2025 | – |
| 10 Oct 2025 | – |
| 14 Oct 2025 | – |
| 16 Oct 2025 | – |
| 20 Oct 2025 | – |
| 23 Oct 2025 | – |
| 27 Oct 2025 | – |
| 29 Oct 2025 | – |
| 31 Oct 2025 | – |
| 4 Nov 2025 | – |
| 7 Nov 2025 | – |
| 11 Nov 2025 | – |
| 13 Nov 2025 | – |
| 17 Nov 2025 | – |
| 19 Nov 2025 | – |
| 21 Nov 2025 | – |
| 25 Nov 2025 | – |
| 27 Nov 2025 | – |
| 1 Dec 2025 | – |
| 3 Dec 2025 | – |
| 5 Dec 2025 | – |
| 9 Dec 2025 | – |
| 11 Dec 2025 | – |
| 15 Dec 2025 | – |
| 17 Dec 2025 | – |
| 19 Dec 2025 | – |
| 23 Dec 2025 | – |
| 26 Dec 2025 | – |
| 30 Dec 2025 | – |
| 1 Jan 2026 | ₹8 |
| 5 Jan 2026 | ₹8 |
| 7 Jan 2026 | ₹8 |
| 9 Jan 2026 | ₹8 |
| 13 Jan 2026 | ₹8 |
| 16 Jan 2026 | ₹8 |
| 20 Jan 2026 | ₹8 |
| 22 Jan 2026 | ₹8 |
| 27 Jan 2026 | ₹8 |
| 29 Jan 2026 | ₹8 |
| 1 Feb 2026 | ₹8 |
| 3 Feb 2026 | ₹8 |
| 5 Feb 2026 | ₹8 |
| 9 Feb 2026 | ₹8 |
| 11 Feb 2026 | ₹8 |
| 13 Feb 2026 | ₹8 |
| 17 Feb 2026 | ₹8 |
| 19 Feb 2026 | ₹8 |
| 23 Feb 2026 | ₹8 |
| 25 Feb 2026 | ₹8 |
| 27 Feb 2026 | ₹8 |
| 4 Mar 2026 | ₹8 |
| 6 Mar 2026 | ₹8 |
| 10 Mar 2026 | ₹8 |
| 12 Mar 2026 | ₹8 |
| 16 Mar 2026 | ₹8 |
| 18 Mar 2026 | ₹8 |
| 20 Mar 2026 | ₹8 |
| 24 Mar 2026 | ₹8 |
| 27 Mar 2026 | ₹8 |
| 1 Apr 2026 | ₹10 |
| 6 Apr 2026 | ₹10 |
| 8 Apr 2026 | ₹10 |
| 10 Apr 2026 | ₹10 |
| 15 Apr 2026 | ₹10 |
| 17 Apr 2026 | ₹10 |
| 21 Apr 2026 | ₹10 |
| 23 Apr 2026 | ₹10 |
| 27 Apr 2026 | ₹10 |
| 29 Apr 2026 | ₹10 |
| 4 May 2026 | ₹10 |
| 6 May 2026 | ₹10 |
| 8 May 2026 | ₹10 |
| 12 May 2026 | ₹10 |
| 14 May 2026 | ₹10 |
| 18 May 2026 | ₹10 |
| 20 May 2026 | ₹10 |
| 22 May 2026 | ₹10 |
| 26 May 2026 | ₹10 |
| 29 May 2026 | ₹10 |
| 2 Jun 2026 | ₹10 |
| 4 Jun 2026 | ₹10 |
| 8 Jun 2026 | ₹10 |
| 10 Jun 2026 | ₹10 |
| 12 Jun 2026 | ₹10 |
| 16 Jun 2026 | ₹10 |
| 18 Jun 2026 | ₹10 |
| 22 Jun 2026 | ₹10 |
| 24 Jun 2026 | ₹10 |
| 29 Jun 2026 | ₹10 |
| 1 Jul 2026 | ₹10 |
| 3 Jul 2026 | ₹10 |
| 7 Jul 2026 | ₹10 |
| 9 Jul 2026 | ₹10 |
| 13 Jul 2026 | ₹10 |
| 15 Jul 2026 | ₹10 |
| 17 Jul 2026 | ₹10 |
| 21 Jul 2026 | ₹10 |
| 23 Jul 2026 | ₹10 |
| 27 Jul 2026 | ₹10 |
| 29 Jul 2026 | ₹10 |
| 31 Jul 2026 | ₹10 |
| 4 Aug 2026 | ₹10 |
| 6 Aug 2026 | ₹10 |
| 10 Aug 2026 | ₹10 |
| 12 Aug 2026 | ₹10 |
| 14 Aug 2026 | ₹10 |
| 18 Aug 2026 | ₹10 |
| 20 Aug 2026 | ₹10 |
| 24 Aug 2026 | ₹10 |
| 26 Aug 2026 | ₹10 |
| 28 Aug 2026 | ₹10 |
| 1 Sep 2026 | ₹10 |
| 3 Sep 2026 | ₹10 |
| 7 Sep 2026 | ₹10 |
| 9 Sep 2026 | ₹10 |
| 11 Sep 2026 | ₹10 |
| 16 Sep 2026 | ₹10 |
| 18 Sep 2026 | ₹10 |
| 22 Sep 2026 | ₹10 |
| 24 Sep 2026 | ₹10 |
| 28 Sep 2026 | ₹10 |
| 30 Sep 2026 | ₹11 |
| 5 Oct 2026 | ₹11 |
| 7 Oct 2026 | ₹11 |
| 9 Oct 2026 | ₹11 |
| 13 Oct 2026 | ₹11 |
| 15 Oct 2026 | ₹11 |
| 19 Oct 2026 | ₹11 |
| 22 Oct 2026 | ₹11 |
| 26 Oct 2026 | ₹11 |
| 28 Oct 2026 | ₹11 |
| 30 Oct 2026 | ₹11 |
Why the multiple is where it is: over the past year earnings per share moved +45.9% while the price moved −27.4%. Earnings did better than the price, which pulled the multiple down within its own range.
In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.
Is the Jain Resource Recycling business getting better or worse?
Jain Resource Recycling Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 6 quarters of 1 measure, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue +48.4% in FY26, profit +55.6%
- Revenue growth 48.4%
| Quarter | Revenue growth |
|---|---|
| FY23 | – |
| FY24 | 44.5% |
| FY25 | 45.2% |
| FY26 | 48.4% |
Profit growth, EPS growth
- Profit growth 55.6%
- EPS growth 45.9%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY23 | – | – |
| FY24 | 78.3% | 74.1% |
| FY25 | 36% | −13.3% |
| FY26 | 55.6% | 45.9% |
Three growth lines over twelve quarters
- Revenue 75.9%
| Quarter | Revenue |
|---|---|
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | – |
| Jun 2025 | 3.5% |
| Sep 2025 | 51.9% |
| Dec 2025 | 55.8% |
| Mar 2026 | 76.4% |
| Jun 2026 | 75.9% |
Profit, EPS
- Profit 21.1%
- EPS 18.8%
| Quarter | Profit | EPS |
|---|---|---|
| Jun 2024 | – | – |
| Sep 2024 | – | – |
| Dec 2024 | – | – |
| Mar 2025 | – | – |
| Jun 2025 | −5% | – |
| Sep 2025 | 86.8% | – |
| Dec 2025 | 113.6% | – |
| Mar 2026 | 24.5% | 2.3% |
| Jun 2026 | 21.1% | 18.8% |
ROCE: the return line, worked out each quarter
- ROCE 49.8%
| Quarter | ROCE |
|---|---|
| Jun 2024 | – |
| Sep 2024 | – |
| Dec 2024 | – |
| Mar 2025 | 51.9% |
| Jun 2025 | 50.9% |
| Sep 2025 | 42.4% |
| Dec 2025 | 51.7% |
| Mar 2026 | 48.1% |
| Jun 2026 | 49.8% |
Why it matters: with too little history, we say so rather than guess a direction.
One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.
There are fewer than eight usable quarters, so this page does not guess a direction from so little history.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | +48.4% | +46.0% | — | — |
| Profit | +55.6% | +55.7% | — | — |
| EPS | +45.9% | +30.1% | — | — |
| Share price | −27.4% | — | — | — |
What is the Jain Resource Recycling story, and has it been checked?
Jain Resource Recycling Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: EARLY EXPANSION WITH EXECUTION RISK. Still open: Tijori flags a drop from Rs 51,000 per ton to about Rs 42,000 per ton and says sudden price movement still affects copper margin.
NOT YET CHECKED
From the numbers. Shareholding shows FIIs…
From the price. Price stage 4, week 16, below its 200-day line.
Where they disagree. Shareholding shows FIIs down from 6.42 percent in Sep-2025 to 3.02 percent in Mar-2026, while DIIs rose from 6.43 percent to 10.04 percent.
What is not proven yet. Tijori flags a drop from Rs 51,000 per ton to about Rs 42,000 per ton and says sudden price movement still affects copper margin.
The test written in advance. Copper EBITDA per ton volatility. Measured by: Copper EBITDA per ton volatility Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale by the next result.
The test written in advance. Working-capital stretch. Measured by: Working-capital stretch Working-capital days and inventory days in the next quarterly update by the next result.
The test written in advance. Project commissioning delays. Measured by: Project commissioning delays Commissioning proof for wire rods, bus bars, coating, C&Y Ahmedabad, Kuwait and antimony by the next result.
What the company does. The financial base is accelerating: TTM revenue is Rs 8,198 Cr, TTM PAT is Rs 334 Cr, and Dec-2025 quarterly revenue was Rs 2,775 Cr versus Rs 1,781 Cr a year earlier. The key catalyst is forward integration: Unit 3 copper anode, cathode, wire rods, bus bars and coating are intended to lift copper EBITDA per ton, while the C&Y JV and Kuwait/antimony projects add volume and geography. The watch-out is management consistency: Tijori flags delayed value-added copper timelines, copper EBITDA volatility, working-capital narrative shift, and retroactive revenue-guidance framing.
The key numbers to watch, and the level that would change the picture
| Measure | Now | Why it matters |
|---|---|---|
| Value-added copper integration | HIGH | Unit 3 is intended to move copper from recycled output toward anode, cathode, wire rods, bus bars, profiles and coating, with… |
| C&Y Global sourcing JV | MEDIUM HIGH | The Ahmedabad JV is framed as a volume driver with US scrap-yard sourcing access and roughly Rs 650 Cr revenue impact. |
| Operating leverage from scale | MEDIUM HIGH | Revenue growth is flowing through to operating profit and PAT, with Dec-2025 operating profit more than doubling YoY. |
| New recycling verticals: Kuwait, antimony… | MEDIUM | Kuwait battery recycling, antimony extraction and tin capacity expansion add optionality outside the core lead/copper loop. |
| Interest-cost reduction from IPO proceeds | MEDIUM | IPO proceeds allocated to debt repayment are expected to save Rs 20-22 Cr in annual finance costs. |
Everything further down this page is evidence for or against these.
FY26-Q1FY26-Q4
- 1 · Operating leveragebuilding
- 2 · Value-added mixbuilding
- 3 · Management changequiet
- 4 · Paying down debtquiet
- 5 · Regulatory approvalbuilding
- 6 · Order-book winsquiet
- 7 · Consolidationquiet
- 8 · Demerger or value unlockquiet
- 9 · Buybackquiet
- 10 · New geographiesbuilding
- 11 · More business from existing customersquiet
- 12 · New product launchquiet
- 13 · Mandatory normsquiet
- 14 · A bigger market to servequiet
- 15 · Market-share gainsquiet
- 16 · Asset qualitybuilding
Lever 2 · Value-added mix: building. Unit 3 is intended to move copper from recycled output toward anode, cathode, wire rods, bus bars, profiles and coating, with management aiming for higher EBITDA per ton. What proves it keeps working: Value-added copper integration. It stops working if Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale.
Lever 10 · New geographies: building. The Ahmedabad JV is framed as a volume driver with US scrap-yard sourcing access and roughly Rs 650 Cr revenue impact. What proves it keeps working: C&Y Global sourcing JV. It stops working if Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale.
Lever 1 · Operating leverage: building. Revenue growth is flowing through to operating profit and PAT, with Dec-2025 operating profit more than doubling YoY. What proves it keeps working: Operating leverage from scale. It stops working if Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale.
Lever 16 · Asset quality: building. Kuwait battery recycling, antimony extraction and tin capacity expansion add optionality outside the core lead/copper loop. What proves it keeps working: New recycling verticals: Kuwait, antimony and tin. It stops working if Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale.
Sources: our stock research file (17 May 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
The whole page in one table. Each row links to its section.
| Section | Where it is now | The one thing to watch next |
|---|---|---|
| Margin | 3.5% | Value-added copper integration |
| Revenue | ₹3,105 Cr | C&Y Global sourcing JV |
| Asset quality | see the section | New recycling verticals: Kuwait, antimony and tin |
| Safety | see the section | Interest-cost reduction from IPO proceeds |
Did Jain Resource Recycling management deliver what it promised?
What Jain Resource Recycling Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
FY27 Capex Plan Reduced Without Reconciliation · 4 August 2026. Management's FY27 capex plan has fallen materially without reconciliation. In February 2026 it indicated approximately INR110 crores and in May 2026 INR115 to INR120 crores, but the August 2026 call guided to approximately 87 crores - a roughly 21%-28% reduction from those prior plans; management did not explain whether projects were deferred, resized, or excluded.
Hedging Policy Description Changed · 4 August 2026. May 2026 described a material exception in copper hedging: the company said it did not hedge the sales formula and would change the system going forward. August 2026 instead said there was no change in policy and presented 100% hedging as the longstanding model, without clarifying whether the earlier unhedged formula exposure had been eliminated.
Copper EBITDA Guidance Revision · 18 May 2026. During the Feb 2026 call, management projected that copper EBITDA would stabilize within a range of 48,000 to 50,000 per ton. However, in the May 2026 call, management significantly reduced the normalized steady-state EBITDA guidance for existing segments to between 30,000 and 32,000 per ton, citing market volatility as the primary driver.
De-escalation of Growth Goals · 18 May 2026. Management asserted in the Feb 2026 call that they were very confident in maintaining their historical growth trajectory of 40% to 50% year-on-year. In the May 2026 call, this outlook was adjusted downward to a regular double-digit expectation, with specific guidance of only 10% to 15% for the lead segment and a potential to exceed 15% for copper.
Every quote above is taken word for word from the company’s own earnings calls.
What is Jain Resource Recycling management's track record?
Track record assessment is moot given management gate failure from governance or integrity concerns identified above.
Regulatory and governance record
D/E exploded 0.9→31 post-IPO, negative operating cash flow Rs-403 Cr, this constitutes an automatic management gate failure per Layer 2 rules.
Checked 15 March 2026.
How much does Jain Resource Recycling earn on its capital?
Jain Resource Recycling Ltd earned a ROCE of 26% in FY26. That is up from a low of 23% in FY24. Its return on capital used (ROIC) is 2.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 3.6% net margin and 2.82× asset turnover (sales divided by assets).
Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.
Why the return is what it is (FY26): a 3.6% net margin × 2.82× asset turnover × 2.17× leverage (assets divided by equity) ≈ 22.0% on equity. The margin does its share; borrowing is a big part of it.
The key test, return on capital used minus the cost of capital: 14.8% − 12.0% = +2.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.
The 14.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 17.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY26: ROCE 26%, the climb back from FY24's 23%
- ROCE 26%
- ROIC (annual) 17.6%
- Cost of capital 12%
| Quarter | ROCE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY24 | 23% | 15.3% | 12% |
| FY25 | 27% | 18.3% | 12% |
| FY26 | 26% | 17.6% | 12% |
Q4 FY26: ROCE 33.7% (last 12 months)
- ROCE (12 months) 33.7%
| Quarter | ROCE (12 months) |
|---|---|
| Q2 FY25 | 23.4% |
| Q3 FY25 | – |
| Q4 FY25 | 47% |
| Q2 FY26 | 30.4% |
| Q3 FY26 | – |
| Q4 FY26 | 33.7% |
| Q1 FY27 | – |
Does Jain Resource Recycling have too much debt?
Jain Resource Recycling Ltd has total debt of ₹1,276 Cr against shareholder equity of ₹1,558 Cr as of Jun 2026, so its debt is 0.82× its equity. Year by year, that ratio went from 1.28 in FY25 to 0.82 in FY26. Keep that borrowing in mind when reading the returns on this page.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY26: debt ₹1,276 Cr, 0.82× equity
- Total debt ₹1,276
| Quarter | Total debt |
|---|---|
| FY25 | ₹928 |
| FY26 | ₹1,276 |
Debt-to-equity
- Debt-to-equity 0.82×
| Quarter | Debt-to-equity |
|---|---|
| FY25 | 1.28× |
| FY26 | 0.82× |
Jun 2026: debt ₹1,276 Cr, debt-to-equity 0.82
- Total debt (quarterly) ₹1,276
| Quarter | Total debt (quarterly) |
|---|---|
| Jun 2024 | ₹914 |
| Sep 2024 | ₹976 |
| Mar 2025 | ₹928 |
| Jun 2025 | ₹928 |
| Sep 2025 | ₹1,294 |
| Dec 2025 | ₹1,294 |
| Mar 2026 | ₹1,276 |
| Jun 2026 | ₹1,276 |
Debt-to-equity
- Debt-to-equity 0.82×
| Quarter | Debt-to-equity |
|---|---|
| Jun 2024 | 2.48× |
| Sep 2024 | 2.03× |
| Mar 2025 | 1.28× |
| Jun 2025 | 1.28× |
| Sep 2025 | 0.95× |
| Dec 2025 | 0.95× |
| Mar 2026 | 0.82× |
| Jun 2026 | 0.82× |
What is the Jain Resource Recycling shareholding pattern?
Foreign institutions cut their stake in Jain Resource Recycling Ltd by 5.6 percentage points over 4 quarters, the biggest change among its owners. Foreign institutions now own 0.8% of the company. Domestic institutions moved +3.1 points over the same period, to 9.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.
Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.
Over the last two years: Foreign institutions: −5.6 points over 4 quarters, to 0.8%; Domestic institutions: +3.1 points over 4 quarters, to 9.5%; Promoters: +0.0 points over 4 quarters, to 73.6%.
Why the owners changed: foreign institutions moved −5.6 points and domestic institutions +3.1 points over 4 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.
Foreign institutions cut their stake by 5.6 points over 4 quarters
- Promoters 73.59%
- Foreign inst. 0.79%
- Domestic inst. 9.54%
- Public 16.04%
| Quarter | Promoters | Foreign inst. | Domestic inst. | Public |
|---|---|---|---|---|
| Sep 2025 | 73.59% | 6.42% | 6.43% | 13.56% |
| Dec 2025 | 73.59% | 3.7% | 8.58% | 14% |
| Mar 2026 | 73.59% | 3.02% | 10.04% | 13.28% |
| Jun 2026 | 73.59% | 1.23% | 9.68% | 15.45% |
| Sep 2026 | 73.59% | 0.79% | 9.54% | 16.04% |
How far is Jain Resource Recycling from balance-sheet trouble?
For Jain Resource Recycling Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
Why this happened. The Oct-2025 Tijori summary says Rs 375 Cr of IPO proceeds were allocated to debt repayment, with annual finance-cost savings of Rs 20-22 Cr. This supports PAT conversion while growth projects ramp.
Watch next
- Metric
- Interest-cost reduction from IPO proceeds
- Threshold
- Copper EBITDA per ton returning toward Rs 48,000-50,000 and then Rs 50,000-55,000 as value-added products scale
- Which result
- the next result
How does Jain Resource Recycling rank in its industry?
48.1 out of 100, rank 5 of 9 in Recycling, with 83% of the evidence available.
Jain Resource Recycling Ltd scores 48.1 out of 100 against the 9 companies it is compared with in Recycling, ranking 5. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.
The four parts add up to the total exactly: 20.4 + 15 + 9.2 + 3.5 = 48.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.
What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.
Which companies is Jain Resource Recycling compared with?
Jain Resource Recycling ranks 5 of 9 Recycling companies on the 4-Factor Sector Score, with 48.1 out of 100.
- 1Bhagyanagar India LtdBHAGYANGR · Most evidence points up · 69% evidence72.7out of 100
How the score adds up
Growth & earnings 37.0/43.75 · Revenue 49.1% · Profit 100% · Operating margin change 1.7 points · 88% evidenceCapital efficiency 16.1/31.25 · ROCE 20.2% · Operating margin 5% · 100% evidenceValuation 19.6/25 · P/E 2.3× · PEG 0.22 · 65% evidenceRelative strength: no reading this week · its 20 points are shared across the other threeExact sum: 37 + 16.1 + 19.6 = 72.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. - 2NILE LtdNILE · Evidence leans up · 76% evidence52.5out of 100
How the score adds up
Growth & earnings 15.9/43.75 · Revenue 17% · Profit 12.1% · Operating margin change -5.3 points · 88% evidenceCapital efficiency 17.1/31.25 · ROCE 25.3% · Operating margin 3.8% · 100% evidenceValuation 19.5/25 · P/E 9.6× · PEG 0.18 · 100% evidenceRelative strength: no reading this week · its 20 points are shared across the other threeExact sum: 15.9 + 17.1 + 19.5 = 52.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. - 3Pondy Oxides & Chemicals LtdPOCL · basing · Evidence leans up · 96% evidence52.2out of 100
How the score adds up
Growth & earnings 26.0/35 · Revenue 48.5% · Profit 100% · Operating margin change -1 points · 88% evidenceCapital efficiency 15.8/25 · ROCE 23.4% · Operating margin 6% · 100% evidenceValuation 9.3/20 · P/E 21.2× · PEG 2.57 · 100% evidenceRelative strength 1.1/20 · Lead over its industry -20.2% · Lead over NIFTY 500 -17% · 1 year -27.6% · 100% evidence · 0 of 12 weeks aheadExact sum: 26 + 15.8 + 9.3 + 1.1 = 52.2 · What this means: Earnings are strong; relative strength in its sector is -20.2% and the one-year return is -27.6%. - 4Eco Recycling LtdECORECO · quiet · Evidence leans up · 63% evidence52.0out of 100
How the score adds up
Growth & earnings 12.8/35 · Revenue 31.9% · Profit 3.2% · Operating margin change 1.5 points · 83% evidenceCapital efficiency 19.4/25 · ROCE 30.8% · Operating margin 56.3% · 76% evidenceValuation 9.7/20 · P/E 32.8× · PEG — · 50% evidenceRelative strength 10.1/20 · Lead over its industry — · Lead over NIFTY 500 -2.7% · 1 year -32.4% · 25% evidence · 0 of 5 weeks aheadExact sum: 12.8 + 19.4 + 9.7 + 10.1 = 52 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 5Jain Resource Recycling Ltd this pageJAINREC · basing · Evidence leans down · 83% evidence48.1out of 100
How the score adds up
Growth & earnings 20.4/35 · Revenue 65.3% · Profit 62.2% · Operating margin change -2 points · 88% evidenceCapital efficiency 15.0/25 · ROCE 25.7% · Operating margin 4% · 100% evidenceValuation 9.2/20 · P/E 25.6× · PEG 1.83 · 65% evidenceRelative strength 3.5/20 · Lead over its industry -27.8% · Lead over NIFTY 500 -24.3% · 1 year -30.1% · 70% evidence · 0 of 12 weeks aheadExact sum: 20.4 + 15 + 9.2 + 3.5 = 48.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 6Ganesha Ecosphere LtdGANECOS · quiet · Evidence leans down · 76% evidence47.5out of 100
How the score adds up
Growth & earnings 17.0/35 · Revenue 19.1% · Profit 30.8% · Operating margin change 6 points · 74% evidenceCapital efficiency 8.5/25 · ROCE 5.6% · Operating margin 12% · 100% evidenceValuation 10.0/20 · P/E 31.5× · PEG 0.43 · 100% evidenceRelative strength 12.0/20 · Lead over its industry — · Lead over NIFTY 500 10.9% · 1 year -18.1% · 25% evidence · 6 of 12 weeks aheadExact sum: 17 + 8.5 + 10 + 12 = 47.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 7Antony Waste Handling Cell LtdAWHCL · quiet · Evidence leans down · 63% evidence40.5out of 100
How the score adds up
Growth & earnings 9.8/35 · Revenue 11.8% · Profit -32% · Operating margin change -8 points · 83% evidenceCapital efficiency 10.7/25 · ROCE 11.2% · Operating margin 14.3% · 76% evidenceValuation 12.5/20 · P/E 13.4× · PEG — · 50% evidenceRelative strength 7.5/20 · Lead over its industry — · Lead over NIFTY 500 -35.3% · 1 year -49.2% · 25% evidence · 0 of 12 weeks aheadExact sum: 9.8 + 10.7 + 12.5 + 7.5 = 40.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 8Gravita India LtdGRAVITA · basing · Evidence leans down · 100% evidence39.6out of 100
How the score adds up
Growth & earnings 15.5/35 · Revenue 23.9% · Profit 9.7% · Operating margin change -1 points · 100% evidenceCapital efficiency 11.7/25 · ROCE 16.2% · Operating margin 9% · 100% evidenceValuation 6.0/20 · P/E 25.7× · PEG 1.99 · 100% evidenceRelative strength 6.4/20 · Lead over its industry -14.6% · Lead over NIFTY 500 -11.2% · 1 year -16.7% · 100% evidence · 3 of 12 weeks aheadExact sum: 15.5 + 11.7 + 6 + 6.4 = 39.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. - 9Namo eWaste Management LtdNAMOEWASTE · leader · Too little evidence to rank firmly · 47% evidence62.8out of 100
How the score adds up
Growth & earnings 19.4/35 · Revenue — · Profit — · Operating margin change 3 points · 15% evidenceCapital efficiency 14.9/25 · ROCE 21.3% · Operating margin 11% · 75% evidenceValuation 8.5/20 · P/E 54.2× · PEG — · 15% evidenceRelative strength 20.0/20 · Lead over its industry 52% · Lead over NIFTY 500 55.4% · 1 year 85.5% · 100% evidence · 11 of 12 weeks aheadExact sum: 19.4 + 14.9 + 8.5 + 20 = 62.8 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose.
Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.
The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.
Related companies: Recycling, all 9 compared on one page.
Which companies are close to Jain Resource Recycling in size?
Jain Resource Recycling is the 2nd largest of 9 Recycling companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Gravita India. Just below it: Pondy Oxides & Chemicals, Ganesha Ecosphere, Eco Recycling, Antony Waste Handling Cell and Namo eWaste Management.
Recycling companies close in size
- Gravita India Ltd ₹10,244 crore
- Jain Resource Recycling Ltd ₹9,317 crore
- Pondy Oxides & Chemicals Ltd ₹3,033 crore
- Ganesha Ecosphere Ltd ₹2,678 crore
- Eco Recycling Ltd ₹789 crore
- Antony Waste Handling Cell Ltd ₹785 crore
- Namo eWaste Management Ltd ₹778 crore
All 9 Recycling companies, largest first
Companies close in size in other industries
- SBFC Finance Ltd ₹9,381 crore · Finance & Investments - MSME Lending
- Lloyds Enterprises Ltd ₹9,323 crore · Trading
- Jain Resource Recycling Ltd ₹9,317 crore
- Lemon Tree Hotels Ltd ₹9,313 crore · Hotels
- Titagarh Rail Systems Ltd ₹9,227 crore · Railways
What else do people ask about Jain Resource Recycling?
What is Jain Resource Recycling's share price today?
Jain Resource Recycling Ltd's share price is ₹280.00, −27.4% over the past year. The whole company is worth ₹9,662 Cr on the market.
In the last 52 weeks it traded between ₹270 to ₹572; today it is 3% of the way up from the low, 17.4% below its 200-day average (as of 4 November 2026).
What were Jain Resource Recycling's latest quarterly results?
Jain Resource Recycling Ltd reported revenue of ₹2,724 Cr and net profit of ₹69.0 Cr for the Jun 2026 quarter. Revenue rose 75.9% and profit rose 21.1% compared with a year earlier. Earnings per share were ₹2.01.
The operating margin was 4.0%, 2.0 percentage points lower than a year earlier (as of 4 November 2026).
What is Jain Resource Recycling's market cap?
Jain Resource Recycling Ltd's market capitalisation is ₹9,662 Cr at a share price of ₹280.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is Jain Resource Recycling performing?
Jain Resource Recycling Ltd's share price has been falling for 16 weeks. In its latest quarter, revenue rose 75.9% and profit rose 21.1% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 29 weeks running (as of 4 November 2026).
Will Jain Resource Recycling's share price go up?
This page does not forecast Jain Resource Recycling Ltd's share price. What it shows instead: the share price is ₹280.00, and it has been falling for 16 weeks. Its P/E of 26.6× is higher than 4% of its own last 1 years (as of 4 November 2026).
Who owns Jain Resource Recycling?
Promoters own 73.6% of Jain Resource Recycling Ltd, foreign institutions 0.8%, domestic institutions 9.5% and the public 16.0% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 5.6 percentage points over 4 quarters (as of 4 November 2026).
Does Jain Resource Recycling have too much debt?
Jain Resource Recycling Ltd has a moderate amount of debt: its debt is 0.82× its equity, and its operating profit is 6 times its interest bill. FY26 borrowings were ₹1,276 Cr against equity of ₹1,561 Cr.
Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026).
Where is Jain Resource Recycling in its business cycle?
Jain Resource Recycling Ltd's FY26 operating margin was 6.0%, against a 4-year range of 4.2% to 6.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 4.0%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the Jain Resource Recycling story?
The main question: profits are rising, but only −75% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is Jain Resource Recycling a stock worth studying right now?
What the numbers show: Jain Resource Recycling Ltd's earnings have grown faster than its share price. Earnings per share grew +45.9% in a year while the price moved −27.4%. The main open question: whether the cash starts to follow the profit.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Is there a Jain Resource Recycling share price forecast for 2026?
What management itself guided: Lead and copper volumes expected to grow in FY27; value-added copper production should streamline by end-Q2/early-Q3 and lift copper operating profit by approximately 2%; lead capacity addition awaits approval.
What is changing at Jain Resource Recycling, from the latest results and calls: value-added copper integration, c&y global sourcing jv and operating leverage from scale. What would change the story: Tijori flags a drop from ₹51,000 per ton to about ₹42,000 per ton and says sudden price movement still affects copper margin.
Where does this page get Jain Resource Recycling's management information?
From Jain Resource Recycling's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results.
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
See the plain-text version of this page.
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