Namo eWaste Management Ltd
NAMOEWASTENamo eWaste Management Ltd's earnings have outrun its stock. EPS grew +69.7% in a year against a +61.9% price move.
The sharpest disagreement: profits are rising, but only −41% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (18 weeks in) while the P/E sits at the 69th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit +133.3% year on year, and −41% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Namo eWaste Management Ltd trades at ₹284, in a confirmed uptrend and 18 weeks into that stage. That is +23.0% against its own 200-day average. It sits at 90% of a 52-week range of ₹137 to ₹300. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 27 straight weeks.
Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹284 it trades +23.0% versus its 200-day average and sits at 90% of its 52-week range (₹137–₹300).
Against the market, two honest reads. Cumulative: over the last 2.0 years the stock moved +86% while the NIFTY 500 moved −4% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 27 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Namo eWaste Management Ltd's story is not scored yet against the markers our research file set on 27 June 2026. Where it sits in its own cycle: EARLY_EXPANSION. Our fortnightly research layers last read it on 27 June 2026.
Our read, 27 June 2026. India's formal e-waste consolidation play: FY26 PAT up 70% YoY on operating leverage; battery recycling at 10% utilization inflecting toward 60-70% in FY27; hydrometallurgy capex unlocks critical minerals margins from 2027.
From the numbers. PE at 62.5th percentile of the sparse 8-quarter history — neither cheap nor expensive on this limited data. Normalized PE 30.4x (vs trailing 45.7x) reflects margin in early expansion phase; cycle_normalized verdict is…
From the price. Price stage 2, week 18 — above its 200-day line, relative strength falling.
From the research. India's formal e-waste consolidation play: FY26 PAT up 70% YoY on operating leverage; battery recycling at 10% utilization inflecting toward 60-70% in FY27; hydrometallurgy capex unlocks critical minerals margins from…
🚨 Where they disagree. PE at 62.5th percentile of the sparse 8-quarter history — neither cheap nor expensive on this limited data. Normalized PE 30.4x (vs trailing 45.7x) reflects margin in early expansion phase; cycle_normalized verdict is NA_SHORT_MARGIN_HISTORY (only 1.5 years of OPM data). EPS is rising (FY26 Rs 6.28 vs FY24 Rs 4.03 on annual basis) but the per-share trajectory is distorted by a share count change (Sep 2023 had EPS 5.99 on Rs 36 crore revenue — pre-equity raise). FIIs have been exiting (from 3.54% Sep 2024 to 0.14% Mar 2026), which at this market cap tier may simply reflect small-cap category migration.
What is proven. India's formal e-waste consolidation play: FY26 PAT up 70% YoY on operating leverage; battery recycling at 10% utilization inflecting toward 60-70% in FY27; hydrometallurgy capex unlocks critical minerals margins from 2027.
What is not proven yet. If battery utilization by end of Q2 FY27 (Sep 2026) remains below 30% (vs the 60-70% full-year target), the OEM onboarding thesis is broken — not a ramp lag but a sourcing constraint. Separately, if the Hyderabad facility does not commence operations by Oct 2026 (two months past the Aug-Sep guide), capex discipline and execution credibility are impaired.
🚨 What would change our mind. If battery utilization by end of Q2 FY27 (Sep 2026) remains below 30% (vs the 60-70% full-year target), the OEM onboarding thesis is broken — not a ramp lag but a sourcing constraint. Separately, if the Hyderabad facility does not commence operations by Oct 2026 (two months past the Aug-Sep guide), capex discipline and execution credibility are impaired.
🚨 Layer 1 read, 27 June 2026 — DROP. Real e-waste growth ramp (PAT +70%) but not cheap, already run, and the growth isn't converting to cash yet. Revenue tripled to 107cr and PAT rose ~70% over the last twelve quarters on the battery-recycling onboarding, a genuine growth story. But the multiple is FAIR not cheap (PE 45.7 at the 62nd percentile) and the stock has already run +100% in a year, and three-year operating cash flow is negative (-12cr) against +29cr PAT — the growth is being absorbed by working capital. The FY27 battery-utilization ramp is the real fuel, but it is forward and binary on OEM onboarding.
What would change Layer 1’s mind. Battery utilization staying below 30% by Q2 FY27 (Sep 2026) — that would mean OEM onboarding is structurally constrained, not a timing lag, and break the ramp thesis; equally, a cash-conversion turn (OCF turning positive as the ramp scales) would push it back toward P1.
The test written in advance. Working Capital Deterioration and Negative OCF — Working Capital Deterioration and Negative OCF by the next result.
The test written in advance. Management Data Inconsistency on Battery Sourcing — Management Data Inconsistency on Battery Sourcing by the next result.
What the company does. Namo eWaste is a formal e-waste recycler with a 12-year track record, 370+ OEM clients (per management in the latest call), and 82,000 MT installed capacity. FY26 delivered revenue up 29% and PAT up 70% as operating leverage took hold; the battery plant (Nashik, operational Aug 2023) is ramping from 10% utilization toward management's target of 60-70% in FY27. The five-year revenue target is anchored on three capacity additions: Hyderabad e-waste (Aug-Sep 2026), Nashik hydrometallurgy pilot (end-CY2026), and Haryana commercial hydrometallurgy (Q2-Q3 FY27).
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Battery Recycling Ramp | HIGH | — | Nashik battery plant at 10% utilization in FY26 (1,200 tons); management targets 60-70% in FY27 (7,500-8,400 tons) as OEM… | Battery utilization does not reach 30%+ by Q2 FY27 — signals OEM onboarding is structurally constrained, not a timing lag. |
| Hyderabad Greenfield Capacity | MEDIUM | — | 25,000 MT/year Hyderabad facility (Rs 20 crore capex, Aug-Sep 2026 target) eliminates Rs 7 crore annual reverse logistics cost… | Hyderabad commissioning slips past Q3 FY27 — two-quarter delay would defer the logistics saving and signal execution risk on the broader capex… |
| Hydrometallurgy Value Chain Integration | HIGH | — | Nashik pilot (1 MT/day, end-CY2026) validates chemistry; Haryana commercial plant (Rs 60 crore, 10 MT/day, Q2-Q3 FY27)… | Nashik pilot fails to achieve >90% recovery efficiency or the government subsidy amount is materially below the 50% floor — the economics of the Rs… |
| E-waste Operating Leverage on Existing Base | MEDIUM | — | 82,000 MT installed e-waste capacity currently at ~50% utilization with scalability to two shifts (manual dismantling process)… | If battery utilization by end of Q2 FY27 (Sep 2026) remains below 30% (vs the 60-70% full-year target), the OEM onboarding thesis is broken — not a… |
🚨 What the surface reading misses. The surface reading is: Negative three-year OCF/PAT signals cash is not converting from earnings — accrual-heavy business The research reads it further: FY25 OCF of -Rs 20 crore was driven by Rs 29 crore WC build (battery plant inventory ramp: sourcing requires 15-25 ton transport minimums creating balance sheet drag) plus Rs 13 crore capex for Nashik battery plant. FY26 OCF recovered to Rs 5 crore as inventory normalized. The business is in capacity investment phase — cash went to growth assets, not a leak.
🚨 What the surface reading misses. The surface reading is: PE 45.7x at 62.5th percentile of own history — above median, moderately elevated The research reads it further: The percentile is computed on only 8 data points spanning ~2 years. This is insufficient to establish a meaningful 10-year cycle. The cycle_normalized verdict is NA_SHORT_MARGIN_HISTORY. Normalized PE of 30.4x (vs trailing 45.7x) per cycle_normalized reflects that current margins are in early expansion — OPM rose from 8% trough to 11-12% in recent quarters, so trailing EPS is somewhat understated vs normalized.
Lever 1 · Operating leverage — BUILDING. Nashik battery plant at 10% utilization in FY26 (1,200 tons); management targets 60-70% in FY27 (7,500-8,400 tons) as OEM onboarding accelerates — battery segment targeted at Rs 200 crore revenue from Rs 18 crore in FY26. What proves it keeps working: Battery Recycling Ramp. It stops working if Battery utilization does not reach 30%+ by Q2 FY27 — signals OEM onboarding is structurally constrained, not a timing lag.
Lever 2 · Value-added mix — BUILDING. 25,000 MT/year Hyderabad facility (Rs 20 crore capex, Aug-Sep 2026 target) eliminates Rs 7 crore annual reverse logistics cost and opens South India sourcing, adding 30%+ to installed e-waste capacity. What proves it keeps working: Hyderabad Greenfield Capacity. It stops working if Hyderabad commissioning slips past Q3 FY27 — two-quarter delay would defer the logistics saving and signal execution risk on the broader capex program.
Lever 3 · Management change — BUILDING. Nashik pilot (1 MT/day, end-CY2026) validates chemistry; Haryana commercial plant (Rs 60 crore, 10 MT/day, Q2-Q3 FY27) internalizes black mass refining — targeting 200 bps margin uplift from current third-party refiner leakage. What proves it keeps working: Hydrometallurgy Value Chain Integration. It stops working if Nashik pilot fails to achieve >90% recovery efficiency or the government subsidy amount is materially below the 50% floor — the economics of the Rs 60 crore Haryana plant rely on subsidy to generate positive returns within the investment horizon.
Lever 4 · Paying down debt — BUILDING. 82,000 MT installed e-waste capacity currently at ~50% utilization with scalability to two shifts (manual dismantling process); each 10 percentage-point utilization gain at current OPM adds approximately Rs 6-8 crore annual EBITDA. What proves it keeps working: E-waste Operating Leverage on Existing Base.
Sources: our stock research file (27 June 2026) · quarterly results through Mar 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Namo eWaste Management Ltd reported ₹107 Cr of revenue in the Mar 26 quarter, +28.9% year on year. That is the 4th straight quarter of year-on-year growth. Over 2 years it has compounded at 38.9% a year. The last full year, FY26, came in at ₹195 Cr. The last four reported quarters add to ₹344 Cr.
FY26 revenue came in at ₹195 Cr (+30.0% on the year), capping 2 years at 38.9% compound. The latest quarter (Mar 26) printed ₹107 Cr, +28.9% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +43.1% growth against the decade's 38.9% — the current year is running faster than its own long-run rate.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Namo eWaste Management Ltd's operating margin is 11.0% in the Mar 26 quarter, +3.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +1.0 percentage points. Across 3 fiscal years the operating margin has ranged 9.0% to 12.0%. The current quarter sits inside that band.
Why this happened. The battery plant (12,000 MT capacity, Aug 2023 start) contributed Rs 18 crore revenue in FY26 — only 10% utilization because auto OEM brands held existing recycling contracts through March 2026. Management expects exponential ramp in FY27 as contracts expire and Namo's direct B2B model (90% corporate sourcing, 70% automotive) captures fresh volume. The margin profile is differentiated: battery segment 12-15% now, targeted 15-17% post-hydrometallurgy via internal black mass refining capturing value currently passed to third-party refiners at Rs 300-1,000/kg.
The latest quarter's operating margin is 11.0%, +3.0 pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 9.0%–12.0%.
Why the margin moved: operating margin went +0.8 pp year on year while gross margin went +1.0 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Namo eWaste Management Ltd earned ₹7.0 Cr of net profit in the Mar 26 quarter, +133.3% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹14.0 Cr. The 2-year compound rate is 41.4%. That is 6.5% of the quarter's revenue. The same quarter a year earlier earned ₹4.0 Cr.
Mar 26 profit was ₹7.0 Cr, +133.3% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹14.0 Cr (+75.0%), and the 2-year compound rate is 41.4%.
Why profit moved: revenue contributed +28.9% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +53.8% vs revenue +43.1%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −41% of Namo eWaste Management Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹5.0 Cr of operating cash against ₹14.0 Cr of profit. After ₹12.0 Cr of capital spending, ₹−7.0 Cr was left as free cash.
FY26: operating cash of ₹5.0 Cr against reported profit of ₹14.0 Cr, leaving free cash of ₹−7.0 Cr after ₹12.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −41% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −41%: the cash cycle stretched 24 days between FY24 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 24 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Namo eWaste Management Ltd's cash conversion cycle runs 126 days in FY26, up from 102 days in FY24. Capital spending ran ₹25.0 Cr over the last 2 years. At FY26 sales of ₹195 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹67.0 Cr sits inside the business at any moment.
FY26: debtors at 36 days, inventory at 97 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 126 days, looser than FY24's 102.
The full loop: cash goes out to suppliers and production on day 0; stock waits 97 days to sell; customers pay about 36 days after that; and suppliers themselves are paid at 6 days — netting out to the 126-day cycle.
In money terms: at FY26 sales of ₹195 Cr, each day of the cycle holds about ₹0.5 Cr — so the 126-day loop keeps roughly ₹67.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹25.0 Cr over the last 2 fiscal years against ₹3.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹6.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Namo eWaste Management Ltd earns a ROCE of 21% in FY26. Return on invested capital clears the cost of that capital by +2.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 7.2% net margin on 1.64× asset turns.
FY26 ROCE is 21%.
Why the return is what it is — the wiring (FY26): 7.2% net margin × 1.64× asset turns × 1.16× balance-sheet leverage ≈ 13.7% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 14.1% − 12.0% = a +2.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Namo eWaste Management Ltd carries ₹3.0 Cr of borrowings against ₹103 Cr of equity in FY26, a debt-to-equity of 0.03. Operating profit covers the interest bill 23×. Over 2 years borrowings went from ₹15.0 Cr to ₹3.0 Cr. Capital spending ran ₹25.0 Cr across the last 2 of those years.
Why this happened. FY26 saw e-waste revenue of Rs 180 crore at 60% capacity utilization across 4 plants. The business model is inherently scalable within existing plants via shift additions — from one to two shifts without major capex. Revenue per ton varies by mix (IT/telecom at premium vs white goods at discount). The Palwal plant doubling from 16,000 to 32,000 MT in H2 FY26 creates additional leverage. Material cost is structurally fixed at 77% of revenue (quality sourcing requires it), so leverage flows through the remaining 23%.
FY26: borrowings of ₹3.0 Cr against equity of ₹103 Cr — a debt-to-equity of 0.03. Operating profit covers the interest bill 23×. Over 2 years borrowings went from ₹15.0 Cr to ₹3.0 Cr while capital spending ran ₹25.0 Cr in just the last 2 — the build-out is being paid for out of cash, not debt.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Namo eWaste Management Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.
Why this happened. Currently Namo sells black mass (35-40% yield from lithium-ion batteries) to BatX, Rubamin at Rs 300-1,000/kg. Internal hydrometallurgy captures the refining spread: processing costs Rs 80,000-1,00,000/ton, black mass revenue Rs 500-1,500/kg, implying meaningful incremental margin. The pilot-first approach de-risks technology before Rs 60 crore commercial deployment. Government subsidy eligibility under National Critical Mineral Recovery Mission (50-70% of capex, staggered over five years) reduces net capital exposure. 2028-29 EPR battery mandate creates the volume floor.
The register over the last two years — .
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Namo eWaste Management Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Namo eWaste Management Ltd trades at 45.3× P/E, mid-range by its own standards (69th percentile). Its long-run median P/E is 43.2×, measured across 2.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 45.3× is mid-range by its own standards (69th percentile), against a long-run median of 43.2× measured over 2.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +69.7% against a +61.9% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Namo eWaste Management Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 0 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +30.0% | — | — | — |
| Profit | +75.0% | — | — | — |
| EPS | +69.7% | — | — | — |
| Share price | +61.9% | — | — | — |
4-Factor Sector Score
63.2/100 — rank 2 of 9 in Recycling · 56% evidence confidence
Namo eWaste Management Ltd scores 63.2 out of 100 against the 9 companies it is compared with in Recycling, ranking 2. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 20.1 + 15.5 + 8.9 + 18.7 = 63.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Namo eWaste Management Ltd's management promised, set against what actually arrived — 2 tracked 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.
Conflicting Battery Sourcing Composition · 16 June 2026. Within the Jun 2026 call, management provided contradictory breakdowns of their battery feedstock sources, a critical operational metric for their upcoming hydrometallurgy investments. Early in the call, management stated that their hazardous battery waste was sourced mostly from IT, e-commerce, and manufacturing OEM clients, but later explicitly claimed that their corporate battery supply consists of 70% from the automobile sector and 30% from consumer durables, entirely omitting the previously mentioned segments.
Black Mass Processing Strategy · 25 May 2026. During the Q&A of the May 2026 call, management provided conflicting answers regarding the utilization of black mass once the hydrometallurgy plant becomes operational. They initially stated it would be a combination of internal consumption and exports, but a few questions later claimed all black mass would be processed internally with no need to export or sell it.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Bhagyanagar India LtdBHAGYANGR | 69.3/100Favorable setup87% evidence | LEADER | 30.7/35 Revenue 49.1% · PAT 100% · OPM change 1.7 pp 95% evidence | 14.7/25 ROCE 20.7% · OPM 5% 95% evidence | 9.9/20 P/E 22.5× · PEG — 50% evidence | 14.0/20 RS sector 79.9% · RS bench 88.7% · 1Y 356.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 30.7 + 14.7 + 9.9 + 14 = 69.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Namo eWaste Management Ltdthis pageNAMOEWASTE | 63.2/100Thin evidence · provisional56% evidence | LEADER | 20.1/35 Revenue — · PAT — · OPM change 3 pp 26% evidence | 15.5/25 ROCE 21.3% · OPM 11% 95% evidence | 8.9/20 P/E 45.3× · PEG — 15% evidence | 18.7/20 RS sector 27.9% · RS bench 37.3% · 1Y 51.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 20.1 + 15.5 + 8.9 + 18.7 = 63.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 3NILE LtdNILE | 55.5/100Mixed-positive evidence81% evidence | 17.5/35 Revenue 17% · PAT 12.1% · OPM change -5.3 pp 95% evidence | 16.3/25 ROCE 25.3% · OPM 3.8% 95% evidence | 11.5/20 P/E 9.6× · PEG — 50% evidence | 10.2/20 RS sector 3.2% · RS bench -12.1% · 1Y -22.7%4 of 5 weeks ahead to 2026-08-09 70% evidence | |
| Exact sum: 17.5 + 16.3 + 11.5 + 10.2 = 55.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Pondy Oxides & Chemicals LtdPOCL | 54.0/100Mixed-positive evidence100% evidence | BASING | 27.6/35 Revenue 48.5% · PAT 100% · OPM change -1 pp 100% evidence | 13.6/25 ROCE 23.4% · OPM 6% 100% evidence | 9.4/20 P/E 24.2× · PEG 2.37 100% evidence | 3.4/20 RS sector -17.7% · RS bench -10.5% · 1Y -9.6%5 of 12 weeks ahead 100% evidence |
| Exact sum: 27.6 + 13.6 + 9.4 + 3.4 = 54 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -17.7% and the one-year return is -9.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 5Gravita India LtdGRAVITA | 50.8/100Mixed-positive evidence100% evidence | BREAKING OUT | 17.6/35 Revenue 17.5% · PAT 15.7% · OPM change -3 pp 100% evidence | 10.3/25 ROCE 17% · OPM 7% 100% evidence | 10.6/20 P/E 31.4× · PEG 1 100% evidence | 12.3/20 RS sector -6.7% · RS bench 1.6% · 1Y -1.5%8 of 12 weeks ahead 100% evidence |
| Exact sum: 17.6 + 10.3 + 10.6 + 12.3 = 50.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Eco Recycling LtdECORECO | 48.0/100Mixed-negative evidence76% evidence | 13.5/35 Revenue 31.9% · PAT 3.2% · OPM change 1.5 pp 95% evidence | 19.4/25 ROCE 30.8% · OPM 56.3% 76% evidence | 10.1/20 P/E 35× · PEG — 50% evidence | 5.0/20 RS sector -36.6% · RS bench -1.5% · 1Y -25.5%0 of 12 weeks ahead 70% evidence | |
| Exact sum: 13.5 + 19.4 + 10.1 + 5 = 48 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Jain Resource Recycling LtdJAINREC | 47.7/100Mixed-negative evidence73% evidence | ASLEEP | 18.3/35 Revenue 65.3% · PAT 62.2% · OPM change -2 pp 100% evidence | 14.4/25 ROCE 25.7% · OPM 4% 100% evidence | 5.0/20 P/E 27× · PEG 3.48 65% evidence | 10.0/20 RS sector — · RS bench — · 1Y -6.5%0 of 12 weeks ahead 0% evidence |
| Exact sum: 18.3 + 14.4 + 5 + 10 = 47.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Antony Waste Handling Cell LtdAWHCL | 39.8/100Mixed-negative evidence81% evidence | BASING | 8.8/35 Revenue 11.8% · PAT -32% · OPM change -8 pp 95% evidence | 12.5/25 ROCE 11.2% · OPM 14.3% 95% evidence | 13.8/20 P/E 17.8× · PEG — 50% evidence | 4.7/20 RS sector -20.3% · RS bench -22.3% · 1Y -36.5%1 of 10 weeks ahead 70% evidence |
| Exact sum: 8.8 + 12.5 + 13.8 + 4.7 = 39.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 9Ganesha Ecosphere LtdGANECOS | 34.5/100Adverse evidence94% evidence | BREAKING OUT | 10.2/35 Revenue 7% · PAT -38% · OPM change 3 pp 100% evidence | 5.5/25 ROCE 5.6% · OPM 14% 100% evidence | 10.9/20 P/E 48.1× · PEG 0.43 100% evidence | 7.9/20 RS sector -29.3% · RS bench 5.2% · 1Y -24.2%7 of 10 weeks ahead 70% evidence |
| Exact sum: 10.2 + 5.5 + 10.9 + 7.9 = 34.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Namo eWaste Management Ltd's share price today?
Namo eWaste Management Ltd trades at ₹284, +61.9% over the past year. The company is valued at ₹650 Cr. The stock sits at 90% of its 52-week range of ₹137–₹300, +23.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 11 September 2026.
What were Namo eWaste Management Ltd's latest quarterly results?
Namo eWaste Management Ltd reported revenue of ₹107 Cr and net profit of ₹7.0 Cr for the Mar 26 quarter. Revenue rose 28.9% and profit rose 133.3% year on year. Earnings per share were ₹3.22. The operating margin was 11.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is Namo eWaste Management Ltd's revenue?
Namo eWaste Management Ltd reported revenue of ₹107 Cr in the Mar 26 quarter, +28.9% year on year. For the full FY26 fiscal year, revenue was ₹195 Cr (+30.0%). Over the last 2 years revenue compounded at 38.9% a year. — as of 11 September 2026.
What is Namo eWaste Management Ltd's profit?
Namo eWaste Management Ltd earned ₹7.0 Cr of net profit in the Mar 26 quarter, +133.3% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹14.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 11 September 2026.
What is Namo eWaste Management Ltd's market cap?
Namo eWaste Management Ltd's market capitalisation is ₹650 Cr at a share price of ₹284. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Namo eWaste Management Ltd's P/E ratio?
Namo eWaste Management Ltd trades at a P/E of 45.3×, at the 69th percentile of its own 2-year range, against a long-run median of 43.2×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Namo eWaste Management Ltd pay a dividend?
No — Namo eWaste Management Ltd has recorded a dividend payout of 0% of profit in each of its last 3 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 11 September 2026.
Is Namo eWaste Management Ltd overvalued?
On its own history, Namo eWaste Management Ltd looks expensive: its P/E of 45.3× sits at the 69th percentile of its 2-year range (long-run median 43.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Namo eWaste Management Ltd growing?
Yes — Namo eWaste Management Ltd is growing: latest-quarter revenue +28.9% year on year, profit +133.3%, and the margin +3.0 pp at 11.0%. The 2-year compound rates are 38.9% (revenue) and 41.4% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Namo eWaste Management Ltd performing?
Namo eWaste Management Ltd is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue rose 28.9% and profit rose 133.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 27 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is Namo eWaste Management Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +23.0% versus its 200-day average and at 90% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Namo eWaste Management Ltd beating the market?
On recent form, yes — Namo eWaste Management Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 27 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 2.0 years the stock moved +86% against the NIFTY 500's −4% — ahead of the index over the full window. — as of 11 September 2026.
Will Namo eWaste Management Ltd's share price go up?
This page publishes no price forecast for Namo eWaste Management Ltd. What it measures instead: the share price is ₹284, the price is in a confirmed uptrend 18 weeks in. Its P/E of 45.3× sits at the 69th percentile of its own 2-year range. — as of 11 September 2026.
Who owns Namo eWaste Management Ltd?
Promoters hold 69.0% of Namo eWaste Management Ltd, foreign institutions 0.1%, domestic institutions 1.4% and the public 29.4% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Namo eWaste Management Ltd have too much debt?
No — Namo eWaste Management Ltd's debt-to-equity is 0.03, and operating profit covers the interest bill 23×. FY26 borrowings were ₹3.0 Cr against equity of ₹103 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Namo eWaste Management Ltd's capex?
Namo eWaste Management Ltd spent ₹25.0 Cr on capital expenditure over the last 2 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹12.0 Cr, with ₹6.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Namo eWaste Management Ltd's cash flow?
Namo eWaste Management Ltd generated ₹5.0 Cr of operating cash flow in FY26 and ₹−7.0 Cr of free cash flow after ₹12.0 Cr of capital spending. Reported profit that year was ₹14.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Namo eWaste Management Ltd's profit real cash?
No — operating cash was negative over the last 3 fiscal years: Namo eWaste Management Ltd consumed cash while reporting profit. In FY26, operating cash was ₹5.0 Cr against reported profit of ₹14.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.
Where is Namo eWaste Management Ltd in its business cycle?
Namo eWaste Management Ltd's FY26 operating margin was 12.0%, against a 3-year band of 9.0%–12.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Namo eWaste Management Ltd story?
The sharpest disagreement: profits are rising, but only −41% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Namo eWaste Management Ltd a stock worth studying right now?
This is not investment advice. The machine read: Namo eWaste Management Ltd's earnings have outrun its stock. EPS grew +69.7% in a year against a +61.9% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!