Mukul Agrawal holds 10.10% stake: Brass billets manufacturer bags order worth Rs 1,40,36,373 from Saanvi Metal Craft

Siyaram Recycling Industries Limited has secured a significant domestic order from Saanvi Metal Craft for the supply of Brass Scrap Honey, valued at Rs 1,40,36,373. This fixed-cost contract is to be executed within one month. The company's press release highlights this order as a key development, reflecting its continued business growth in the domestic market. The nature of the order involves the supply of recycled brass material, a core product for Siyaram Recycling Industries. This collaboration with a domestic entity underscores the company's strong footprint within India's recycling and metal-processing sector.

About the Company

Siyaram Recycling Industries Ltd (SRIL), established in 2007 and formerly known as Siyaram Impex Pvt Ltd, operates out of Jamnagar, Gujarat, specialising in the recycling and manufacturing of brass products. Their core business encompasses the meticulous segregation of brass scrap, followed by the production of brass ingots, billets, and brass rods. Beyond these foundational materials, SRIL also manufactures a diverse range of brass-based components, particularly for plumbing and sanitary applications, including brass inserts, ceramic cartridges, valves, and extension nipples, demonstrating a comprehensive vertical integration from raw material processing to finished product manufacturing.

The shares of the company have a PE of 16x, an ROE of 14 per cent and ROCE of 17 per cent. An ace investor, Mukul Agrawal, holds 22,00,000 shares or a 10.10 per cent stake in the company. The company has a market cap of over Rs 240 crore and the stock is up by 10 per cent from its 52-week low of Rs 101 per share.

Disclaimer: The article is for informational purposes only and not investment advice.