Mukul Agrawal holds 10.10% stake: Brass billets manufacturer receives 3 orders worth Rs 2,40,07,359.60 in just 1 day
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The company has a market cap of over Rs 120 crore and the stock is up by 26 per cent from its 52-week low of Rs 53.27 per share.
Siyaram Recycling Industries Ltd, a prominent manufacturer of brass billets, has successfully secured 3 domestic orders totalling Rs 2,40,07,359.60 in a single day. The largest of these contracts, valued at Rs 1,88,53,332, was awarded by Charbhuja Impex for the supply of Brass Scrap Honey as per ISRI standards. This fixed-cost agreement is set for execution within 6 Months, marking a significant addition to the company's immediate production pipeline.
In addition to the scrap metal order, the company received two specialised component contracts from major domestic entities. Usha International Limited placed an order worth Rs 34,05,267.60 for various brass components, including front connectors, chuck nuts, and water inlet/outlet connectors. Simultaneously, The Supreme Industries Limited awarded a contract valued at Rs 17,48,760 for female inserts used in CPVC/Aqua thread applications. Both of these secondary orders are also fixed-cost contracts and are scheduled to be completed within 6 Months.
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 120 crore and the stock is up by 26 per cent from its 52-week low of Rs 53.27 per share.
Disclaimer: The article is for informational purposes only and not investment advice.