Siyaram Recycling Industries
Siyaram Recycling Industries (SIYARAM) share price was ₹35.26 at the 28 Oct 2026 close; market capitalisation ₹76.80 Cr; sector Industrial Products. The share price fell 64.7% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue fell 43.6% year on year to ₹150 Cr and net profit was ₹1 Cr, against ₹7 Cr a year earlier (compared with Mar 2025). Promoters held 52.09% of Siyaram Recycling Industries in Sep 2026, up 0.98 percentage points from Mar 2026. Its Tapetide Score is 41/100 (Weak) as of 28 Oct 2026.
Key Fundamentals
SMEIndustrial ProductsCapital GoodsPrice-based figures as of 28 Oct 2026, 15:30 IST · TTM
Peer Comparison
Industrials › Industrial Products › Other Industrial Products
| ₹813.50 | 28.88 | 22,550 Cr | 10.18 | 0.38% | 36.79% | 46.59% | 3,399 Cr | 780 Cr | |
| ₹1,904.40 | 67.82 | 17,315 Cr | 15.47 | 0.10% | 23.08% | 30.77% | 1,667 Cr | 255 Cr | |
| ₹5,316.00 | 36.88 | 8,183 Cr | 19.06 | 1.42% | 48.14% | 60.82% | 1,615 Cr | 222 Cr | |
| ₹1,177.50 | 76.76 | 7,708 Cr | 8.34 | 0.00% | 13.32% | 18.02% | 747 Cr | 97 Cr | |
| ₹428.60 | 25.23 | 3,902 Cr | 2.78 | 0.36% | 11.07% | 14.21% | 1,752 Cr | 154 Cr | |
| ₹590.05 | 23.14 | 3,849 Cr | 3.09 | 0.49% | 13.31% | 16.75% | 3,949 Cr | 167 Cr | |
| ₹1,361.20 | 20.66 | 2,369 Cr | 4.16 | 0.55% | 14.79% | 20.26% | 1,285 Cr | 115 Cr | |
| Siyaram Recycling Industries (this company) | — | — | 77 Cr | 0.59 | 0.00% | 2.92% | 11.22% | — | — |
| Median 8 companies | ₹1,177.50 | 28.88 | 5,805 Cr | 6.25 | 0.37% | 14.06% | 19.14% | 1,667 Cr | 167 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 84/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Stock is trading at 0.62 times its book value
- Promoter holding has increased by 0.98% over last quarter.
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 8.88% over last 3 years.
- Debtor days have increased from 39.1 to 55.1 days.
- Working capital days have increased from 93.9 days to 136 days
Technical Indicators
Oscillators
Bullish
Overall
Bullish
Moving Averages
Bullish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 5% · Mar 2026
Quarterly Results
| Particulars | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 275 | 215 | 198 | 246 | 266 | 212 | 150 |
| Expenses | 270 | 205 | 191 | 231 | 253 | 202 | 142 |
| Operating Profit | 5 | 10 | 7 | 14 | 13 | 9 | 8 |
| OPM % | 1.8% | 4.6% | 3.6% | 6% | 4.9% | 4.5% | 5% |
| Other Income | 3 | 0 | 1 | 1 | 2 | 1 | 0 |
| Interest | 3 | 3 | 4 | 4 | 4 | 4 | 6 |
| Depreciation | 2 | 1 | 0 | 1 | 0 | 1 | 1 |
| PBT | 3 | 6 | 4 | 10 | 10 | 5 | 1 |
| Tax % | 147% | 25% | 27% | 25% | 32% | 35% | 30% |
| Net Profit | -1 | 4 | 3 | 8 | 7 | 3 | 1 |
| EPS (₹) | -1.02 | 3.08 | 1.74 | 4.09 | 3.16 | 1.41 | 0.33 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 139 | 423 | 492 | 413 | 511 | 362 |
| Expenses | 135 | 418 | 481 | 396 | 484 | 345 |
| Operating Profit | 4 | 6 | 11 | 17 | 27 | 17 |
| OPM % | 2.7% | 1.3% | 2.3% | 4.1% | 5% | 4.7% |
| Other Income | 1 | 3 | 5 | 1 | 2 | 1 |
| Interest | 2 | 2 | 4 | 7 | 8 | 11 |
| Depreciation | 1 | 2 | 2 | 1 | 1 | 2 |
| PBT | 2 | 4 | 10 | 10 | 20 | 6 |
| Tax % | 27% | 29% | 31% | 26% | 29% | 34% |
| Net Profit | 1 | 3 | 7 | 8 | 15 | 4 |
| EPS (₹) | 1.03 | 2.33 | 5.19 | 4 | 6.69 | 1.74 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 19 | 22 | 22 |
| Reserves | 22 | 25 | 32 | 58 | 105 | 108 |
| Borrowings | 29 | 28 | 67 | 59 | 76 | 114 |
| Other Liabilities | 33 | 32 | 38 | 34 | 80 | 30 |
| Total Liabilities | 98 | 99 | 151 | 170 | 283 | 274 |
| Fixed Assets | 7 | 8 | 7 | 6 | 8 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 91 | 91 | 144 | 164 | 276 | 268 |
| Total Assets | 98 | 99 | 151 | 170 | 283 | 274 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 7 | 11 | -35 | -4 | -43 | -28 |
| Investing | -2 | -2 | -1 | -1 | -3 | 0 |
| Financing | -6 | -6 | 34 | 5 | 45 | 29 |
| Net Cash Flow | -1 | 2 | -1 | 0 | -1 | 0 |
| Free Cash Flow | 5 | 8 | -36 | -5 | -46 | -28 |
| CFO/EBITDA | 178 | 192 | -261 | -9 | -138 | -153 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 112 | 29 | 26 | 26 | 36 | 55 |
| Inventory Days | 119 | 48 | 63 | 117 | 161 | 226 |
| Days Payable | 86 | 26 | 22 | 17 | 30 | 26 |
| Cash Conversion Cycle | 145 | 50 | 66 | 125 | 167 | 255 |
| Working Capital Days | 114 | 27 | 31 | 59 | 86 | 136 |
| ROCE % | — | 11% | 16% | 14% | 17% | 7% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Documents
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Company Information
Incorporated in 2007, Siyaram Recycling Industries Ltd manufactures all kinds of Brass Plumbing and Sanitary Components[1]
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