Siyaram Recycling Industries Limited (SRIL), a manufacturer of recycled brass products and value-added brass components, reported revenue of ₹230 crore for the first half of FY27, an increase of 9% over the corresponding period last year and 54% compared with the second half of FY26. The company’s operating performance also improved during the period. EBITDA rose to ₹9.1 crore in H1 FY27 from ₹7.6 crore in H2 FY26, marking a sequential increase of 20%. Profit after tax (PAT) increased to ₹2.6 crore from ₹0.7 crore in the preceding half-year, nearly four times the earlier figure.
The improvement follows a period affected by operational disruptions in the second half of FY26. Revenue during that period stood at ₹149.8 crore. The company said better operating conditions and improved execution supported the recovery in the first half of the current financial year.
SRIL expects business activity to strengthen further in H2 FY27. Improved freight movement, availability of raw materials, labour deployment and execution schedules are expected to help the company meet customer requirements and increase manufacturing throughput. Based on the performance during the first half and its expectations for the remaining months, the management is targeting revenue of more than ₹600 crore for FY27. If achieved, this would be the highest annual revenue in the company’s history.
Bhavesh Maheshwari, Managing Director of Siyaram Recycling Industries Limited, said H1 FY27 marked a recovery in business, with higher revenue and EBITDA reflecting improved operations and execution. He said the company expects a stronger second half and is focusing on operational efficiency, profitability and expanding its value-added product portfolio.
Alongside its near-term revenue target, the company is working to increase the contribution of higher-value brass components. This strategy is aimed at improving product differentiation, developing stronger customer relationships and reducing dependence on basic recycled brass products. The company said global geopolitical developments and fluctuations in commodity prices remain important factors for the industry. It will continue to focus on manufacturing efficiency and execution as operating conditions improve.
Established in 2007, Siyaram Recycling Industries is based in Jamnagar, Gujarat. It processes brass scrap into brass ingots, billets, rods and finished components used in plumbing, sanitary and industrial applications. The company sources brass scrap from markets including the United States, the United Kingdom, Europe and the Middle East. Its operations include scrap segregation, recycling, alloying and precision manufacturing. It supplies customers in domestic and export markets. SRIL’s manufacturing operations are located in Jamnagar, a major centre for India’s brass industry. Its product range serves customers across plumbing, sanitaryware and industrial segments.
