Jain Resource Recycling Limited Q4 FY26 Earnings Call Transcript Released
Jain Resource Recycling Limited reported FY26 revenue of ₹9,543 crore (up 48%) and PAT of ₹347 crore (up 56%). Q4 FY26 revenue grew 76% YoY. Company is expanding copper value-added products, with anode production started and cathode/wire rod projects progressing. Normalized EBITDA per ton for copper is guided at ₹30,000-₹32,000.
The announcement includes detailed financial results for FY26 and Q4, strategic expansion plans, project commissioning timelines, and future EBITDA guidance, all of which are material information for investors.
The company reported strong year-on-year growth in revenue, EBITDA, and profit after tax for FY26. Despite temporary pressures in Q4, the overall outlook and strategic expansion plans are positive.
Jain Resource Recycling Limited (JAINREC) has released the transcript of its Earnings Conference Call held on May 18, 2026. The call discussed the company's audited financial results for the quarter and financial year ended March 31, 2026.
During FY26, JAINREC reported a significant increase in its financial performance, with revenue growing by 48% to approximately ₹9,543 crore and EBITDA increasing by 53% to approximately ₹559 crore. Profit after tax grew by 56% to approximately ₹347 crore. The company highlighted strong year-on-year growth driven by healthy volume growth and disciplined hedging practices. Copper remains a strategic focus, with progress on forward integration projects including copper anode operations commencing and cathode, wire rod, and bus bar projects progressing towards commissioning.
The company also detailed its expansion plans, including a joint venture in Ahmedabad for copper sourcing and recycling, and the development of antimony extraction capabilities. Internationally, a strategic investment in Kuwait for recycling is also progressing. The call addressed the impact of geopolitical disruptions and shipping route issues on Q4 FY26 performance, particularly on EBITDA per ton, which saw a temporary compression. Management provided guidance for normalized EBITDA per ton in the copper segment, expected to stabilize between ₹30,000 to ₹32,000 on a steady state basis, excluding value-added products.
Key business updates included the commissioning phase of copper value-added product projects under Jain Green Technologies. Copper anode production began in March 2026, with plans to increase capacity. Copper cathode, wire rod, and bus bar projects are on track for commissioning in FY27. The Ahmedabad joint venture is progressing, with scrap processing expected to start from September 2026. A new dedicated plastic recycling unit is also planned, targeted for operationalization by Q3 FY27 with an estimated capex of ₹15 crore.
Financial performance for Q4 FY26 showed consolidated revenue growth of approximately 76% year-on-year. However, EBITDA margin stood at around 3.5% due to temporary external factors like a decline in sales realization formulas and increased logistics and fuel costs related to geopolitical disruptions. The company expects these pressures to ease in Q1 FY27. Return ratios for March 2026 included a return on equity of approximately 30.4% and return on capital employed of approximately 25.3%. Working capital days were around 66 days.
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