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Shares of Siyaram Recycling Industries Ltd, a BSE SME-listed company backed by ace investor Mukul Agrawal, have rewarded shareholders handsomely since its IPO debut in December 2023. The stock has zoomed 202 percent, rising from its issue price of ₹46 to ₹139, delivering multibagger returns in just one and a half years.

An investment of ₹15,000 in the IPO would now be worth over ₹45,000, showcasing the potential of well-timed entries in quality SME counters. The company’s IPO was a ₹22.96 crore book-built issue, comprising a fresh issue of 49.92 lakh shares, and witnessed healthy investor participation.

In terms of market performance, the stock has gained over 71 percent in the last one year alone. It has added 7.5 percent in May so far, continuing its upward trajectory after gaining 4 percent in April and 2.7 percent in March. The only sharp correction came in February when it slipped 23.5 percent, following a 7 percent rise in January.

Backed by solid fundamentals and consistent growth, the company recently posted its H2FY25 financial results, which showed continued operational strength. Siyaram Recycling reported revenue from operations of ₹266 crore in the second half of FY25, up 8 percent HoH from ₹245.7 crore in H1FY25, and up 34 percent YoY from ₹198 crore in H2FY24.

Net profit for H2FY25 came in at ₹7 crore, a slight decline of 9 percent HoH compared to ₹7.7 crore in H1FY25, but showed a remarkable 112 percent growth YoY from ₹3.3 crore in H2FY24. The numbers reflect stable demand and improved operational efficiency across domestic and global markets.

The company’s March 2025 shareholding pattern shows that Promoters hold 61.17 percent, underlining continued promoter confidence in the business. Retail investors account for 37.08 percent, while Domestic Institutional Investors (DIIs) hold 1.76 percent. Notably, Mukul Mahavir Agrawal, one of India’s renowned investors, holds a 10.1 percent stake, further boosting investor trust in the company.

Siyaram Recycling Industries Limited operates in the brass recycling and manufacturing sector, dealing in brass scrap segregation, and the production of brass ingots, billets, rods, and brass-based components. These components primarily serve the plumbing and sanitary hardware segments, catering to both domestic and export markets.

The company has a strong domestic footprint, with a presence across 18 states and Union Territories, with Gujarat being the major revenue-generating region. On the global front, Siyaram has expanded its customer base across China, Germany, Belgium, and Oman, signaling rising global traction for its products.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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