Jain Resource Recycling (JAINREC) Q4 24/25 earnings summary

Executive summary

• FY25 consolidated revenue was Rs. 71,621.54 million and PAT was Rs. 2,232.87 million, compared with Rs. 44,848.41 million and Rs. 1,638.27 million in FY24.

• Operations span recycling of copper, lead and aluminium scrap, plus gold refining through a UAE subsidiary; consolidated results include subsidiaries and an associate.

• FY25 included a merger, public-company conversion, share split and OFCD conversion; an IPO process was progressing after SEBI observations and exchange in-principle approvals.

Financial highlights

• Consolidated revenue from operations was Rs. 71,257.68 million versus Rs. 44,284.18 million; total income was Rs. 71,621.54 million versus Rs. 44,848.41 million.

• Consolidated PBT was Rs. 3,045.93 million versus Rs. 2,146.02 million; PAT was Rs. 2,232.87 million versus Rs. 1,638.27 million.

• Standalone revenue was Rs. 61,836.91 million versus Rs. 42,017.48 million; standalone PAT was Rs. 2,111.35 million versus Rs. 1,595.62 million.

• Consolidated operating cash flow was Rs. 35.82 million versus Rs. 333.62 million; cash and cash equivalents ended FY25 at Rs. 235.88 million versus Rs. 814.05 million.

• Consolidated basic EPS was Rs. 7.16 versus Rs. 5.29; diluted EPS was Rs. 7.16 versus Rs. 4.70, with prior-period share data adjusted for the merger and share split.

Outlook and guidance

• IPO preparations continued after BSE and NSE in-principle approvals on June 3, 2025 and receipt of SEBI’s observation letter; an updated DRHP and subsequent RHP filing were planned after required revisions and approvals.

• Members were asked to approve FY26 remuneration for the Managing Director of Rs. 3 million monthly, subject to a Rs. 50 million annual ceiling; the resolution also allows minimum remuneration in years with no or inadequate profits.

• A Rs. 32.45 million capital-work-in-progress project was expected to be completed within one year of March 31, 2025, with no reported time or cost overruns.