Key Decisions and Financial Results

The Board of Directors meeting commenced at 11:30 AM and concluded at 02:30 PM on 06th November 2026. The following matters were considered and approved:

1. Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30th September 2026.

2. Appointment of Mr. Satish Kumar Kaushik as the Chief Financial Officer (KMP) of the Company.

3. Purchase of Corporate Office premises.

Detailed Standalone Financial Performance (Amount in ₹ Crores)

Quarter Ended September 30, 2026 (Q2 FY26):

  • Revenue from Operations: ₹1,786.57
  • Other Income: ₹11.54
  • Total Income: ₹1,798.11
  • Total Expenses: ₹1,751.38
  • Profit Before Tax (PBT): ₹46.73
  • Total Tax Expense: ₹11.78
  • Profit After Tax (PAT): ₹34.95
  • Earnings Per Share (Basic): ₹1.59 (on a face value of ₹2 per share)
  • Earnings Per Share (Diluted): ₹1.58

Half Year Ended September 30, 2026 (H1 FY26):

  • Revenue from Operations: ₹3,399.97
  • Other Income: ₹28.21
  • Total Income: ₹3,428.18
  • Total Expenses: ₹3,334.43
  • Profit Before Tax (PBT): ₹93.75
  • Total Tax Expense: ₹23.55
  • Profit After Tax (PAT): ₹70.20
  • Earnings Per Share (Basic): ₹3.20
  • Earnings Per Share (Diluted): ₹3.18

Comparative Figures (Standalone):

  • Q2 FY25 PAT: ₹14.94 Cr | H1 FY25 PAT: ₹51.76 Cr | FY26 PAT: ₹126.80 Cr
  • Paid-up Share Capital: Remained constant at ₹43.81 Cr.
  • Other Equity: Stood at ₹1,618.03 Cr as of September 30, 2026, compared to ₹1,477.53 Cr as of March 31, 2026.

Detailed Consolidated Financial Performance (Amount in ₹ Crores)

Quarter Ended September 30, 2026 (Q2 FY26):

  • Revenue from Operations: ₹3,471.85
  • Other Income: ₹0.56
  • Total Income: ₹3,472.41
  • Profit Before Tax (PBT): ₹94.32
  • Profit After Tax (PAT): ₹72.65
  • PAT attributable to equity holders of parent: ₹66.35
  • Earnings Per Share (Basic): ₹3.03
  • Earnings Per Share (Diluted): ₹3.01

Half Year Ended September 30, 2026 (H1 FY26):

  • Revenue from Operations: ₹6,594.58
  • Other Income: ₹6.80
  • Total Income: ₹6,601.38
  • Profit Before Tax (PBT): ₹183.98
  • Profit After Tax (PAT): ₹140.83
  • PAT attributable to equity holders of parent: ₹127.72
  • Earnings Per Share (Basic): ₹5.83
  • Earnings Per Share (Diluted): ₹5.79

Comparative Figures (Consolidated):

  • Q2 FY25 PAT: ₹57.94 Cr | H1 FY25 PAT: ₹113.87 Cr | FY26 PAT: ₹228.38 Cr
  • Other Equity: Stood at ₹1,770.47 Cr as of September 30, 2026.

Key Operational and Financial Notes

  • Business Segment: The Company is primarily engaged in recycling non-ferrous metals, including manufacturing and selling aluminium alloys, billets, zinc alloys ingots, and segregation of metals like stainless steel, copper, brass, zinc, lead, and magnesium. There are no separate reportable segments as per IND AS 108.
  • ESOPs: During the quarter, 72,500 stock options were granted and 30,000 options lapsed under the Employee Stock Option Plan (ESOP). A share-based payment expense of ₹4.45 Crores was recognized for H1 FY26.
  • Basis of Preparation: The figures for the half year ended September 30, 2025, are from special purpose audited standalone/consolidated interim financial statements prepared for the IPO. Q2 FY25 figures are derived as balancing figures and were not audited or reviewed.
  • Joint Ventures: The consolidated results include the Group's share of net profit from joint ventures: ₹0.54 Cr for Q2 FY26 and ₹2.03 Cr for H1 FY26. Two joint ventures (CMR-Chiho Industries India Pvt Ltd and CMR-Chiho Recycling Technologies Pvt Ltd) are not consolidated due to being non-operational with an ongoing dispute between partners.
  • Subsidiaries: The consolidated results include 5 subsidiaries and 1 joint venture. The financial results of 5 subsidiaries, with significant assets and revenue, were reviewed by other auditors. The results of one foreign subsidiary (CMR Green LLC) were based on management-certified figures, not audited/reviewed.
  • Auditor's Review: The statutory auditors, ASA & Associates LLP, have issued an unmodified review report on both the standalone and consolidated unaudited interim financial results.

Management Change

  • Mr. Satish Kumar Kaushik was appointed as the Chief Financial Officer (CFO), a Key Managerial Personnel (KMP) of the Company. The effective date of appointment is the date of the board meeting, i.e., 06th November 2026.

Corporate Action

  • The Board approved the purchase of corporate office premises. The disclosure does not quantify the financial outlay, location, or other specifics of this transaction.

Financial Position Highlights (Standalone as of 30 Sep 2026)

  • Total Assets: ₹3,155.72 Cr (Mar-26: ₹2,711.33 Cr)
  • Inventories: ₹686.25 Cr (Mar-26: ₹466.12 Cr)
  • Trade Receivables: ₹860.47 Cr (Mar-26: ₹555.89 Cr)
  • Borrowings (Current): ₹920.82 Cr (Mar-26: ₹708.20 Cr)
  • Total Equity: ₹1,661.84 Cr (Mar-26: ₹1,521.34 Cr)

Cash Flow Highlights (Standalone H1 FY26)

  • Net Cash from Operating Activities: (₹162.15) Cr
  • Net Cash from Investing Activities: (₹6.95) Cr
  • Net Cash from Financing Activities: ₹174.47 Cr
  • Net Change in Cash: ₹5.37 Cr