CMR Green Technologies reported a stellar first year post-listing, with FY2026 revenue climbing 29.56% to Rs 8,640 crore and PAT growing 47.30% to Rs 228.38 crore. The recycling major expanded its EBITDA margins by 70 bps, fueled by a 24.4% increase in sales volume. With 13 operational facilities and significant capacity expansion underway for FY27, the firm is capitalizing on India's push for circular economy and EV-driven demand. While growth remains strong, investors should monitor commodity price volatility and ongoing legal disputes.
CMR Green Technologies Reports Strong FY26 Performance
Revenue: Rs 8,640.19 crore (up 29.56% YoY)
Net Profit (PAT): Rs 228.38 crore (up 47.30% YoY)
Reader Takeaway: Strong volume growth and margin expansion are tempered by commodity price volatility and ongoing legal tax disputes.
What just happened
CMR Green Technologies Limited released its first annual financial results following its June 2026 public listing. The company reported a significant boost in operational performance, with sales volume growing by 24.40% to over 4 lakh MT. Both aluminium and non-aluminium segments showed healthy double-digit growth, contributing to a 50% jump in EBITDA to Rs 449.44 crore.
Why this matters
As a leader in the aluminium recycling space, the company is a direct beneficiary of the shift toward lightweight materials in the automotive sector and the rising adoption of electric vehicles. The improvement in EBITDA margins to 5.20% indicates that the company is effectively leveraging its scale and technology-driven sorting processes despite input price fluctuations.
The backstory
Post-listing in June 2026, the company has focused on reinforcing its hub-and-spoke model. With 13 manufacturing facilities already operational, it is now scaling up through new projects in Shoolagiri and Bawal, which are expected to add 1 lakh MT of capacity by the end of FY27.
What changes now
The board has opted not to declare a dividend for FY2026, signaling a focus on reinvesting cash flow into aggressive capacity expansion and technological upgrades like XRT and LIBS sorting systems to maintain competitive differentiation.
Risks to watch
Regulatory shifts, particularly in import duties and Extended Producer Responsibility (EPR) mandates, remain key variables. The company also faces pressure from the large, unorganized recycling sector and must manage sensitivity to energy and commodity price cycles. Additionally, potential outcomes of pending customs and excise litigation could impact contingent liabilities.
What to track next
Watch for the successful commissioning of the Shoolagiri and Bawal plants by FY27 and any updates regarding the resolution of tax disputes mentioned in the contingent liabilities disclosures.