CMR Green Technologies posted a 29.5% revenue jump to ₹8,640 crore for FY26. The non-ferrous metal recycler also saw a 47.3% profit increase and successfully completed its IPO in June 2026, providing capital for planned capacity expansions.
CMR Green Technologies Sees 29.5% Revenue Growth, Completes IPO
Consolidated Revenue: ₹8,640.19 crore (FY26)
Consolidated Profit After Tax: ₹228.38 crore (FY26)
Reader Takeaway: Strong financial growth and a successful IPO are positives, but joint venture disputes are a key risk.
What just happened
CMR Green Technologies Limited, a company focused on non-ferrous metal recycling, has announced its audited financial results for the fiscal year ending March 31, 2026. The company reported a significant 29.5% increase in consolidated revenue from operations, reaching ₹8,640.19 crore, up from ₹6,669.09 crore in FY25. Consolidated profit after tax also saw a substantial rise of 47.3%, reaching ₹228.38 crore compared to ₹155.05 crore in the previous fiscal year.
On a standalone basis, revenue grew by 10.4% to ₹5,070.65 crore, with profit after tax increasing by 32.0% to ₹126.80 crore.
A major corporate event was the successful completion of the company's Initial Public Offering (IPO) in June 2026. CMR Green Technologies issued 32,858,323 equity shares at an issue price of ₹192 per share.
Why this matters
The robust financial performance indicates strong operational efficiency and market demand for the company's recycling services. The successful IPO provides crucial capital for future growth initiatives, particularly the planned capacity expansions in its subsidiaries. This marks a significant step as the company transitions to a publicly listed entity.
The backstory
CMR Green Technologies is involved in the recycling of non-ferrous metals. The company has been working on expanding its operational footprint and enhancing its capabilities. The IPO was a key strategic move to fund these expansions and increase its public profile.
What changes now
The company is set to commence operations at its new plants under CMR Nikkei India Private Limited (Bawal, Haryana) and CMR-Toyotsu Aluminium India Private Limited (Shoolagiri, Tamil Nadu) in FY2027. The capital infusion from the IPO will support these projects aimed at bolstering capacity. The company has also filed for a change in listing status from 'Unlisted' to 'Listed' as of June 12, 2026, awaiting regulatory approval.
Risks to watch
A key area of concern for investors is an ongoing dispute with joint venture partners. Consequently, two joint ventures—CMR-Chiho Recycling Technologies Private Limited and CMR-Chiho Industries India Private Limited—are not consolidated in the financial statements as they are not currently operational.
Auditor and Compliance Note
The statutory auditors, M/s. ASA and Associates LLP, have provided an unmodified audit opinion on the financial results, indicating a clean bill of financial health. The company is awaiting approval for its 'Listed' status.
Context metrics (time-bound)
- Consolidated Revenue Growth (FY26 vs FY25): +29.5%
- Consolidated PAT Growth (FY26 vs FY25): +47.3%
- Standalone Revenue Growth (FY26 vs FY25): +10.4%
- Standalone PAT Growth (FY26 vs FY25): +32.0%
- IPO Date: June 2026
- New Plant Commencement: Expected FY2027
- Listing Status Change Date: June 12, 2026 (pending approval)