Whalesbook
Yaar, India ka recycling market ekdum se udne wala hai! Target hai $21.4 Billion tak pahunchna by 2030, aur yeh sab government ke support aur metals ki badhti demand se ho raha hai. Battery aur e-waste ke liye sakht rules aa gaye hain, aur FY31 tak 10-25% recycled content use karna compulsory hoga. Yeh 'urban mining' ka trend bahut important hai, kyunki infrastructure aur electric vehicles ki demand ke liye raw material supply par pressure aa raha hai.
Jain Resources: Copper Aur Antimony mein Tarakki
Ab baat karte hain Jain Resources ki. Yeh company non-ferrous metals jaise copper, lead, aluminum ko recycle karti hai. Inke 4 bade expansion projects chal rahe hain, jismein high-margin copper products aur US ki C&Y Group ke saath copper scrap ka joint venture bhi hai. Jain ek Kuwaiti battery scrap plant mein bhi stake le rahi hai aur antimony extraction ke liye new tech use kar rahi hai. Company ko expect hai ki annual growth 40-50% rahegi, aur margins bhi 1% tak badh sakte hain. Jabki, 9MFY26 mein, revenue 38% badh kar ₹6,438 Crore ho gaya aur net profit 65% jump karke ₹281 Crore pahunch gaya.
Gravita India: 2029 Tak Badi Planning
Fir aata hai Gravita India. Yeh lead, aluminum, aur plastic recycle karte hain aur 13 facilities worldwide operate karte hain. Yeh log FY28 tak ₹1,500 Crore ka capex plan kar rahe hain capacity ko 700,000 MTPA se upar le jaane ke liye. Unka main goal hai ki 2029 tak value-added products (VAP) se revenue 50% se zyada aur non-lead businesses se revenue 30% se zyada ho jaye. Gravita ab lithium-ion battery aur paper recycling mein bhi enter kar rahi hai. 9MFY26 mein, revenue 9% badh kar ₹3,093 Crore aur net profit 31% badh kar ₹286 Crore raha.
Pondy Oxides & Chemicals: Lead Se Alag Focus
Aur last but not least, Pondy Oxides & Chemicals (POCL). Yeh India ka pehla LME-Registered Lead Brand hai, par ab woh lead par apni dependency kam kar rahe hain, jo abhi revenue ka 95% se zyada hai. FY27 tak lead ka share 65-70% tak lane ka target hai, iske liye copper, aluminum, aur plastics recycling ko expand kar rahe hain. POCL bhi lithium-ion battery aur e-waste recycling mein dekh rahi hai. Unke 'Target 2030' plan mein 20% se zyada revenue CAGR aur 15% se zyada volume growth ka target hai. 9MFY26 mein, POCL ne 114% ka record net profit jump dikhaya, jo ₹101 Crore raha, aur revenue 33% badh kar ₹2,007 Crore ho gaya.
Valuation Check
Valuation ki baat karein toh, Jain Resources ka ROCE 19.5% aur ROE 27.2% hai, jo achhi valuation justify karta hai. Gravita India (ROCE 17.6%, ROE 21.5%) aur Pondy Oxides (ROCE 19.5%, ROE 16.9%) bhi apni past performance se zyada premium par trade kar rahe hain. Ab dekhte hain yeh companies is badhti recycling market ka fayda uthane mein kitni successful hoti hain. Execution hi sab kuch hoga!