The Jain Metal Group, incorporated in 1999, operates in the recycling and production of non-ferrous metals, focusing on lead, copper, and aluminum products. The company has a strong global presence, sourcing materials from over 120 countries. Its primary operations include the recycling of metal scrap, manufacturing of non-ferrous metal products, and trading. The company also engages in gold refining and has partnered internationally for expanding its business.
Jain Resource Recycling Limited IPO
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1. Pre-Fab Business: Jain Metal Group offers end-to-end solutions in pre-engineered steel buildings, pre-fabricated modular structures, and light gauge steel frame systems. The company handles design, manufacturing, installation, and erection, with three manufacturing facilities and a strong focus on innovation and cost-effectiveness.
2. EPS Packaging Business: The company manufactures EPS (expanded polystyrene) products, such as sheets and molded packaging solutions, for industries like construction, packaging, and consumer goods. These products are lightweight, insulating, and impact-resistant.
Global Footprint and Customers
Jain Metal Group caters to a diverse customer base, including industries such as lead-acid batteries, electrical, electronics, automotive, and pigments. The company has an extensive global network across regions like Singapore, China, Japan, Taiwan, and South Korea. Major customers include Vedanta Limited-Sterlite Copper, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.
Competitive Strengths
i) Track Record of Profitability: Jain Metal Group has established itself as a leader in the metal recycling sector, with its lead ingot registered with the London Metal Exchange and “JAIN 9998” brand recognized by the MCX.
ii) Global Reach: The company has a wide-reaching global footprint, sourcing materials from 120+ countries and maintaining a strong presence in the international market.
iii) Diverse Customer Base: Serving clients across multiple industries reduces the company’s reliance on any single sector, providing financial stability and growth opportunities.
iv) Strategic Recycling Facilities: With three facilities in Chennai, Jain Metal Group benefits from centralized operations and efficient resource use.
v) Commodity Price Hedging: The company uses hedging to mitigate risks from fluctuations in base metal prices, ensuring profitability.
Objects of the Jain Resource Recycling Limited IPO:
The net proceeds of the Fresh Issue are proposed to be utilized towards funding of the following objects:
1. Pre-payment/re-payment of a portion of certain outstanding borrowings (₹500 cr)
2. General corporate purposes.
Jain Resource Recycling Limited IPO Details:
| Open Date: | Sep 24 2025 |
| Close Date: | Sep 26 2025 |
| Total Shares: | 5,38,79,310 |
| Face Value: | ₹ 2 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 1250 Cr. |
| Lot Size: | 64 Shares |
| Issue Price: | ₹ 220-232 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Oct 01 2025 |
Promoters And Management:
1. Kamlesh Jain is the Chairman and Managing Director with over 30 years of experience in the metal recycling industry. He holds a Bachelor’s in Commerce from the University of Madras and has been associated with the company since 2022. He is also the Senior Vice President of Bombay Metal Exchange’s South India chapter and Regional Vice President of the Recycling Association of Africa.
2. Mayank Pareek is the Joint Managing Director with over 10 years of experience in the metal industry. He holds a Bachelor’s in Commerce and is a qualified Chartered Accountant. He was a designated partner at Fervent Global LLP and has been with the company since 2022. He is also a member of the Lead Product Advisory Committee of the Multi Commodity Exchange of India.
3. Hemant Shantilal Jain is the Executive Director and CFO with over 15 years of experience in accounts, audit, and taxation. He holds a Bachelor’s in Commerce and is a Chartered Accountant. He was previously with Spell Bound Audits Private Limited and has been associated with the company since 2022, serving as CFO at Jain Metal Rolling Mills before its conversion into the company.
Financials of Jain Resource Recycling Limited IPO:
| Particulars | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations (Cr) | 7,125.70 | 4,428.40 | 3,064.00 |
| EBITDA (Cr) | 368.5 | 227.2 | 124.1 |
| EBITDA Margins | 5.17% | 5.13% | 4.05% |
| PAT (Cr) | 223.2 | 163.8 | 91.8 |
| PAT Margins | 3.13% | 3.70% | 3.00% |
| ROCE | 24.22% | 19.13% | 12.31% |
| Debt to Equity Ratio(In Times) | 0.92 | 1.65 | 2.95 |
| Operating Cash Flows | 3.5 | 33.33 | 10.8 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Jain Resource Recycling Limited | 7,125.70 | 5.17% | 3.13% | 24.22% | 0.92 | 8,005.99 | 35.87 |
| Gravita India Limited | 3869 | 8% | 8.09% | 21.50% | 0.14 | 12,263 | 36.3 |
| Pondy Oxides & Chemicals Limited | 2028 | 5% | 3.21% | 16.90% | 0.17 | 3,974 | 50.9 |
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