Brass Billets Manufacturer Bags New Order Worth Rs 3,40,00,000 From Shree Extrusions Ltd, Jamnagar
The company has a market cap of over Rs 300 crore and the stock gave multibagger returns of 200 per cent from its 52-week low of Rs 55 per share.
Siyaram Recycling Industries Limited has secured a significant order from Shree Extrusions Ltd, Jamnagar, amounting to approximately INR 3.40 crore. This domestic contract entails the supply of 60 tons of brass scrap within a 40-day timeframe. This order underscores the company's strong position in the domestic market and its ability to fulfil large-scale requirements for recyclable materials.
Earlier, the company received a Purchase Order of Brass Billet from Green Metals FZCO, Dubai for an amounting to 8,50,000 USD (Approx. Rs 7.14 crore). This international order entails the supply of 150 tons of Brass Billet for export to China within a 45-day timeframe.
About the Company
Siyaram Recycling Industries Ltd, established in 2007, is primarily engaged in the recycling of brass scrap. The company's operations involve segregating brass scrap, manufacturing brass ingots, billets, and rods, as well as producing brass-based components. The manufacturing facilities are spread across three units, each dedicated to a specific aspect of the business. Siyaram Recycling Industries Ltd markets its products domestically in 18 states and Union Territories of India, with a significant portion of its revenue generated from Gujarat. Additionally, the company exports its products to countries including China, Germany, Belgium and Oman.
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The company has a market cap of over Rs 300 crore and the stock gave multibagger returns of 200 per cent from its 52-week low of Rs 55 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.