Recycling Company Bags New Export Order Worth Rs 71400000 From a Dubai Based Company
The company has announced a new export order from Green Metals FZCO, a Dubai-based company.
Siyaram Recycling Industries Limited has announced a new export order from Green Metals FZCO, a Dubai-based company. The contract is valued at USD 850,000 (approximately Rs 7.14 crore) and involves the export of 150 tons of brass billets to China. Siyaram Recycling Industries is required to fulfil the order within 45 days.
Earlier, the company had received another export order from Green Metals FZCO. This contract was valued at USD 434,250 (approximately Rs 3.65 crore) and involved the export of 75 tons of brass billets to China, with a fulfilment timeline of 30 days.
Prior to these two orders, the company was awarded a contract by Axelon Group, Jamnagar, for the supply of 50 tons of brass rods, valued at approximately Rs 3 crore, to be completed within 30 days.
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About the Company
Siyaram Recycling Industries Ltd, established in 2007, is primarily engaged in recycling 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 specific aspects of the business. Siyaram Recycling Industries Ltd markets its products domestically across 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.
Stock Price Performance
The company has a market capitalization of around Rs 314 crore, and its stock has delivered multibagger returns of over 203 per cent from its 52-week low of Rs 55 per share. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.