Siyaram Recycling Wins ₹9.8 Million Order from Micronova Industries

The company continues to bolster its domestic revenue pipeline with a new fixed-cost supply contract for brass scrap materials.

JAMNAGAR — Siyaram Recycling Industries Limited has officially secured a new domestic order valued at approximately ₹9.84 million (₹98.41 lakh) from Micronova Industries. The contract, which was disclosed by the company on July 8, 2026, marks the latest in a series of business wins for the Jamnagar-based metal recycler as it seeks to strengthen its market position.

The agreement requires Siyaram Recycling to supply "Brass Scrap Honey," a specialized grade of recycled metal used in various industrial applications. According to the company’s regulatory filing, the order is structured as a fixed-cost agreement and is slated for completion within 15 days of the award.

Operational Momentum and Order Execution

This contract follows a flurry of order announcements from Siyaram Recycling Industries in early July 2026. The company, which specializes in the segregation and processing of brass scrap into ingots, billets, and plumbing components, has been actively securing small-to-medium-ticket contracts to maintain steady operational momentum.

By securing repeat business from various domestic trading counterparties, the company is focusing on high-frequency, short-execution cycles to optimize its working capital. The Micronova Industries contract is classified as an arm's length transaction, with the company confirming that no promoters or promoter group members hold any interest in the client entity.

Strategic Context and Market Performance

The current order pipeline is part of a broader recovery effort for Siyaram Recycling Industries, which has faced significant market volatility over the past year. Having undergone a corporate name change from Siyaram Impex to its current identity in 2023, the firm has leveraged its infrastructure in Jamnagar to process metals procured from international markets, including the USA, UK, and the Middle East.

While the company’s stock performance has been impacted by broader market trends, these consistent order wins are viewed by analysts as a stabilizing factor for its revenue stream. Previous notable contracts have included a ₹5.99 crore order from The Supreme Industries Limited and several engagements with firms like Saanvi Metal Craft and Metal Scrap India, reflecting the company’s diversified client base.

Official Sources

The award of the contract was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The intimation to the BSE Limited was signed by Managing Director Bhavesh Ramgopal Maheshwari, affirming the company's commitment to transparent corporate governance and timely reporting of material developments.

Why It Matters

For stakeholders, this order underscores the company’s ability to generate continuous business flow within the domestic metal recycling sector. The efficiency of these fixed-price, short-term contracts allows the firm to hedge against price volatility in the global metal markets while ensuring a steady throughput at its processing units.

Key Facts at a Glance

• Order Value: ₹98,41,200 (approx. ₹9.84 million).

• Client: Micronova Industries.

• Product: Brass Scrap Honey.

• Execution Timeline: Within 15 days.

• Contract Nature: Fixed-cost domestic agreement.

Frequently Asked Questions (FAQ)

What is the nature of the contract secured by Siyaram Recycling? It is a fixed-cost domestic supply contract for Brass Scrap Honey, to be fulfilled within a 15-day window.

Is this a related party transaction? No, Siyaram Recycling has explicitly stated that the contract is an arm’s-length transaction and that its promoters have no interest in Micronova Industries.

Where does Siyaram Recycling procure its brass scrap? The company procures brass scrap primarily from international markets including the USA, UK, Europe, and the Middle East before processing it at its facilities in Jamnagar.

How does this impact the company's project pipeline? This order contributes to the company's ongoing efforts to maintain operational revenue through a series of short-term, high-frequency contract wins across the domestic sector.

Source: BSE India, Siyaram Recycling Industries Corporate Filings