CMR Green guides 25% volume growth in FY27 with ₹200 cr capex
India's largest aluminium recycler held its first earnings call as a listed company. Management backed growth with two new plants and diversification into beverage-can recycling and green billets.
— 3 earlier stories on CMR Green Technologies Ltd. →What's new
- First earnings call as listed company; management guided ~25% volume growth for FY27.
- Two new plants under construction at Shoolagiri and Bawal; capex plan of ₹200 cr for FY27.
- FY26 consolidated revenue ₹8,640 cr, EBITDA ₹449 cr, PAT ₹228 cr, per-tonne EBITDA ~₹11,000.
Why this matters
CMR Green holds a dominant 45% automotive market share in aluminium recycling. The 25% volume guidance, if delivered, would drive strong revenue growth. But the transcript is post-event: the market already absorbed the numbers. The real watch is execution on new capacity and margin improvement from technology and product mix.
What we're watching
- Execution of new capacity at Shoolagiri and Bawal.
- Scrap-sourcing resilience amid potential export bans.
- EBITDA per tonne improvement from technology and product diversification.
The full read
CMR Green held its first earnings call as a listed company. The headlines: 25% volume growth in FY27, backed by ₹200 cr capex for two new plants. FY26 revenue hit ₹8,640 cr, EBITDA ₹449 cr, per-tonne EBITDA ₹11,000. Strong. Diversification into beverage-can recycling and green billets broadens the product mix. But the transcript is post-event, absorbed by the market on July 2. The stock trades at 37.9x trailing earnings — a price that already assumes delivery of these ambitions, leaving little room for error. Execution is the test. Volume must be matched by margin expansion, and the next quarters will show whether the guidance was ambition or forecast — and whether CMR can sustain its dominant 45% automotive share while scaling new product lines.
Questions answered
- What were CMR Green's full-year FY26 results?
- Consolidated FY26 revenue was ₹8,640 cr, EBITDA ₹449 cr, PAT ₹228 cr. Per-tonne EBITDA stood at roughly ₹11,000.
- How does the company plan to achieve 25% volume growth in FY27?
- The growth will come from two new plants under construction: one in Shoolagiri (Tamil Nadu) and one in Bawal (Haryana), along with expansion into beverage-can recycling and green billet production.
- What are the key risks to CMR's scrap supply?
- Management addressed potential export bans on scrap and discussed hedging practices. The company sources scrap from multiple domestic and international sources, which provides resilience.
- What is CMR's market share and positioning?
- CMR is India's largest aluminium recycler with a 45% automotive market share. The company is diversifying into beverage-can recycling and green billets to broaden its product mix.
- How does this transcript differ from the live call?
- The transcript is a post-event document; the live call already conveyed all new information. The transcript adds no new material facts beyond what was discussed on July 2, 2026.
CMR Green Technologies Ltd.
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All notes on CMRGREEN →- 4 Jul 2026 · 12:44 PM IST CMR Green guides 25% volume growth in FY27 with ₹200 cr capex
- 4d ago CMR Green posts 30% revenue jump, guides 25% volume growth in FY27
- 6d ago CMR Green confirms FY26 numbers, subsidiary expansions on track
- 6d ago CMR Green's FY26 audit confirms prior numbers, expansions on track