Namo Ewaste Management Ltd. (NAMOEWASTE) — Tipsheet

Namo Ewaste profit jumps 70%, sets ₹1,100 crore target

Tipsheet Editorial — Tue, 16 Jun 2026 13:56:12 GMT

FY26 net profit hit ₹14.35 cr as revenue rose 29%. Company targets five-fold revenue increase with hydrometallurgy push and ₹60 cr capex. Battery recycling utilization must leap from 10% to 60-70%.

What’s new

FY26 revenue ₹195 cr (up 29%), net profit ₹14.35 cr (up 70%).
Five-year revenue target of ₹1,100-1,200 cr from e-waste and battery recycling.
Hydrometallurgy pilot by end-2026, commercial plant at ₹60 cr capex by Q2-Q3 FY27.

Why it matters

Profit grew more than twice as fast as revenue, suggesting margins are widening. The five-year revenue target implies a six-fold jump from FY26 — a steep ambition for a company with a ₹568 cr market cap. The critical test is battery recycling utilization, which must soar from 10% to 60-70% in FY27; execution is everything.

What we’re watching

Hydrometallurgy pilot commissioning by end-2026.
Battery recycling utilization ramp to 60-70% in FY27.
EBITDA margin progression toward 12-18%.

The full read

Namo Ewaste's FY26 numbers are strong: ₹195 crore revenue (up 29%) and ₹14.35 crore net profit (up 70%). Profit growth outpacing revenue implies margins are widening. The real story is the ambition: a five-year revenue target of ₹1,100-1,200 crore — a more than five-fold increase. Management is betting on hydrometallurgy to extract critical minerals from lithium-ion batteries, with a ₹60 crore capex plan for a pilot and a commercial plant. The key metric to watch is battery recycling utilisation, which must jump from 10% in FY26 to 60-70% in FY27. That is a steep climb. At a market cap of ₹568 crore and a trailing P/E of 39.5, the stock already prices in much of this growth. The next 12 months will reveal whether execution matches the vision.

Primary source: NSE

Namo plots a fourfold revenue jump to main board in 18–24 months

Tipsheet Editorial — Mon, 25 May 2026 17:24:45 GMT

CEO Sanjeev Shrivastava set a target of ₹800–900 crore in revenue and ₹50 crore in profit for a main-board listing. The bet is on battery recycling.

What’s new

Namo targets a main-board listing once revenue hits ₹800–900 crore and profit crosses ₹50 crore.
The company plans to double e-waste revenue to ₹200–210 crore and grow battery recycling to ₹200 crore in FY27.
A ₹60 crore hydrometallurgy plant for lithium-ion battery metals is planned, with construction finishing in the next calendar year.

Why it matters

The main-board target is a public roadmap that requires a massive scale-up from FY26's ₹195 crore in revenue. The new battery-recycling business is the stated vehicle for that growth. The ₹60 crore capex is the first concrete number backing the pivot.

What we’re watching

Whether battery-recycling revenue can reach ₹200 crore from a nascent base in one year.
Execution on the hydrometallurgy plant timeline.
Progress toward the ₹800–900 crore revenue target.

The full read

Namo Ewaste Management posted a strong FY26, with revenue up 29% to ₹195.13 crore and net profit jumping 70% to ₹14.35 crore. The bigger story came on the call, where CEO Sanjeev Shrivastava set a public target for main-board migration at ₹800–900 crore in revenue and ₹50 crore in profit. The vehicle for that growth is battery recycling. Namo plans to double its e-waste revenue to ₹200–210 crore in FY27 while growing battery recycling to ₹200 crore. A ₹60 crore hydrometallurgy plant to extract metals from lithium-ion batteries is the first concrete capex behind the pivot. The main-board target is ambitious. Whether the battery business can scale that quickly is the test.

Primary source: NSE