Siyaram Recycling adds ₹2.34 cr domestic order to July streak
The fixed-cost brass scrap contract must be executed within 15 days. At 2.66% of market cap, it is material by disclosure standards yet modest relative to annual revenue of over ₹360 crore.
— 15 earlier stories on Siyaram Recycling Industries Ltd. →What's new
- Siyaram Recycling wins ₹2.34 cr fixed-cost domestic order for brass scrap honey.
- Execution deadline: 15 days from 21 July.
- Latest in a string of small contracts this month including ₹4.14 cr export and ₹2.90 cr domestic orders.
Why this matters
For a nano-cap with ₹88 cr market cap, a ₹2.34 cr order triggers the materiality disclosure rule. But with annual revenue of over ₹360 crore and a steady drumbeat of similar-sized wins, this changes nothing about the long-term investment thesis.
What we're watching
- Whether the company scales orders beyond the ₹4-5 cr range.
- Any sign of repeat business from Dharma Metalex.
- Next quarter's revenue trajectory to see if these wins compound.
The full read
Siyaram Recycling's ₹2.34 crore order from Dharma Metalex is the latest in a July flurry. The fixed-cost domestic contract must execute in 15 days. At 2.66% of market cap (₹88 cr) it is material by disclosure rules, yet modest relative to annual revenue of over ₹360 crore. The company has announced similar-sized wins repeatedly, including a ₹4.14 crore export order and a ₹2.90 crore domestic order earlier this month. For a nano-cap brass recycler, this is business as usual: frequent, small-ticket contracts that keep the lights on but don't bend the long-term curve. The investment thesis stays unchanged.
Questions answered
- How does this order size compare with Siyaram's annual revenue?
- The ₹2.34 crore order is modest relative to the company's annual revenue of over ₹360 crore, making it a routine contract rather than a needle-mover.
- Why is this order considered material despite its small size?
- For nano-cap companies with market caps around ₹88 crore, any order exceeding 1% of market cap (here 2.66%) must be disclosed, even if modest in absolute terms.
- Who is the counterparty Dharma Metalex?
- Dharma Metalex is not a marquee-name buyer. The order does not signal a strategic partnership or entry into a new customer segment.
- How many orders has Siyaram announced in July 2026?
- At least four: ₹99 lakh on July 17, ₹4.14 cr (export) and ₹2.90 cr on July 16, and this ₹2.34 cr order, indicating steady but small-ticket business.
- Does this order change the investment thesis for Siyaram Recycling?
- No. The company consistently wins similar small contracts. This one does not alter the revenue outlook or imply a growth acceleration.
Siyaram Recycling Industries Ltd.
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All notes on SIYARAM →- 21 Jul 2026 · 11:56 AM IST Siyaram Recycling adds ₹2.34 cr domestic order to July streak
- 4d ago Siyaram bags ₹99 lakh brass scrap order from repeat buyer Metal Scrap India
- 5d ago Siyaram lands first export order, ₹4.14 cr brass billets to Green Metals
- 5d ago Siyaram lands fourth brass order in July, ₹2.90 cr from Saanvi
- 6d ago Siyaram Recycling lands another small brass order from Metal Scrap India