Sunlite Recycling Industries Ltd(SUNLITE)

NSE: SUNLITE

₹ 609+1.37%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 841 crUpdated: 24 Oct 2026

About

Sunlite Recycling Industries makes copper rods and wires and value-added copper products such as annealed tin coated (ATC) wire and busbars. In February 2026 it completed the integration of Sunlite Aluminium Private Limited as a wholly-owned subsidiary, which made it a copper-and-aluminium conductor business. Reported revenue for FY26 was 2791.1 and combined installed capacity was 37,000 MTPA in Q1 FY27.^[1][2]

Business segments

Copper segment: sales volume was 5,743 MT in Q1 FY27 vs 4,975 MT a year earlier (+15.43%), and segment revenue rose 72.91% YoY.^[3]
Aluminium (Sunlite Aluminium, SAPL): revenue was ₹52.86 Cr in Q1 FY27 vs ₹26.13 Cr a year earlier (+102.25%), on volume of 1,387 MT (+52.24% YoY).^[3]
Aluminium contributed about 1-2% of consolidated PAT in FY26, reflecting only about 2 months of consolidation.^[1]

Products and customers

Products include copper wire rods, copper wire and strip, ATC wire and copper busbars, plus aluminium products used in power transmission and electrical equipment.^[1]
ATC wire capacity was expanded to serve rising demand, particularly from the solar power transmission sector.^[4]
Cable makers accounted for about 80% of customer end use in FY26.^[1]
The top five customers accounted for about 50-55% of revenue in FY26.^[1]
Sunlite Aluminium receives a 15% corporate tax rate, a 7% interest subsidy and 100% net SGST reimbursement for 10 years.^[5]

Capacity and utilisation

Combined installed capacity was 37,000 MTPA in Q1 FY27.^[3]
Copper wire rod capacity is 25,000 MTPA. Utilisation was 93.61% in FY26 vs 91.73% in FY25.^[3]
Copper rod capacity rose from about 16,790 MTPA to 25,000 MTPA during the first half of FY26.^[5]
ATC wire capacity was doubled from 800 MTPA to 1,600 MTPA. Production was about 1,077 MT in FY26, about 56% utilisation.^[1]
The copper busbar line (720 MTPA) was commissioned in August 2025 and ran at about 18% utilisation in H1 FY26.^[5]
Sunlite Aluminium has 12,000 MTPA of capacity and ran at 56% utilisation in FY26. The company expects 70-75% in FY27.^[1]
Utilisation of copper wire fell from 66% to 44%, and of copper strip from 27% to 15%, in FY26 as feedstock was shifted to ATC wire and busbars.^[1]

Key operating numbers

Standalone sales volume was 25,694 MT in FY26, up 52.5% YoY.^[3]
Standalone EBITDA per tonne was ₹23,230 in FY26, up 64.3% YoY. Management gave the FY25 figure as about INR14,000.^[3]
EBITDA per tonne was ₹17,516 in H1 FY26 vs ₹15,407 in H1 FY25.^[5]
Sales volume was 71,41,129 kg in Q3 FY26 vs 40,67,432 kg in Q3 FY25 (+76%).^[4]
Management said FY26 revenue growth came roughly half from volume and half from higher copper prices.^[1]

Expansion and capex

The Board approved ₹37 Cr of capex, funded by bank borrowings and internal accruals, to raise copper wire rod capacity to 45,000 MTPA and value-added products capacity to 3,540 MTPA. Target completion is Q1 FY28.^[3]
The plan includes a 1,000-ton copper anode and busbar expansion at ₹13 Cr and a 20,000-ton copper products addition at SAPL at ₹24 Cr, both by Q1 FY28.^[3]
The value-added products expansion will use Upcast and Conform technologies to make specialised copper products for domestic and export markets.^[3]
The company has acquired more than 20,000 sq yards of land for expansion.^[1]
The previously planned 15,000 MTPA copper cathode plant has been dropped. A 10,000-12,000 MTPA copper anode plant (about INR6 crore capex) is planned for FY28 instead.^[1]
FY27 volume growth is guided at 10-15%, because new capacity comes on stream only in FY28.^[1]

Recent developments

A branch office in Ahmedabad began operations on 29 June 2026 to strengthen the company's presence in Western India.^[3]
The integration of Sunlite Aluminium as a wholly-owned subsidiary was completed in February 2026. It had been announced in November 2025.^[1]
The SAPL deal used a preferential issue of INR62.9 crore. Of this, INR43.5 crore was swap consideration and the balance was subscribed by HNI investors.^[5]
Phase 2 of the ATC wire facility was commissioned on 3 December 2025.^[4]
A maiden final dividend of Rs. 1 per share (10%) on Rs. 10 face value was proposed for FY2025-26.^[6][1]

Market Cap

₹841 Cr

High / Low

₹753 / 165

Stock P/E

20.4

Price / Book

5.2

Book Value

₹117

EPS

₹29.7

No. of Shares

1.38 Cr

ROCE

31.5%

ROE

25.4%

OPM

2.1%

Debt / Equity

0.13

Sales

₹2,791 Cr

Net Profit

₹41 Cr

Promoter holding

74.7%

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