CMR Green Technologies Ltd(CMRGREEN)

NSE: CMRGREENBSE: 544777

₹ 196-6.04%refreshed 23 Oct, 03:54 pm ISTMarket cap: ₹ 4,293 crWebsite: www.cmr.co.inUpdated: 24 Oct 2026

About

CMR Green Technologies Ltd is an aluminium recycling company that produces secondary aluminium alloys, billets, and other recycled metal products primarily for the Indian automotive sector. It operates plants across Tirupati, Jharsuguda, Shoolagiri, and Bawal, with two greenfield sites under construction. Revenue was Rs 8640.19 crore in FY26.^[1]

Volume mix and segments

In FY26, volume mix stood at 66% automotive alloys, 10% non-automotive aluminium, and 24% other metals; management targets a 60-20-20 mix over FY27.^[2]
Total sales volumes reached 1,12,336 MT in Q1 FY27, up 25.2% YoY; aluminium alone grew 32.5% YoY to 90,557 MT.^[2]
Liquid aluminium crossed 50% of aluminium sales as of Q1 FY27.^[2]

Products and plants

The company works in aluminium alloys recycling, per the FY26 annual report.^[3]
FY26 annual report: the used beverage can (UBC) business is at Sambalpur, Odisha, and billets are made at Tirupati, with a focus on green billets and low-carbon aluminium demand.^[3]
Installed recycling capacity stood at 6,15,150 MTPA as of March 31, 2026; utilisation was approximately 65% in Q1 FY27.^[2]
Billet volumes grew 149% YoY and UBC recycling volumes grew 333% YoY in Q1 FY27.^[2]

Key operating metrics

EBITDA was INR 12.4/kg in Q1 FY27, vs INR 12.2/kg in Q1 FY26 and INR 12.0/kg in Q4 FY26.^[2]
Gross margin was INR 27,450/tonne in Q1 FY27, vs INR 26,000/tonne in FY26.^[2]
Cash conversion cycle was 65 days in Q1 FY27 vs 69 days in Q4 FY26; inventory days were 40 vs 45.^[2]

Customers and distribution

Customers are mainly automotive OEMs; Ather Energy was added as an electric two-wheeler customer as of Q1 FY27.^[2]
Liquid aluminium is delivered just-in-time in 45-60 minute windows.^[2]
The FY26 annual report states an aim to expand the CMR brand across domestic and international markets.^[3]

Expansion and capex

Greenfield plants at Shoolagiri (Tamil Nadu) and Bawal (Haryana) are under construction, with Rs 53 Cr invested in Q1 FY27; both are expected to commission within FY27.^[2]
Installed capacity is targeted to exceed 7,00,000 MTPA by end of FY27.^[2]
FY27 capex guidance is approximately INR 200 Cr.^[2]
The Odisha UBC plant targets ~4,000 MT/month within FY27; a second billet/sheet ingot plant is under evaluation.^[2]

Funding and governance approvals

FY26 annual report: board sought to raise the borrowing limit from Rs 1500 crore to Rs 2000 crore, with authority to create charges on assets.^[3]
Approval sought for loans, guarantees and investments in subsidiaries and bodies corporate up to Rs 1500 crore; articles amended to allow corporate guarantees for group entities.^[3]
New executive director Ankur Singh at Rs 2.20 crore; enabling approval for executive director bonus up to Rs 10 crore per year (FY26 annual report).^[3]
Secretarial auditor changed to Deepak Goel & Associates for FY27-FY31.^[3]

Recent developments

CFO Yugal Kishor Garg resigned effective 23 October 2026; Satish Kumar Kaushik proposed as CFO subject to Board approval in November 2026.^[4]
Federal Bank raised total credit facility from Rs 148 Cr to Rs 165 Cr in September 2026.^[5]
Credit facilities were further enhanced in October 2026.^[6]

Regulation

India's EPR framework mandates minimum recycled aluminium content of 5% in FY28, rising to 10% and above thereafter.^[2]

Market Cap

₹4,293 Cr

High / Low

₹275 / 194

Stock P/E

20.2

Price / Book

2.8

EPS

₹9.7

ROCE

12.4%

ROE

13.9%

OPM

4.6%

Debt / Equity

0.91

Sales

₹8,640 Cr

Net Profit

₹228 Cr

Promoter holding

84.0%

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