Nupur Recyclers Limited (NRL) AI Stock Analysis

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Nupur Recyclers Limited

(NSE:NRL)

Select Model

Rating:52Neutral

Action:reiterated

Date:08/24/26

The score is held back primarily by weak and inconsistent cash generation (negative operating cash flow for multiple years and still negative free cash flow in FY2026), with an additional valuation headwind from a high P/E. The balance sheet remains reasonably supportive despite higher FY2026 debt, while technicals cannot be confirmed due to missing indicator data.

Positive Factors

Revenue ExpansionThe strong reported growth rate and FY2026 rebound indicate continued business expansion despite year-to-year variability. Sustained revenue growth could improve operating leverage and strengthen the company’s position in waste-management markets over the medium term.

Negative Factors

Weak Cash ConversionRepeated negative operating cash flow and renewed negative free cash flow show that accounting profits have not translated consistently into cash. Persistent working-capital or reinvestment needs could constrain self-funded growth and increase reliance on external financing.

Nupur Recyclers Limited Business Overview & Revenue Model

Company Description

Nupur Recyclers Limited, established in 2019 and headquartered in Delhi, India, is a metal scrap processing and recycling specialist. The company engages in the global procurement, processing, and trading of both ferrous and non-ferrous metal waste,...

How the Company Makes Money

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Nupur Recyclers Limited Financial Statement Overview

Summary

Income statement is moderately positive (profitable with decent scale) but shows volatile revenue and margin consistency. Balance sheet is supportive with a stronger equity base, though debt increased materially in FY2026. Cash flow is the main drag: multiple years of negative operating cash flow and free cash flow remains negative in FY2026 despite improved operating cash flow.

Income Statement

62Positive

Balance Sheet

70Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	2.44B	2.16B	1.58B	2.40B	1.87B	1.59B
Gross Profit	283.60M	220.50M	226.10M	112.05M	168.55M	247.99M
EBITDA	250.38M	277.51M	250.03M	131.35M	193.04M	266.27M
Net Income	171.55M	142.17M	144.53M	72.08M	122.23M	188.72M
Balance Sheet
Total Assets	0	1.98B	1.44B	1.15B	899.84M	737.68M
Cash, Cash Equivalents and Short-Term Investments	69.76M	69.76M	315.25M	74.86M	31.39M	322.15M
Total Debt	0	334.32M	125.59M	134.74M	2.50M	22.34M
Total Liabilities	-1.47B	509.89M	183.85M	227.72M	87.68M	106.36M
Stockholders Equity	1.47B	1.34B	1.18B	855.73M	732.07M	631.32M
Cash Flow
Free Cash Flow	116.97M	-17.39M	-230.15M	-121.25M	-172.28M	133.13M
Operating Cash Flow	183.89M	156.51M	-186.66M	-110.67M	-171.52M	133.76M
Investing Cash Flow	-46.41M	-159.05M	-10.90M	107.75M	-25.17M	-196.01M
Financing Cash Flow	-164.03M	29.99M	163.95M	-10.10M	-23.25M	294.56M

Nupur Recyclers Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:NRL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PLASTIBLEN	58Neutral	INR 4.15B	9.00	―	1.88%	9.17%	40.71%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:NRL	52Neutral	―	64.52	―	―	40.65%	26.16%
IN:VIKASECO	42Neutral	INR 1.73B	461.90	―	―	-3.00%	-96.73%
IN:JIYAECO	41Neutral	INR 2.13M	-10.00	―	―	―	-97.28%
IN:PEARLPOLY	39Underperform	INR 264.48M	-4.94	―	―	-8.05%	-51.04%

* General Sector Average

Performance Comparison

IN:NRL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:JIYAECO	Jiya Eco-Products Ltd.	20.02	-16.08	-44.54%
IN:PEARLPOLY	Pearl Polymers Limited	15.71	-12.34	-43.99%
IN:PLASTIBLEN	Plastiblends India Limited	159.80	-16.75	-9.49%
IN:VIKASECO	Vikas EcoTech Limited	0.98	-0.92	-48.42%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 24, 2026

Nupur Recyclers Limited AI Stock Analysis

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