Parmeshwar Metal Ltd is an Indian copper recycler - it takes scrap metal and turns it into the copper wire and rods that carry electricity through buildings, cars and power grids. Founded in 2016 by a promoter group with more than 15 years in the copper industry, the company raised public equity through a BSE SME listing in January 2025 and runs its entire operation from a single factory in Gujarat with just four employees. The recurring logic is simple: buy scrap where others see waste, process it into standardised industrial grades, and sell into a domestic market that always needs conductive metal - a lean, single-site model built on the founders' supplier relationships and recycling know-how. # Business segments A single engine - copper recycling and manufacturing - that converts scrap into wire and rods for India's electrical industry, supplemented by trading in related non-ferrous metals. ## 1. Copper recycling: turning scrap into the wires that power India **One factory, 18,000 tonnes of annual capacity, and a business model that earns its margin by buying discarded copper cheaper than mined metal and selling finished wire at industrial grades.** - **Scrap is the raw-material advantage** - the company feeds its furnaces with copper scrap rather than virgin ore or refined cathode, which means its input costs are tied to the scrap market rather than global mining prices, giving it a structural cost edge when scrap is plentiful. - **Two products, one process** - the Dehgam plant produces copper wire and copper wire rods, the foundational forms that downstream manufacturers draw into thinner conductors for power cables, building wires, transformers, automotive wiring, household cables, and bare or enameled wires. - **ISO-certified, lean-staffed** - the facility holds ISO 9001:2015 quality certification and operated in FY25 with a workforce of just four people, a staffing level that signals a highly automated or tightly orchestrated production line. - **Trading fills the gaps** - alongside its own manufactured output, the company trades in non-ferrous metal related products, which lets it serve customer demand beyond what its single plant can produce and keeps it plugged into broader metal-market flows. - **India-only, Gujarat-anchored** - all operations are domestic, with the factory located on State Highway 69 in Dehgam, Gandhinagar district, positioning it within Gujarat's industrial corridor for both scrap inflow and finished-goods dispatch. # Group structure and partners **A standalone listed entity with no subsidiaries today, but a new copper-extrusion venture is being carved out - and a dense web of related-party relationships runs through its supply chain.** - **No subsidiaries as of FY25** - the company reported zero subsidiaries, joint ventures or associate companies in its last annual filing, making it a pure standalone operation at that date. - **A new subsidiary is taking shape** - in June 2026, the board approved incorporating "Parmeshwar Copperx Private Limited" in Gujarat to manufacture metal products including copper extrusion; Parmeshwar Metal will hold 51% with an initial investment of Rs. 5.1 lakh for 51,000 equity shares. - **Related parties are deeply embedded** - the company transacts through sales, purchases, job work, services and leases with at least seven related entities, including Parmeshwar Recycling Limited, Yogeshwar Metal Private Limited, Fortunate Metal Private Limited, Shree Mahadev Metal, Shree Dev Metal, Parmeshwar Cold Storage Private Limited and Royal Regina Habitat Private Limited, with estimated annual transaction values ranging from Rs. 500 lakh to Rs. 25,000 lakh per party. - **Banking backbone** - working-capital facilities as of February 2026 included two cash-credit lines of Rs. 30.63 crore and Rs. 28.12 crore, a bank guarantee of Rs. 1.25 crore, and a standby letter of credit of Rs. 9 crore, all with State Bank of India.