Baheti Recycling Industries Limited (**BRIL**) is a premier Indian sustainable metal recycler with over **30 years** of operational excellence. Operating within a circular economy framework, the company transforms aluminum scrap into high-grade alloys and deoxidants for critical industrial applications. By utilizing recycled materials, BRIL consumes **95% less energy** than primary production and prevents **9 tonnes of CO2 emissions** for every tonne of metal reused. The company is currently executing **Vision 2028**, a strategic roadmap to double its revenue to **₹1,100+ crore** by transitioning from a traditional recycler into a high-margin, technology-driven partner for global Original Equipment Manufacturers (OEMs). --- ### **Core Product Portfolio & Industrial Applications** BRIL operates a diverse manufacturing setup capable of producing over **100 different types** of aluminum alloys. The portfolio is strategically divided into two primary categories: #### **1. Aluminium Alloy Ingots** * **Specifications:** Engineered for high strength-to-weight ratios, thermal resistance, and corrosion protection. * **Applications:** Critical components for the **Automotive** sector (cylinder heads, engine brackets, alternator castings), **Electrical Transmission**, and **General Engineering**. * **Strategic Focus:** Approximately **80%** of management focus is dedicated to these niche alloys used in high-performance industrial parts. #### **2. Aluminium De-Ox Products** * **Forms:** Notch Bars, Cubes, Shots, and Ingots. * **Applications:** Primarily used in **Steel Manufacturing** to remove oxygen during smelting, enhancing the purity and structural integrity of the final steel product. * **Features:** Precision-engineered for dosage control and rapid melting with minimal slag. #### **3. Emerging Product Verticals** * **Aluminium Wire Rods:** A new **12,500 MTPA** facility is being commissioned to address the electrical and power sectors. * **Aluminium Billets:** Targeted specifically at the rapidly growing **Solar Power Industry**. * **Zinc Alloys:** Intended for the **Automobile** and **Electrical Equipment** manufacturing sectors. --- ### **Manufacturing Infrastructure & Operational Efficiency** Operations are consolidated at a **5-acre** integrated facility in **Dehgam, Gujarat**. The site includes **2.5 acres** of idle land reserved for future expansion. | Asset / Technology | Capacity / Detail | Strategic Impact | | :--- | :--- | :--- | | **Total Installed Capacity** | **38,000 MTPA** (as of H1FY26) | Scaled from **29,160 MTPA** in FY25. | | **Tilting Rotary Furnaces (TRF)** | **2 Pairs (40 MTPD each)** | **2% yield increase**; **5%–7% cost reduction**. | | **Electric & Small Furnaces** | **15 Units** | Provides flexibility for small-batch niche alloys. | | **Capacity Utilization** | **~64%** | Significant headroom for volume expansion. | | **Asset Turnover** | **8x to 9x Target** | A single **₹10 Cr.** TRF unit can generate **₹200 Cr.** revenue. | **Energy & Sustainability Initiatives:** * **Solar Power:** Installing a **1.65MW DC Solar PV Plant** to reduce energy costs by **60%**, projected to save **₹1.3 Cr. to ₹1.5 Cr.** annually. * **Fuel Transition:** Moving toward **biodegradable fuels** for melting operations to further lower the carbon footprint. --- ### **Market Presence & Strategic Client Base** BRIL serves over **150 worldwide customers** across **10+ industrial applications**. The company holds a **One Star Export House** status and is expanding its footprint in **Europe** (Hungary, Turkey, Germany) and **Asia** (Vietnam, Japan). **Marquee Clientele:** * **Automotive:** Ashok Leyland Group (Ashley Alteams), Uno Minda, Samvardhana Motherson, Shriram Piston. * **Steel & Engineering:** ArcelorMittal Nippon Steel, Crompton & Greaves. * **Key Recent Wins:** A **₹121 Cr. MOU** with Minda Corporation and a **₹50 Cr.** order from ArcelorMittal Nippon Steel. **Certifications:** * **ISO 9001, 14001, 45001**, and **IS 617:1994**. * **IATF 16949 (June 2025):** This critical certification enables direct supply to Tier-1 automotive manufacturers like **Maruti** and **Bajaj**. --- ### **Financial Performance & Capital Structure** BRIL has demonstrated a **5-year Revenue CAGR of 42.52%**, with a recent shift toward higher profitability through operating leverage. | Metric (₹ in Crore) | H1FY26 | FY25 | FY24 | FY23 | | :--- | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **315.14** | **524.31** | **429.34** | **359.96** | | **EBITDA** | **21.24** | **40.60** | **18.80** | **11.81** | | **EBITDA Margin** | **6.74%** | **7.75%** | **4.38%** | **3.28%** | | **Profit After Tax (PAT)** | **9.26** | **18.01** | **7.20** | **5.28** | | **PAT Growth (YoY)** | **32.01%** | **150.11%** | **36.27%** | - | **Capital Raising (February 2026):** To fund its expansion, the company raised **₹71.28 Cr.** through a preferential issue of equity and warrants at **₹592.50** per unit. This capital is earmarked for technology upgrades and working capital to support the **₹1,100+ Cr.** revenue target. --- ### **Supply Chain & Risk Mitigation Strategy** BRIL operates in a volatile commodity environment and employs rigorous risk management protocols: * **Sourcing & Inventory:** Raw material is primarily imported from the **USA, UK, and New Zealand**. To mitigate supply chain disruptions, BRIL maintains high inventory levels (e.g., holding **1,200 tons** for **500-ton** orders). * **Price Hedging:** Scrap purchase prices are locked as a percentage of **LME (London Metal Exchange)** until arrival at the port. Sales are benchmarked against **NALCO** or **MCX** prices to protect margins. * **Regulatory Tailwinds:** The company is positioned to benefit from **Extended Producer Responsibility (EPR)** mandates (April 2025) and the **FY28** mandate requiring **5% recycled content** in industrial manufacturing. * **Financial Solvency:** The company manages **₹200.69 Cr.** in total credit facilities, secured by assets and personal guarantees from promoters. Management maintains a focus on improving the cash conversion cycle and targeting sustainable **3.5% to 5% PAT margins**.