CMR Green Technologies Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript CMR Green Technologies Ltd filed with BSE on 04 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
CMR Green Technologies reported FY26 consolidated revenue of INR8,640 crores, up 30% year-on-year, with EBITDA of INR449 crores, up 50%, and profit after tax of INR228 crores, up 47.30%. Total volume grew 24% to 80,381 metric tons, with the aluminum segment growing 27% to 65,636 metric tons and the non-ferrous metal segment growing 18% to 14,745 metric tons. Management discussed capacity expansion plans, new plants under construction in Shoolagiri and Bawal, and responded to analyst questions on EBITDA per ton, scrap sourcing risks, and competitive positioning.
Numbers mentioned
Revenue: INR 8,640 crores (FY26)
p. 7
“The revenue stood at INR 8,640 crores, which reflect a year-on-year growth of 30%, which is driven by the increased volume growth and the operational efficiency.”
Yugal Garg, page 7 of the filed PDF · View the filing
EBITDA: INR449 crores (FY26)
p. 7
“Company's consolidated EBITDA for the FY26 stood at INR449 crores, which reflect a growth of 50% year-on-year basis, with a margin remains healthy at 5.2% or INR11,000 per ton.”
Yugal Garg, page 7 of the filed PDF · View the filing
Profit after tax: INR228 crores (FY26)
p. 7
“Consolidated profit after tax come at INR228 crores, which reflect a growth of 47.30% on year-on-year basis.”
Yugal Garg, page 7 of the filed PDF · View the filing
Revenue: INR2,364 crores (Q4 FY26)
p. 7
“Revenue grew by the 45% on year-on-year basis up to INR2,364 crores.”
Yugal Garg, page 7 of the filed PDF · View the filing
EBITDA: INR128 crores (Q4 FY26)
p. 7
“EBITDA stood at INR128 crores, which reflect a growth of 160% year-on-year basis, with a margin remain strong at 5.4% or INR11,400 per ton, which supported by the operating efficiency and newly added non-auto product.”
Yugal Garg, page 7 of the filed PDF · View the filing
Profit after tax: INR65.68 crores (Q4 FY26)
p. 7
“Profit after tax for the quarter comes in a at INR65.68 crores, with a PAT margin of 2.8% or per ton basis INR5,880.”
Yugal Garg, page 7 of the filed PDF · View the filing
Total volume: 80,381 metric tons (FY26)
p. 7
“total volume increased by remarkable 24% to 80,381 metric tons.”
Ankur Singh, page 7 of the filed PDF · View the filing
Aluminum segment sales: 65,636 metric ton per annum (FY26)
p. 7
“The aluminum segment reported growth in sales of 27% to 65,636 metric ton per annum by ramping up of newly added capacities, stabilization of some of the capacities, and also the ramping up of some brownfield expansions which had taken place in prior years.”
Ankur Singh, page 7 of the filed PDF · View the filing
Non-ferrous metal segment sales: 14,745 metric ton (FY26)
p. 7
“other non-ferrous metal segment also shown growth by 18% to 14,745 metric ton in FY26, as well as it increased quarter-to-quarter basis.”
Ankur Singh, page 7 of the filed PDF · View the filing
Installed capacity: 6.15 lakh metric ton per annum
p. 7
“Today, our installed capacity is about 6.15 lakh metric ton per annum.”
Ankur Singh, page 7 of the filed PDF · View the filing
Carbon credits in stock: 2.73 lakh tons
p. 5
“As I speak, we have 2.73 lakh tons of carbon credits in stock with us at CMR, for which we have not recognized any revenue because there is no marketplace.”
Mohan Agarwal, page 5 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Capacity — nearly 7 lakh tons · FY27
stated firmly by Mohan Agarwal
p. 8
“And by FY27, we will go to nearly 7 lakhs tons of capacity. And about 80% of this would be aluminum and 20% will be non-aluminum.”
Mohan Agarwal, page 8 of the filed PDF · View the filing
Capex — INR200 crores · FY27
stated firmly by Mohan Agarwal
p. 9
“FY27, the capex, actually we already about INR200 croresis the capex that we're doing in FY27.”
Mohan Agarwal, page 9 of the filed PDF · View the filing
Volume growth — similar to FY26 growth · FY27
stated as an aspiration by Mohan Agarwal
p. 9
“Look, in FY26, we have grown 25% in volume. I expect similar growth to be maintained in FY27.”
Mohan Agarwal, page 9 of the filed PDF · View the filing
EBITDA per ton
stated as an aspiration by Mohan Agarwal
p. 16
“At this moment of time, before we come out with a projection, I would say that EBITDA should continuously improve.”
Mohan Agarwal, page 16 of the filed PDF · View the filing
Aluminum to non-aluminum sales mix — 75:25 ratio
stated as an aspiration by Mohan Agarwal
p. 9
“I believe if both of them grow and we could see a 75:25 ratio, but not a whole lot different because both aluminum and non-aluminum, both are growing.”
Mohan Agarwal, page 9 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said capacity would rise to nearly 7 lakh tons by FY27, with 80% aluminum and 20% non-aluminum.
Answered by Mohan Agarwal
Asked by Maitri Shah: What capacity will the company have by end of FY27 in aluminum and non-aluminum segments?
p. 8
“FY27, we will have capacity addition of -- we are about 6,05,000 metric tons capacity at this moment of time. And by FY27, we will go to nearly 7 lakhs tons of capacity.”
Mohan Agarwal, page 8 of the filed PDF · View the filing
Management said EBITDA should be viewed per ton rather than as a margin, and that volume growth, technology improvements and diversification into new alloys and segments were aimed at improving EBITDA.
Answered by Mohan Agarwal
Asked by Maitri Shah: What steps are being taken to improve EBITDA margin from 5.2% toward targets like 7%?
p. 8
“One thing that in our business, you should look at EBITDA not as a percentage of the turnover, but as a rupees per ton basis.”
Mohan Agarwal, page 8 of the filed PDF · View the filing
Management said CMR sources scrap from all six continents and both domestically and via imports, and that complex scrap requiring human intervention would continue to flow to countries like India despite bans.
Answered by Mohan Agarwal
Asked by Rahul Jain: How is the company managing risks from countries banning or restricting aluminum scrap exports?
p. 12
“Now, to mitigate this potential risk, what we at CMR is doing is we kind of buy practically from all the six continents in the world.”
Mohan Agarwal, page 12 of the filed PDF · View the filing
Management disputed the premise, saying CMR has continuously gained market share and grown even during industry degrowth years, and has since diversified into non-auto segments.
Answered by Mohan Agarwal
Asked by Vinayak Kariwal: Why has the company's volume growth been flat since FY22 while some customers grew 2x-3x?
p. 14
“The industry had degrown during that period. We still grew.”
Mohan Agarwal, page 14 of the filed PDF · View the filing
Management explained the OCI reflects mark-to-market on hedge contracts tied to future predictable sales and would offset against physical price movements over time.
Answered by Mohan Agarwal
Asked by Arvind Arora: What is the nature of the OCI figure of INR166 crores shown in the P&L?
p. 15
“OCI happens in a cash flow hedge transaction, which is representing our future predictable sales.”
Mohan Agarwal, page 15 of the filed PDF · View the filing
Management said prices have moved up sharply since the Iran-US war, creating volatility, but the company aims to maintain profitability regardless through pass-through and hedging.
Answered by Mohan Agarwal
Asked by Nishita Sanklesha: How have aluminum price realizations trended in Q1 FY27 so far?
p. 16
“The prices have been moving up, especially since after the Iran-US war. So, we have seen a big spike in prices post the war.”
Mohan Agarwal, page 16 of the filed PDF · View the filing
Risks flagged
Elevated logistics costs from geopolitical conflicts
p. 6
“Despite macroeconomic uncertainties and elevated logistics cost arising from the geopolitical conflicts, CMR demonstrated very resilient performance driven by disciplined risk management, agile execution, and strong operational capability.”
Ankur Singh, page 6 of the filed PDF · View the filing
Potential export bans or duties on aluminum scrap from key sourcing countries
p. 12
“EU is threatening regulations in which they want to ban the export of scrap to non-OECD countries from about May of 2027.”
Mohan Agarwal, page 12 of the filed PDF · View the filing
Volatility in aluminum prices due to geopolitical events
p. 16
“So, there is a lot of volatility which has come into the space.”
Mohan Agarwal, page 16 of the filed PDF · View the filing
Commodity price exposure between purchase and sale dates requiring hedging
p. 15
“We buy on day one, we sell on day 100. So, my customer is giving me a price protection between day 60 and day 90. With that price movement, the customer takes on themselves. But our exposure from day one to day 60 has to be hedged.”
Mohan Agarwal, page 15 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.