Mukul Agrawal portfolio: Ace investor picks over 10% stake in this SME stock in Q3

Mukul Mahavir Agrawal, a well-tracked stock market maven on Dalal Street, picked up over 10 per cent stake in a small and medium enterprise (SME) stock Siyaram Recycling Industries during the third quarter of the ongoing financial year 2024-25 (Q3 FY25).

Mukul Agrawal made a fresh entry into the stock as the investor's name did not appear in the key shareholders in the second quarter of FY25. He picked up 22,00,000 shares of Siyaram Recycling Industries, representing a 10.10 per cent stake in the company.

Companies are required to share the names of only those shareholders who own 1 per cent or more of the company at the end of the given quarter.

The ace investor also increased his stake in multibagger stock Hind Rectifiers in the third quarter of FY25.

According to the shareholding data, Agarwal increased his stake by 0.1 per cent in the December quarter, raising it to 1.5 per cent from 1.4 per cent in the September quarter.

Siyaram Recyling Industries Share Price Trend

Siyaram Recyling Industries, part of the BSE SME IPO index, hit the 5 per cent upper circuit limit of ₹145.80 today. Siyaram Recycling share price has gained 29 per cent in the last one month while the stock is up by 46 per cent in the past six months.

From its 52-week low of ₹60.63, hit in March 2024, Siyaram Recycling has gained a whopping 140 per cent. However, in order to reach its 52-week high of ₹183.85, the stock needs to rally another 26%.

The company's SME IPO had opened for subscription in December 2023 in the price band of ₹43-46 per share. The IPO was entirely a fresh share sale of 49.92 lakh shares worth ₹22.96 crore.

The IPO had garnered a massive subscription of 385.19 times, with the stock listing at a premium of 19.5 per cent at ₹55 apiece.

Half-year update

In its half-yearly update for FY25, Siyaram Recyling Industries posted a 14 per cent increase in revenue to ₹245.66 crore from ₹215.06 crore YoY.

Its operating performance also remained strong, with earnings before interest, tax, depreciation and amortization growing by 43 per cent year-on-year to ₹14.17 crore. Meanwhile, its net profit surged by 81 per cent to ₹7.68 crore and was the highest-ever half-yearly profit posted by the company.

Siyaram Recycling Industries is a key player in brass recycling and component manufacturing. has a strong geographical presence across 18 states and Union Territories in India, with Gujarat as its primary revenue contributor. The company also has a presence in international market and exports to countries like China, Belgium, Germany and Oman.