Ashish Kacholia-backed stock surges 9% to new 52-week high as Q2 PAT rises 88%. Do you own?

The company’s consolidated net profit for the September quarter stood at Rs 98.6 crore, marking an impressive 88% jump from Rs 52.6 crore reported in the same quarter of the previous fiscal year. Jain’s revenue from operations also increased by 52% to Rs 2,113.7 crore.

The company’s EBITDA (earnings before interest, tax, depreciation and amortization) stood at Rs 160 crore, up 82% from Rs 88 crore. Margins also rose 127 basis points to 7.6% for the quarter under review.


As for segmental revenue for the first half of FY26, the Aluminium and Alloys business witnessed a massive rise of 115% to Rs 154.5 crore, while the Lead and Ingots business garnered a revenue of Rs 1,740 crore, up 47% from the same period last year. Copper Ingots clocked a revenue growth of 14% to Rs 1,697.8.

Jain Resource Recycling is a recent debutant in the primary market as shares got listed on October 1. Jain Resource Recycling is listed at a 14% premium over the IPO price. The stock is up 51% from its issue price of Rs 232 per share.

Ace investor Ashish Kacholia holds a 1.1% stake in the company. Interestingly, Ashish Kacholia’s bet on newly listed Jain Resource Recycling has turned into a multi-bagger in just under seven months, delivering a hefty 156% return since his investment in March this year. Kacholia had invested Rs 50 crore in the company through his investment arm Bengal Finance & Investments Private Limited on March 13, 2025.

At the time, the average acquisition cost worked out to Rs 638.28 per share for a total of 7,83,375 shares. Given the company’s 1:5 stock split, the number of shares held by Bengal Finance rose fivefold to 39,16,875, while the average cost per share adjusted downward to Rs 126.75. The stock went on to rally nearly 50% from its issue price, valuing Kacholia’s holding at about Rs 126.9 crore.

Jain Resource Recycling is engaged in recycling and manufacturing non-ferrous metals such as lead, copper and aluminium. The company operates three recycling facilities near Chennai and also has a gold refining unit in the UAE through a subsidiary.

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