Data & Sources
Methodology, caveats, the full charted data table, and every primary source behind this dashboard.
Methodology & caveats
- Built Jul 16, 2026; refreshed Aug 7; updated again Aug 18, 2026 with HCL's updated corporate presentation (dated 18.08.2026) and its Vision-2030 roadmap, the Aug-12 FY27 OFS announcement, Vidya Wires' Q1 FY27 print, Aug 14–18 quotes for all names, the re-intensified LME squeeze (backwardation −$411) and USD/INR 95.73. Key figures cross-checked across ≥2 sources; the HCL model now reproduces both FY26 and the fresh Q1 FY27 print within ~1%.
- Aug 18 caveats: Vidya Wires' Q1 FY27 is now published (rev ₹549.7 cr, PAT ₹17.1 cr); its FY-level columns remain FY26. Jain's Q1 shows two prints across aggregators (₹2,641 cr/₹73 cr vs ₹2,724.5 cr/₹69.4 cr) — the latter is used, pending the filing. HCL disclosed no Q1 production tonnes; MIC ~6,850t is inferred for the model calibration. LME on-warrant ~94kt is the last verified split (total stock 205kt is current). The FY27 OFS is an announced intention — size and timing are not yet notified. HCL Vision-2030 tonnages are the company's own targets, not forecasts. Section 232 cathode decision still unresolved (cathode 0%). Sunlite's Q1 copper volume (5,743 MT) is from the business update, not the NSE PDF; the ₹37 cr expansion "to ~45,000 MTPA" reconciles the additive and total-capacity framings. The LME deck and squeeze framework come from this project's lme-copper-price-outlook and hindustan-copper notes.
- Known unverified items: Sunlite pledge status (secondary source only) and exact capacity (AR says 23,212 MTPA; concall says ~25–30k); Vidya pledge status and cash balance (EV/EBITDA estimated); Bhagyanagar land-bank value (~₹1,000 cr is a management claim) and the reason for promoter stake decline; Pondy post-June promoter % (~36.4% derived, Jun-26 SHP unpublished); Jain lock-in dates (computed from ICDR rules) and the SEBI order's primary text.
- EV/EBITDA figures marked ~ are computed, not provider-published. ROCE follows screener.in methodology; managements sometimes state lower (Pondy: 17%).
- FY26 = financial year ended March 31, 2026. "1-yr return" for Vidya (listed Dec 2025) and Jain (listed Oct 2025) is return over issue price.
- Rankings and "takes" are my analytical judgment from this evidence — reasonable people can weight governance vs growth differently.
Full data table (as charted)
| Company | Price | MCap ₹cr | P/E | P/B | EV/EBITDA | Rev FY26 ₹cr | Rev g FY26 | 3y CAGR | EBITDA m. | PAT ₹cr | Q1FY27 rev | Q1 YoY | Q1 PAT | ROCE | ROE | D/E | CFO/PAT 4y | Promoter | Pledge | Off 52w high |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sunlite RecyclingSUNLITE · SME | ₹490 | 677 | 15.6 | 4.2 | ~10 | 2,765 | 97.9% | 34% | 2.2% | 40 | 783.8 | +74.6% | n/a (SME) | 47% | 36% | 0.1 | 28% | 74.5% | ~Nil* | -16% |
| Vidya WiresVIDYAWIRES | ₹89 | 1,950 | 32 | 4 | ~23 | 1,840 | 24.4% | 22.4% | 4.7% | 58 | 549.7 | +33.5% | 17.1 | 20.7% | 17.8% | 0.2 | 10% | 72.8% | None rep.* | -24% |
| Bhagyanagar IndiaBHAGYANGR | ₹398 | 1,333 | 20.3 | 4.6 | ~14 | 2,378 | 46.3% | 8.8% | 4.5% | 50 | 705.1 | +45.2% | 20.3 | 21% | 22% | 1 | -24% | 64.8% | 6.1% prom. | -8% |
| Pondy OxidesPOCL (post-split) | ₹500 | 3,760 | 28.5 | 4.4 | ~17 | 2,939 | 44.9% | 25.9% | 7.3% | 139 | 930.9 | +56% | 36.3 | 23.9% | 19.5% | 0.2 | -1% | 36.4% | Nil | -23% |
| Jain ResourceJAINREC | ₹296 | 10,234 | 28.4 | 6.3 | ~20 | 9,543 | 33.9% | 46% | 5.8% | 347 | 2,724.5 | +76% | 69.4 | 25% | 30% | 0.8 | -67% | 73.6% | Nil | -50% |
| Gravita IndiaGRAVITA | ₹1,811 | 13,183 | 33.7 | 4.9 | ~30 | 4,265 | 10.2% | 15.1% | 10% | 378 | 1,475 | +42% | 106.4 | 17% | 16.8% | 0.3 | 61% | 55.9% | Nil | -36% |
Sunlite Recycling
Vidya Wires
Bhagyanagar India
Pondy Oxides
Jain Resource Recycling
Gravita & extended peers
Hindustan Copper & Q1 FY27 refresh (Aug 2026)
- Screener.in — HINDCOPPER · Google Finance quote
- PIB — HCL FY26 results & production (official) · HCL Q1 FY27 NSE filing (Aug 10) · Upstox Q1 recap
- Anand Rathi initiating coverage (Nov 2025) · ICRA AA+ rationale
- Vision 2030 capex ₹7,189 cr · HCL updated corporate presentation (Aug 18, 2026) · FY27 OFS plan incl. ~5% of HCL (Aug 12, 2026) · Chile/Codelco process
- POCL Q1 FY27 slides · JAINREC Q1 · Gravita Q1 + RMIL · Bhagyanagar Q1
- Sunlite investor presentation (Jul 8, 2026)
- Westmetall LME settlements (Aug 3–6) · LME weekly review · USD/INR forwards · TradingEconomics INR
Macro & policy
- Goldman Sachs 2026 copper outlook
- Westmetall LME cash prices
- SMM — H1 2026 scrap payability review
- IEA — smelter TC/RC pressure & scrap pivot
- ICRA India copper demand (Feb 2026)
- Recycled-content mandate rules (Aug 2024)
- DownToEarth — EPR framework critique
- Zero scrap duty, Budget 2025-26
- EU copper-scrap export duties (Dec 2025)
- Adani Kutch LME brand (Jul 7, 2026)
This dashboard is research and analysis, not investment advice. I'm not a financial advisor; multiples, prices and plans change — verify against primary filings before acting. Several names are SME-listed with lot-size and liquidity constraints. Past multibagger returns in this group (Sunlite +176%, Bhagyanagar ~+350% in a year) tell you about the cycle, not the future.