CMR Green Technologies IPO Allotment Status, Listing Date and Expected Listing Price

CMR Green Technologies presents itself as one of India’s leading non-ferrous metal recyclers, with a large installed capacity and a strong position in recycled aluminium. Based on an ICRA report, the company says its installed capacity as of March 31, 2025 was about four times that of its nearest domestic competitor in the recycled aluminium space, and it held an estimated 42% to 45% market share in the cast alloy automotive segment during FY25.

The company operates a network of 13 recycling facilities across states including Haryana, Gujarat, Maharashtra, Tamil Nadu, Rajasthan, Uttarakhand, Odisha and Andhra Pradesh. As of March 31, 2026, these facilities had a combined installed production capacity of 615,150 MTPA. CMR Green Technologies also says it is a major supplier of liquid aluminium alloy in India and has been supplying liquid aluminium since 2008. Its plants are located close to customer premises and use patented technology and automated systems linked to customer production processes for just-in-time delivery and furnace monitoring.

The company reports a broad raw material sourcing base, with around 198 global suppliers across 73 countries in FY25. Scrap was sourced from the United States, Europe, Africa, Australia, the UAE and Asia, helping reduce reliance on any single region. It also has joint ventures with Japanese companies such as Toyota Tsusho Corporation, Nikkei MC Aluminium and Nippon Light Metal, which it says provide technical expertise, billet casting technology and long-term customer relationships.

CMR Green Technologies says it uses a range of recycling technologies, including heavy media flotation systems, induction-based sorting, colour sorters, XRTs, LIBS, shredders, regenerative burners and metal circulation furnaces. It also has an in-house R&D unit recognised by the Department of Scientific and Industrial Research, along with development and laboratory capabilities.

The company is certified under ISO 14001:2015, ISO 45001:2018 and IATF 16949:2016. It also says it uses solar power at some facilities and held 273,724 carbon credits as of April 11, 2026.

Financially, revenue from operations increased from Rs 5,868.51 crore in FY23 to Rs 5,952.44 crore in FY24 and Rs 6,666.48 crore in FY25. However, the business remains exposed to concentration risk, with its top three customers contributing a significant share of revenue across recent periods. It also depends heavily on liquid aluminium alloys and aluminium alloy ingots, which made up the bulk of operating revenue.

The company reported a loss of Rs 838.23 crore in FY24 versus a profit of Rs 104.80 crore in FY23, mainly because of a goodwill impairment write-off linked to a merger completed in FY20. It also recorded negative operating cash flows in FY25 and the nine months ended December 31, 2025, driven by higher working capital needs, longer receivable cycles and inventory build-up.

Other risks include ongoing proceedings by the Enforcement Directorate over an alleged FEMA contravention, related-party transactions, legal and regulatory cases involving the company and its management, sector volatility, and outstanding financial indebtedness of Rs 1,303.22 crore as of December 31, 2025.