Business

CMR Green shares make strong D-Street debut, list at 43% premium over IPO price

Published

21 hours ago

10 June 2026

CMR Green shares make strong D-Street debut, list at 43% premium over IPO price

In a solid stock market debut, shares of CMR Green Technologies listed at 43% premium over IPO price on Wednesday. The stock opened at Rs 275.40 on the BSE as compared to its issue price of Rs 192.

Meanwhile, the stock opened at Rs 268 on NSE, surging 40% from IPO price.

Robust IPO subscription

The IPO was subscribed 127.07 times overall, making it one of the most sought-after public issues of the year. Institutional investors drove the demand, with the qualified institutional buyer (QIB) portion subscribed 270.46 times. The non-institutional investor (NII) segment was booked 172.35 times, while the retail investor category attracted bids worth 27.08 times the shares reserved for it.

More than 33.7 lakh applications were received across categories, highlighting strong participation from both institutional and retail investors.

Ahead of the IPO opening, the company had raised Rs 188.44 crore from anchor investors through the allocation of 98.14 lakh shares.

About the company

CMR Green Technologies, incorporated in 2006, is one of India’s leading non-ferrous metal recyclers and operates in the secondary aluminium market. The company manufactures recycled aluminium alloys, zinc alloy ingots, aluminium billets and other recycled metal products that are used across automotive and industrial applications.

Its customer base includes several leading automobile manufacturers and component makers such as Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki and Jindal Stainless.
The company is positioned to benefit from increasing demand for recycled metals as manufacturers globally focus on reducing carbon emissions and improving sustainability across supply chains. Aluminium recycling consumes significantly less energy than primary aluminium production, making recyclers increasingly important in the transition towards greener manufacturing.
Financially, the company has shown steady growth. For the nine months ended December 2025, CMR Green Technologies reported revenue of Rs 6,291 crore and profit after tax of Rs 162.39 crore. For FY25, it reported revenue of Rs 6,696.66 crore and net profit of Rs 155.04 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Business

Honasa shares jump 6% on Rs 5,500 crore revenue target by FY31. What is Goldman Sachs saying?

Published

3 minutes ago

11 June 2026

NewsAdmin

Honasa shares jump 6% on Rs 5,500 crore revenue target by FY31. What is Goldman Sachs saying?

Shares of Honasa Consumer, the parent company of Mamaearth, rallied 6% to their day’s high of Rs 438 on the BSE as investors cheered the company’s revenue target of Rs 5,500 by the financial year 2031.

The company’s revenue outlook implies a CAGR of about 18% between FY26 and FY31. Mamaearth is expected to remain the key growth driver, with revenue crossing Rs 2,000 crore by FY31, while The Derma Co is projected to contribute nearly Rs 1,500 crore during the same period.

Further, the company plans at least two more Rs 500 crore revenue-generating brands across the portfolio, it said in an investor presentation. It owns brands such as Aqualoga, BBlunt, Dr Sheth’s, and Reginald Men.

Honasa plans to expand EBITDA margins to 15% by unlocking a 500-basis-point improvement through a stronger presence in higher-margin channels and categories, alongside benefits from scale and operating efficiencies.

The company’s direct outlet network is targeted to grow from around 1.2 lakh outlets currently to 3 lakh outlets by FY31. A greater mix of general trade, modern trade, and quick commerce is also expected to support margin expansion.

Honasa aims to become the national market leader in at least two skincare categories, while securing a top-three market share position in at least two additional categories.
Following the development, Goldman Sachs raised the target price of Rs 400, which the company has already surpassed. The international brokerage has maintained a Neutral rating on the counter.
Reflecting faster profitability improvement, the brokerage has raised its FY27-FY29 earnings estimates by 1-4%. However, Goldman Sachs believes the stock’s risk-reward remains balanced at current valuations.

Honasa Q4 snapshot

The company reported a whopping 177% year-on-year (YoY) jump in consolidated net profit to Rs 69 crore for the fourth quarter of the financial year 2026, from Rs 25 crore in the year-ago period.
Honasa’s revenue from operations, meanwhile, jumped over 23% YoY to Rs 657 crore during Q4 of FY26, compared to the Rs 533 crore revenue reported in the corresponding quarter of FY25.

Honasa shares have risen 64% in the last six months and about 50% in 2026.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)