Siyaram Recycling Industries Limited has secured a domestic order worth ₹1,91,75,000, including GST, from Anurag Impex for Brass Scrap Honey. The company disclosed the development to BSE Limited on October 28, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The order is valued at approximately ₹1.92 crore, including GST. According to the company's regulatory filing, the order relates to Brass Scrap Honey and is classified as a fixed-cost order. The company has stated that the order is to be executed within 15 days.

This announcement highlights a new business order received by Siyaram Recycling Industries Limited. Investors may track such announcements to understand the company's order activity and business developments. However, the value of an individual order should not be treated as equivalent to the company's profit or as confirmation of an immediate improvement in its financial performance.

The company has provided the order details in an annexure accompanying its stock exchange disclosure. It has identified Anurag Impex as the entity awarding the order and classified the customer as a domestic entity.

The filing also states that the promoter group and group companies have no interest in the entity awarding the order. In addition, the company has confirmed that the transaction does not fall under related-party transactions.

These details provide information about the nature, value, execution period, and relationship status of the newly secured order.

Key Details of the New Order

The regulatory filing dated October 28, 2026, provides the following important information about the order secured by Siyaram Recycling Industries Limited.

• Company: Siyaram Recycling Industries Limited

• Customer: Anurag Impex

• Order description: Brass Scrap Honey

• Total order value: ₹1,91,75,000, including GST

• Approximate order value: ₹1.92 crore

• Customer category: Domestic entity

• Nature of order: Fixed cost

• Execution timeline: Within 15 days

• Promoter group interest: No

• Related-party transaction: No

• Stock exchange: BSE Limited

• BSE scrip code: 544047

• Disclosure date: October 28, 2026

• Regulatory framework: Regulation 30 of SEBI Listing Regulations, 2015

The company made the disclosure to comply with the applicable stock exchange reporting requirements. The filing was signed by Bhavesh Ramgopal Maheshwari, Managing Director of Siyaram Recycling Industries Limited, who is identified with DIN 06573087.

The company requested BSE to take the information on record.

Understanding the ₹1.92 Crore Order Value

The order value disclosed by Siyaram Recycling Industries Limited is ₹1,91,75,000, including GST. In simpler terms, the total stated value of the order is ₹1 crore, 91 lakh and 75 thousand.

For headline and general reporting purposes, the amount can be rounded to approximately ₹1.92 crore. However, the exact value mentioned in the filing remains ₹1,91,75,000.

An important point for investors is that the company has explicitly stated that the order value includes GST. Therefore, the announced amount should not automatically be treated as revenue excluding taxes, profit, or cash received by the company.

The actual financial contribution from the order would depend on the applicable accounting treatment, costs associated with fulfilling the order, and other relevant factors. The filing does not disclose the expected profit margin, cost of goods, or net earnings from this specific order.

The order announcement also does not specify whether the full payment has already been received or provide the payment schedule.

As a result, the ₹1.92 crore figure should be understood as the total disclosed order value, including GST, rather than an estimate of the company's profit.

For a complete assessment of the financial impact, investors would need to consider the company's financial statements and any further disclosures relating to order execution and revenue recognition.

What Is Brass Scrap Honey?

The order disclosed by Siyaram Recycling Industries Limited is for a material described in the filing as Brass Scrap Honey.

Brass is a metal alloy primarily made from copper and zinc. Brass scrap refers to discarded or recovered brass material that may be collected, sorted, processed, or recycled for further industrial use.

The company's disclosure identifies Brass Scrap Honey as the product associated with the order from Anurag Impex. However, the filing does not provide a technical specification, quantity, grade, or detailed description of the material.

It would therefore be inappropriate to assume the exact composition, weight, quality specifications, or processing requirements of the particular material covered by this order.

The announcement confirms the product description used by the company, the customer name, and the value of the order. These are the key details investors can rely on from the regulatory disclosure.

The order may be relevant to understanding the company's business activity in the recycling and metal-materials segment. However, the filing does not explain whether the order represents a new customer relationship, a repeat order, or an expansion of an existing commercial arrangement.

No conclusion about the size of the customer's overall business relationship with Siyaram Recycling Industries Limited can be drawn from this announcement alone.

Order Execution Timeline: Within 15 Days

One of the important details in the announcement is the execution timeline.

Siyaram Recycling Industries Limited has stated that the order is to be executed within 15 days. This indicates the expected period for completing the order according to the company's disclosure.

The execution period may be relevant to investors monitoring the company's near-term business activity. However, the filing does not specify the exact date from which the 15-day period is to be counted.

It also does not state whether execution has already started, whether any portion of the order has been delivered, or whether the entire order will be completed in a single delivery.

Investors should therefore avoid assuming a specific completion date beyond the company's stated timeline.

The company has not disclosed whether the order includes multiple deliveries or any special performance conditions. The filing also does not provide details of penalties, extensions, or other contractual provisions that could affect execution.

The most reliable conclusion is that the company has disclosed an order with an expected execution period of 15 days.

Any confirmation of completed delivery or recognition of the associated revenue would need to be based on subsequent company disclosures or relevant financial reporting.

What Does a Fixed-Cost Order Mean?

Siyaram Recycling Industries Limited has classified the order as a fixed-cost order in the annexure accompanying its BSE filing.

In general business usage, a fixed-cost or fixed-price order refers to an arrangement in which the price or cost basis is specified under the agreed terms. The precise meaning, however, depends on the contract and the way the company uses the term in its disclosure.

The filing does not provide the detailed commercial agreement between Siyaram Recycling Industries Limited and Anurag Impex. It does not explain the pricing formula, cost responsibilities, delivery terms, or any adjustment clauses.

For this reason, the term should be reported as stated in the company's filing rather than interpreted as proof that the company's production costs or profit margin are fixed.

A fixed-cost classification does not, by itself, reveal how profitable the order will be. The profitability of a particular order depends on the amount of revenue recognised and the costs incurred in fulfilling the contractual obligations.

The company has not disclosed the estimated profit, gross margin, operating margin, or other financial measures associated with this order.

Investors should therefore treat the fixed-cost classification as a contractual detail and avoid making assumptions about profitability without further supporting information.

Domestic Order from Anurag Impex

The company has identified Anurag Impex as the entity awarding the order and classified the order as domestic.

This means the transaction has been disclosed as a domestic order rather than an order awarded by an international entity.

The filing provides the customer name but does not disclose the location of the customer, its business profile, or the full details of the commercial relationship between the two parties.

It also does not indicate whether Anurag Impex is a first-time customer or an existing business partner of Siyaram Recycling Industries Limited.

These distinctions may matter when assessing customer concentration, repeat business, and the stability of the company's order flow. However, the current announcement does not provide sufficient information to draw conclusions on these matters.

The order is a confirmed business development reported by the company, but it should not be interpreted as evidence of a broader change in customer relationships without additional information.

Investors may monitor future announcements to see whether the company reports further orders from Anurag Impex or other customers.

No Promoter Group Interest in the Customer

An important disclosure in the annexure is the company's statement regarding the relationship between the customer and the promoter group.

Siyaram Recycling Industries Limited has stated that its promoters, promoter group, and group companies have no interest in Anurag Impex.

This information is relevant because stock exchange disclosures often require listed companies to provide details about the relationships associated with significant transactions, where applicable.

The company's statement indicates that it has not reported an interest of the promoter group or group companies in the entity awarding this order.

The disclosure does not provide a separate detailed analysis of the ownership structure of Anurag Impex. Therefore, the statement should be understood according to the information provided in the company's filing.

For investors, this is one of the key governance-related details accompanying the order announcement.

It helps distinguish the disclosed commercial order from a transaction in which the company has identified an interest involving its promoter group.

The Order Is Not a Related-Party Transaction

Siyaram Recycling Industries Limited has also confirmed that the order does not fall under related-party transactions.

Related-party transactions are arrangements involving parties that have a specified relationship with a company under the applicable accounting and regulatory framework. Listed companies may have disclosure and approval requirements for such transactions, depending on the circumstances and relevant rules.

In this case, the company has expressly stated that the order from Anurag Impex is not a related-party transaction.

This statement is consistent with the company's separate disclosure that the promoter group and group companies have no interest in the entity awarding the order.

Investors should nevertheless distinguish between the company's statement about this particular transaction and a wider assessment of its corporate governance practices. A single order announcement does not provide a complete picture of the company's governance framework or all of its business relationships.

The key confirmed detail is that the company has classified the transaction as non-related-party business in the annexure to its stock exchange filing.

Why Investors May Monitor This Order

New order announcements can provide investors with information about a company's commercial activity. In the case of Siyaram Recycling Industries Limited, the order from Anurag Impex has a disclosed value of ₹1.92 crore, including GST, and an expected execution period of 15 days.

Investors may consider the order alongside other business and financial information when assessing the company.

The order value provides a measure of the size of this particular contract, but it does not show how large the order is compared with the company's total revenue or overall order book. The filing does not provide those comparisons.

Similarly, the short stated execution period gives information about the expected timeline but does not establish that delivery has been completed or that the entire amount will be recognised as revenue in a particular reporting period.

The absence of disclosed profit margins also means that the order's contribution to earnings cannot be calculated from the announcement.

A more complete analysis would require the company's reported revenue, operating costs, margins, outstanding orders, and other relevant financial information.

Investors should also avoid assuming that a new order will necessarily result in a positive share-price movement. Stock prices can be influenced by a range of factors, including market conditions, company valuation, financial results, liquidity, and investor expectations.

The announcement should therefore be viewed as a specific order-related corporate update, rather than a standalone indicator of the company's future performance.

What the Filing Does Not Disclose

The October 28, 2026, announcement provides the order value, customer name, product description, domestic classification, fixed-cost nature, execution timeline, and related-party status.

However, several other details are not included in the disclosure.

The company does not state the quantity of Brass Scrap Honey covered by the order. It also does not provide the price per unit, detailed technical specifications, or the complete commercial terms agreed with Anurag Impex.

The filing does not disclose the expected profit margin or the estimated net contribution from the order. It also does not state the payment schedule, the amount of any advance payment, or whether payment has already been received.

In addition, the announcement does not provide the company's total order book or explain what proportion of its business this contract represents.

These details should not be estimated or assumed from the order value alone.

The absence of this information does not change the main facts disclosed by the company. It simply limits how far investors can go in estimating the financial impact of this particular contract.

Any additional assessment should be based on further company announcements or financial disclosures where the relevant details are provided.

About Siyaram Recycling Industries Limited

Siyaram Recycling Industries Limited is the company that disclosed the order from Anurag Impex to BSE Limited on October 28, 2026.

The company submitted the information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and included an annexure detailing the key characteristics of the order.

The company is listed on BSE under scrip code 544047.

The filing was signed by Bhavesh Ramgopal Maheshwari, Managing Director, who is identified with DIN 06573087. The place mentioned in the disclosure is Jamnagar.

The announcement relates specifically to the order for Brass Scrap Honey valued at ₹1,91,75,000, including GST. It does not provide a comprehensive update on the company's financial results, production capacity, annual revenue, or future business outlook.

Those aspects should be assessed using the company's other regulatory filings and financial statements.

Frequently Asked Questions (FAQs)

1. What order has Siyaram Recycling Industries Limited received?

Siyaram Recycling Industries Limited has secured an order from Anurag Impex for Brass Scrap Honey.

2. What is the value of the order?

The total disclosed order value is ₹1,91,75,000, including GST. This is approximately ₹1.92 crore.

3. Who awarded the order?

The order was awarded by Anurag Impex, which the company has classified as a domestic entity.

4. What product is covered by the order?

The order is for Brass Scrap Honey, as stated in the company's regulatory filing.

5. What is the execution timeline?

The company has stated that the order is to be executed within 15 days. The filing does not specify the exact date from which the period is to be counted.

6. Is the order domestic or international?

The company has classified the order as domestic.

7. Is the order a related-party transaction?

No. Siyaram Recycling Industries Limited has stated that the order does not fall under related-party transactions.

8. Does the promoter group have an interest in Anurag Impex?

According to the company's disclosure, the promoter group and group companies have no interest in the entity awarding the order.

9. Does the ₹1.92 crore order value represent profit?

No. The disclosed amount is the total order value, including GST. The company has not provided the expected profit or margin for this order.

10. What is the BSE scrip code of Siyaram Recycling Industries Limited?

The company's BSE scrip code mentioned in the filing is 544047.

Conclusion

Siyaram Recycling Industries Limited has secured a domestic order worth ₹1,91,75,000, including GST, from Anurag Impex for Brass Scrap Honey. The company disclosed the development to BSE Limited on October 28, 2026, under Regulation 30 of the SEBI Listing Regulations, 2015.

The order has been classified as a fixed-cost order, with execution expected within 15 days. The company has also confirmed that the promoter group and group companies have no interest in the customer and that the transaction does not fall under related-party transactions.

The announcement provides a clear update about a new business order, but it does not disclose the expected profit margin, payment schedule, material quantity, or the order's contribution to the company's overall revenue.