Annual reportSep 2026
Sep 2026 · Shareholders meeting 19 Aug - 13th AGM on 17 September 2026; annual report for FY 2025-26 released.
Source: Nse
Namo eWaste Management Ltd. (NAMOEWASTE)
SME CapIT stocks · SME cap · NSE
Namo eWaste Management Limited specializes in sustainable Battery & E-waste management, a key player in the circular economy. It recycles e-waste to recover metals and provides EPR consulting, ITAD, and data destruction services. The company operates 4 recycling plants and has 26+ collection centers across India.
₹318.05
-21.15 · -6.24%
Market cap ₹776 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result22 May, 12:50 am IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
77BullishSMA20 +24.0% / mo · MACD − · sector +19.3pp vs Nifty 500 (3M)
Stock trend: 61
Sector RS: 100
Sector 3M: +13.7% vs Nifty 500 -5.6%
IT FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
NAMOEWASTED candles · FIT view+71.9%Latest close ₹318.05 on 2026-10-21
Bar
-6.5%
RSI
47
MACD hist
-4.16
52W pos
72%
2026-10-21O ₹340.00H ₹340.00L ₹305.00C ₹318.05Vol 69,600 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
NAMOEWASTENifty ITNifty 500
- NAMOEWASTE
- +12.2%
- Nifty 500
- -6.5%
- Nifty IT
- +12.0%
- Vs Nifty 500
- +18.7 pp
Chart stats
21 Oct 2026- From 52W high
- -18.3%
- 52W range position
- 72%
- ATR (14)
- 6.6%
- Volume vs 20D
- 1.02x
- Avg traded value
- ₹2.4 Cr
- 20D price channel
- ₹262.2 - ₹389.5
₹389.5
₹134 - ₹389.5
₹21
Latest completed session
20-session average
111.9% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST41
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +64.6% · PAT +75.0% YoY
Technical
Bullish77
Price trend and sector-relative-strength timing.
Valuation
Legacy model-57.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Excellent · 100/100Rev +65% YoY · PAT +75% YoY · margin expansion · +23% QoQ · operating leverage
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹107 Cr | +64.6% | +23.0% |
| EBITDA | ₹12 Cr | NDF | +9.1% |
| Operating margin | 11.0% | NDF | -100 bps |
| PAT | ₹7 Cr | +75.0% | +0.0% |
| PAT margin | 6.5% | NDF | -151 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 54.10
- P/B
- 7.52
- EV/EBITDA
- 31.16
- Market Cap
- 776.00Cr
Profitability
- ROE
- 14.90%
- ROCE
- 21.30%
- ROA
- 11.76%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 38.95%
- EPS 5Y
- 41.42%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 15.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 23.00×
- Altman Z
- 9.53
- Book Value
- 45.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 5.00 Cr
- EPS TTM
- 6.28
Shareholding
- Promoter Hold
- 69.05%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 80%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 195+30.0% vs prev
Net Profit
₹ CrLatest: 14.0+75.0% vs prev
Return on Equity
%Latest: 13.6+51.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 47. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~19.4% over last month) — short-term momentum positive.
- RSI(14) at 47 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 18% off 52W high · 137% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
93
RS percentile
Stage 2 UptrendEstablished S2
1M return
+20.6%
3M return
+12.2%
6M return
+72.2%
1Y return
+66.1%
RS 1D
0
RS 20D
+9
Sector rank
#7
Industry rank
#37
Stage evidence
- Price is 25.1% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +10.1%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
21 May 2026
S2 age
107 trading sessions
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 167.13-5.36%
RS vs Nifty 500167
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth15/25
Quality9/20
Balance Sheet11/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
41
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
41/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 11/15 to the score.
- Growth contributes 15/25 to the score.
Main drags
- Fair-value margin of safety is negative at -57.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
54.1
PB
7.5
EV/EBITDA
31.2
ROE
14.9%
ROCE
21.3%
FCF Yield
—
Debt/Equity
0.0
MoS
-57.8%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
41
Previous: 41
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-57.8%
Previous: -57.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
39
40
40
40
40
40
40
40
40
41
41
41
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹79.83
-298.4% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹201.59
-57.8% MoS
PEG
1.75
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ZTECH
SME
Z-Tech (India) Ltd.
IT Services / Digital
match 131
44
34.7
20.9%
+7%
WATCHLIST
VINSYS
SME
Vinsys IT Services India Ltd.
IT Services / Digital
match 131
46
28.5
20.3%
+8%
FAIR VALUE
TAC
SME
TAC Infosec Ltd.
IT Services / Digital
match 130
57
28.5
34.3%
-1%
FAIR VALUE
EFFWA
SME
Effwa Infra & Research Ltd.
IT Services / Digital
match 130
62
28.7
26.2%
+15%
UNDERVALUED
OPTIVALUE
SME
Optivalue Tek Consulting Ltd.
IT Services / Digital
match 128
49
37.2
22.2%
-13%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-20T07:49:24.567Z
Management commentary snapshot
Namo eWaste reports robust FY26 performance with revenue up 29% to ₹195 Cr, EBITDA surging 56% to ₹23.1 Cr, and PAT increasing 70% to ₹14.35 Cr, driven by higher processing volumes and operational efficiencies.
The company delivered strong financial and operational growth in FY26, marked by significant revenue and profit increases, expanded recycling capacity, and strategic investments in advanced technologies like hydrometallurgy. Industry tailwinds and regulatory support for e-waste and battery recycling provide a favorable long-term outlook.
Growth engines
E-waste Recycling & Refurbishment
Environmentally responsible dismantling and recovery of valuable materials from electronic products, extending product lifecycle.
Battery Waste Recycling
End-to-end Lithium-ion battery recycling and refurbishment process for maximum material recovery, safety, and sustainability.
EPR Consulting & Compliance
End-to-end compliance support for producers under E-Waste Management Rules 2022, including audits, return filing, and disposal strategies.
Critical Mineral Recovery
Setting up Hydrometallurgy Plant for processing black mass and recovery of critical minerals like Li, Co, Ni.
Capacity and execution
Hydrometallurgy Plant
Progressing towards the next phase of growth through the establishment of a Hydrometallurgy Plant for processing black mass and recovery of critical minerals.
Hyderabad E-waste Unit
25,000 MT e-waste unit in Hyderabad set to go live in Q2 FY 26-27, positioning the company in South India's electronic ecosystem.
Tailwinds
Increasing Environmental Awareness
Management remains optimistic about long-term opportunities supported by increasing environmental awareness.
Regulatory Support
Regulatory support, including EPR regulations and the Telangana E-Waste Policy 2020, is driving formalization and growth.
Rising Demand for Sustainable Raw Materials
Growing demand for sustainable raw materials supports long-term opportunities in the recycling and resource recovery industry.
Government Incentives for Battery Recycling
₹1,500 Cr NCMM incentives are accelerating battery recycling infrastructure development in India.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The presentation primarily highlights annual results (FY25 vs FY26) and half-yearly comparisons, indicating that annual performance and sequential half-year trends are most relevant for assessing growth and operational efficiency in this industry.
Sector KPIs management disclosed
Total Recycling Capacity
Enhanced recycling capacity to 82,000 MT per annum in FY26.
E-waste Recycling Capacity
Installed E-waste Recycling Capacity is 70,000 MTPA.
Battery Recycling Capacity
Installed Battery Recycling Capacity is 12,000+ MTPA.
E-waste Recycled (Cumulative)
Recycled over 86,730,220 Kgs of E-waste as of March 2026.
Management forward view
Optimistic Long-Term Outlook
Management is optimistic about long-term opportunities in recycling and resource recovery, supported by environmental awareness, regulatory support, and demand for sustainable raw materials.
Strategic Investments in Advanced Technologies
Company is making strategic investments in advanced recycling technologies, including a Hydrometallurgy Plant for critical mineral recovery.
Focus on Circular Economy
Committed to building a sustainable circular economy platform through responsible e-waste and battery management.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Hydrometallurgy Plant Commissioning | Setting up Hydrometallurgy Plant for black mass processing. | Timely commissioning and ramp-up of critical mineral recovery operations. |
| Hyderabad E-waste Unit Operationalization | 25,000 MT e-waste unit in Hyderabad set to go live in Q2 FY 26-27. | Successful operationalization and contribution to overall processing volumes. |
| E-waste Collection Rate (India) | India's collection rate remains low at ~10-11%. | Acceleration of collection rates due to EPR-led formalization, impacting feedstock availability. |
| Formal vs Informal Recycling Shift | Formal sector contributes ~20% of e-waste recycling. | Transition of e-waste from informal to formal channels, improving recovery rates and market share. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 71st percentile within IT. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · IT: 71st pctile, median 69 · SME: 90th pctile, median 64
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
82
strong · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 69.1%.
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.03.
- ▸ROCE is 21.3%.
Trust risks
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Namo eWaste Management Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Shareholders meeting 18 Aug - 13th AGM on 17 September 2026; annual report uploaded, e-voting from 14-16 September.
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Investor presentationJun 2025
Jun 2025 · PPT
Source: Nse
Concall transcriptJun 2025
Jun 2025 · Transcript
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
Concall transcriptNov 2024
Nov 2024 · Transcript
Source: Nse
Investor presentationNov 2024
Nov 2024 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.