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Scrap Emerges as Cornerstone of India’s Steel Decarbonisation Journey

Speakers emphasised that sourcing sufficient scrap remains a key challenge as India’s steel demand continues to rise.

Published

7 hours ago

November 14, 2025

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Steel scrap is rapidly becoming a critical enabler of India’s green steel ambitions, industry leaders highlighted at the 12th Indian Steel Markets Conference, organised by mjunction services limited.

“Steel is one of the few materials that can be recycled endlessly without compromising strength or quality. This makes it the foundation not only of industrial growth, but also of sustainability,” said Vinaya Varma, Managing Director, mjunction services limited, during the opening session of the two-day conference. India currently consumes around 42 million tonnes of scrap annually, growing at over 6 per cent per year, with nearly 9 million tonnes being imported.

Reflecting global priorities around decarbonising steel, this year’s conference is centred on the theme: ‘Indian Steel Value Chain – Recycle. Reshape. Innovate. Sustain.’

“Sustainability is no longer optional—it is strategic,” noted Syed Jawed Ahmed, Executive Director, SAIL, as he outlined the company’s efforts to build capabilities aligned with emerging green steel norms.

Speakers emphasised that sourcing sufficient scrap remains a key challenge as India’s steel demand continues to rise. “Government capex accounts for nearly 60 per cent of steel consumption, but the needs of India’s young and expanding population are also accelerating demand,” said Girishkumar Kadam, Senior Vice President & Group Head, Corporate Sector Ratings, ICRA.

The supply side is equally strained. According to Sandeep Kumar, Vice President, Raw Materials, Tata Steel, reliance on imported coking coal is becoming increasingly expensive, while aggressive bidding for iron ore mines is pushing up domestic ore prices.

Beyond decarbonisation, the conference aims to offer sharp insights into the volatile global and domestic environment, policy transitions, shifting trade patterns, and the increasing focus on sustainability that is shaping India’s steel growth trajectory.

mjunction Strengthens Organised Scrap Procurement Ecosystem

With over two decades of leadership in the organised scrap trade, mjunction has been a key partner for industries ranging from Auto OEMs and EPC projects to P&M units and other industrial suppliers. As an early mover in enabling sales from Registered Vehicle Scrapping Facilities (RVSFs), the company has been sourcing scrap for organised buyers for the last six years.

To address the widening demand–supply gap, mjunction has developed an AI-driven digital procurement platform backed by a specialised team of scrap professionals. The platform ensures structured market access for buyers while maintaining strict environmental, legal, and commercial compliance. More than 250 GST-compliant suppliers have been onboarded across 120+ locations, reinforcing the network’s breadth and credibility.

Over the past three years, mjunction has supplied 1.2 million tonnes of scrap to major Integrated Steel Plants across 15 states. The company has also coordinated logistics for over 37,000 vehicles and 64 rail rakes, ensuring smooth, end-to-end delivery, Varma noted.

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Nippon Paint India Appoints Sharad Malhotra as Managing Director

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Nippon Paint India Appoints Sharad Malhotra as Managing Director

Malhotra becomes first Indian to lead Nippon Paint’s India operations

Published

3 days ago

November 11, 2025

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New Delhi, November 10, 2025 – The NIPSEA Group, a subsidiary of Nippon Paint Holdings, Japan, has announced the appointment of Sharad Malhotra as Managing Director of Nippon Paint India, effective December 1, 2025. He succeeds Jon Tan and will report to Wee Siew Kim, CEO of NIPSEA Group. Malhotra becomes the first Indian to hold this leadership role.

Headquartered in Japan, Nippon Paint is the world’s fourth-largest paint company by revenue and the leading paints and coatings brand in the Asia-Pacific region. The appointment reinforces the company’s long-term commitment to India, a key strategic growth market.

A Proven Leader in Paint Innovation
A 15-year veteran with Nippon Paint, Malhotra has been instrumental in building the company’s automotive refinish, wood coatings, and light industrial coatings business in India. He also serves as a Director on the Board and has recently led the company’s expansion into new product categories, including paint protection films.

Commenting on the appointment, Wee Siew Kim, Co-President of Nippon Paint Holdings and Group CEO, said, “We are delighted to appoint Sharad Malhotra to this pivotal leadership role. His proven track record, strategic vision, and deep understanding of the Indian market make him ideally suited to lead our next phase of growth.”

Vision for India’s Growth Story
On his new role, Sharad Malhotra said, “It is an immense honour to lead Nippon Paint India at this transformative moment. India presents unique opportunities, and I look forward to building on our strengths and expanding possibilities for our customers and partners.”

As Managing Director, Malhotra will oversee the company’s strategic direction and drive sustainable growth across all segments of the Indian paint market. He will also continue to lead Nippon Paint’s global automotive aftermarket business, a division he has successfully developed from inception.

India: A Strategic Growth Market
With India’s expanding infrastructure, skilled workforce, and strong economic growth, Nippon Paint sees the country as central to its Asia-Pacific ambitions. Under Malhotra’s leadership, the company aims to strengthen its market presence while delivering value to stakeholders and advancing sustainable innovation.

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Kamdhenu Reports Highest-Ever Profitability in H1 FY26

Royalty income recorded robust 27 per cent growth to Rs 860 million, supported by a one-time royalty receipt.

Published

3 days ago

November 11, 2025

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Kamdhenu, India’s largest manufacturer and seller of branded TMT Bars in the retail segment, announced its unaudited financial results for the quarter and half year ended 30 September 2025. The company delivered its strongest profitability to date, driven by higher royalty income and continued cost optimization.

During Q2 FY26, Kamdhenu reported revenue from operations of Rs 1.91 billion, a marginal increase from Rs 1.90 billion in Q2 FY25, while profit before tax rose 23 per cent to Rs 250.7 million. The PBT margin improved to 13.5 per cent, compared to 11.0 per cent in the same period last year, and profit after tax increased to Rs 180.7 million from Rs 150.9 million. For H1 FY26, revenue grew 3 per cent year-on-year to Rs 3.86 billion, and profit before tax increased 33 per cent to Rs 540.3 million. The company delivered a PBT margin of 14.0 per cent, up 310 basis points from 10.9% in H1 FY25. Profit after tax for the half year stood at Rs 400.1 million, reflecting a growth of 28 per cent over the previous year.

“Kamdhenu’s H1 FY26 results highlight our ability to deliver resilient profitability despite a dynamic steel environment. Revenue grew 3 per cent year-on-year to Rs 3.87 billion, while PBT rose 33 per cent to Rs 540 million. Our PBT margin expanded by 310 basis points to 14.0 per cent in H1 FY26, reflecting strong operating discipline. PAT increased 28 per cent to Rs 400 million.

Royalty income recorded robust 27 per cent growth to Rs 860 million, supported by a one-time royalty receipt. This underscores the strength of our asset-light franchise model and increasing brand penetration, enabling scalable and capital-efficient growth.

Revenue from own facilities stood at Rs 3.01 billion with sales volumes of ~61,400 MT, while franchise volumes increased 8 per cent YoY to 18 lakh MT.

Unseasonal weather and prolonged rainfall affected operations in key markets during the quarter, temporarily impacting volumes and realizations. Softer steel prices also weighed on average selling prices. However, these are short-term effects, and we expect normalcy to return as conditions stabilize.

The broader demand environment remains strong, with TMT bars continuing to benefit from sustained infrastructure spending and robust construction activity. With a trusted brand, an extensive franchise network, and pan-India distribution strength, Kamdhenu is well positioned to capitalize on growth opportunities and deliver long-term value.”

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Sirca Paints Posts Higher Revenue and Profit in Q2 FY26

Sirca Paints India has extended its long-standing agreement with Sirca S.p.A., Italy, until 2041.

Published

3 days ago

November 11, 2025

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Sirca Paints India, a leading manufacturer of premium wood coatings, announced its unaudited financial results for the quarter and half year ended 30 September 2025, reporting resilient growth supported by an improved product mix and sustained margin expansion.

During Q2 FY26, revenue rose 24.37 per cent year-on-year to Rs 1.31 billion, driven by strong demand in high-value product segments. EBITDA increased 44.52 per cent to Rs 270.40 million, supported by operational efficiencies and stronger margins, while PAT grew 36.30 per cent to Rs 180.10 million, reflecting disciplined cost management and enhanced profitability.

Key Financial Highlights (Q2 FY26):

Revenue: Rs 1.31 billion, up 24.38 per cent YoY and 14.82 per cent QoQ
EBITDA: Rs 270.40 million, up 44.51 per cent YoY and 21.45 per cent QoQ
EBITDA Margin: 20.89 per cent, compared to 17.98 per cent in Q2 FY25

Sirca continued to strengthen its presence in high-potential categories such as acrylic-based and waterborne PU systems, focusing on innovation, sustainability, and superior performance to drive category leadership.

Sirca Paints India has extended its long-standing agreement with Sirca S.p.A., Italy, until 2041. The renewed partnership includes the transfer of technical expertise for local manufacturing of high-quality acrylic, UV, and polyester-based wood coatings. Under the agreement, Sirca India will pay a quarterly royalty of 0.75 per cent of turnover. This expansion enhances technological self-reliance, strengthens market competitiveness, and improves supply chain efficiency.

Commenting on the results, Sanjay Agarwal, Chairman & Managing Director, said, “Despite challenges posed by extended monsoons and an early festive season affecting short-term retail momentum, Sirca remained focused on product innovation and market expansion. Throughout the quarter, we reinforced our operational and market foundations to support sustainable, long-term growth.

We are pleased to introduce a new range of PU coatings under the ‘Wembley’ brand, launched through the ‘Valentino’ sub-brand, designed for the premium furniture and interior segment. The range is already gaining traction across our distributor base. Our emphasis on innovation—particularly in metallic and acrylic finishes—continues to strengthen our brand differentiation, and we remain deeply engaged with architects and interior designers to enhance professional recall and advocacy.”