As India ramps up infrastructure, EV and electronics growth, the structural demand for recycled non-ferrous metals has surged. Jain Resource Recycling — which processes scrap into lead, copper and aluminium products — is gaining traction, with revenues more than doubling in recent years. The company holds approximately 8.6% market share in lead recycling and 3.4% in copper in India. It trades at a premium valuation of ~54× earnings, signalling that investors are betting on its role in the circular economy shift. The key risk remains input-cost volatility and heavy import dependency for scrap supplies.