Acquisition strengthens NRL’s shift from recycling to automotive manufacturing

Nupur Recycling (NRL), a player in recycling and waste management, has acquired Tycod Autotech in an all-cash transaction valued at Rs 24 crore. The move marks a significant step in the company’s bid to move up the value chain through forward integration.

The acquisition enables NRL to diversify beyond scrap processing into the manufacture of aluminium alloys and precision-engineered automotive components. Following the takeover, the company has committed an additional Rs 10 crore to modernise Tycod’s production facilities. The investment includes the installation of High Pressure Die Casting (HPDC), Vertical Machining Centres (VMC) and Computer Numerical Control (CNC) equipment, intended to raise output and strengthen the company’s appeal to original equipment manufacturers (OEMs).

“This acquisition is a strategic forward integration that allows us to capture greater value from our recycling operations. Tycod gives us the capability to not only expand our aluminium alloy ingot sales but also venture into precision manufacturing for the automotive sector,” said Rajesh Gupta, Managing Director, Nupur Recycling.

Based within Tata Vendor Park at Rudrapur, Pantnagar, Tycod Autotech operates from a 90,000 sq. ft. industrial shed on a 20,215 sq. mt. land parcel, equipped with reinforced concrete infrastructure. The company supplies engine components for Tata commercial vehicles and counts Tata Motors, Sundaram Fasteners and Interpump Group among its customers.

Since the acquisition, Tycod has expanded operations, employing around 175 people. NRL currently supplies more than 100 tonne of aluminium alloy ingots each month to the unit and aims to scale this to 300 tonne by 2026-27 to support the in-house manufacture of automotive parts.

“Joining hands with NRL has accelerated our growth trajectory. With a reliable raw material supply and new investments in advanced machinery, we are now poised to become a leading Tier-1 supplier to OEMs,” said Daksh Maheshwari of Tycod Autotech.

NRL’s expansion reflects its ambition to evolve from a recycler of raw materials into a manufacturer of high-value automotive components, thereby creating integrated and sustainable value across the metals supply chain.