POCL targets 1,04,000-MTPA metals platform through integration

POCL Enterprises Limited is targeting approximately 1,04,000 metric tonnes per annum (MTPA) of combined group manufacturing and processing capacity, supported by its 51% acquisition of TMA, a pending Planetfirst merger and a completed 2,400-MTPA zinc oxide expansion in Q2 FY 2026-27. The proposed copper recycling initiative carries expected annual turnover of Rs 300 crore.

What does POCL’s 1,04,000-MTPA platform include?

POCL says its group has approximately 1,04,000 MTPA of combined manufacturing and processing capacity and is focusing on improving utilisation, sharing operating capabilities and widening its presence in the non-ferrous metals value chain. The disclosed platform includes lead, zinc oxide, zinc metal, lead metal, PVC stabilizers and planned copper scrap processing and recycling.

The presentation separately identifies 37,500 MTPA of installed lead refining capacity at Planetfirst Green Private Limited and 26,000 MTPA of lead refining capacity at Trichy Metals and Alloys Private Limited, or TMA. TMA also has approximately 21,500 MTPA of smelting capacity, while POCL added 2,400 MTPA of zinc oxide capacity in the second quarter (Q2) of FY 2026-27.

Those stated lead-refining and smelting capacities total 85,000 MTPA before the 2,400-MTPA zinc oxide addition. POCL does not provide a component-by-component bridge to the approximately 1,04,000-MTPA group total, so the figure should be read as an aggregate capacity measure rather than a disclosed total of the individual assets listed in the presentation.

How would the Planetfirst merger change POCL’s lead business?

POCL’s board approved the proposed amalgamation of Planetfirst with and into POCL on March 16, 2026, with an appointed date of April 1, 2026, subject to regulatory and statutory approvals. Management expects the transaction to create operating synergies and strengthen its integrated lead business, including product, marketing and distribution capabilities in domestic and international markets.

The proposed merger remains pending. BSE Limited issued its No Adverse Observation letter on July 7, 2026, and the National Company Law Tribunal, Chennai Bench, directed POCL on October 13, 2026 to convene meetings of equity shareholders and unsecured creditors on November 27, 2026 at 10:30 a.m. and 12:30 p.m., respectively.

Planetfirst’s Surat, Gujarat facility is intended to improve POCL’s customer accessibility in Western India. In the first six months of FY 2026-27, Planetfirst reported approximately Rs 288.78 crore of turnover, Rs 2.23 crore of profit after tax (PAT), and Rs 50.74 crore of export turnover; its 37,500-MTPA lead-refining capacity would be formally integrated if the scheme receives the required approvals.

What did TMA add after POCL acquired control?

POCL completed the acquisition of a controlling 51% stake in TMA on July 15, 2026 for Rs 12.47 crore, following board approval on July 1, 2026. The transaction made TMA a POCL subsidiary and added a Southern India facility engaged in lead and other non-ferrous metals manufacturing.

TMA has approximately 26,000 MTPA of lead-refining capacity and 21,500 MTPA of smelting capacity, with the facility operating at around 50% capacity utilisation when disclosed. Management says it aims to progressively achieve optimum utilisation and sees scope for more efficient raw-material sourcing, supply-chain integration and operating efficiencies.

TMA reported Rs 122.96 crore of revenue and Rs 1.83 crore of PAT in the first half (H1) of FY 2026-27, compared with Rs 163.75 crore of revenue and Rs 3.60 crore of PAT in the full FY 2025-26. H1 revenue was therefore Rs 40.79 crore below the preceding full-year figure, while management said it expected to surpass the previous year’s performance in the near term.

How is POCL expanding zinc oxide and zinc metal sales?

POCL completed an additional 2,400 MTPA of zinc oxide manufacturing capacity at its Metallic Oxides Division in Mettupalayam, Puducherry during Q2 FY 2026-27. Management expects this additional capacity to generate incremental annual revenue of approximately Rs 60 crore to Rs 70 crore.

The zinc oxide expansion is a completed capacity addition, whereas the zinc metal plan focuses on commercial sales through value-added processing for domestic and international markets. POCL reported zinc metal sales of 1,423 metric tonnes, worth Rs 50.08 crore, in the six months ended September 30, 2026.

POCL has not disclosed a zinc-metal capacity target, utilisation measure or sales target beyond the 1,423 metric tonnes reported for the six-month period. Management says its stated plan is to scale volumes and optimise operations, while the zinc oxide project is positioned as a source of annual incremental revenue.

What is POCL’s proposed copper recycling opportunity?

POCL proposes to enter copper scrap processing and recycling, with management expecting incremental annual turnover of Rs 300 crore from the initiative. The proposed business would extend POCL’s portfolio beyond lead oxides, zinc oxide, PVC stabilizers, zinc metal and lead metal.

Copper is described as a proposed expansion rather than a completed capacity addition. Unlike TMA’s 26,000-MTPA lead-refining capacity, its 21,500-MTPA smelting capacity, or the completed 2,400-MTPA zinc oxide project, the presentation gives no copper capacity, capital expenditure, site, commissioning date or utilisation assumption.

The distinction matters because the approximately 1,04,000-MTPA platform is described as combined capacity across existing group entities, while copper is an initiative intended to create an additional revenue stream. POCL’s stated longer-term aim is an integrated and diversified non-ferrous metals business, but the timing and operating scale of copper recycling remain undisclosed.

Conclusion

POCL’s expansion programme combines a completed 51% TMA acquisition for Rs 12.47 crore, a completed 2,400-MTPA zinc oxide capacity addition and a proposed Planetfirst amalgamation. TMA brings 26,000 MTPA of lead refining and 21,500 MTPA of smelting capacity, while Planetfirst contributes 37,500 MTPA of lead-refining capacity and approximately Rs 288.78 crore of H1 FY 2026-27 turnover.

The next disclosed event is the November 27, 2026 meeting of POCL’s equity shareholders and unsecured creditors on the Planetfirst scheme. Management’s plan also leaves two execution points to watch: raising TMA from around 50% utilisation toward optimum use, and providing capacity, timing and project details for the copper recycling proposal with expected annual turnover of Rs 300 crore.