CMR

About CMR

Century Metal Recycling (CMR), also known as CMR Green Technologies, is India's largest producer of aluminium and zinc die-casting alloys. Founded in 2006 by the father-son duo Gauri Shankar Agarwala and Mohan Agarwal, the company was established to bring new technology and scale to the metal recycling industry in India. The promoters had prior experience in the industry, having set up a small plant in 1986. Mohan Agarwal, a chartered accountant by training, chose to enter the business world and, seeing the limitations of their existing venture, traveled overseas to source new technology, leading to the formation of CMR.

The company began operations with a technologically advanced plant near New Delhi, featuring European-imported machinery like twin-shaft shredders, eddy current separators, and high-capacity melting furnaces. CMR's business model centers on recycling metal scrap, sourced from over 195 global and various domestic suppliers, into high-quality die-cast alloys. A significant part of their service includes supplying molten metal directly to customer plants, an innovation in the Indian market that reduces costs and carbon emissions for their clients. This service, along with producing traditional metal ingots, serves major automotive original equipment manufacturers (OEMs) and their component suppliers, including prominent names like Maruti Suzuki, Toyota, and Hero MotoCorp.

CMR has expanded significantly since its inception, now operating 12 manufacturing plants across India with a total annual capacity of over 400,000 metric tons. The company has engaged in strategic joint ventures to bolster its technological capabilities and market reach. These include partnerships with Japan's Toyota Tsusho Corporation and Nikkei MC Aluminium. Recently, CMR also formed a joint venture with Chiho Environmental Group Limited to enhance its secondary metal raw material processing capabilities. Having raised $24.5 million over four funding rounds, the company has solidified its position with a 28-30% market share in India.