NRL Recycling Expands into Auto Components with Tycod Acquisition

NRL Recycling Limited, a leading recycling and waste management company, has acquired Tycod Autotech Pvt Ltd in an all-cash deal worth INR 240 million, marking a strategic step in its forward integration journey.

The acquisition deepens NRL’s strategy to move up the value chain from scrap processing to the production of aluminium alloys and precision-engineered automotive components. Post-acquisition, NRL has invested an additional ₹10 crore to modernise Tycod’s production infrastructure, including the installation of High Pressure Die Casting (HPDC), VMC, and CNC machinery. These upgrades are designed to increase capacity and attract further OEM partnerships in the coming quarters.

“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 Mr Rajesh Gupta, Managing Director, Nupur Recycling Limited.

Tycod Autotech Pvt Ltd is a profitable company, located within the 200-acre Tata Vendor Park, Rudrapur, Pantnagar, operating a 90,000 sq. ft. industrial shed on a 20,215 sq. mt. land parcel with robust RCC infrastructure. The facility currently manufactures engine components for Tata commercial vehicles and supplies them to key OEMs such as Tata Motors, Sundaram Fasteners, and Interpump Group.

Since its acquisition by NRL, Tycod has scaled operations with a current workforce of approximately 175 employees and plans for further expansion. “We’re already dispatching over 100 tonnes of aluminium alloy ingots monthly to Tycod and are ensuring consistent quality and on-time delivery for our key OEM clients,” Mr Gupta added. “Looking ahead, we’re targeting 300 tonnes per month to support in-house manufacturing of auto components by the year of 26-27”

Daksh Maheshwari from Tycod Autotech said, “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.”

This move reinforces NRL’s long-term ambition to shift from raw material recycling to precision manufacturing, creating integrated, sustainable value across the metals supply chain.