Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹750 Cr.
Stock P/E
32.7
P/B
6.4
Current Price
₹388.6
Book Value
₹ 61.1
Face Value
10
52W High
₹640
52W Low
₹ 225
Dividend Yield
0.26%

Eco Recycling Overview

Business

Eco Recycling Ltd. operates in the environmental services sector, specifically focusing on waste management and recycling. The company's core business involves the collection, processing, and recycling of various waste streams, which likely include electronic waste (e-waste), plastic waste, and potentially other industrial or municipal waste. Its business model centers on acquiring waste materials, often from businesses or institutions, processing them through segregation, dismantling, and material recovery, and then selling the resulting recycled commodities (e.g., metals, plastics, paper pulp) to manufacturers for reuse. The company makes money primarily through the sale of these recycled materials and potentially through service fees for waste collection and environmentally compliant disposal of non-recyclable residues.

Revenue Mix

Without specific financial data, the exact revenue mix is not available. However, based on the industry, key operational segments for Eco Recycling Ltd. likely include:

E-waste Recycling: Processing of discarded electronic appliances and components.

Plastic Recycling: Collection and reprocessing of various types of plastic waste.

Metal Recovery: Extraction and recycling of ferrous and non-ferrous metals from mixed waste streams.

Waste Collection & Logistics: Providing services for the systematic collection and transportation of waste materials.

Specific contributions from each segment are not disclosed.

Industry

The environmental services industry in India is characterized by significant growth potential, driven by increasing waste generation, stricter environmental regulations, and a growing focus on circular economy principles. The industry is fragmented, with both organized players like Eco Recycling Ltd. and a large unorganized sector. Eco Recycling Ltd. likely positions itself as a compliant, technology-driven, and responsible recycler, differentiating itself through adherence to environmental norms, efficient processing capabilities, and a reliable collection network. It would compete with other organized waste management companies, as well as a multitude of smaller, regional, and informal recyclers.

MOAT

Eco Recycling Ltd. may possess competitive advantages through:

Regulatory Compliance & Licenses: Holding the necessary environmental permits and adhering to evolving waste management regulations, particularly crucial for e-waste and hazardous waste, which can be a barrier to entry for smaller players.

Logistics & Collection Network: An established and efficient network for sourcing and collecting diverse waste streams across geographical areas.

Processing Infrastructure: Investment in specialized machinery and technology for efficient segregation, dismantling, and material recovery, leading to higher yields and better quality recycled products.

Customer Relationships: Long-term contracts or preferred vendor status with corporate clients, government bodies, or manufacturers for their waste disposal needs.

Growth Drivers

Key factors that can drive growth for Eco Recycling Ltd. over the next 3-5 years include:

Stricter Environmental Regulations: Increased government emphasis on Extended Producer Responsibility (EPR) and scientific waste management.

Rising Waste Generation: Continuous increase in industrial, commercial, and consumer waste, especially e-waste and plastic, due to urbanization and consumption.

Circular Economy Push: Growing global and national focus on resource efficiency and minimizing landfill waste, leading to higher demand for recycled materials.

Corporate ESG Initiatives: Companies increasingly seeking certified and compliant recyclers to meet their environmental, social, and governance goals.

Government Support & Incentives: Potential subsidies, grants, or favorable policies for green industries and recycling infrastructure.

Risks

Commodity Price Volatility: Revenue and profitability are directly exposed to fluctuations in the prices of recycled commodities (e.g., metals, plastics).

Regulatory Changes: Adverse changes in environmental laws, permits, or waste categorization can impact operations and compliance costs.

Competition: Intense competition from both organized players expanding their reach and the large unorganized sector operating with lower overheads.

Supply Chain Disruptions: Challenges in consistent sourcing and collection of waste materials due to logistics issues, informal market interference, or economic slowdowns.

Technological Obsolescence: Rapid advancements in recycling technologies could necessitate significant capital expenditure to remain competitive.

Environmental & Operational Risks: Potential for accidents during processing, regulatory fines for non-compliance, or risks associated with handling hazardous materials.

Management & Ownership

As a publicly listed company in India, Eco Recycling Ltd. is likely promoter-driven, with the founding family or group retaining a significant ownership stake. The management team would typically comprise experienced professionals in environmental engineering, waste management, and business administration. Ownership would primarily be with the promoter group, along with institutional investors and public shareholders, reflecting a mix of long-term strategic control and public liquidity.

Outlook

Eco Recycling Ltd. operates in a sector with strong long-term tailwinds driven by increasing waste volumes and an escalating regulatory push towards a circular economy in India. This provides a clear growth runway for organized and compliant players. The company's ability to maintain efficient collection networks, invest in advanced processing technologies, and consistently adhere to environmental norms will be critical for capitalizing on this opportunity. However, the business faces inherent risks from the volatile nature of recycled commodity prices and the need to navigate a dynamic regulatory landscape. Competition, both from established players and the informal sector, also presents a continuous challenge. Its future performance will largely depend on balancing operational efficiencies and technological advancements against market price fluctuations and regulatory compliance costs.

Eco Recycling Share Price

Live · BSE / NSE · Inception: 1994
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Eco Recycling Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 8 11 13 10 10 9 14 6 19 16
Other Income -0 2 1 -0 -0 4 0 1 -1 3
Total Income 8 13 14 9 10 14 14 7 18 19
Total Expenditure 4 3 4 3 3 4 7 2 6 7
Operating Profit 3 10 10 6 7 9 7 5 12 12
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation -0 0 0 0 0 0 0 0 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 3 10 10 6 6 9 7 4 11 11
Provision for Tax 2 2 2 1 4 1 1 2 4 2
Profit After Tax 2 8 8 5 2 8 6 2 7 9
Adjustments 0 -0 -0 0 -0 -0 0 -0 1 -1
Profit After Adjustments 2 8 8 5 2 8 6 2 8 9
Adjusted Earnings Per Share 1 4.1 4.2 2.5 1.1 4 3 1 4 4.4

Eco Recycling Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 37 19 12 12 12 13 15 18 28 44 48 55
Other Income 1 0 3 1 1 6 12 4 7 3 5 3
Total Income 37 20 14 13 13 18 27 22 35 47 54 58
Total Expenditure 36 18 12 11 11 12 12 14 12 14 20 22
Operating Profit 1 1 2 2 3 6 15 8 24 33 33 36
Interest 1 1 1 1 1 0 0 0 1 1 1 0
Depreciation 0 0 0 0 0 0 0 1 1 1 2 2
Exceptional Income / Expenses 0 -1 -9 0 0 0 0 0 0 0 0 0
Profit Before Tax -0 -2 -9 1 1 6 14 7 22 32 31 33
Provision for Tax 0 -0 0 -0 0 1 2 0 4 8 8 9
Profit After Tax -0 -2 -9 1 1 4 13 6 18 23 23 24
Adjustments 0 0 0 0 0 0 0 0 -0 0 0 0
Profit After Adjustments -0 -2 -9 1 1 4 13 6 18 23 23 25
Adjusted Earnings Per Share -0.1 -0.8 -4.6 0.6 0.6 2.3 6.6 3.2 9.2 12.1 12 12.4

Eco Recycling Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 31 28 24 24 24 32 50 46 66 88 111
Minority's Interest 0 0 0 0 0 0 0 1 2 2 1
Borrowings 13 12 18 15 15 11 11 0 0 0 0
Other Non-Current Liabilities 0 0 2 1 1 1 2 2 7 7 7
Total Current Liabilities 29 14 6 6 4 2 5 13 6 14 16
Total Liabilities 73 54 49 46 44 46 67 62 81 111 135
Fixed Assets 14 14 22 22 22 22 20 34 39 59 57
Other Non-Current Assets 18 13 9 13 11 12 19 14 11 8 6
Total Current Assets 40 27 18 12 11 11 27 14 30 43 72
Total Assets 73 54 49 46 44 46 67 62 81 111 135

Eco Recycling Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 0 0 0 0 2 0 2 10 1 2 3
Cash Flow from Operating Activities 2 -1 6 8 5 9 0 16 -3 17 13
Cash Flow from Investing Activities -2 1 -0 -3 -4 -0 8 -24 3 -14 -1
Cash Flow from Financing Activities 0 -0 -6 -4 -4 -7 -0 -1 -0 -1 -1
Net Cash Inflow / Outflow 0 -0 0 2 -2 2 8 -9 0 1 11
Closing Cash & Cash Equivalent 0 0 0 2 0 2 10 1 2 3 13

Eco Recycling Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -0.11 -0.85 -4.58 0.57 0.57 2.32 6.58 3.21 9.24 12.14 11.98
CEPS(Rs) 0.04 -0.67 -4.38 0.82 0.82 2.57 6.82 3.7 9.86 12.64 12.69
DPS(Rs) 0 0 0 0 0 0 1 0 0 0 1
Book NAV/Share(Rs) 15.91 14.45 9.06 9.19 12.3 13.27 24.74 22.79 33.15 44.6 56.37
Core EBITDA Margin(%) 1.52 4.99 -7.97 13.56 12.07 4.49 18.7 21.54 58.73 68.74 58.12
EBIT Margin(%) 2.31 -2.28 -66.44 14.5 16.58 46.6 93.26 38.27 81.79 73.7 65.93
Pre Tax Margin(%) -0.34 -8.69 -76.75 6.35 9.99 43.97 92.98 37.23 79.26 72.03 64.48
PAT Margin (%) -0.6 -8.42 -76.75 8.84 9.09 35.33 83.05 34.92 65.05 53.18 47.53
Cash Profit Margin (%) 0.22 -6.65 -73.45 12.64 13.02 39.13 86.14 40.21 67.92 55.48 50.81
ROA(%) -0.33 -2.58 -17.11 2.3 2.45 9.99 22.54 9.57 25.5 24.46 18.68
ROE(%) -0.72 -5.59 -38.97 6.25 5.35 18.13 34.61 13.51 33.76 31.16 23.51
ROCE(%) 1.75 -0.92 -17.42 4.6 5.13 15.16 29.7 13.18 42.45 43.18 32.61
Receivable days 199.67 320.09 234.51 127.74 99.68 50.59 25.13 35.55 44.9 50.11 88.16
Inventory Days 86.14 167.12 244.51 137.04 83.23 70.39 78.57 87.43 67.72 75.29 103.45
Payable days 171.35 406.46 98.05 6.85 18.87 12.05 61.34 387.7 349.44 41.15 101.14
PER(x) 0 0 0 70.89 41.51 24.58 17.37 34.09 55.48 55.31 22.76
Price/Book(x) 2.42 2.24 4.92 4.4 1.94 4.29 4.62 4.8 15.46 15.05 4.84
Dividend Yield(%) 0 0 0 0 0 0 0.88 0 0 0 0.37
EV/Net Sales(x) 2.51 4.21 9.44 7.75 5.18 9.45 14.45 11.84 35.25 29.4 10.64
EV/Core EBITDA(x) 80.2 65.25 62.53 42.37 25.25 18.76 14.99 27.17 41.64 38.69 15.38
Net Sales Growth(%) 18.87 -47.11 -40.83 8.03 -1.97 3.86 20.69 16.03 57.95 56.92 9.61
EBIT Growth(%) -59.65 -152.13 -1625.81 123.58 12.07 191.97 141.54 -52.38 237.53 41.38 -1.94
PAT Growth(%) -123.69 -639.67 -439.44 112.44 0.81 303.56 183.68 -51.21 194.23 28.29 -2.04
EPS Growth(%) -123.69 -639.55 -439.47 112.45 0.81 303.57 183.69 -51.21 187.86 31.37 -1.3
Debt/Equity(x) 0.6 0.7 1.31 1.14 0.72 0.44 0.24 0 0 0 0
Current Ratio(x) 1.37 1.98 3.32 1.8 2.71 5.96 5.4 1.1 5.13 3.07 4.52
Quick Ratio(x) 1.07 1.32 2.15 1.35 2.04 4.81 4.54 0.79 4.07 2.23 3.54
Interest Cover(x) 0.87 -0.36 -6.45 1.78 2.52 17.75 326.98 36.77 32.29 44.35 45.39
Total Debt/Mcap(x) 0.25 0.31 0.27 0.26 0.37 0.1 0.05 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +9% +39% +30% +3%
Operating Profit CAGR 0% +60% +41% +42%
PAT CAGR 0% +57% +42% —
Share Price CAGR -33% +23% +38% +27%
ROE Average +24% +29% +27% +11%
ROCE Average +33% +39% +32% +15%

Eco Recycling Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 73.35 %
FII 0.25 %
DII (MF + Insurance) 0.2 %
Public (retail) 26.21 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 73.3573.3573.3573.3573.3573.3573.3573.3573.3573.35
FII 1.181.161.181.141.120.930.910.720.430.25
DII 0000.030.120.180.140.140.140.2
Public 25.4725.4925.4725.4925.4125.5525.6125.826.0826.21
Others 0000000000
Total 100100100100100100100100100100

Eco Recycling Peer Comparison

Environmental Services Edit Columns

Eco Recycling Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Eco Recycling Pros & Cons

Pros

  • Company has delivered good profit growth of 41% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 41.15 to 101.14days.
  • Stock is trading at 6.4 times its book value.
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