Company Overview
Eco Recycling Limited, incorporated in 1994 and listed on BSE, is primarily engaged in e-waste collection, disposal and recycling business including IT Asset Disposition, lithium-ion battery processing, and Extended Producer Responsibility (EPR) compliance services.
Financial Performance FY26
The company reported consolidated revenue from operations of ₹48.18 crore (9.6% increase from FY25) and net profit of ₹22.90 crore (slight decline from FY25's ₹23.38 crore). Basic and diluted EPS stood at ₹11.87. Total comprehensive income was ₹22.88 crore. Key financial ratios showed operating margin at 65.90% (down from 73.65% in FY25) and current ratio improved to 4.52x. Total assets increased significantly to ₹134.68 crore from ₹110.56 crore year-over-year, driven by growth in trade receivables (₹15.65 crore) and cash balances (₹13.43 crore).
AGM and Dividend Declaration
The 32nd Annual General Meeting will be held on September 28, 2026, through video conferencing. The board has recommended a final dividend of ₹1 per equity share (10% on face value of ₹10), subject to shareholder approval. The record date for dividend eligibility is September 18, 2026, with e-voting scheduled from September 24-27, 2026.
Business Operations and Strategic Initiatives
The company operates with installed capacity of 31,200 MTPA and holds certifications including R2v3, ISO, NAID, TERRA, and MRAI. Key strategic focus includes critical mineral recovery from e-waste and battery waste, with a conceptualized ₹100 crore investment project for recovery of lithium, cobalt, nickel, copper, precious metals and rare earth elements. The company has been identified among 58 entities under the Ministry of Mines' Critical Mineral Recycling Scheme.
Corporate Governance and Appointments
The board composition includes 3 Executive Directors and 3 Non-Executive Independent Directors, with 7 meetings held during FY26. Key appointments include reappointment of Director Shashank Soni and appointment of CS Vaishali Vaishnav as Secretarial Auditor for five years from FY26. Mr. Arvindra Singh Parmar was appointed as Company Secretary & Compliance Officer from January 31, 2026.
Regulatory Compliance and Audits
The financial statements were approved by the Board on May 24, 2026, and audited by DMKH & Co., Chartered Accountants, who issued an unqualified opinion on both the financial statements and internal financial controls. CSR expenditure was ₹27.29 lakh against prescribed ₹30.89 lakh. The company reported no transactions with struck off companies, no benami property, and all immovable property title deeds are in company's name.
Capital and Ownership Structure
Promoter & Promoter Group holds 73.35% stake, with public holding at 26.65%. Dematerialized shares represent 98.28% of total equity. The company completed a preferential issue of 3,00,000 convertible warrants to promoters at ₹411 per warrant, raising ₹12.33 crore, and decided to acquire remaining 21.74% stake in Ecoreco Park Private Limited to make it wholly-owned subsidiary.
Contingencies and Forward Outlook
Pending litigation includes ₹2.35 crore receivable from Keynote Capital Limited regarding alleged misappropriation of shares, and ₹12.74 lakh income tax dispute for AY 2018-19. The report contains forward-looking statements regarding business outlook and growth prospects which are subject to risks and uncertainties.