Eco Recycling’s Standalone FY24 Profit Rises By 163 Percent

Mumbai (Maharashtra) [India], May 16: Eco Recycling Limited (BSE: ECORECO), India’s first and one of the leading professional E-waste Management Company today announced its Audited financial results for the Quarter ended 31st March 2024 (Q4 FY24) and FY24.

Consolidated Key Financial Highlights Q4 FY24

•  Total Income of ₹ 7.66 Cr, YoY growth of 60.59 %

•  EBITDA of ₹ 3.29 Cr, Loss To Profit

•  EBITDA Margin of 42.95 %, Loss To Profit

•  PAT of ₹ 1.65 Cr, Loss To Profit

•  PAT Margin of 21.54 %, Loss To Profit

•  EPS of ₹ 0.86, Loss To Profit

Consolidated Key Financial Highlights FY24

•  Total Income of ₹ 35.27 Cr, YoY growth of 63.82 %

•  EBITDA of ₹ 23.70 Cr, YoY growth of 208.19 %

•  EBITDA Margin of 67.20 %, YoY growth of 3,148 Bps

•  PAT of ₹ 18.22 Cr, YoY growth of 194.35 %

•  PAT Margin of 51.66 %, YoY growth of 2,291 Bps

•  EPS of ₹ 9.44, YoY change 194.08 %

Standalone Key Financial Highlights Q4 FY24

•  Total Income of ₹ 8.56 Cr, YoY growth of 78.33 %

•  EBITDA of ₹ 4.29 Cr, Loss To Profit

•  EBITDA Margin of 50.12 %, Loss To Profit

•  PAT of ₹ 2.68 Cr, Loss To Profit

•  PAT Margin of 31.31 %, Loss To Profit

•  EPS of ₹ 1.38, Loss To Profit

Standalone Key Financial Highlights FY24

•  Total Income of ₹ 32.63 Cr, YoY growth of 52.26 %

•  EBITDA of ₹ 21.10 Cr, YoY growth of 176.90 %

•  EBITDA Margin of 64.66 %, YoY growth of 2,911 Bps

•  PAT of ₹ 16.20 Cr, YoY growth of 162.56 %

•  PAT Margin of 49.65 %, YoY growth of 2,086 Bps

•  EPS of ₹ 8.39, YoY change 162.19 % 

Commenting on the performance, Mr. B K Soni, Chairman & Managing Director of Eco Recycling Limited said, “We are delighted to announce yet another successful year marked by robust financial performance. During FY24, total revenues surged by 64%. Overall, PAT saw an impressive surge of 163%, showcasing the strength and resilience of the business. 

Several factors have driven our success, including the growing importance of Extended Producer Responsibility (EPR) obligations and increasing awareness of the need for e-waste recycling. Our proactive support for global brands in meeting their EPR obligations demonstrates our leadership in the industry.

In addition to our financial milestones, our recent capacity expansion has strengthened our capabilities. I am proud to announce our inclusion in TERRA, a prestigious global network of e-Stewards and R2 Certified e-scrap providers. Being the first facility in India to join this esteemed group sets a new standard for sustainable e-waste management, and we are enthusiastic about collaborating for positive change on a global scale.

Looking ahead, we are dedicated to expanding our capacities and exploring opportunities in emerging e-waste markets abroad. Our commitment to investing in innovative recycling technologies and adhering to international standards remains unwavering. We are enthusiastic about our continued contribution to environmental preservation while driving positive change on a global scale.”

Highlights for Q4 FY24 (January 2024 – March 2024)

Ecoreco announces membership with TERRA Group

Ecoreco’s R2v3 Certified Facility in Vasai, near Mumbai, proudly stands as India’s inaugural entrant into TERRA, the world’s premier network of e-Stewards and R2 Certified e-scrap and IT asset disposition providers. This milestone underscores our commitment to pioneering sustainable e-waste management practices in India

Ecoreco Sets Record with Massive E-Waste Collection on Global Recycling Day

On Global Recycling Day, mobilizing five specialized teams equipped with vehicles, Ecoreco collected an impressive 10,914 kilograms of e-waste directly from generators. Our outreach extended to approximately 1,000 industrial units, shops, restaurants, and more, engaging diverse sectors in responsible disposal practices.