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May 17, 2024 04:01 PM
Eco Recycling Ltd
SECTOR : Miscellaneous | BSE :530643 |
Electronic Components company Eco Recycling announced Q4FY24 & FY24 results:
- For the FY24, Eco Recycling Limited reported a substantial growth in total revenues with a 64% increase, while the Profit after Tax (PAT) surged by 163%.
- In the Q4FY24, total revenues amounted to Rs 7.66 crore, displaying a YoY increase of approximately 60.59%.
- The company's EBITDA for FY24 was Rs 23.70 crore, turning a previous loss into a profit, and the PAT margin for Q4 FY24 stood at 21.54%.
- Eco Recycling's Earnings Per Share (EPS) showed remarkable improvement, reaching Rs 0.86 in Q4FY24.
Commenting on the performance, 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. | 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 ewaste markets abroad. Our commitment to investing in innovative recycling technologies and adhering international standards remains unwavering. We are enthusiastic about our continued contribution to environmental preservation while driving positive change on a global scale.”
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