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Eco Recycling Puts Its Best Foot Forward, Net Profit Up by 185% Featured

Published in Corporate Tuesday, 31 May 2022 11:52

 

Eco Recycling Ltd, specializing in e-Waste with a track record of nearly three decades, has put forward impressive earnings results for the financial year ended 2022 and declared a dividend of 10%.

 

The company grossed a total income at Rs Rs 26.94 crore for the year ended March 2022 as against Rs 18.48 crore in previous year, up by 31%. There was a marginal drop in Total Expenses at Rs 12.93 crore as against Rs 13 crore last year. The net profits were up by 185% at  Rs 12.49 crore as against Rs 4.38 crore. The Earnings Per Share (EPS) was higher at Rs 6.47 as against Rs 2.27 for the year before.

 

Globally, 50 million tonnes of e-waste gets generat¬ed annually and it is increasing rapidly. Interesting¬ly, this so-called ‘e-Waste’ is of great significance and value, commonly termed as urban mine. This is where Eco Recycling Ltd is playing a significant role.

 

Man made products have a certain life cycle and at the same time natural resources are not available in proportion to our need and greed. Therefore, we must realize that recycling is a parallel industry and we must act faster.

 

It becomes more important if we look at the several other indirect benefits of prop¬er recycling over and above the cleaner and greener environment like better health, lesser medical needs, higher productivity, lesser price, lesser investment in recycling facilities as compared to industry infra¬structure required to produce the same commodities, least mining and the least impact on the environment equilibrium.

 

Unfortunately, there is no control over the scrap burning. It’s mostly plastic and electronic waste, like computers, mobile, etc. The Waste comes from the scrap market and unwanted things are thrown here on mangrove land.

 

Hence there is a need to control the unorganized e-waste players who do not care for the environment and open¬ly burn or dilute several items in acids/ other haz-ardous chemicals to recover metals.

 

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