Attero to invest over Rs 8,000 cr to ramp up e-waste recycling capacity
The company has set a target to cross $2 billion, about Rs 16,500 crore revenue by 2027. (Photo: X@ANI)
Electronic waste and battery recycling company Attero plans to invest around Rs 8,300 crore in the next five years to ramp up its capacity, the company’s CEO and Co-Founder Nitin Gupta said.
At present, the company has the capacity to recycle up to 1,44,000 tonnes of electronic waste (e-waste) and 15,000 tonnes of lithium-ion battery annually.
“In the next five years, we will obviously be investing roughly around $1 billion overall, including all forms of capital — debt, equity and sort of other non-diluted forms of capital,” Gupta told PTI.
He said that the company is growing 100 per cent year-on-year and gradually increasing capacity.
“A greenfield facility in Europe will come up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalizing the space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) capacity will get to roughly around 4,15,000 tonnes per annum. Our battery (recycling) capacity will broadly reach around 50,000 tonnes per annum in a year,” Gupta said.
The company has set a target to cross $2 billion, about Rs 16,500 crore revenue by 2027.
“Industry is growing at roughly around 30 per cent per annum. We are growing at more than 100 per cent YoY. We had revenue of around Rs 285 crore in financial year 2023 and Rs 440 crore in FY24. This year we expect to cross Rs 1,000 crore in revenue. To achieve the $2 billion target, we just need to invest a few hundred crores to ramp up capacity,” Gupta said.
He claimed that every other Indian company produces an intermediate product that gets further refined either by Attero or companies outside India.
“Globally, our competitors are sitting at less than 75 per cent extraction efficiency, whereas we are at 98 per cent. Our capex requirement for extraction is around $3,250 per tonne, whereas the global capex per tonne is between $5,500 to 10,000. We have the lowest opex in the world,” Gupta said.
He claimed that Attero has a 25 per cent market share, which will grow to 35 per cent next year, whereas the company’s nearest competitor is less than 10 per cent in terms of market share.
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First Published: May 19 2024 | 7:14 PM IST