Eco Recycling Limited

BSE: ECORECO530643ISIN INE316A01038

Utilities
Waste Management
BSE Utilities

Share price

₹402.75+6.30 (+1.59%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹605.05
52W low: ₹225.00
Off 52W high: -33.44%
1M return: -6.12%
3M return: -18.73%
6M return: -18.97%
1Y return: -32.59%
20D avg volume: 3,508
50 DMA: ₹424.00
200 DMA: ₹427.55

Key ratios Consolidated

Market cap: ₹777.18 Cr
Current price: ₹402.75
52W high / low: ₹605.05 / ₹225.00
Face value: ₹10.00
P/E: 32.44
P/B: 7.03
EPS (TTM): ₹12.42
Book value / share: ₹57.32
ROE: —
ROCE: 26.70%
Operating margin: —
Net margin: —
Debt / equity: 0.02
Net debt: ₹-11.15 Cr
Interest cover: 46.03
Dividend yield: 0.25%
Dividend / share (TTM): ₹1.00
Payout: 8.05%
Cash conversion cycle: 191.5 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	16.42	16.19	18.61	5.91	14.42	9.24	9.77	9.92	12.87	11.40	8.05	7.47
	-0.77	2.94	-0.95	1.14	0.06	4.38	-0.27	0.46	1.04	2.04	0.39	2.13
	15.65	19.13	17.66	7.05	14.48	13.62	9.50	9.46	13.91	13.44	7.66	9.60
	7.81	7.73	6.62	2.82	7.68	4.63	3.23	3.71	4.07	3.62	4.46	2.69
	1.78	5.10	2.41	1.86	2.97	8.61	2.81	0.86	0.79	0.92	2.18	0.89
	3.26	3.47	2.12	2.07	1.71	0.87	3.34	0.47	1.08	0.36	0.42	1.27
	0.80	0.74	0.94	0.81	0.93	0.81	1.11	0.91	0.89	0.94	1.21	0.72
	0.08	0.08	0.25	0.14	0.15	0.15	0.15	0.16	0.17	0.17	0.35	0.11
	0.58	0.57	0.69	0.29	0.30	0.30	0.27	0.25	0.25	0.24	0.26	0.35
	0.70	0.55	1.83	0.84	0.20	0.40	0.54	0.84	1.24	1.44	1.10	0.57
	7.84	11.40	11.04	4.23	6.80	8.99	6.27	5.75	9.84	9.82	3.20	6.91
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	7.84	11.40	11.04	4.23	6.80	8.99	6.27	5.75	9.84	9.82	3.20	6.91
	0.35	2.23	3.90	2.18	1.20	0.90	2.85	1.01	1.64	1.67	1.55	1.18
	7.49	9.17	7.14	2.05	5.60	8.09	3.42	4.74	8.20	8.15	1.65	5.73
	3.98	4.49	3.85	1.02	2.97	4.19	1.19	2.45	4.25	4.23	0.86	2.97
Key metrics
	8.50	12.05	11.98	4.66	7.25	9.44	6.69	6.16	10.26	10.23	3.81	7.37
	51.80%	74.40%	64.40%	78.80%	50.30%	102.20%	68.50%	62.10%	79.70%	89.70%	47.30%	98.70%
	45.60%	56.60%	38.40%	34.70%	38.80%	87.60%	35.00%	47.80%	63.70%	71.50%	20.50%	76.70%
	5.90%	—	9.50%	—	6.30%	—	6.60%	—	—	—	—	—
	13.90%	75.20%	90.50%	-40.40%	12.00%	-18.90%	21.40%	32.80%	—	—	—	—
	33.80%	13.30%	108.80%	-56.80%	-31.70%	-0.70%	107.30%	-17.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	57.13	48.18	43.96	28.01	17.74	15.29
	2.36	4.63	2.34	7.26	3.79	11.87
	59.49	52.81	46.30	35.27	21.53	27.16
	24.98	21.74	14.63	13.07	14.92	12.95
	11.15	9.98	6.94	4.61	4.01	7.14
	10.92	6.36	5.26	3.33	1.69	0.93
	3.29	3.48	3.86	3.25	2.91	2.81
	0.55	0.69	0.64	0.70	0.15	—
	2.13	1.58	1.01	0.80	0.94	0.47
	3.92	3.26	2.49	2.55	4.95	3.79
	34.51	31.07	31.67	22.20	6.61	14.21
	0.00	0.00	0.00	0.00	0.00	0.00
	34.51	31.07	31.67	22.20	6.61	14.21
	8.66	8.17	7.07	3.98	0.42	1.51
	25.85	22.90	24.60	18.22	6.19	12.70
	13.34	11.87	12.12	9.44	3.21	6.56
Key metrics
	37.19	33.34	33.32	23.70	7.70	14.68
	65.10%	69.20%	75.80%	84.60%	43.40%	96.00%
	45.25%	47.50%	56.00%	65.00%	34.90%	83.10%
	—	26.70%	33.30%	—	—	—
	31.79%	9.60%	56.90%	57.90%	16.00%	—
	18.31%	-6.90%	35.00%	194.30%	-51.30%	—
	—	11.83	-3.60	—	—	—
	—	0.56	0.69	—	—	—
	—	0.02	0.03	—	—	—
	—	-11.15	-0.23	—	—	—
	—	191.5	151.2	—	—	—
Balance sheet
	—	134.68	110.56	—	—	—
	—	71.71	43.23	—	—	—
	—	13.43	2.92	—	—	—
	—	15.65	7.62	—	—	—
	—	15.46	11.85	—	—	—
	—	—	12.71	—	—	—
	—	56.84	58.65	—	—	—
	—	5.83	1.26	—	—	—
	—	15.88	13.54	—	—	—
	—	2.28	2.69	—	—	—
	—	0.00	0.00	—	—	—
	—	2.28	2.69	—	—	—
	—	112.05	89.58	—	—	—
Cash flow
	—	12.89	16.89	—	—	—
	—	-0.91	-14.05	—	—	—
	—	-1.47	-1.44	—	—	—
	—	1.06	20.49	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	16.42	16.19	18.61	5.91	14.42	9.24	9.77	9.92	12.87	11.40	8.06	7.47
	0.07	0.28	1.28	0.54	0.11	2.96	1.07	0.17	0.23	1.13	0.50	1.30
	16.49	16.47	19.89	6.45	14.53	12.20	10.84	10.09	13.10	12.53	8.56	8.77
	7.97	7.68	6.49	2.87	7.64	4.59	3.20	3.67	4.16	3.60	4.36	2.78
	1.78	5.10	2.41	1.86	2.97	8.61	2.81	0.86	0.79	0.92	2.18	0.89
	3.26	3.47	2.12	2.07	1.71	0.87	3.34	0.47	1.08	0.36	0.42	1.27
	0.77	0.71	0.92	0.78	0.90	0.78	1.08	0.90	0.89	0.94	1.21	0.72
	0.08	0.08	0.17	0.14	0.15	0.15	0.15	0.16	0.17	0.17	0.35	0.11
	0.58	0.57	0.68	0.29	0.30	0.30	0.26	0.25	0.24	0.24	0.26	0.34
	0.89	0.53	1.81	0.92	0.19	0.39	0.55	0.81	1.34	1.42	1.00	0.67
	8.52	8.79	13.40	3.58	6.89	7.61	7.64	6.42	8.94	8.93	4.20	5.99
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	8.52	8.79	13.40	3.58	6.89	7.61	7.64	6.42	8.94	8.93	4.20	5.99
	0.99	1.92	4.07	2.03	0.71	0.90	4.53	1.01	1.52	1.52	1.52	1.02
	7.53	6.87	9.33	1.55	6.18	6.71	3.11	5.41	7.42	7.41	2.68	4.97
	3.91	3.56	4.84	0.81	3.20	3.48	1.60	2.80	3.85	3.84	1.38	2.58
Key metrics
	9.18	9.44	14.25	4.01	7.34	8.06	8.05	6.83	9.35	9.34	4.81	6.44
	55.90%	58.30%	76.60%	67.90%	50.90%	87.20%	82.40%	68.90%	72.60%	81.90%	59.70%	86.20%
	45.90%	42.40%	50.10%	26.20%	42.90%	72.60%	31.80%	54.50%	57.70%	65.00%	33.30%	66.50%
	6.60%	—	11.60%	—	6.60%	—	8.20%	—	—	—	—	—
	13.90%	75.20%	90.50%	-40.40%	12.00%	-18.90%	21.20%	32.80%	—	—	—	—
	21.80%	2.40%	200.00%	-71.30%	-16.70%	-9.40%	16.00%	8.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	57.13	48.18	43.96	28.02	17.73	15.10
	2.17	4.90	2.60	4.61	3.70	11.84
	59.30	53.08	46.56	32.63	21.43	26.94
	25.01	21.59	14.65	13.03	14.89	12.93
	11.15	9.98	6.94	4.61	4.01	7.13
	10.92	6.36	5.26	3.33	1.69	0.93
	3.18	3.37	3.82	3.25	2.91	2.80
	0.47	0.61	0.64	0.70	0.15	—
	2.12	1.57	1.00	0.80	0.93	0.47
	4.15	3.31	2.56	2.51	4.93	3.79
	34.29	31.49	31.91	19.60	6.54	14.01
	0.00	0.00	0.00	—	—	—
	34.29	31.49	31.91	19.60	6.54	14.01
	9.01	7.72	8.58	3.41	0.37	1.51
	25.28	23.77	23.33	16.19	6.17	12.50
	13.12	12.32	12.09	8.39	3.20	6.47
Key metrics
	36.88	33.67	33.55	21.10	7.62	14.48
	64.55%	69.90%	76.30%	75.30%	43.00%	95.90%
	44.25%	49.30%	53.10%	57.80%	34.80%	82.80%
	—	27.40%	34.50%	—	—	—
	31.79%	9.60%	56.90%	58.00%	17.40%	—
	18.08%	1.90%	44.10%	162.40%	-50.60%	—
	—	12.26	-4.61	—	—	—
	—	0.56	0.68	—	—	—
	—	0.01	0.01	—	—	—
	—	-11.99	-1.08	—	—	—
	—	191.5	151.2	—	—	—
Balance sheet
	—	132.84	107.73	—	—	—
	—	64.56	35.12	—	—	—
	—	13.14	2.23	—	—	—
	—	15.65	7.62	—	—	—
	—	15.46	11.85	—	—	—
	—	—	12.45	—	—	—
	—	56.83	58.65	—	—	—
	—	5.83	1.26	—	—	—
	—	15.72	13.28	—	—	—
	—	1.15	1.15	—	—	—
	—	0.00	0.00	—	—	—
	—	1.15	1.15	—	—	—
	—	111.63	88.28	—	—	—
Cash flow
	—	13.32	15.88	—	—	—
	—	-1.48	-13.26	—	—	—
	—	-0.93	-1.08	—	—	—
	—	1.06	20.49	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +39.55%
Sales CAGR 5Y: —
Profit CAGR 3Y: +56.76%
Profit CAGR 5Y: —
Sales YoY (TTM): +31.79%
Profit YoY (TTM): +18.08%

Consolidated

Sales CAGR 3Y: +39.52%
Sales CAGR 5Y: —
Profit CAGR 3Y: +54.66%
Profit CAGR 5Y: —
Sales YoY (TTM): +31.79%
Profit YoY (TTM): +18.31%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 73.35%

Quarter	September 2026	June 2026
Promoter %	73.35%	73.35%

Holder	Type	Holding	Previous	Change
ECORECO VENTURES PRIVATE LIMITED	Promoter Group	52.19%	52.19%	0.00%
BRIJKISHOR KISHANGOPAL SONI	Promoter	13.91%	13.91%	0.00%
ARUNA BRIJKISHOR SONI	Promoter	6.03%	6.03%	0.00%
NIPPON MAGNETIC DRESSING COMPANY LIMITED	Public	4.56%	4.56%	0.00%
BRIJKISHORE SONI HUF	Promoter	1.22%	1.22%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
SFC Environmental Technologies Ltd	3,984	406.75	—	—	—	—	—
Refex Industries Limited	3,051	222.30	11.63	21.00%	+47.93% TTM	+69.81% TTM	-40.68%
EMS LIMITED	1,689	304.15	24.61	12.10%	-33.85% TTM	-62.95% TTM	-39.52%
Antony Waste Handling Cell Limited	871	306.80	12.52	11.50%	+11.83% TTM	-32.02% TTM	-40.65%
Eco Recycling Limited	777	402.75	32.44	26.70%	+31.79% TTM	+18.31% TTM	-32.59%
Concord Enviro Systems Limited	466	225.05	-29.68	7.80%	-1.19% TTM	-133.28% TTM	-52.73%
VVIP Infratech Limited	397	159.00	—	16.90%	—	—	+4.95%
ORGANIC RECYCLING SYSTEMS LIMITED	342	219.25	—	16.00%	—	—	+31.52%
RACE ECO CHAIN LIMITED	181	105.00	22.89	19.70%	+4.43% TTM	+2.06% TTM	-50.08%
GEM Enviro Management Limited	86	38.22	—	12.20%	—	—	-29.22%
EP BIOCOMPOSITES LIMITED S	15	88.00	10.15	16.30%	—	—	-31.25%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

we have enclosed financial result (Standalone and consolidated) for the quarter and half year ended, September 30, 20264 Nov 2026 · Result / Financial Results
we have enclosed the outcome of Board Meeting held on November 04, 2026.4 Nov 2026 · Board Meeting / Outcome of Board Meeting
We have enclosed the intimation of incorporation of Joint venture i.e. ERI India Private Limited.28 Oct 2026 · Company Update / Restructuring
We have enclosed disclosure regarding Incorporation of Joint Venture i.e. ERI India Private Limited.28 Oct 2026 · Company Update / General
We have enclosed disclosure regarding Incorporation of Joint Venture i.e. ERI India Private Limited.28 Oct 2026 · Company Update / General
The Board Meeting to be held on 03/11/2026 has been revised to 04/11/2026 The Board Meeting to be held on 03/11/2026 has been revised to 04/11/202628 Oct 2026 · Company Update / Board Meeting Rescheduled
Eco Recycling Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve We have enclosed prior intimation ....27 Oct 2026 · Board Meeting / Board Meeting
we have enclosed the press release.19 Oct 2026 · Company Update / Press Release / Media Release
We have enclosed certificates under Regulation 74(5) of SEBI(DP) Regulations, 201813 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
we have enclosed the e-voting Results and Scrutinizer Reports of 32nd AGM.29 Sep 2026 · AGM/EGM / AGM
we have enclosed Voting Result together with Scrutinizer Reports of 32nd Annual General Meeting29 Sep 2026 · AGM/EGM / AGM
We have enclosed the Chairman Speech of 32nd AGM held today through VC/OAVM of Eco Recycling Limited ("Ecoreco").28 Sep 2026 · AGM/EGM / AGM
Pursuant to Regulation 30 to be read with Regulation 24A of SEBI Listing Regulations we have enclosed the intimation of Appointment of Secretarial Auditor of the Company.28 Sep 2026 · Company Update / General
We have enclosed the Proceeding of 32nd Annual General Meeting held today through Video conferencing and other Audio-Visual Means (VC/OAVM).28 Sep 2026 · AGM/EGM / AGM
we have enclosed the intimation of Closure of Trading Window pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.21 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
We have enclosed the Communication to Shareholders for Tax Deduction at Source (TDS) etc. on Dividend for FY 2025-269 Sep 2026 · Company Update / General
We have enclosed Intimation of Record date i.e. Friday, September 18, 2026, for the purpose of final dividend if approved by Shareholders in ensuing 32nd AGM.4 Sep 2026 · Corp. Action / Record Date
we have enclosed copies of newspaper published as on September 03, 2026, w.r.t. Notice of 32nd AGM, Record Date, E-voting Instructions3 Sep 2026 · Company Update / Newspaper Publication
we have enclosed the Annual Report as required under Regulation 34(1) of SEBI (LODR) Regulations, 2015 (SEBI Listing Regulations).2 Sep 2026 · Others / Reg. 34 (1) Annual Report
we have enclosed the newspaper publication w.r.t. 32 Annual General meeting.2 Sep 2026 · Company Update / Newspaper Publication
We have enclosed the public annoucement made in tokyo, Japan, regarding Proposed establishment "ERI India" a Strategic Partnership between ERI (USA) and Ecoreco (India) .31 Aug 2026 · Company Update / General
we have enclosed Notice of 32nd Annual General Meeting (AGM) together with Integrated Annual Report for FY 2025-26.27 Aug 2026 · AGM/EGM / AGM
we have enclosed the business updates.13 Aug 2026 · Company Update / General
we have enclosed the intimation of Nomination of Nodal Officer.11 Aug 2026 · Company Update / General
We have enclosed the newspaper publication of extract of financial results and relevant QR Code for quarter ended June 30, 2026.11 Aug 2026 · Company Update / Newspaper Publication
The Board has Approved the Dividend of Rs. 1.00 (10% of Face Value) on each equity share. we have enclosed the outcome of board Meeting dated August 10, 202610 Aug 2026 · Corp Action / Dividend/AGM
We have enclosed Inter alia, including results for the quarter ended June 30, 202610 Aug 2026 · Result / Financial Results
Board of Director in its meeting held today i.e. August 10, 2026, has approved the appointment of Internal Auditor for FY 2026-27.10 Aug 2026 · Company Update / General
We have enclosed the outcome of the Board Meeting dated August 10, 2026, inter alia, including financial results with a limited review report thereon.10 Aug 2026 · Result / Financial Results
Eco Recycling Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/08/2026 ,inter alia, to consider and approve we have enclosed the Intimation ....4 Aug 2026 · Board Meeting / Board Meeting
1. Strategic Corporate Alliance (JV): To consider and approve the proposal for the formation of a 50:50 Joint Venture Company in India with Electronic Recyclers International, Inc. (ERI), ....20 Jul 2026 · Board Meeting / Outcome of Board Meeting
we have enclosed the certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018.14 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Eco Recycling Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 20/07/2026 ,inter alia, to consider and approve we wish to inform you that the ....13 Jul 2026 · Board Meeting / Board Meeting
We hereby inform you that Internal Auditor of the company has resigned w.e.f. June 30, 2026, due to pre-occupation in other professional commitment.30 Jun 2026 · Company Update / Cessation
we have enclosed the disclosure under SEBI (PIT) Regulation 201529 Jun 2026 · Company Update / General
We have enclosed the addendum to the business updated dated May 05, 2026.25 Jun 2026 · Company Update / General
We wish to inform you that the Board of Director of M/s Eco Recycling Limited ("Company") vide its resolution passed by circulation today i.e. June 22, 2026 has considered and approved ....22 Jun 2026 · Company Update / Allotment of Equity Shares
The Notice is hereby given that The Trading Window for dealing in securities of the company will remain closed w.e.f. Wednesday, July 1, 2026 till the end of 48 hours after declaration ....19 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
we have enclosed the copy of in-principal approval granted by BSE Limited together with required annexure.9 Jun 2026 · Company Update / General
Pursuant to Regulation 24A (2) of SEBI (LODR) Regulation, 2015 read with relevant circulars, we have enclosed the Annual Secretarial Compliance Report.30 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 1.0000	18 Sep 2026	18 Sep 2026	—

Board meetings

4 Nov 2026 Board Meeting - Financial Results
10 Aug 2026 Board Meeting - Financial Results