Eco recycling Limited has provided a business update to stakeholders regarding the enhanced prospects for e-waste and lithium-ion battery recycling in India, following the release of the NITI Aayog report on Advancing Circular Economy of E-waste and Lithium-Ion Batteries. The company filed this update under Regulation 30 on January 28, 2026.

Industry Outlook and Policy Framework

The NITI Aayog report highlights India's exponential rise in e-waste and battery waste streams, driven by rapid digitalization, electrification, and adoption of energy storage technologies. The government think tank's roadmap emphasizes formalizing e-waste recycling systems, expanding material recovery efficiencies, and integrating critical mineral recycling into circular economy frameworks as national priorities aligned with India's Net Zero 2070 and Viksit Bharat 2047 goals.

Market Opportunity and Economic Potential

According to the NITI Aayog report, India's current e-waste flows are valued at an estimated ₹51,000 crore annually, representing a substantial opportunity for the formal recycling sector to capture previously untapped value. This economic potential underscores the significant prospects for companies operating in the formal recycling space.

Company Positioning and Capacity

Eco Recycling Limited operates with expanded recycling operations in Maharashtra, maintaining a total processing capacity of 31,200 metric tonnes per annum (MTPA) for e-waste and lithium-ion batteries. The company's strategic positioning enables it to support the national circular economy agenda and meet growing compliance and resource recovery needs of producers under current regulations.

Management Commentary

B K Soni, Chairman & Managing Director of Eco Recycling Limited, commented on the industry outlook: "We welcome the NITI Aayog's circular economy framework, which reinforces the critical role of formal recycling in converting waste into strategic resources. The prospects for e-waste and Li-ion battery recycling are now even brighter than previously estimated, driven by supportive policy focus, rising demand for sustainable material streams, and the accelerated transition towards electrification and digital infrastructure."

Strategic Focus Areas

The company remains committed to several key operational areas:

• Environmentally responsible recycling practices
• Enhanced material recovery efficiencies
• EPR obligation support for stakeholders
• Investment in state-of-the-art processing capabilities
• Scalable solutions development

Eco Recycling continues to serve manufacturers, brand owners, and institutional partners while investing in processing capabilities that contribute to a cleaner, circular, and resource-efficient future. The company's e-waste recycling facility is registered with CPCB & MPCB and maintains R2:2013 Responsible Recycling certification.

Eco Recycling Limited has announced that its Qualified Institutional Placement (QIP) special resolution has expired, rendering all related offers and agreements null and void. The development was communicated to BSE Limited on January 21, 2026, in compliance with regulatory requirements.

QIP Resolution Details

The company had approved the QIP proposal through a special resolution dated January 22, 2025, via postal ballot. This resolution was subject to a statutory validity period of 365 days under applicable SEBI regulations.

Regulatory Compliance and Impact

The announcement was made pursuant to the Companies Act, 2013, and applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Since the special resolution has become time-barred by law, all ancillary QIP offers, proposals, and agreements entered into with parties now stand null and void.

Corporate Communication

The notification was signed by B K Soni, Managing Director (DIN 01274250), and digitally submitted to BSE Limited on January 21, 2026. The company has requested the stock exchange to take this information on record as part of its disclosure obligations.

This development effectively closes the QIP window that was available to the company for the past year, requiring fresh approvals should the company wish to pursue qualified institutional placement in the future.