India’s recycling sector is gaining momentum as the country pivots toward sustainability and circular economy initiatives. With growing regulatory support, increased environmental awareness, and a rising demand for recycled materials, several Indian companies in this segment are witnessing robust business expansion. Investors are increasingly eyeing these stocks for their growth potential and alignment with eco-friendly practices.
1. Gravita India Ltd
Gravita India Ltd operates primarily in lead and aluminium processing, along with trading in lead products and aluminium scrap. The company also provides turnkey solutions for lead recycling projects.
Its operations include smelting of lead battery scrap and lead concentrate to produce secondary lead, which is further processed into pure lead, specialized alloys, lead oxides, and products such as lead sheets, powder, and shot. Additionally, Gravita is engaged in the production of polyethylene terephthalate (PET) products.
The company is focused on expanding its recycling portfolio with initiatives under Vision 2029, which includes exploring new verticals such as lithium, steel, rubber, and paper. Gravita aims for more than 50 percent of value-added products, over 30 percent of non-lead business, and a reduction of more than 10 percent in energy consumption.
By FY2028, the company plans to increase its recycling capacity to 700,000 MTPA from the current 333,659 MTPA, supported by a capex of over Rs. 1,500 crore. Gravita benefits from a strong international presence across Asia, Africa, the Middle East, Europe, and America, ensuring competitive raw material sourcing. The company has a market cap of Rs. 11,510.43 crore, with its stock trading at a current market price of Rs. 1,559.50.
2. Eco Recycling Ltd
Eco Recycling Ltd is a leading e-waste management company in India, specializing in recycling waste electrical and electronic equipment. Its operations encompass the extraction of valuable materials such as copper, aluminium, silver, and gold from complex electronic scrap.
The company also offers comprehensive reverse logistics, on-site and off-site data destruction services, asset management, and lamp recycling solutions. Eco Recycling serves a wide spectrum of clients, including multinational companies, government departments, educational institutions, and households.
The company has a recycling capacity of 31,200 MTPA and operates as a zero-debt entity. It claims to be the sole BSE-listed company in its segment and has a global footprint across 120-plus countries.
Eco Recycling leverages proven technologies from the US, Europe, and Japan, and recently added 6,000 MTPA of capacity for Li-ion battery recycling. In collaboration with C-MET under MeitY, the company has adopted advanced technology for recovering lithium-ion battery elements such as cobalt, nickel, and manganese domestically, reducing the need to export black mass for processing and enhancing environmental sustainability. Eco Recycling Ltd has a market cap of Rs. 1,121.53 crore, and its shares are currently trading at Rs. 581.20.
3. Antony Waste Handling Cell Ltd
Antony Waste Handling Cell Ltd provides a wide array of waste management solutions in India, including mechanized and non-mechanized sweeping, municipal waste collection and transportation, waste processing and treatment, construction and demolition waste management, and waste-to-energy projects.
The company also offers deep cleaning and pest control services for residential, commercial, and industrial spaces and is involved in the design, construction, operation, and maintenance of integrated waste management facilities.
The company is a leading player in the solid waste management sector, with over 35 completed and ongoing projects. It operates Asia’s largest single-location waste processing plant and has managed 20.36 million metric tonnes of municipal solid waste since the inception of its projects up to June 2025.
Antony Waste’s fleet includes 2,591 vehicles, and the company has generated over 164 million green units. It currently processes around 90 percent of the waste generated in Mumbai. The company has a market cap of Rs. 1,568.68 crore, with its stock currently priced at Rs. 552.70.
4. Ganesha Ecosphere Ltd
Ganesha Ecosphere Ltd specializes in manufacturing and supplying recycled polyester staple fiber (rPET) both in India and internationally. Its offerings include solid, hollow, conjugated, flame retardant, short-cut, micro, and trilobal fibers, along with rPET flakes and chips suitable for bottle-grade and textile/sheet-grade applications.
The company also produces yarns, non-woven fabrics, fiber fillings, and finished products such as t-shirts, body warmers, geo-textiles, carpets, automotive upholstery, pillows, duvets, curtains, furniture coverings, and protective clothing. Its products serve diverse industries including textiles, FMCG, food and beverage, furnishings, and automotive.
The company operates six manufacturing facilities with a total recycling and washing capacity of 196,440 MTPA. Ganesha Ecosphere converts over 150,000 MTPA of PET waste annually and has established a supplier network of 300-plus partners across India. Its client base spans more than 400 customers in over 16 countries. Ganesha Ecosphere Ltd has a market cap of Rs. 3,069.60 crore, and its shares are currently trading at Rs. 1,205.80.
Written By Manan Gangwar
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