business-northeast-logo

Attero to invest Rs 8,000 crore over 5 years

BNE News Desk


Spread the love

New Delhi: Attero, an electronic trash and battery recycling company, expects to invest roughly Rs 8,300 crore over the next five years to increase its capacity, CEO and co-founder Nitin Gupta disclosed recently.

At present, the company has the potential to recycle up to 1,44,000 tonnes of electronic garbage (e-waste) and 15,000 tons of lithium-ion batteries per year. According to Attero's website, the company seeks to "power zero waste world through circular economy."

Gupta further stated that in the next five years, they will be investing roughly around $1 billion overall, including all forms of capital -- debt, equity and other non-diluted forms of capital. He also said that the company is growing 100 percent year-on-year and gradually increasing capacity.  

As per reports, Attero has set a target to cross USD 2 billion, about Rs 16,500 crore revenue by 2027. 

Gupta said “The industry is growing at roughly around 30 per cent per annum. We are growing at more than 100 percent YoY. We had revenue of around Rs 285 crore in the 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," 

He claimed that Attero has a 25 percent market share, which will grow to 35 percent next year, whereas the company's nearest competitor has less than 10 percent in terms of market share.

ALSO READ: AI Innovation: Red Hat CEO highlights India’s market potential

BNE News Desk