SYNOPSIS: A recycling company plans to set up a hydrometallurgy plant in Haryana to recover critical battery metals, advancing end-to-end recycling capabilities and aligning with India’s mission to strengthen domestic supply chains and reduce import dependence.
During Wednesday’s trading session, shares of a company involved in offering services for the collection, disposal, and recycling of e-waste surged around 11 percent on NSE, after the company announced plans of setting up a hydrometallurgy plant for critical EV battery metals.
With a market cap of Rs. 410 crores, shares of Namo eWaste Management Limited are currently trading in the green at Rs. 179.45 on NSE, up by over 7 percent, compared to its previous closing price of Rs. 166.95. The stock has delivered positive returns of around 8 percent in one year, and has gained by more than 16 percent in the last one month.
What’s the News:
According to the latest exchange disclosures on NSE, Namo eWaste Management Limited highlighted that, following the successful commissioning of its Nashik plant in FY25-26, the company is now advancing to the next phase of growth to capitalise on opportunities in the electric vehicle (EV) and battery recycling space. The Nashik facility processes lithium-ion batteries up to black mass and enables recovery of base metals such as copper, ferrous, and aluminium.
Building on this progress, the company has announced plans to set up a new hydrometallurgy plant in Faridabad, Haryana. This facility will process black mass further and enable in-house recovery of critical battery metals, including lithium, nickel, cobalt, and manganese. The expansion represents a significant step toward establishing a fully integrated, end-to-end recycling ecosystem, along with the generation of Extended Producer Responsibility (EPR) credits. The plant is expected to become operational by December 2026.
The proposed expansion aligns with the Government of India’s National Critical Mineral Mission, aimed at strengthening domestic supply chains and reducing reliance on imports of key battery materials.
Financials & More:
Namo eWaste Management Limited is engaged in the business of e-waste management, battery waste management and recycling of metal scrap. It sources material through B2B (producers, manufacturers, bulk consumers), e-waste aggregators & B2C (collection drive & awareness campaigns).
The company has a current recycling capacity of over 42,900 MTPA, and operates through a network of more than 26 collection centres, supported by 4 existing recycling plants, along with one additional recycling facility currently in the pipeline. Namo eWaste is also undertaking a significant capacity expansion, with an additional 25,000 MTPA planned, which is expected to increase its total recycling capacity to over 72,900 MTPA by Q4 FY26.
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 30 percent, from Rs. 67 crores in H1 FY25 to Rs. 87 crores in H1 FY26. Likewise, its net profit increased during the same period from Rs. 5 crores to Rs. 7 crores, representing a rise of around 40 percent YoY.
During H1 FY26, Namo E-Waste commissioned its 12,400 MTPA lithium-ion battery recycling and refurbishing facility in Nashik in July 2025, funded entirely through IPO proceeds, and has already achieved near full capacity utilisation. Supported by strong capacity expansion, operational efficiency, and growing investor confidence, the company is targeting a 45-50 percent CAGR over the next three years, driven by scalable and ESG-aligned growth initiatives.
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