The growth is largely driven by the widespread demand for recycled metal across the country, especially from sectors such as Automotive, Power, Home furnishing, and Roads & Transport.
Nupur Recyclers Private Limited., the metal scrap processing and recycling in India, has clocked over 169.82% growth in revenue in H1 FY 2021-22 over H1 FY 2020-21, with gross revenue of approximately INR. 83 Cr. The growth is largely driven by the widespread demand for recycled metal across the country, especially from sectors such as Automotive, Power, Home furnishing, and Roads & Transport.
The demand is efficiently met by the company’s strong partnerships with ferrous and non-ferrous metal scrap suppliers from various countries from Europe and the Gulf region from where it imports substances such as shredded Zinc Scrap, Zinc die-cast scrap, Zurik SS scrap, and Aluminium Zorba grades. In the ever-growing market for scrap metal recycling, Nupur Recyclers has been clocking steady growth since its inception.
Commenting on the same, Mr. Rajesh Gupta, Serial Entrepreneur & Founder, Nupur Recyclers, said, “We are thrilled to contribute towards the creation of economic wealth through our exciting venture. Despite the fact that India is the world’s second-largest producer of steel, the majority of steel and other metals produced in the country are made from ore mined from the ground. This presents a big opportunity for businesses like ours to fulfill the ever-increasing demand by delivering recycled metal, which is not only more cost-effective but also has enormous environmental benefits. We, at Nupur Recyclers, are marching ahead to realize this industry’s full potential.”
As per industry estimates, metal scrap is worth $500 billion globally, which is more than twice as much as the Indian IT industry. Despite that, India’s share of this is only $11 billion, or 2.2 per cent currently. Indian leaders must examine the metal scrap industry because when the opportunities it presents are exploited wisely; it will create considerable wealth for the country. Companies like Nupur Recyclers have fast emerged as the pioneers in the industry who are organising the highly unorganised market and are effectively capitalising on the untapped business opportunity.
Source: Business World