Roorkee headquartered Attero posted a revenue of Rs 288.86 crore in the fiscal year ending March 2023, a 35% increase as compared to Rs 213.84 crore in FY22. Over 99% of this revenue came in from its operations.
Founded in 2008, Attero is an environmentally focused company that specializes in recycling and upcycling services for electronic waste and biowaste. It uses patented technology to recycle e-waste, including dismantling and extracting precious metals from electronic devices and lithium-ion batteries.
Its services also encompass recycling solutions, EPR compliance, data security, reverse logistics, and carbon footprint reduction.
However, with this growth, Attero’s expenses also surged reaching Rs 281.19 crore in FY23, a nearly 70% spike from Rs 165.96 crore in FY22. While the cost of materials accounted for more than 83%, employee benefit costs stood at 4%, and legal & professional charges at 2%.
The Nitin Gupta-founded firm has raised a total of Rs 202.15 crore over the years. NEA-Indo US Venture remains the largest shareholder, with DFJ Mauritius Inc. and GHIOF Inc. also holding substantial stakes.
Despite the rise in revenue, the company faced a 47% drop in profits to Rs 20.93 crore in FY23 as compared to Rs 39.96 Cr in FY22. Its current EBITDA margin stands at 5.99% and ROCE is at 7.71%.