Hulladek Recycling expects 60% growth backed by penetration into newer geographies

Hulladek Recycling Pvt Ltd, a city-based e-waste management company, is expecting close to 60 per cent growth in business during FY23 backed by penetration into newer geographies and addition of more items and categories under e-waste management rules. The company is looking to recycle close to 4000 tonnes of e-waste by March 2023, up from 2500 tonnes last year.

According to Nandan Mall, Founder and CMD, Hulladek Recycling, as per the new e-waste management rules that was published in November 2022, there will be seven categories instead of two and 106 items instead of the existing 21 items that will fall under the e-waste management rules. The rule, which will be effective from April 2023, will be applicable to every manufacturer, producer refurbisher, dismantler, and recycler involved in manufacture, sale, transfer, purchase, refurbishing, dismantling, recycling, and processing of e-waste or electrical and electronic equipment. This is likely to further enhance the scope of business and lead to good growth for the company.

The company, which works with corporates, such as Coca-Cola, Pepsi Co., and Nestle India and also with Kolkata Municipal Corporation and HIDCO at present, aims to recycle close to 50,000 tonnes of e-waste by 2030.

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“During the first seven years, e-waste was identified under two categories, including 21 items, now that has increased to seven categories and 106 items. It is quite significant and will cover solar panels, cold storage and biomedical equipment and much more. So the scope has expanded and brands manufacturing these items have to comply with the rules. With the increase in scope of business, we expect a good growth coming in,” Mall told businessline.  

Hulladek currently provides services that include the collection of e-waste from households and corporates, extended Producers’ Responsibility (e-waste and plastic), and data destruction services. It has also ventured into plastic waste management in association with LYNQ and will be providing EPR services to producers of plastic. The company currently has presence in 13 states and 17 cities across the country. Plans are afoot to expand to all states and union territories by onboarding franchisee partners to expand the business further.

Increase in scope of business

As per E-waste Management Rules, 2018, there were only two categories, including information technology and customer electronics and electricals, including 21 items. However, the categories have been redefined and increased to seven categories, including IT and telecommunication equipment, consumer electricals and electronics, large and small electrical and electronic equipment, electrical and electronic tools, toys, leisure and sports equipment, and medical devices and laboratory instruments. The number of items has been increased from 21 to 106 items under the above-mentioned categories.

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Earlier with 21 items falling under the E-waste Management Rules, there were only 2500 producers (manufacturers, importers, and brand owners) who had to fulfil their compliance of Extended Producers Responsibility. However, with the increase in items, the estimated number of producers is said to increase by nearly 100 times this year, increasing the scope of the industry.

Solar panels have also been included under e-waste. No target has been allocated for manufacturers. However, all producers of solar panels have to be registered under the CPCB. Environmental compensation has been introduced in the form of a penalty for those producers who are not fulfilling their targets as defined by the rules.

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