From Rs 9 cr to Rs 84.7 cr profit: The lead recycler turning scrap into global growth

India’s growing battery and energy-storage ecosystem is creating a steady demand for recycled lead, giving the recycling industry a more durable opportunity than its green credentials alone suggest. But the more interesting part is whether a recycler can grow without spending heavily on new capacity. One small listed player has increased capacity by 51% for just Rs 15 crore, making its capital efficiency worth a closer look.