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Global Waste Recyclers Limited on expansion mode

GWR - Press Confernce_06.01.2015

6th Jan, 2015, Chennai: The Chennai based Global Waste Recyclers Ltd. are eyeing a huge opportunity in generating wealth from waste. Global Waste Recyclers Ltd (GWRL) has been in the business of collection and recycling of waste paper in this part of the country for more than five decades. GWRL is the only organised player in this line of business from south India.

GWRL plans to expand and diversify its operations to encash the enormous opportunities available in this trade. Addressing the media, Mr. Bharat Pujara, Managing Director, Global Waste Recyclers Ltd. said, waste paper is an important raw material source for the paper industry. Proper and effective recycling will help in lowering imports and also help the environment by reducing solid waste. He said that GWRL had witnessed an average growth rate of 25% on year-on-year basis in the past five years.

Pujara added that the present recovery and utilisation of the waste paper mills in India is 3.0 Million tonnes annually, which translates to a recovery of 20% of the total paper and paperboard consumed. This recovery rate is very low when compared to developed countries like Germany – 73%, Sweden -69%, Japan – 60%, Western Europe – 56%, USA – 49% and Italy – 45%.

Due to inadequate availability of indigenous waste paper, Indian mills rely heavily on imported waste paper to meet the raw material demand. The import bill has increased significantly over the years. According to an estimate, the import of waste paper has increased from 5.1 million USD to one billion USD in recent times. Indian paper industry imports around 4.0 million tonnes of waste paper annually which is about 57% of its raw material requirements.

The current scenario in India is that only 20% of the waste paper is collected and the rest is going for landfill. Out of this, 90% of waste paper collection is carried out by “Informal Sector” i.e. rag pickers (Kabariwalas) and local hawkers.

The capacity expansion and diversification involves capital investment in machinery, infrastructure, storage space as well as working capital. To fund this expansion and diversification the Company is exploring different options for a financial closure, including a possible public issue.

Mr. Umesh Pujara, Director, Global Waste Recyclers Ltd. explaining the methodology of the business said, in Chennai alone, the company has a direct and indirect vendor base of more than 200 numbers. Besides, it also provides employment opportunities to thousands of hawkers and rag-pickers engaged in source collection of waste paper.

The operational system is-Waste paper is generated from households, commercial establishments, offices, printing press, publishing houses and paper converters-collected by rag pickers, hawkers, middle level traders and passed on to us-packing and baling done in our two baling plants with our automated machines-stacked and despatched to customers as per orders.

The company closed the fiscal of 2013 – 14 with revenues of Rs. 43 crore.

With the expansion and diversification in place, Global Recyclers Ltd. expects to achieve rapid growth in future.

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