Company Overview

Hi-Green Carbon Ltd, originally incorporated in 2011 as Shantol Green Hydrocarbons (India) Private Limited, is a pioneering company in the waste tyre recycling industry, operating as part of the Radhe Group of Energy. The company underwent several name changes before being converted to a public limited company as Hi-Green Carbon Limited in March 2023. Headquartered in Rajkot, Gujarat, the company is strategically positioned in India's industrial landscape.

The company is an ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 certified waste tyre recycling processor that deals in Recovered Carbon Black (RCB), Steel Wires, Fuel Oil, and Synthesis Gas, which are produced from the pyrolysis process on end-of-life tyres (ELTs). It further processes synthesis gas to manufacture sodium silicate (raw glass).

Business Operations and Manufacturing Excellence

Hi-Green Carbon operates one of the world's largest patented 100 TPD continuous processing plants at Bhilwara, Rajasthan, which has been operational for the last 10 years. The plant in Rajasthan has the capacity to recycle 100 MT of waste tyres per day. The company is also planning to establish another manufacturing plant with similar capacity in the Dhule district of Maharashtra.

The company's manufacturing process is highly advanced and efficient. The continuous pyrolysis process is an uninterrupted working method with a continuous feeding and discharging system controlled by a program logic controller system, making it fully automatic and requiring almost no human intervention. The manufacturing facility is strategically situated in the industrial district of Bhilwara, Rajasthan, positioned within a 100 km radius of National Highway No 79 and connected to National Highway 8.

Product Portfolio and Revenue Streams

Hi-Green Carbon's core business revolves around converting waste tyres into valuable products through sustainable processes. The major products include Recovered Carbon Black (rCB) and Steel Wires under the Raw Material category, and Fuel Oil and Synthesis Gas under the Energy components category. To utilize energy efficiently, the company uses the synthesis gas, produced as a by-product of the pyrolysis process, for manufacturing sodium silicate, commonly known as raw glass.

The company produces Hi-Green Carbon (Recovered Carbon Black) from high-quality crumb rubber using a combination of thermal and mechanical operations for cracking long chains of polymers into small fractions, utilizing chemical accelerators. This process yields a highly refined product equivalent to the standards of carbon black produced traditionally from heavy oil feedstock.

Market Position and Financial Performance

As of July 15, 2025, Hi-Green Carbon Ltd's market capitalization stood at ₹484.81 Cr. As per Value Research classification, it is a Small Cap company. The P/E (price-to-earnings) ratio of Hi-Green Carbon Ltd is 52.18, while the P/B (price-to-book) ratio is 7.69.

The company has demonstrated strong financial performance in recent years. Hi-Green Carbon reported audited FY25 standalone and consolidated financial results with a profit of Rs 1,112.91 lakhs on May 27, 2025. The TTM (Trailing Twelve Months) profit after tax of Hi-Green Carbon Ltd was ₹10 Cr.

Key Financial Metrics

- FY2025 Performance: Profit of Rs 1,112.91 lakhs (audited standalone & consolidated)

- TTM Profit: ₹10 Cr

- Revenue: ₹88.4 Cr

- Profit: ₹10.6 Cr _(Note: This appears to be a consolidated profit figure, slightly different from the TTM profit reported)_

- ROCE (Return on Capital Employed): 13.9%

- ROE (Return on Equity): 13.1%

- Promoter Holding: 71.9%

Leadership and Management

The chairman of the company is Shaileshkumar Vallabhdas Makadia, and the managing director is Amitkumar Hasmukhrai Bhalodi. There is no promoter pledging in Hi-Green Carbon Ltd, indicating strong promoter commitment to the company's growth.

Stock Performance and Trading Details

The 52-week high of Hi-Green Carbon Ltd share price is Rs. 340.90, while the 52-week low is Rs. 165.00. The company trades on both BSE (Code: 91663) and NSE (Symbol: HIGREEN) with ISIN code INE0PIC01017.

Industry Position and Certifications

Hi-Green Carbon Limited holds certifications for Environmental Management (ISO 14001:2015), Occupational Health and Safety Management (ISO 45001:2018), and Quality Management (ISO 9001:2015). The company also adheres to Good Manufacturing Practice (GMP) and RoHS standards. These certifications underscore the company's commitment to quality, safety, and environmental sustainability.

The company's tire recycling process yields two fundamental products: fuel (fuel oil) and recovered carbon black, which enjoy sustained demand across various applications, including energy production, manufacturing of plastics, toner, tires, and rubber products.

Hi-Green Carbon represents a compelling investment opportunity in the sustainable waste management sector, combining environmental benefits with strong business fundamentals and growth potential in India's expanding circular economy landscape.