Divyadhan Recycling Industries Limited was incorporated as a private limited company with the name of ‘Divyadhan Consultants Private Limited’ under the Companies Act, 1956 vide certificate of incorporation dated May 03, 2010 issued by Registrar of Companies, Mumbai. Further in year, 2023 the name of the company was changed from ‘Divyadhan Consultants Private Limited’ to ‘Divyadhan Recycling Industries Private Limited’, pursuant to which the ROC, Mumbai has issued a Certificate of Incorporation dated November 10, 2023. Subsequently the company was converted into public company namely, Divyadhan Recycling Industries Limited, pursuant to shareholders’ resolution dated December 13, 2023 vide new Certificate of Incorporation dated March 02, 2024.
Divyadhan Recycling Industries is into the business of manufacturing of Recycled Polyester Staple Fibre (R-PSF) and Recycled Pellets. The recycled fibre and pellets are produced from post-consumer PET bottles also known as Polyethylene Terephthalate bottles. The company started its operations in the financial year 2018-19, by manufacturing Recycled Polyester Staple Fibre (R-PSF) at their manufacturing facility based in Baddi, Himachal Pradesh with a capacity of 8030 Metric tons per annum. Further, in November 2023, the company also started manufacturing of Recycled Pellets. However, the company is in the trial stage of manufacturing the recycled pellets.
The promoters of the company acquired the company from initial promoters (subscribers to the memorandum of association) in the year 2013-14, since then till FY 2015 - 2016, the company was looking for better opportunities to acquire land and building, plant and machinery to start its manufacturing facility. In the year 2015 - 16, the company came across and acquired a distressed asset from the Axis Bank under SARFESI Act, 2002 and it took almost 2 years to get all the necessary approvals and sanctions from many departments in such as pollution board, electricity department, fire and water department to get the manufacturing facility operational and commence its production. In the year 2018-19, the company finally started its operations.
The company produces Hollow and Solid Recycled Polyester Staple Fibre, which gives good resilience properties and is used to make premium pillows, cushions and quilts. The recycled fibre is supplied to various industries such as Packaging, home furnishing and Textiles. Its hollow structure adds to its insulating properties, making it suitable for use in a wide range of products including clothing, home furnishings, automotive components, non-woven fabrics, and insulation materials. The recycled pellets are used to manufacture food grade and non-food grade bottles. FSSAI has issued latest instructions dated June 15, 2022, for acceptance criteria for recycled PET for food packaging. Further, the company is currently catering to non-food industries requiring recycled bottles for their packaging.
Business area of the company
The company is engaged in the manufacturing of Recycled Polyester Fiber and Recycled Pellets.
Products of the company
- 6D 102mm Hollow White
- 6D 102mm Pearl Bright
- 1.5D Medium Tenacity
- Micro Fiber
- 7D Hollow Fiber
- 3D Hollow Conjugated
- 15D Hollow Fiber
- 15D Hollow Conjugated
- 3D Non-woven
- 15D Non woven
- 6D Non-woven
- 6D Geotex
- 7D Hollow Conjugated
- Cationic
- 3D Medium Tenacity
History and milestones
- 2010: The company was incorporated by the previous promotors Prakash Padnamabh Pillai & Padmanabh Gopal Pillai in the year 2010 under the name and style Divyadhan Consultants Private Limited under Companies Act, 1956.
- 2013-2014: As on April 14, 2013, the erstwhile promoters sold the company by transferring their 5000 shares each to Pratik Gupta and Ritika Gupta.
- 2015-2016: As on February 22, 2016, Ms. Ritika Gupta sold her 5000 shares constituting 50% of paid-up share capital to Mr. Varun Gupta. Since then both Pratik Gupta and Varun Gupta have been the promoter of the company.
- 2015-2016: In the year 2016, the company acquired a distress asset in accordance with the provisions of SARFESI Act, 2002, the asset includes Factory Land & Building, Plant & Machinery and other movable Assets plant and machinery from Axis Bank.
- 2018-2019: In the year 2018-2019, The company started doing production by manufacturing Recycled Polyester staple Fiber and achieved turnover around Rs 9.6 crore.
- 2023-2024: The company changed its name from ‘Divyadhan Consultants Private Limited’ to ‘Divyadhan Recycling Industries Private Limited’. Thereafter, in December 2023, the company passed special resolution for conversion from Private Limited to Public Limited Company.
- 2023-2024: In March 2024, the Registrar of Company Mumbai, approved conversion of the company from Private Limited to Public Limited and issued fresh certificate of incorporation dated March 02, 2024.