Attero expects MetalMandi to reach Rs 10,000 cr turnover in 5 yrs

New Delhi, Apr 7 (PTI) E-waste recycling firm Attero expects a five-fold growth in business of its online metal scrap trading platform MetalMandi and hit a turnover of Rs 10,000 crore in the next five years, a top official of the organisation said on Tuesday.

Attero Co-Founder and CEO Nitin Gupta said MetalMandi has over 1.1 lakh registered users, more than 50,000 monthly active users, and around 4,000 daily active users, with participation spanning more than 28 states covering over 10,000 cities.

“MetalMandi contributed about Rs 1,000 crore in our consolidated revenue of Rs 1,500 crore in the last fiscal year. We are targeting a revenue of Rs 10,000 crore over the next 5 years,” Gupta said.

He said India is a net importer of almost every critical

metal, from copper and aluminium to battery materials and rare earths, even though large volumes of scrap are generated domestically.

“We are picking up around 15,000 tonnes of scrap every month, roughly translating to 2 lakh tonnes of scrap every year. We are increasing this to roughly around 5 times in the next five years,” Gupta said.

Activity on the platform is seeing strong traction across key industrial hubs, with Delhi-NCR, Chennai, Mumbai, Pune, and Hyderabad emerging major centres of participation, he added. PTI PRS TRB