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Latest filing: 2026-08-04 15:59
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Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
2 announcements match the current filters (relevance ≥ 5).
515% Capacity Expansion to 86,800 MTPA and Unit II Commissioning
Horizon Reclaim is executing a massive capacity expansion from 14,100 MTPA to 86,800 MTPA, representing a 6x increase in production potential. The company successfully commissioned its Rajkot facility (Unit II) in July 2026, with the first commercial sale recorded on July 20, 2026. This follows a successful BSE SME listing in June 2026 which raised ₹54.27 crore. With Unit I operating at 90% capacity utilization in FY26, the expansion is critical to meeting demand and scaling the business beyond its current regional footprint.
Confidence: HIGH
What changedThe company has transitioned from a single-unit operator to a multi-unit manufacturer, significantly increasing its total capacity and geographic presence.
Why it mattersThe 515% capacity jump fundamentally changes the company's revenue ceiling and allows it to target larger B2B customers in the automotive and industrial sectors across Western and Central India.
Expanded Capacity: 86,800 MTPAOngoing Capex: ₹9.43 crIPO Fundraise: ₹54.27 crFY26 Net Worth: ₹24.83 crMarket Cap: ₹280.05 cr
📅 Short termPositive sentiment is expected following the successful commissioning of Unit II and the start of commercial sales in July 2026.
📈 Long termThe structural shift from 14k to 86k MTPA capacity positions the company for significant long-term growth, provided it can maintain its 49% repeat customer rate at a larger scale.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk for Unit III completion
- Significant increase in long-term borrowings (₹17.97 cr vs ₹0.55 cr YoY)
- Raw material sourcing pressure for 6x higher volumes
Key Highlights
Total capacity set to increase from 14,100 MTPA to 86,800 MTPA upon full commissioning
Unit II in Rajkot commissioned in July 2026 with commercial sales already commenced
Ongoing capex of ₹9.43 crore for the installation of plant and machinery at Unit III in Haridwar
Raised ₹54.27 crore through IPO in June 2026 at a 46.6% premium over the issue price
Capacity utilization at Unit I reached 90% in FY26, up from 37.93% in FY24
👀 What to Watch
Monitor the ramp-up timeline for the newly commissioned Rajkot facility and the completion of Unit III in Haridwar. Investors should watch for the impact of increased interest costs on margins, as long-term borrowings rose to ₹17.97 crore in FY26.
86,800 MTPA Capacity Target: Horizon Reclaim Commissions Rajkot Facility and Repays ₹26.70 Cr Debt
Horizon Reclaim (India) Ltd has successfully commissioned its Rajkot (Unit II) Pyrolysis Oil facility, recording its first commercial sale on July 20, 2026. The company is targeting a massive capacity increase from 14,100 MTPA to 86,800 MTPA upon full commissioning of ongoing projects. Financial health has significantly improved through the repayment of ₹26.70 Crores in debt, while Capital Work in Progress (CWIP) surged to ₹36.20 Crores in FY26. The company is also deploying ₹9.43 Crores from IPO proceeds into plant and machinery to fuel this growth.
Confidence: HIGH
What changedThe company has transitioned from a development phase to commercial operations at its Rajkot facility and significantly deleveraged its balance sheet post-listing.
Why it mattersThe expansion into Pyrolysis Oil and the massive planned capacity increase represent a structural shift in the company's scale and revenue diversification into the waste-to-energy segment.
Current Capacity: 14,100 MTPATarget Capacity: 86,800 MTPARajkot Unit Capacity: 36,000 MTPADebt Repayment: ₹26.70 CroresCWIP (FY26): ₹36.20 CroresIPO Proceeds for P&M: ₹9.43 Crores
📅 Short termThe commencement of commercial sales at the new facility and debt reduction are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe 6x capacity expansion and entry into the circular economy/waste-to-energy market provide a strong foundation for long-term revenue growth.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk for the remaining expansion projects
- Market price volatility for Pyrolysis Oil and Carbon Char
Key Highlights
Targeting a 515% increase in total installed capacity from 14,100 MTPA to 86,800 MTPA
Commissioned 36,000 MTPA Rajkot facility for Pyrolysis Oil with first sales starting July 20, 2026
Repaid/prepaid borrowings totaling ₹26.70 Crores to reduce finance costs
CWIP increased more than 10x from ₹355.59 Lakhs in FY25 to ₹3,619.54 Lakhs in FY26
Allocated ₹9.43 Crores from IPO proceeds specifically for investment in plant and machinery
👀 What to Watch
Investors should monitor the production ramp-up at the Rajkot facility and the execution timeline for the remaining capacity expansion to reach the 86,800 MTPA target.
