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Horizon Reclaim (India) Ltd (544794)

📊 BSE: 544794 🏢 Rubber 📢 Latest filing: 13 Aug 2026

📢 Recent Corporate Announcements

Horizon Reclaim (India) Ltd Submits IPO Proceeds Utilization Report for Q1 FY27

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 13 Aug 2026, 08:03 PM

Horizon Reclaim (India) Ltd has filed its quarterly statement regarding the utilization of Initial Public Offering (IPO) proceeds for the quarter ended June 30, 2026. The report, which is a mandatory requirement under SEBI (LODR) and (ICDR) regulations, was reviewed by the Audit Committee and the Board of Directors on August 13, 2026. CRISIL Ratings Limited served as the independent monitoring agency for this review. This filing ensures transparency regarding how the capital raised from the public is being deployed.

Statement covers the utilization of IPO proceeds for the quarter ended June 30, 2026
CRISIL Ratings Limited acted as the independent Monitoring Agency for the fund tracking
The Audit Committee and Board of Directors reviewed and approved the statement on August 13, 2026
Filing complies with Regulation 32 of SEBI (LODR) and Regulation 262 of SEBI (ICDR)

💡 Investors should review the full monitoring agency report when available to ensure funds are being deployed toward the specific objects (e.g., capex or working capital) mentioned in the IPO prospectus.

Horizon Reclaim Reviews IPO Fund Utilization and Appoints Internal Auditor for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 13 Aug 2026, 06:18 PM

Horizon Reclaim (India) Ltd conducted a board meeting on August 13, 2026, primarily focusing on post-IPO compliance and administrative appointments. The board reviewed the CRISIL Monitoring Agency Report and the Statement of Deviation regarding IPO proceeds for the quarter ended June 30, 2026. Key appointments include M/s. HDK & Company as Internal Auditor for FY 2026-27 and EquiBridgeX Advisors for Investor Relations. These steps are standard for a recently listed entity to ensure governance and market communication.

Board reviewed the Monitoring Agency Report from CRISIL for the quarter ended June 30, 2026
Statement of Deviation/Variation in IPO proceeds utilization was taken on record
M/s. HDK & Company appointed as Internal Auditor for the financial year 2026-27
EquiBridgeX Advisors Private Limited appointed as Investor Relations & PR Agency
Board meeting concluded within 45 minutes, starting at 04:30 PM and ending at 05:15 PM

💡 Investors should review the detailed 'Statement of Deviation' once published to verify if IPO funds are being utilized exactly as per the prospectus or if there are delays in project execution.

515% Capacity Expansion to 86,800 MTPA and Unit II Commissioning

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 04 Aug 2026, 03:59 PM

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.

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

💡 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

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 03 Aug 2026, 11:27 AM

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.

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

💡 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.

Horizon Reclaim Appoints EquiBridgeX Advisors as Investor and PR Agency

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jul 2026, 04:27 PM

Horizon Reclaim (India) Ltd has appointed EquiBridgeX Advisors Private Limited as its Investor and Public Relations (PR) agency effective July 28, 2026. This is a standard administrative move to manage corporate communications and investor engagement. The announcement was made on July 29, 2026, in compliance with SEBI (LODR) Regulations. There is no direct financial impact from this appointment, though it may lead to better market visibility.