HI GREEN CARBON LIMITED

Hi-Green Carbon Limited was originally incorporated as 'Shantol Green Hydrocarbons (India) Private Limited' as a Private Limited company vide Certificate of Incorporation dated August 29, 2011 at RoC, Gujarat. Subsequently, the name of the Company was changed from 'Shantol Green Hydrocarbons (India) Private Limited' to 'Shantol Green Energy (India) Private Limited', dated November 04, 2011. Later on, to 'Shantol Green (India) Private Limited' dated March 15, 2017 and again to 'Hi-Green Carbon Private Limited', dated September 21, 2022. Further, the status of the Company got converted from a Private Limited to Public Limited and its name was changed to 'Hi-Green Carbon Limited' dated March 21, 2023. The Company was originally formed by Mr. Amitkumar Hasmukhrai Bhalodi, Mrs. Dakshaben Shaileshbhai Makadia, Mrs. Binaben Sandip Makadia and Mr. Rajendra Umedlal Mehta in 2011. Subsequently, M/s. RNG Finlease Private Limited acquired control of the Company, by acquiring Equity Share of the Company during the year 2012 to 2017. Later on, Mr. Amitkumar Hasmukhrai Bhalodi, Dr. Shaileshkumar Vallabhdas Makadia, Mrs. Krupa Chetakumar Dethariya, Mrs. Radhika Amirkumar Bhalodi, Mrs. Shiryakumari Shaileshkumar Makadia, and Mr. Koosh Chetankumar Dethariya acquired a total of 54,00,000 Equity Shares, constituting 28.42% of preissue Paid Up Capital of Company, from M/s. RNG Finlease Private Limited in year 2022. As on date, M/s. RNG Finlease Private Limited is holding 71.58% of pre-issue Paid Up Capital of the Company. Headquartered in Rajkot, Gujarat, Hi-Green Carbon Limited is a part of Radhe Group Energy, based at Rajkot, Gujarat. Radhe Group of Energy, founded by Dr. Shaileshkumar Vallabhdas Makadia, is fast growing private enterprise in the renewable energy sector. The Group's core focus is on Renewable Energy with a diversified balanced portfolio stretching from castings, consumer goods, corporate farming, packaging and herbal products. Manufacturing Facility is located at Industrial Dist., Bhilwara in State of Rajasthan. The Company established by Promoters to create wealth from waste are professionals from science and commerce fields, to support healthier environment for next generations, by recycling the waste. Presently, the Company is engaged in the business of waste tyres recycling. The manufacturing plant operates on continuous pyrolysis process. It is an uninterrupted working method with continuous feeding and discharging system controlled by program logic controller system. The process is automatic and requires almost no human intervention. Following continuous pyrolysis, it process the end-of-life tyres (ELTs) pieces to produce energy components and raw materials. The major products are Recovered Carbon Black (RCB) and Steel Wires under Raw Material Category, Fuel Oil and Synthesis Gas under Energy components category. The Company utilises said synthesis gas, produced as by product of the pyrolysis process, for also manufacturing sodium silicate commonly known as raw glass. Apart from these, the Company follow the highest quality practice and compliant with Highest Environmental, Health, and Safety (EHS) in recycle industries. It has modern, Supervisory Control and Data Acquisition (SCADA) operated in integrated recycling plant at their manufacturing plant situated in Rajasthan. The production facility in Rajasthan has an installed capacity of recycling of 100 MT waste tyres per day. The Company is planning a new manufacturing plant in Dhule district of Maharashtra, with capacity of recycling of 100 MT waste tyres per day and has already acquired land for the said purpose. In 2020, the Company diversified by installing a 60 TPD Sodium Silicate Plant (SSP), and by 2021, rCB capacity had tripled to 30 TPD. In 2023, Company received REACH sustainability certification, acquired land in Maharashtra for its second plant, incorporated a subsidiary in the name of Shantol Recycling Pvt. Ltd.'. Company came up with the initial public offer aggregating the issuance of 7040000 equity shares by raising funds aggregating to Rs 52.80 crore, comprising a fresh issue of 5990000 equity shares amounting to Rs 44.93 crore and the offer for sale of 105000 equity shares amounting to Rs 7.87 crore on September 25, 2023. The Company commissioned the second 100 TPD Pyrolysis Plant in Maharashtra in November, 2024. In 2025, Company commissioned a 529 KW Solar Power Plant at its Rajasthan unit, commenced machinery erection at its Madhya Pradesh plant, and acquired Samsara Recycling Pvt. Ltd., a crumb rubber manufacturer.