Srichakra Polyplast | Food-Grade rPET Recycling India

Srichakra Polyplast | Food-Grade rPET Recycling India

Waste Recovery

Sustainable Development Goals

SDG 12 – Responsible Consumption and Production, SDG 14 – Life Below Water, SDG 9 – Industry Innovation and Infrastructure

Company Overview

Srichakra Polyplast (India) Pvt Ltd is a plastic recycler based in Hyderabad, Telangana. It converts post-consumer PET bottles and polyolefin plastics into recycled flakes, granules and pellets for the packaging industry. The company positions its output as a substitute for virgin plastic in bottles and containers.

The company was co-founded by Ravindra Venkata Paruchuri, who serves as CEO, and Srinivas Chakravarthy. It has been described as the first Indian recycler to commission a food-grade bottle-to-bottle PET facility. It was also the first Indian recycler reported to receive a positive safety assessment for its rPET from the European Food Safety Authority, announced in March 2022.

Circulate Capital invested in the company in 2020, and the company has since reported a sixfold increase in capacity. In 2021 it announced an investment of more than US$10 million in an upgraded PET facility and a new polyolefin recycling facility. A further funding round from family offices followed in February 2025.

In November 2025 the company acquired Gujarat-based Safar Ecopet, which operates a Starlinger food-grade line and is being renamed Srichakra Safar Ecopet. The company reports a stated target of 100,000 tonnes of annual recycling capacity across northern, eastern, western and southern India.

Why These SDGs Matter

SDG 12 is the core fit. The company converts collected post-consumer plastic into resin that brands can use in new packaging in place of virgin plastic. It has also supported traceability of collected waste so that a paint manufacturer could meet Extended Producer Responsibility mandates.

SDG 9 applies because the company has built recycling infrastructure that meets food-contact standards. Its lines use Starlinger technology, and the company has commissioned bottle-to-bottle and polyolefin facilities. This is industrial capacity that did not previously exist in India for food-grade recycled PET.

SDG 14 applies through the company's stated mission of reducing plastic pollution in oceans and landfills. Its lead investor, Circulate Capital, invests through a fund focused on ocean plastic. Diverting bottles from mismanaged waste streams addresses a documented source of marine plastic leakage

Products & Services
  • Food-grade recycled PET (rPET) pellets
  • Recycled PET flakes
  • Recycled polyolefin (HDPE, PP) flakes and granules
  • Deodorized bottle-to-bottle grade polyolefin pellets
  • Solid-state polymerized (SSP) PET processing
  • Post-consumer plastic waste collection and processing
  • EPR-linked plastic waste management for brand owners
  • Recycling equipment design and build
Business Challenges Solved
  • Meeting recycled-content targets in beverage and food packaging
  • Sourcing food-contact compliant recycled resin in India
  • Reducing dependence on virgin PET and polyolefin
  • Fulfilling Extended Producer Responsibility obligations for plastic packaging
  • Tracing post-consumer plastic back to its collection source
  • Recycling manufacturing-plant plastic waste into approved packaging inputs
  • Securing recycled resin supply that meets European and US market safety expectations
Approach & Methodology

Srichakra operates as a mechanical recycler. It collects post-consumer PET and polyolefin plastics, then sorts, washes and processes them into flakes, granules and pellets. Its main PET operations run on Starlinger recycling technology. The company reported four Starlinger PET lines in late 2025, three of them at its main Hyderabad facility, with combined annual capacity of 56,000 tonnes.

Food-grade output relies on solid-state polymerization, which raises the quality of recycled PET so it can be used in contact with food and drink. The company described its upgraded facility as using technology approved by the US Food and Drug Administration. Its rPET was separately assessed by the European Food Safety Authority.

For brand owners, the company works on closed-loop arrangements. In one documented case, it collected post-consumer plastic for a paint manufacturer, kept the material traceable for EPR reporting, and worked with the customer's R&D team to develop granules for its containers. The customer approved recycled content of 7% to 20% in those containers.

The company also builds its own recycling machinery, according to a business data platform. Details of that equipment are not publicly documented.

Market Position

Srichakra sells recycled resin to the packaging value chain, with beverage, FMCG, and paints and lubricants named among its customer industries. Its primary customers are brand owners and packaging converters that need recycled content in food-contact and consumer packaging.

The company's stated focus is food-contact grade polymers rather than lower-grade recycled output. It has said the next phase of Indian plastics recycling will shift from volume toward polymers that meet global food-contact standards.

Its differentiation rests on regulatory approvals for rPET, the scale of its PET lines, and the operation of both PET and polyolefin recycling. Other Indian plastic recyclers named as peers by data platforms include Dalmia Polypro Industries and Banyan Nation.

Procurement Considerations
  • Confirm which grade you need (bottle-to-bottle, food-contact or non-food) and request the matching specification sheets
  • Ask for the regulatory approvals covering the intended market, including EFSA and FSSAI status
  • Verify the facility that will supply your material, since production now spans Hyderabad and Gujarat
  • Request traceability documentation for feedstock, especially if the material supports EPR reporting
  • Check recycled content limits qualified for your specific packaging format
  • Review supply continuity as capacity expands, including lead times and contract volumes
  • Ask for third-party quality and management-system certificates, as none are publicly confirmed here
Funding, Recognition & Ecosystem
  • Circulate Capital, through its Ocean Fund, invested in 2020; the initial investment was reported as US$4.79 million
  • Series A round in February 2025 from family offices and investors including GreenGen Capital and Niveshaay
  • Total funding reported by Tracxn of US$21.3 million over six rounds
  • Positive safety assessment from the European Food Safety Authority for rPET, announced March 2022
  • Technology partnership with Starlinger for PET recycling lines
  • Acquisition of Safar Ecopet, Gujarat, November 2025
Natnavi Analysis

Srichakra matters because recycled plastic that can be used in food packaging is scarce in India, and brands with recycled-content commitments need suppliers who can meet food-contact rules. The company has moved from basic recycling to bottle-to-bottle production, which is the harder end of the market.

Its sustainability contribution is concrete and measurable at the plant level. The company reported 56,000 tonnes of annual PET recycling capacity across four lines in late 2025, and it is expanding toward 100,000 tonnes.

Its strengths are its regulatory approvals, its established equipment partnerships, and backing from an investor focused on plastic waste. The Safar Ecopet acquisition adds a second production site and extends its reach beyond Telangana.

For buyers, some points call for direct diligence. The company has not published management-system certifications or independent life-cycle data for its resin. Integrating a newly acquired facility is also a typical execution task for a company expanding quickly. Buyers should ask for these documents before contracting.

Sources & References
Website
Founded: 2010
Company Stage: Growth-Stage Company
Headquarters
Hyderabad, Telangana, India
Geographic Presence
Srichakra operates from Hyderabad and, following its 2025 acquisition, from a second facility in Gujarat. It serves packaging and brand customers across India. It also supplies recycled plastic to international markets, with Europe and the United States named as target export markets. The company has stated a plan to establish a presence across the north, east, west and south of India as part of its capacity expansion.
Solution Type
Equipment Supplier, Manufacturer, Service Provider
Sustainability Outcomes
Circular Economy, Resource Efficiency, Supply Chain Transparency & Traceability, Waste Reduction
Industries Served
Agriculture & Food, Automotive & Electric Mobility, Chemicals & Materials, Retail & Consumer Goods, Textiles & Apparel
Last Reviewed: September 28, 2026

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