Infinite Cercle Private Limited

Business Overview

• Operates under the brand "Cercle X" — a tech-enabled circular-economy / industrial waste-management platform. Per its own site (cerclex.com): (1) Industrial Waste Management (IWM) — end-to-end traceability of pre-consumer industrial waste
• (2) EPR, Extended Producer Responsibility, compliance via a "Web3-based dashboard"
• (3) Scrap Trade — a marketplace claiming 42,000+ traders/aggregators for recyclable materials
• (4) E-waste management, SPCB/CPCB-certified disposal
• (5) Government solutions for city-scale waste digitization for urban local bodies.
• Note: the Cercle X website footer names the legal entity "Infinite Cercle Inc", possibly a US/overseas holding entity distinct from this Indian Pvt Ltd — flagged as a possible entity-confusion trap, not merged into this profile.
• Recognised as a DPIIT Startup, per TheCompanyCheck.

Sector & Classification

Environment / waste management — waste collection, treatment & disposal, materials recovery, industrial (pre-consumer) waste recycling, EPR compliance services, wholesale trading of scrap (NIC 37100 per CIN prefix = "Sewerage; waste collection, treatment and disposal activities")

Directors & Key Management

Two directors, both since incorporation (09 Jan 2020), tenure ~6.5 years, confirmed by both Tofler and TheCompanyCheck: - Shri Vishnuvardhan (also styled "B. Vishnuvardhan" / "Vishnu Vardhaan" in other records) — DIN 08477320 — CEO & Co-Founder (per cerclex.com and Madras HC filings, where he is named as the company's authorised representative) - Divya Shambu Shetty (also styled "Divya Shetty") — DIN 08477321 — COO & Co-Founder (per cerclex.com) Both DINs sourced from Tofler only (single-source; Falconebiz page could not be retrieved — treat DINs as partial/unconfirmed by a second registry source).

GST Registrations

Not obtained. No aggregator source checked (Tofler, TheCompanyCheck, findgst.in, mastersindia.co, knowyourgst) exposed a GSTIN for this entity within available access; findgst.in and mastersindia.co returned errors (500/404) for this entity. PAN AAFCI5399Q (single-sourced, Tofler) would underlie any GSTIN but the GSTIN itself, home state registration count, and per-GSTIN status could not be confirmed.

Financials

• FY2025, year ended 31 Mar 2025, — Revenue ₹135.62 Cr, up 52% YoY, TheCompanyCheck; single-sourced, standalone presumed — not stated.
• EBITDA and PAT figures are paywalled ("GET PRO") on TheCompanyCheck.
• Tofler, as of its last update, referencing FY2024, instead shows only a coarse "Revenue range: ₹1 Cr – 100 Cr" for year ended 31 Mar 2024, Operating Margin 2.67%, Net Profit Margin 2.76%, Debt-to-Equity 0.04, and "Networth decreased by 41.51%" — these are Tofler ratios, not confirmed against TheCompanyCheck's absolute FY2025 revenue figure, so treat the FY2025 ₹135.62 Cr headline as partial/single-source.
• Net worth absolute value and borrowings total not obtained, beyond the open-charges figures below.

Funding History

• No priced equity round, seed/Series A, investor names, amounts, valuation, confirmed by any source checked. cerclex.com states the company "raised a seed round from IP Ventures for redefining waste management through technology", single company-site source, no amount/date given — partial.
• Separately, Caspian Impact Investments Private Limited appears as a secured lender via registered charges, see Charges below, — this is debt, not equity, and should not be reported as a funding round.

Shareholding

• Not obtained — both Tofler and TheCompanyCheck gate shareholding/ownership pattern behind a paid "Premium/Pro" report tier
• No shareholder names or percentages were visible on either free page.

Loans & Charges

Related Parties

• Pepaa Products Private Limited — flagged by TheCompanyCheck as a related company via shared directorship, single-source, relationship/nature not detailed — partial.
• No parent/subsidiary/group holding structure confirmed.
• The "Infinite Cercle Inc" entity named in the cerclex.com footer is a possible affiliated/overseas entity but its relationship to this Indian Pvt Ltd, parent, sister entity, or unrelated namesake, could not be confirmed — flagged, not merged.

Credit Ratings

• Not obtained. TheCompanyCheck explicitly gates this, "Credit ratings, litigation, and regulatory alerts... require an active report plan"
• No independent CRISIL/ICRA/CARE press release or rating rationale found on any source checked.

Legal & Compliance

• Multiple ongoing tax-related writ petitions at the Madras High Court, per Indian Kanoon, all naming the company and Shri Vishnuvardhan as CEO & Director / authorised representative, no outcomes stated in the source, all appear pending/recent:
• WP No. 29597 vs. Commercial Tax Officer, filed 17 Dec 2025, Judge C. Saravanan; also appears as a duplicate docket entry
• Case vs. Deputy Commissioner, filed 20 Feb 2026, Judge C. Saravanan; director named as "Mr B. Vishnuvardhan"
• Case vs. State Tax Officer, filed 18 Feb 2025, Judge Krishnan Ramasamy
• All are GST/commercial-tax disputes, consistent with an active operating business; no adverse judgment or penalty amount was stated.

Competitive Landscape

• India-focused industrial waste-management / circular-economy tech peers, roughly similar early-growth-stage scale unless noted:
• Recykal (Hyderabad) — larger, well-funded circular-economy marketplace/EPR platform, bigger scale
• Banyan Nation — plastics recycling & traceability tech, similar early-stage scale
• Kabadiwalla Connect (Chennai) — informal-sector waste-aggregation tech, similar/smaller scale
• Saahas Zero Waste (Bengaluru) — waste management services + EPR, similar scale
• Attero Recycling — e-waste/battery recycling, larger and more capital-intensive scale
• Namo eWaste Management — e-waste recycling compliance, similar/smaller scale
• Named on general sector knowledge, not source-verified per-company financials; flagged as directional, not confirmed comparables.

Frequently Asked Questions

Sources

Tofler (tofler.in/infinite-cercle-private-limited/company/U37100TZ2020PTC033306) — identity, capital, directors+DINs, charges, financial ratios. TheCompanyCheck (thecompanycheck.com/company/infinite-cercle-private-limited/U37100TZ2020PTC033306) — identity, capital, directors, sector, FY2025 revenue, charges, related-party flag, DPIIT status. cerclex.com (official site, including /about-us/) — business overview, leadership names/titles, "seed round from IP Ventures" claim, logo image, "Infinite Cercle Inc" footer reference. Indian Kanoon (indiankanoon.org) — Madras High Court tax litigation. Falconebiz and findgst.in/mastersindia.co were attempted but returned only homepage/error content, not usable company-specific data.