Organic Recycling Systems Limited (BSE: 543997), an integrated CleanTech company, reported audited consolidated revenue from operations of ₹105.07 crore for the full year ended 31 March 2026, more than double the ₹48.39 crore posted in FY25.
Consolidated profit after tax rose 60 per cent to ₹25.08 crore. Basic earnings per share on a consolidated basis increased 43 per cent to ₹28.96, compared with ₹20.27 in FY25.
A Structural Diversification Move
At its board meeting on 24 April 2026, ORSL approved entry into integrated Build-Own-Operate (BOO) projects under an Agro Valorisation platform — a meaningful diversification in how ORSL will ensure further revenue growth along with its consulting and EPC opportunities. Where the company is building compressed biogas (CBG) plants for clients, it will now add a portfolio to own and operate them directly, generating long-term recurring revenue from infrastructure assets.
The platform initially covers five projects, each estimated at approximately ₹200 crore in capital expenditure, for a combined outlay of ₹1,000 crore. Feedstock will comprise paddy straw, Napier grass, and cattle waste; outputs will include CBG, organic fertilisers, and Gaushala-linked products. Each project carries a development cycle of 15 to 24 months and is projected to deliver returns upward of 20 per cent.
The commercial viability of the BOO model is underpinned by a shifting policy environment: several states have introduced concession frameworks that improve project economics for such infrastructure. ORSL is selectively bidding in states where these conditions are in place, leveraging its 18 years of operational experience in exactly such projects.
Governance and Compliance
The company voluntarily adopted Indian Accounting Standards (IND AS) for fair value accounting during FY26, as a preparatory step for its planned migration to the BSE Main Board by October 2026 — a timeline the company has publicly committed to in line with applicable regulations. ORSL also completed the full redemption of its preference shares during FY26 using warrant proceeds raised at listing, leaving a simplified, fully equity-based capital structure.
"This has been a landmark year for ORSL. Consolidated revenues have crossed the ₹100 crore milestone, earnings per share have grown 43 per cent, and we have voluntarily adopted IND AS to align with the highest standards of financial reporting. The ₹1,000 crore Agro Valorisation platform marks the expansion of our EPC and technology company, building an asset-based platform, built on 18 years of operational experience in exactly the kind of projects we are now proposing to own," said Sarang Bhand, Promoter and Managing Director, ORSL.
Company Background
Founded in 2008, ORSL holds 2 patents and over 5 proprietary technologies, with active R&D partnerships with IIT Bombay and IIT Kharagpur. Its client base includes Indian Oil Corporation and Bharat Petroleum, alongside municipal corporations.