BSEBoard Meeting9h ago · 28 Oct 2026, 01:44 pm
Unaudited Standalone and Consolidated Financial Results of the Company for the half year ended September 30, 2026.
Organic Recycling Systems Ltd · 543997
✦ AI Summary▲ PositiveResults
Organic Recycling Systems Ltd has announced its unaudited standalone and consolidated financial results for the half year ended September 30, 2026, showing revenue more than doubling to ₹770.01 Mn, with EBITDA and PAT delivering solid year-on-year growth.
Analysis Scores
Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact9/10
Market Sentiment8/10
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Organic Recycling Systems Ltd - 543997 - Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For
The Half Year Ended September 30, 2026.
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October 28, 2026
BSE Limited,
Department of Corporate Services,
Listing Department
P J Towers, Dalal Street
Mumbai – 400001
Scrip Code: 543997
Dear Sir/Madam,
Subject: Outcome of the meeting of the Board of Directors of Organic Recycling Systems
Limited (the “Company”), in terms of the provisions of Regulation 30 and 33 of the
Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
Pursuant to Regulation 30 and 33 of the SEBI Listing Regulations, we wish to inform you
that the Board of Directors of the Company, at its meeting held today i.e. October 28,
2026 have inter alia considered and approved the following:
1. The Unaudited Standalone and Consolidated Financial Results of the Company for
the half year ended September 30, 2026, as recommended by the Audit
Committee.
2. Approval for providing a corporate guarantee in favour of HDFC Bank Limited in
connection with credit facilities aggregating to ₹5.00 crore sanctioned to Industrial
Associates, a partnership firm in which the Company holds a 99.9% interest, for its
working capital requirements.
Please find enclosed herewith a copy of the approved Unaudited Standalone and
Consolidated Financial Results along with the Limited Review Report of the Auditors as
annexure A.
Further, pursuant to Regulation 30 of the Listing Regulations, we are enclosing herewith
a copy of the Investor Presentation on the Unaudited Financial Results of the Company
for the half year ended 30thSeptember, 2026 as annexure B.
The requisite disclosures in respect of the Corporate Guarantee, pursuant to Regulation 30 of
the SEBI Listing Regulations, are enclosed herewith as Annexure C.
The meeting commenced at 10.30 a.m. and concluded at 13.32 p.m.
You are requested to take the same on your record.
Organic Recycling Systems Ltd
Registered / Corporate Address: 1003, The Affaires, Plot No.19, Sector-17, Sanpada, Navi Mumbai – 400705.
Tel: + 91 22 4170 2222 Fax: +91 22 4170 2200 22 00 | www.organicrecycling.co.in | info@organicrecycling.co.in
CIN L40106MH2008PLC186309
Thanking You
For Organic Recycling Systems Limited
Manoj Kumar
Company Secretary & Compliance Officer
Membership No. A56992
Encl: As above
Organic Recycling Systems Ltd
Registered / Corporate Address: 1003, The Affaires, Plot No.19, Sector-17, Sanpada, Navi Mumbai – 400705.
Tel: + 91 22 4170 2222 Fax: +91 22 4170 2200 22 00 | www.organicrecycling.co.in | info@organicrecycling.co.in
CIN L40106MH2008PLC186309
ORGANIC RECYCLING SYSTEMS LIMITED
CLEANTECH | INNOVATION | ENGINEERING
STRONG H1 FY27 PERFORMANCE
Revenue more than doubled as EBITDA and PAT delivered solid year-on-year growth
REVENUE FROM OPERATIONS EBITDA* PROFIT AFTER TAX DILUTED EPS
₹770.01 Mn ₹192.60 Mn ₹157.97 Mn H1: ₹10.43
+151.82% YoY +30.97% YoY +30.57% YoY Annualised: ₹20.86
*EBITDA excludes other income. Annualised EPS is calculated by doubling H1 diluted EPS; it is an indicative run-rate and not a forecast.
Management Commentary
Commenting on the Company’s performance, Mr. Sarang Bhand, Founder & Managing Director, said:
“H1 FY27 reflects strong business momentum, with revenue more than doubling year-on-year and
continued growth in EBITDA and profit after tax. Our expanding project portfolio, strategic
collaborations and focus on execution position us to pursue the next phase of growth and create long-
term stakeholder value.”
H1 FY27 Financial Highlights
• Revenue from operations increased 151.82% to ₹770.01 Mn from ₹305.78 Mn in H1 FY26, supported by product
sales and contributions from consulting and service verticals.
• EBITDA grew 30.97% to ₹192.60 Mn from ₹147.06 Mn. EBITDA margin was 25.01%, compared with 48.09% in H1
FY26, primarily reflecting higher purchases of stock-in-trade and changes in inventories of finished goods, work-in-
progress and stock-in-trade.
• Profit after tax rose 30.57% to ₹157.97 Mn from ₹120.99 Mn. PAT margin for H1 FY27 was 20.33%.
Strategic and Business Developments
• BPCL project wins: Award of five EPCOM contracts for CBG plants at Mysuru, Raipur, Kozhikode, Hubli-Dharwad and
Bhilai, representing a reported aggregate order-book range of approximately ₹350–500 crore and proposed
combined capacity of around 24.6 TPD.
• O&M portfolio: Renewal of the Gorakhpur operations and maintenance mandate from IOCL strengthens the
Company’s recurring service opportunity and operating capabilities.
• Capital-market initiatives: Completion of a 1:2 bonus share issue and a preferential share issue at ₹161 per share.
• Strategic collaborations: Collaboration with Mahanagar Gas Limited to explore CBG projects in Maharashtra and
Karnataka, and with Aditya Birla Chemicals on composite-waste recycling.
• Emerging solutions: Continued work on carbon-compliance services and biomass gasification broadens the
Company’s technology-led waste-to-value offering.
ORSL | H1 FY27 Investor Update
ORGANIC RECYCLING SYSTEMS LIMITED
CLEANTECH | INNOVATION | ENGINEERING
H1 FY27 Financial Performance Snapshot
Consolidated | ₹ in Mn, except EPS and percentages
Particulars H1 FY27 H1 FY26 YoY H2 FY26
Revenue from operations 770.01 305.78 151.82% 744.96
Other income 6.94 0.43 — 5.61
Total revenue 776.96 306.21 — 750.58
Total expenses 577.41 158.73 — 589.19
EBITDA* 192.60 147.06 30.97% 155.77
EBITDA margin 25.01% 48.09% — 20.91%
Depreciation & amortisation 26.85 19.36 — 19.90
Finance cost 4.54 1.33 — 3.54
Profit before tax 168.16 126.79 — 137.94
Tax expense 10.19 5.80 — 8.12
Profit after tax 157.97 120.99 30.57% 129.82
PAT margin 20.33% 39.51% — 17.30%
Diluted EPS (₹) 10.13 11.63 — 12.48
Annualised diluted EPS (₹) 20.86 — — —
*EBITDA excludes other income. Annualised diluted EPS of ₹20.86 is calculated as H1 FY27 diluted EPS of ₹10.43 × 2 and is indicative only; actual full-
year EPS may differ.
Management Guidance
We remain committed to maintaining our FY27 revenue growth
guidance.
Supported by a strong execution pipeline and continued business momentum.
Looking Ahead
ORSL remains focused on executing its growing project portfolio, strengthening its technology platform, improving
operating efficiencies and maintaining financial discipline. The Company believes that execution capabilities, strategic
partnerships and innovation will be central to converting emerging opportunities into sustained growth and long-term
stakeholder value, while supporting India’s transition towards a circular and resource-efficient economy.
The Company thanks its employees, customers, partners and shareholders for their continued trust and support.
ORSL | H1 FY27 Investor Update
ORGANIC RECYCLING SYSTEMS LIMITED
CLEANTECH | INNOVATION | ENGINEERING
About Organic Recycling Systems Limited
Organic Recycling Systems Limited (ORSL) is an environmental engineering company specialising in sustainable waste
management and valorisation solutions. Established in 2008 by technocrats, ORSL develops and deploys robust, cost-
effective and eco-friendly technologies across the waste value chain.
The Company’s operations span four strategic business verticals:
• Project Vertical — turnkey projects and technology solutions for waste valorisation.
• Product Vertical — a growing portfolio of bio-based products, including compressed biogas (CBG) and organic
manure, supporting sustainable energy and agriculture.
• Services Vertical — advisory / consulting services in environmental strategy, waste management and regulatory
compliance. Operations & Maintenance (O&M) — troubleshooting and comprehensive O&M services for CBG-based
and other waste-processing facilities.
Technology, Recognition and Partnerships
Recognised under the Swachh Bharat Mission for operational excellence and innovation, ORSL is actively pursuing EPC
(Engineering, Procurement and Construction) opportunities nationwide. Its research and innovation efforts are
supported by collaborations with institutions and technical partners including IIT Bombay (IITB), IIT Kharagpur, IIT
Roorkee and the University
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