Organic Recycling FY26 Revenue Surges 117% to INR 1,050.75 Mn; FY27 Growth Guided at ~30%
Organic Recycling Systems delivered strong FY26 results with revenue surging 117.14% to INR 1,050.75 Mn and PAT growing 60.56% to INR 250.81 Mn, driven by higher project execution. The company is expanding into BOO projects, green chemicals, and CCU verticals, while management guides approximately 30% year-on-year revenue growth for FY27 backed by a robust execution pipeline.
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Organic Recycling Systems reported a strong financial performance for FY26, with revenue from operations increasing by 117.14% to INR 1,050.75 Mn from INR 483.91 Mn in FY25. This growth was driven by higher project execution and improved order conversions. Profit after tax (PAT) grew by 60.56% to INR 250.81 Mn, compared to INR 156.21 Mn in the previous year, reflecting improved operating performance and disciplined working capital management.
The company's EBITDA increased by 44.81% to INR 302.83 Mn in FY26 from INR 209.12 Mn in FY25. However, EBITDA margins moderated to 28.82% from 43.22% in the prior year, attributed to higher purchases of stock-in-trade during the expansion phase. For the second half of FY26 (H2FY26), revenue surged by 141.73% to INR 744.96 Mn, while PAT for the half-year rose by 45.96% to INR 129.82 Mn.
Financial Highlights
The company achieved a positive turnaround in cash flow from operations, which stood at INR 185.84 Mn in FY26 compared to a negative INR 99.55 Mn in FY25. Organic Recycling Systems successfully met its guided PAT target of INR 25 crore for the fiscal year. The order book as of FY26 was approximately INR 100 Cr, with a pipeline of INR 200-300 Cr increasingly driven by CBG-led infrastructure and integrated waste-to-energy solutions.
| Metric | FY25 | FY26 | YoY Growth |
|---|---|---|---|
| Revenue from Operations (INR Mn) | 483.91 | 1,050.75 | 117.14% |
| EBITDA (INR Mn) | 209.12 | 302.83 | 44.81% |
| PAT (INR Mn) | 156.21 | 250.81 | 60.56% |
| EBITDA Margin (%) | 43.22% | 28.82% | - |
| PAT Margin (%) | 32.05% | 23.73% | - |
Strategic Developments
Organic Recycling Systems is transitioning towards Build-Own-Operate (BOO) projects, particularly in Agro Valorisation, to enhance revenue visibility and create stable long-term cash flows. The company is also expanding into green chemicals, catalysts, and carbon capture and utilisation (CCU) verticals. Innovation remains a key focus, with the company initiating research on India's first BIO-CCU platform supported by R&D initiatives and grant funding from DBT–BIRAC and international agencies.
Management has guided for approximately 30% year-on-year revenue growth in FY27, supported by a strong execution pipeline and continued business momentum. The company's NABL-accredited R&D centre enables testing, validation, and third-party research services, further supporting its IP-led and innovation-driven revenue model.
Historical Stock Returns for Organic Recycling Systems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.50% | -2.33% | -8.55% | -9.02% | -9.93% | +1.90% |
How will the shift towards Build-Own-Operate (BOO) models impact the company's capital expenditure requirements in the near term?
What is the expected timeline for the new green chemicals and carbon capture verticals to contribute meaningfully to total revenue?
Can the company sustain current EBITDA margins as the expansion phase stabilizes and stock-in-trade purchases normalize?
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