Organic Recycling Systems Limited has secured a major contract worth ₹50.00 crore for a Compressed Bio-Gas (CBG) project in Rajasthan, marking a significant business achievement for the renewable energy company.

Contract Details

The substantial order represents a key milestone in the company's expansion within the bio-gas sector. The project will be executed in Rajasthan, adding to the company's portfolio of renewable energy initiatives across India.

Business Impact

This contract win strengthens Organic Recycling Systems' position in the sustainable energy market, particularly in the bio-gas segment. The ₹50.00 crore project demonstrates the company's capability to secure and execute large-scale renewable energy projects.

The CBG project aligns with India's growing focus on alternative energy sources and waste-to-energy solutions. Compressed Bio-Gas projects play a crucial role in converting organic waste into clean energy, contributing to both waste management and renewable energy generation.

Company Operations

Organic Recycling Systems operates in the renewable energy sector with a focus on bio-gas and waste management solutions. The company's expertise in CBG projects positions it well to capitalize on the increasing demand for sustainable energy alternatives in India.

This Rajasthan project adds to the company's geographic presence and reinforces its commitment to expanding renewable energy infrastructure across different states.

Organic Recycling Systems Limited announced the acquisition of Industrial Associates Partnership Firm for ₹14.83 crores, as disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015. The board of directors approved the acquisition proposal during their meeting held on January 19, 2026.

Acquisition Details

The acquisition involves a cash consideration of ₹14,82,93,634.00, with ₹99,900.00 as fixed capital contribution and the balance to be paid in tranches according to the Capital Contribution Agreement terms. Organic Recycling Systems Limited will hold a 99.99% stake in Industrial Associates upon completion.

Target Company Profile

Industrial Associates Partnership Firm operates in chemical trading and distribution, with headquarters in Mumbai and warehousing facilities in Bhiwandi. The firm was originally established in 1981 and reconstituted as a partnership in 2008, managed by three partners holding 100% ownership.

Financial Performance

The partnership firm demonstrated consistent revenue performance over the past three years:

Business Operations and Market Presence

Industrial Associates specializes in importing and distributing industrial chemicals, dyes, and intermediates, serving a strong customer base across Maharashtra and Gujarat. The company's product portfolio centers on high-demand industrial commodities, with Soda Ash and Trichloroethylene contributing approximately 58% of total revenue.

Key business highlights include:

• Established supplier relationships with reputed global and Indian companies including BASF, AGC Inc., DCW, and Chemplast
• Core applications spanning wastewater treatment, detergents, and chemical processing
• Exclusive operations within India
• Ready infrastructure for chemical storage, bulk handling, and dispatch

Strategic Benefits

The acquisition provides Organic Recycling Systems Limited with several strategic advantages. Industrial Associates' distribution network offers a ready go-to-market channel for the company's proprietary biogas catalyst, enabling swift monetization and sector adoption. The established stockist relationships ensure steady availability of high-volume chemicals, minimizing dependency on intermediaries and enhancing supply chain control.

Additionally, the Bhiwandi warehouse provides ready infrastructure supporting faster turnaround, lower distribution costs, and improved regional serviceability. Through its network, Industrial Associates will support Organic Recycling Systems by supplying green chemicals that enhance compressed biogas production through cleaner digestion and eco-friendly purification processes.

Regulatory and Completion Timeline

The acquisition does not require governmental or regulatory approvals and will not fall within related party transactions. The promoter, promoter group, and group companies have no interest in Industrial Associates. The Capital Contribution Agreement and Reconstituted Partnership Deed will be executed within 60 days following board and audit committee approval.