Organic Recycling Systems Ltd

₹ 226 5.69%

11 Nov - close price

organicrecycling.co.in BSE - SME: 543997

About

Incorporated in 2008, Organic Recycling Systems Limited is an engineering company offering sustainable waste management solutions.^[1]

Key Points

Business Profile:^[1]
Organic Recycling Systems is an engineering company focused on environmental solutions and providing waste management solutions across waste types and across the value chain.

Website BSE

Market Cap ₹ 375 Cr.
Current Price ₹ 226
High / Low ₹ 231 / 137
Stock P/E 78.7
Book Value ₹ 112
Dividend Yield 0.00 %
ROCE 2.57 %
ROE 2.19 %
Face Value ₹ 10.0

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -3.03%
Promoter holding is low: 15.1%
Company has a low return on equity of 2.13% over last 3 years.
Company has high debtors of 281 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Utilities Utilities Other Utilities Waste Management

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Detailed Comparison with:

Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026	Sep 2026
	8.31	9.82	9.27	18.10	12.70	31.06	25.78
YoY Sales growth			+11.55%	+84.32%	+37.00%	+71.60%	+102.99%
	4.53	8.68	6.89	14.94	9.71	27.51	22.85
Operating Profit	3.78	1.14	2.38	3.16	2.99	3.55	2.93
OPM %	45.49%	11.61%	25.67%	17.46%	23.54%	11.43%	11.37%
	0.06	0.23	0.07	0.16	0.04	0.37	0.90
Interest	0.74	0.03	0.03	0.11	0.09	0.19	0.29
Depreciation	0.06	0.09	0.37	0.69	0.67	0.71	0.52
Profit before tax	3.04	1.25	2.05	2.52	2.27	3.02	3.02
Tax %	25.33%	28.80%	24.39%	28.17%	25.55%	22.52%	20.20%
	2.27	0.88	1.55	1.82	1.69	2.34	2.42
EPS in Rs	1.97	0.77	1.35	1.40	1.30	1.80	1.55
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3.60	5.70	8.79	8.26	9.32	13.05	18.13	27.38	43.76	56.84
Sales growth		+58.33%	+54.21%	-6.03%	+12.83%	+40.02%	+38.93%	+51.02%	+59.82%	+84.55%
	6.71	8.00	12.59	7.48	8.13	6.19	13.03	21.60	37.20	50.36
Operating Profit	-3.11	-2.30	-3.80	0.78	1.19	6.86	5.10	5.78	6.56	6.48
OPM %	-86.39%	-40.35%	-43.23%	9.44%	12.77%	52.57%	28.13%	21.11%	14.99%	11.40%
	0.17	0.33	5.96	2.41	1.38	0.59	0.12	0.23	0.41	1.27
Interest	0.53	1.51	1.67	0.57	0.99	1.47	0.79	0.23	0.30	0.48
Depreciation	0.09	0.14	0.16	0.25	0.22	0.26	0.16	1.24	1.38	1.23
Profit before tax	-3.56	-3.62	0.33	2.37	1.36	5.72	4.27	4.54	5.29	6.04
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	17.66%	26.46%	26.65%	23.82%
	-3.56	-3.62	0.33	2.37	1.36	4.72	3.15	3.32	4.02	4.76
EPS in Rs						6.05	2.74	2.55	3.09	3.35
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	%
5 Years:	40%
3 Years:	50%
TTM:	85%

Compounded Profit Growth
10 Years:	%
5 Years:	10%
3 Years:	-5%
TTM:	36%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	7%
1 Year:	20%

Return on Equity
10 Years:	%
5 Years:	2%
3 Years:	2%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	0.01	0.01	0.01	0.46	0.01	5.20	7.70	8.66	8.66	15.60
Reserves	78.77	87.34	87.67	90.03	91.39	104.97	153.90	186.00	163.83	159.34
	33.03	41.64	6.65	50.70	50.44	66.12	31.42	31.34	35.88	47.31
	20.12	22.23	66.35	27.35	39.01	18.64	15.64	14.14	24.97	25.70
Total Liabilities	131.93	151.22	160.68	168.54	180.85	194.93	208.66	240.14	233.34	247.95
	0.03	0.18	0.84	0.61	0.69	0.46	0.74	8.31	7.03	12.30
CWIP	1.37	1.31	0.00	2.01	4.30	6.53	8.53	3.68	5.04	0.06
Investments	58.97	58.97	58.97	88.97	95.47	95.47	95.47	95.47	110.59	111.36
	71.56	90.76	100.87	76.95	80.39	92.47	103.92	132.68	110.68	124.23
Total Assets	131.93	151.22	160.68	168.54	180.85	194.93	208.66	240.14	233.34	247.95

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-3.09	0.00	-1.57	3.68	-27.02	-4.42	-12.48	-1.98
	-19.44	0.00	-2.04	-2.59	-1.47	-2.76	-4.06	0.46
	22.67	0.00	4.33	-1.67	28.44	12.82	36.11	-21.86
Net Cash Flow	0.14	0.00	0.73	-0.58	-0.06	5.64	19.58	-23.38
Free Cash Flow	-3.09	0.00	-3.60	1.09	-29.28	-7.01	-14.79	-3.44
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	99%	0%	-201%	309%	-394%	-79%	-209%	-22%

Ratios

Standalone / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	57.79	275.99	345.07	528.06	674.39	577.01	545.39	404.06	281.01
Inventory Days		0.00					0.91	1.08	56.31
Days Payable							628.31	235.29	40.41
Cash Conversion Cycle	57.79	275.99	345.07	528.06	674.39	577.01	-82.01	169.85	296.90
Working Capital Days	-740.14	-398.94	-482.10	-375.16	-889.00	330.88	325.34	276.35	185.17
ROCE %		-1.75%	1.79%	2.57%	1.66%	4.52%	2.83%	2.28%	2.57%

Insights

In beta

Mar 2024

Mar 2025

Mar 2026

Number of Academic/Research Collaborations
count

x	x	x
x	x	x
x	x	x
	xx	xx
	xxx	xxx
	xxx,xxx
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Number of Operational/Under-Execution Projects
count

Number of Patents Granted
count

Capacity Utilization
%

Total Processing Capacity
TPD

Cumulative CO2 Emissions Mitigated (Solapur Plant)
tons

Cumulative Compost Supplied (Solapur Plant)
tons

Cumulative Waste Processed (Solapur Plant)
tons

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026	Sep 2026
	20.35%	20.35%	20.35%	18.10%	18.10%	18.10%	15.07%
	1.69%	0.00%	0.00%	0.36%	0.37%	0.15%	0.00%
	77.96%	79.64%	79.64%	81.55%	81.54%	81.75%	84.94%
No. of Shareholders	2,201	1,096	1,092	971	920	892	1,002

	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	20.35%	18.10%	18.10%	15.07%
	0.00%	0.36%	0.15%	0.00%
	79.64%	81.55%	81.75%	84.94%
No. of Shareholders	1,096	971	892	1,002

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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