ALFA Finder
| Investment Value | ₹26.49 CrCCD Subscription |
|---|---|
| Market Cap | ₹343.25 CrWaste Management |
| Revenue Growth | 116.86%Annual YoY |
| P/E Ratio | 13.69xSector 21.68x |
Key highlights
- Migration approved from BSE SME platform to the Main Boards of BSE and National Stock Exchange
- Strategic investment of up to ₹26.49 crore in Shreyam Manek Agro for a project at Damoh
- Approval of 'Employee Stock Option Scheme 2026' covering up to 10,00,000 equity shares
- Appointment of Bipin Velji Bid as CFO effective December 1, 2026, following Jigar Gudka's resignation
- Corporate guarantee for Industrial Associates enhanced to ₹8.00 crore to support working capital
Strategic Migration to National Stock Exchange Main Board
Organic Recycling Systems is set to transition from the BSE SME platform to the Main Boards of both BSE and NSE, pending shareholder and regulatory approvals. This migration represents a significant milestone for the waste management firm, which has seen its market capitalization reach ₹343.25 crore. The move follows a period of rapid expansion, including a 116.86% increase in annual operating revenue.
By listing on the Main Boards, the company aims to enhance liquidity and attract a broader institutional investor base. This decision aligns with recent capital activities, including a ₹16.10 crore preferential allotment to promoters completed earlier in November 2026.
New Bioenergy Investment and Project Pipeline
- Investment of up to ₹26,49,06,100 through subscription of 26,49,061 CCDs at ₹100 each
- Target entity Shreyam Manek Agro is developing a CBG facility at Damoh, Madhya Pradesh
- The total estimated project cost for the Damoh manufacturing facility is ₹120.42 crore
- Production activities will include Compressed Bio-Gas and associated organic by-products
- The acquisition is slated for completion by March 2030 using cash consideration
Governance Updates and Leadership Transition
To support talent retention during this growth phase, the Board approved the Employee Stock Option Scheme 2026, creating a pool of 10 lakh shares with a minimum one-year vesting period. In a key leadership transition, Bipin Velji Bid will take over as Chief Financial Officer effective December 1, 2026. Mr.
Bid, a Fellow Chartered Accountant with over two decades of experience in debt consulting and risk management, replaces Jigar Gudka. These governance changes occur as the company executes a ₹200–300 crore project pipeline, including recent contracts with Bharat Petroleum and MoUs with Mahanagar Gas Limited for bioenergy development.
| Date | Announcement | Amount |
|---|---|---|
| 05 Nov 2026 | Board meeting rescheduled to 12 Nov 2026 to consider BSE and NSE Main Board migration and ESOP schemeSource: BSE filing | – |
| 04 Nov 2026 | Allotment of 10,00,000 equity shares to promoter Sarang Bhand on preferential basisSource: BSE filing | ₹16.10 Cr |
| 22 Oct 2026 | Entered into MoU with Mahanagar Gas Limited to explore Compressed Biogas (CBG) opportunitiesSource: organicrecycling.co.in | – |
| 16 Oct 2026 | Subsidiary Solapur Bioenergy Systems secured 5th BPCL EPCOM contract for Bhilai CBG plantSource: energetica-india.net | – |
| 12 Oct 2026 | Approved corporate guarantee to Bank of Baroda for credit facilities of subsidiary Solapur Bioenergy SystemsSource: scanx.trade | ₹30.00 Cr |
| 07 Oct 2026 | Entered into MoU with Aditya Birla Chemicals (Thailand) for composite waste recycling solutionsSource: scanx.trade | – |
What to watch next
- Postal Ballot for shareholder approval of the migration and ESOP scheme in late 2026
- CFO transition to Bipin Velji Bid effective December 1, 2026
- Listing of equity shares on the NSE Main Board following regulatory clearance
- Development milestones for the Damoh CBG project reaching through March 2030
| Share price | ₹220.05 |
|---|---|
| Market capitalisation | ₹343.25 Cr |
| Revenue (annual) | ₹105.07 Cr |
| Net profit (annual) | ₹25.08 Cr |
| P/E (TTM) | 13.69×Sector 21.68× |
| Promoter holding | 15.07% |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Organic Recycling Systems Ltd announcing Board meeting outcomes including Main Board migration and investment approvals. Market figures from a third-party data provider.
