Organic Recycling Systems Limited has made a disclosure pursuant to Regulation 30 of SEBI Listing Regulations regarding its wholly owned subsidiary, Solapur Bioenergy Systems Private Limited (SBESPL), securing a large-scale contract from Bharat Petroleum Corporation Limited (BPCL).
The contract is for Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) of a Compressed Bio-Gas (CBG) plant at Hubli-Dharwad, Karnataka. The plant will be based on organic municipal solid waste.
Contract Details
- Contracting Entity: Bharat Petroleum Corporation Limited (BPCL)
- Contract Value Classification: Large-scale order (₹50-100 crore)
- Project Type: Domestic
- Execution Timeline: 15 months from date of Letter of Acceptance (LOA), followed by 5 years of Operation and Maintenance from commissioning
- Related Party Transaction: No promoter/promoter group/group company interest in BPCL; not a related party transaction
Strategic Context
The press release indicates this is the fourth large-scale order from BPCL won by SBESPL in a month, adding approximately 20 TPD of aggregate CBG processing capacity across plants in Mysuru (Karnataka), Raipur (Chhattisgarh), Kozhikode (Kerala), and Hubli-Dharwad (Karnataka).
The EPCOM structure combines construction with five years of operations and maintenance, providing annuity-like revenue during the O&M phase which is expected to improve EBITDA visibility.
Additional Business Updates
The company also recently secured renewal of its O&M contract for a separate CBG plant in Gorakhpur with Indian Oil Corporation Limited (IOCL).
Company Background
Organic Recycling Systems Limited is an integrated CleanTech and decarbonisation platform listed on BSE SME with two patents and 5+ proprietary technologies. The company uses its patented DRYAD anaerobic digestion technology developed at its NABL-accredited R&D center in partnership with IIT Bombay and IIT Kharagpur.