Organic Recycling Systems Limited (ORSL) has made a regulatory disclosure pursuant to Regulation 30 of SEBI Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025.
The company informs that Solapur Bioenergy Systems Private Limited (SBESPL), a Wholly Owned Subsidiary of Organic Recycling Systems Limited, has secured a contract from Bharat Petroleum Corporation Limited (BPCL) dated September 08, 2026.
Contract Details:
- Nature of Contract: Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) project
- Project: Setting up of an Organic Municipal Solid Waste based Compressed Bio-Gas (CBG) Plant
- Location: Kozhikode, Kerala
- Contract Value: ₹92.41 Crore including GST
- Scope: Domestic contract
- Execution Timeline: EPC including commissioning within 15 months from the date of Letter of Acceptance (LOA), followed by 5 years of comprehensive Operations & Maintenance from commissioning
- Related Party Status: No interest of promoter/promoter group/group companies in BPCL; Not a related party transaction
Additional Context from Press Release:
This contract represents ORSL's third BPCL EPCOM contract win within a single week, bringing cumulative awards to ₹259.71 crore (~US$27.48 million) across three states (Karnataka, Chhattisgarh, and Kerala).
The three projects together represent approximately 15 cumulative plant-years of contracted O&M revenue visibility once all facilities are commissioned.
Project Portfolio Summary:
- Mysuru (Karnataka): ₹85.56 Cr, awarded Sep 3, 2026, ~5 TPD capacity
- Raipur (Chhattisgarh): ₹81.74 Cr, awarded Sep 4, 2026, ~4.8 TPD capacity
- Kozhikode (Kerala): ₹92.41 Cr, awarded Sep 8, 2026, ~5 TPD capacity
Project Timeline: The Kozhikode project is scheduled to be mechanically completed within 12 months and fully commissioned within 15 months from the LOA date. Performance Guarantee Test Run must be completed within three months of commissioning or within 18 months of LOA.
Strategic Significance: The EPCOM model extends ORSL's involvement beyond EPC execution to include long-term operation and maintenance, providing extended relationship with BPCL and annuity-style revenue streams.
The company also notes recent renewal of its O&M contract for the Gorakhpur CBG plant with Indian Oil Corporation Limited (IOCL), further validating its technical capabilities in the CBG sector.
Management Commentary:
Pankaj Tanwar, CEO – Bioenergy, Organic Recycling Systems Limited, commented: "The award of a third EPCOM contract by BPCL — within the same week as our first two — is a strong validation of our execution capabilities and of BPCL's confidence in our team."
Company Background:
Organic Recycling Systems Limited (BSE: 543997) is an integrated CleanTech and decarbonisation platform founded in 2008 and listed on the BSE SME platform in 2023. The company has two patents and 5+ proprietary technologies, with R&D partnerships with IIT Bombay, IIT Kharagpur, the University of Birmingham and AGH University of Science Technology, Poland. ORSL has stated its intention to transition to the BSE Main Board by October 2026.