Organic Recycling Systems Limited (ORSL) has secured its third Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) contract from Bharat Petroleum Corporation Limited (BPCL) within a single week, further accelerating its expansion across India's compressed biogas (CBG) sector. The latest Letter of Acceptance, dated 08 September 2026, has been awarded to ORSL's wholly owned subsidiary, Solapur Bioenergy Systems Private Limited (SBESPL), for an organic municipal solid waste-based CBG plant at Kozhikode, Kerala, with a total contract value of ₹92.41 crore (~US$9.78 million), inclusive of GST. The award follows the first two contracts for Mysuru and Raipur, which were awarded on 03 September and 04 September 2026 respectively, with the Kozhikode award following just five days later. ORSL shares surged 5.03% to ₹189 following the contract announcement, reflecting strong market confidence in the company's growth trajectory.
The latest award brings ORSL's cumulative EPCOM contract wins from BPCL to three projects worth an aggregate ₹259.71 crore (USD 27.48 million), spanning Karnataka, Chhattisgarh and Kerala. As reported by Business Standard, these projects add approximately 9.8 TPD of aggregate CBG processing capacity to ORSL's portfolio. The Mysuru facility is planned at around 5 TPD capacity, while the Raipur facility is expected to have capacity of approximately 4.8 TPD. The Kozhikode facility adds another significant capacity component to ORSL's expanding CBG operations across three major Indian states. The combined processing capacity of all three projects reaches approximately 14.8 tonnes per day, with each facility carrying a five-year Operations & Maintenance (O&M) mandate.
The contracts encompass the complete lifecycle of the plants from engineering, procurement and construction through commissioning and long-term operations and maintenance. According to the regulatory filing, both projects are scheduled for completion within 15 months from the respective Letters of Acceptance. The Kozhikode contract specifically covers engineering, procurement, construction and commissioning of the plant, followed by five years of comprehensive operations and maintenance. Each contract carries a five-year Operations & Maintenance (O&M) mandate, together representing approximately 15 cumulative plant-years of contracted, annuity-style operating revenue once all three facilities are commissioned. This operational model allows waste that would otherwise require conventional disposal to be processed into a usable fuel, linking waste management with renewable energy production.
The contract wins come on the back of ORSL's robust financial performance in H2 FY26. The company reported a 46.01% increase in consolidated net profit to ₹12.98 crore on a 141.73% surge in net sales to ₹74.50 crore compared with H2 FY25. This strong financial foundation positions ORSL well to execute these new contracts and continue its growth trajectory in the CBG sector. The company operates as an environmental engineering firm focused on sustainable waste management and resource recovery solutions, having founded in 2008 and developing technologies across the waste value chain including biomethanation and bioenergy generation. ORSL also maintains an O&M contract for a CBG plant in Gorakhpur with Indian Oil Corporation, further expanding its engagement with public-sector oil marketing companies.
