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Organic Recycling Systems Ltd (ORSL) has approved the acquisition of Industrial Associates, a chemical trading and distribution partnership firm, for a cash consideration of ₹14.83 crore, giving ORSL a 99.99% stake in profits. The target firm reported FY25 revenue of ₹51.90 crore and PAT of ₹0.58 crore, with consistent turnover of ₹50-52 crore over FY23-FY25. Industrial Associates, founded in 1981 and reconstituted as a partnership in 2008, deals in industrial chemicals like Soda Ash and Trichloroethylene, with a strong presence in Maharashtra and Gujarat and a warehouse in Bhiwandi. The deal is not a related party transaction and is expected to be completed within 60 days via a Capital Contribution Agreement.
This acquisition gives ORSL access to an established chemical distribution network, warehousing infrastructure, and supply chain synergies that support its biogas catalyst and CBG production business. For shareholders, the deal is moderately sized relative to the target's revenue base but the strategic logic (distribution channel and green chemicals supply) could support future revenue growth if integration goes well.