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Organic Recycling Systems Q2 FY27 results: net profit ₹15.80 crore, revenue up 157.4%
Organic Recycling Systems Limited reported consolidated revenue of ₹77 crore in Q2 FY27, up 157.4% from Q2 FY26, while EBITDA rose 60.1% to ₹19.26 crore. The EBITDA margin fell 15.2 percentage points to 25.0%, and basic EPS declined 25.3% to ₹10.45 despite a net profit of ₹15.80 crore.
Key points
- Consolidated revenue was ₹77 crore in Q2 FY27, up 157.4% from ₹29.91 crore in Q2 FY26.
- EBITDA rose 60.1% to ₹19.26 crore, but the margin fell 15.2 percentage points to 25.0%.
- Net profit was ₹15.80 crore, while basic EPS declined 25.3% to ₹10.45 from ₹13.98.
- Total expenses increased 239.4% to ₹60.88 crore, compared with ₹17.94 crore in Q2 FY26.
- On a standalone basis, revenue was ₹25.78 crore and PAT was ₹2.42 crore.
How did Organic Recycling Systems perform in Q2 FY27?
Organic Recycling Systems reported consolidated revenue of ₹77 crore for Q2 FY27, up 157.4% from ₹29.91 crore in Q2 FY26. EBITDA rose 60.1% to ₹19.26 crore, while the EBITDA margin fell 15.2 percentage points to 25.0% from 40.2%. Profit before tax increased 32.5% to ₹16.82 crore.
The company reported a net profit of ₹15.80 crore for the quarter and basic EPS of ₹10.45, compared with basic EPS of ₹13.98 in Q2 FY26. The previous-quarter comparison was not provided. On a standalone basis, Q2 FY27 revenue was ₹25.78 crore and PAT was ₹2.42 crore. The board approved the unaudited standalone and consolidated results for the half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q2 FY26 | YoY |
|---|---|---|---|
| Revenue from operations | 77 | 29.91 | +157.4% |
| Other income | 0.69 | 0.71 | −2.8% |
| Total expenses | 60.88 | 17.94 | +239.4% |
| EBITDA | 19.26 | 12.03 | +60.1% |
| EBITDA margin | 25.0% | 40.2% | −15.2 pp |
| Profit before tax | 16.82 | 12.69 | +32.5% |
| Tax | 1.02 | 0.58 | +75.9% |
| Net profit | 15.80 | ||
| EPS (₹) | 10.45 | 13.98 | −25.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Organic Recycling Systems' costs and profit?
Total expenses rose 239.4% to ₹60.88 crore from ₹17.94 crore in Q2 FY26. Employee cost increased 56.6% to ₹4.01 crore, finance costs rose 650.0% to ₹0.45 crore, and other expenses increased 0.4% to ₹7.68 crore. Cost of materials fell from ₹0.02 crore to ₹0 crore.
Other income decreased 2.8% to ₹0.69 crore from ₹0.71 crore, while tax expense increased 75.9% to ₹1.02 crore from ₹0.58 crore. There was no exceptional item. Profit before tax increased 32.5% to ₹16.82 crore, and the company reported a net profit of ₹15.80 crore. The filing attributed the half-year EBITDA margin decline primarily to higher purchases of stock-in-trade and changes in inventories of finished goods, work-in-progress and stock-in-trade.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0.02 | −0.02 | |
| Employee cost | 4.01 | 2.56 | +1.45 | +56.6% |
| Finance costs | 0.45 | 0.06 | +0.39 | +650.0% |
| Other expenses | 7.68 | 7.65 | +0.03 | +0.4% |
| Total expenses | 60.88 | 17.94 | +42.94 | +239.4% |
| Other income | 0.69 | 0.71 | −0.02 | −2.8% |
| Tax | 1.02 | 0.58 | +0.44 | +75.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹236.38 crore, compared with ₹210.35 crore at 31 March 2026, while total equity was ₹138.81 crore against ₹123.12 crore. Borrowings increased to ₹56.49 crore from ₹44.83 crore, and cash fell to ₹0.49 crore from ₹2.85 crore. Inventories were ₹5.02 crore, trade receivables ₹94.21 crore and trade payables ₹12.05 crore.
For H1 FY27, operating cash flow was negative ₹9.24 crore, compared with ₹12.65 crore in H1 FY26. Investing cash flow was negative ₹1.85 crore against negative ₹12.43 crore, while financing cash flow was ₹8.72 crore against negative ₹24.82 crore. Capital expenditure was ₹2.52 crore in H1 FY27, compared with ₹0.26 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 236.38 | 210.35 |
| Total equity | 138.81 | 123.12 |
| Borrowings | 56.49 | 44.83 |
| Cash and equivalents | 0.49 | 2.85 |
| Inventories | 5.02 | 9.70 |
| Trade receivables | 94.21 | 69.69 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −9.24 | 12.65 |
| Cash from investing | −1.85 | −12.43 |
| Cash from financing | 8.72 | −24.82 |
| Capital expenditure | 2.52 | 0.26 |
Source: Company's results filing (XBRL).
How has Organic Recycling Systems done over the last 6 quarters?
Revenue rose in each of the last four quarters, with the trend reaching ₹74.50 crore in Q4 FY26 and ₹77 crore in Q2 FY27. PAT was ₹12.98 crore in Q4 FY26 and ₹15.80 crore in Q2 FY27. The EBITDA margin increased from 20.9% in Q4 FY26 to 25.0% in Q2 FY27, after earlier ranging from 19.1% to 41.8%.
How did Organic Recycling Systems shares react?
| After the filing | Stock | Waste Management median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −1.0% | |
| 30 minutes | −1.4% | |
| Reaction day | −1.4% | +0.0% |
| Next day | +4.7% | −1.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 24 April 2026 | +3.7% |
| 12 November 2025 | +0.7% |
| 15 May 2025 | +18.6% |
| 27 May 2024 | +8.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Organic Recycling Systems' revenue in Q2 FY27?
Revenue from operations was ₹77 crore, up 157.4% from ₹29.91 crore in Q2 FY26 (consolidated).
Did Organic Recycling Systems make a profit in Q2 FY27?
Yes. Net profit was ₹15.80 crore.
What was Organic Recycling Systems' EPS in Q2 FY27?
Basic earnings per share were ₹10.45, against ₹13.98 in Q2 FY26.
How did Organic Recycling Systems shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.4% from the previous close; the median Waste Management stock moved +0.0%.
When did Organic Recycling Systems announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting Of The Board Of Directors Of Organic Recycling Systems Limited ('The Company') Is Scheduled To Be Held On Wednesday, October 28, 2026, At 10:30 A.M., (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results Of The Company For The Half Year Ended September 30, 2026. (BSE, 28 October 2026) · PDF
- Unaudited Standalone And Consolidated Financial Results Of The Company For The Half Year Ended September 30, 2026 (BSE, 28 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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