Share price of this micro-cap stock and a leading player in sustainable technology solutions, moved up by nearly 9.2 percent on BSE to Rs. 231 in the trading session of Thursday, compared to its previous closing price of Rs. 211.55, after announcing its entry into the Middle East market.
With a market capitalisation of Rs. 171.7 crores, at 01:03 p.m. the shares of Organic Recycling Systems Limited were trading in the green at Rs. 223, up by 5.41 percent.
According to recent regulatory filings with the BSE, Organic Recycling Systems Limited (ORS), having signed a Memorandum of Agreement (MOA) with BioCatalyst—the authorised Middle East distributor and service provider for Bio Organic Catalyst Inc., based in California, USA—is ready to enter the Middle Eastern market.
The MOA establishes the terms under which ORS and BioCatalyst will cooperate jointly in the marketing and business development of several centralised and decentralised Waste Management (MSW) projects.
Through this strategic collaboration, the partners seek to reform waste management, treatment and disposal processes in the Middle East by introducing and promoting innovative technologies and practices.
Together, ORS and BioCatalyst hope to become major players in the waste management industry in the Middle East by combining their strengths in marketing, business development, and technical expertise to provide solutions that are not only practical but also sustainable and profitable.
In terms of financials, the company’s revenue from operations grew by nearly 69.2 percent YoY from Rs. 14.61 crore in FY21-22 to Rs. 24.72 crore in FY22-23, accompanied by an increase in the net profit by 168.2 percent to Rs. 3.65 crore in FY22-23 from a loss of Rs. 5.35 crore.
The company has delivered negative returns of nearly 1.22 percent in the last six months and around 5.8 percent so far in 2024.
Established in 2008, Organic Recycling Systems Limited (ORS) is a pioneering engineering firm specialising in environmental solutions, offering comprehensive waste management solutions across various waste types and the entire value chain.
Written by Shivani Singh
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