Micro cap stock jumps 15% after company’s net profit increased by 186% in H2FY24

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Micro cap stock jumps 15% after company’s net profit increased by 186% in H2FY24
Credit: © Reuters.

Recycling stock specializing in environmental solutions, offering comprehensive waste management solutions across various waste types, and the entire value chain jumped 15 percent in the day’s trade upon posting its Q4FY24 results with a 186 percent jump in Net Profits.

With a market capitalization of Rs. 204 Crores, the shares of Organic Recycling Systems Limited were trading at Rs. 262.05, up 11.96 percent from its Previous day’s close price of Rs, 234.05.

Its Revenue from Operations half yearly grew by 18.61 percent from Rs. 12.57 Crores in H1FY24 to Rs. 14.91 Crores in H2FY24. Annually it generated a revenue of Rs. 24.71 Crores in FY23 to Rs. 27.48 Crores in FY24, indicating a growth of 11 percent.

Its Net profit half yearly grew by 186 percent from Rs. 2.01 Crores in H1FY24 to Rs. 5.75 Crores in H2FY24. Annually it generated a Net Profit of Rs. 3.65 Crores in FY23 to Rs. 7.76 Crores in FY24, indicating a growth of 113 percent.

Its Product Division achieved Commercialising the Sanjeevak carbonisation systems for treating biomass waste and the launch of GAC-01, making its entry into the activated carbon market. The sale of Sanjeevak carbonization systems will increase the product pipeline and the resulting production of activated carbon and subsequent sale agreements will provide additional revenue streams.

Its Consulting Division has begun commercial operations with orders to execute a detailed feasibility report for PSU and Project developers for developing and establishing waste-to-compressed biogas projects.

It has achieved an important milestone in deepening its technological edge in compressed biogas capabilities. It has entered into an MOU with Sardar Swaran Singh – National Institute of Bioenergy, to establish a pilot for the production of microbial culture for enhancing biogas production from Napier grass, which is being looked upon as a major feedstock/raw material for compressed biogas projects.

Commenting on the results Mr. Sarang Bhand, Managing director, “FY24 has been a positive year for Organic Recycling Systems Limited. In FY24, our total income increased by 10 percent to Rs. 2,779.62 lakhs in FY24 as compared to Rs. 2,534.10 in FY23.

CompanyPAT has substantially increased by 113 percent to Rs. 776.90 lakhs in FY24 as against PAT of Rs. 365.38 lakhs in FY23. The Consolidated PAT has been powered by incremental growth and efficiencies in the operating subsidiaries

Strategically aligned, ORSL is poised for strong and sustained growth, with a focus on diversifying our product range and delivering top-notch quality solutions in the cleantech sector and conversion of a fraction of municipal solid waste, agro waste, hard-to-digest lignocellulosic biomass waste into valuable/reusable products.

With these positive advancements, we are poised to undertake large Technology EPC (TEPC) projects/opportunities in waste management sector, including through various SPVs and we remain confident in our capability to consistently deliver strong results for all our stakeholders in the times ahead.”

Organic Recycling Systems Limited (ORS) is a pioneering engineering firm specializing in environmental solutions, offering comprehensive waste management solutions across various waste types and the entire value chain.

Written by Bharath KS

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