BCL Industries Q2 Results: Net Profit Rises 50% To Rs 30 Cr; Revenue Surges 55% To Rs 746 Cr

Following the release of the company's strong financial results for the quarter ending September 30, 2024, BCL Industries' shares wrapped up 2.09% higher at Rs 56.67 per share on Tuesday. In the quarter under review, the firm declared a consolidated net profit of Rs 30 Cr, which was 50% higher year-on-year than the Rs 20 Cr in the year-ago quarter. In Q2FY25, its revenue from operations increased by 55% to Rs 746 Cr from Rs 481 Cr in Q2FY24.

The company's EBITDA reached Rs 57 Cr in the quarter under review up by 16% YoY from Rs 49 Cr in the same quarter of the previous fiscal year while the EBITDA margin dropped by 200 bps to 8% from 10% in Q2FY24.

BCL Industries said on Tuesday that its standalone net profit for the September quarter increased by 64% to Rs 21.01 Cr. According to an exchange filing, the company reported a loss of Rs 12.83 crore during the July-September quarter of the previous fiscal year, 2023-2024. The company's total income increased by 44% year on year to Rs 533.84 crore in the second quarter of the current fiscal from Rs 368.62 crore in the year-ago quarter.

On October 23, 2024, Oil Marketing Companies (OMCs) held a tender under the EBPP for the Ethanol Supply Year (ESY 24-25) at their various locations throughout the nation. BCL Industries Limited and its subsidiary M/s. Svaksha Distillery Limited participated in the tender. As part of their regular business operations, the group was given a quantity of 18.25 Cr. litres of ethanol for ESY 24-25, which was 16.94 Cr. litres of ethanol for ESY 23-24. Due to the additional 100 KLPD capacity expansion at M/s. Svaksha Distillery Limited for the fiscal year 2023-2024, the current allocation is almost 17% higher than the prior allocation.

BCL Industries Ltd. recently announced on 3rd October, 2024, that it is now in the process of acquiring M/s. Goyal Distillery Private Ltd. Goyal Distillery is situated in Fatehabad, Haryana, and has the land and permits needed to set up a 250 KLPD grain-based ethanol production facility. Through this strategic acquisition, BCL will be able to establish a 250 KLPD grain-based ethanol plant and a power plant that will use paddy straw as its main fuel source, allowing it to significantly increase its production capacity.

Therefore, after adding 150 KLPD to its Bathinda plant and 250 KLPD to its recently acquired Fatehabad (Haryana) facility, BCL's total distillery capacity would rise from its current 700 KLPD to 1100 KLPD. It is anticipated that this action would greatly solidify BCL's position as a pioneer in India's grain-based ethanol production industry. Following the transaction, "Goyal Distillery" will be fully owned by BCL Industries Ltd.