Ethanol maker BCL Industries announces fresh acquisition, to set up biogas plant in Haryana
BCL Industries has acquired Goyal Distillery in Haryana, gaining land and permissions to establish a 250 KLPD grain-based ethanol unit. This acquisition will boost BCL’s total ethanol production capacity to 1,100 KLPD. The company also plans to build a 20 MTPD biogas plant using paddy straw and invest Rs 250 crore in both projects. Operations are expected to start in 20 months. BCL Industries’ shares have shown strong performance, with significant gains over the past five years.
BCL Industries: In its bid to strengthen the position in the grain-based ethanol manufacturing sector, ethanol maker BCL Industries has announced the acquisition of Goyal Distillery, based out of Fatehabad in Haryana.
BCL said that Goyal Distillery possesses the necessary land and permissions for establishing a 250 KLPD grain-based ethanol unit.
“This strategic acquisition will enable BCL to further expand its production capabilities by setting up a 250 KLPD grain-based ethanol plant along with a power plant that will utilize paddy straw as the primary fuel source,” the company said in a statement, adding that the distillery can be commissioned in nearly half of the time generally required as all necessary clearances are already in place.
As a result, BCL’s total distillery capacity will increase from present 700 KLPD to 1100 KLPD after the addition of 150 KLPD in its Bathinda unit and 250 KLPD at the newly acquired Fatehabad unit, the statement further said. Post acquisition, Goyal Distillery will become a wholly owned subsidiary of BCL Industries.
In another related development, BCL Industries said that it is committed to enhancing its green energy initiatives. It has announced plans to establish a biogas plant having around 20 MTPD capacity on an adjacent 9-acre plot of land in Haryana. It will invest around Rs 250 crore to set up the the distillery and biogas plants .
Both the distillery and biogas plants are expected to start operations about 20 months from the date of ground breaking.
BCL Industries is a constituent of BSE SmallCap index. Its shares closed in the red at Rs 56.64 on Thursday, down 2.80 per cent. As per analytics, the ethanol stock has climbed 10 per cent in the last one year and 68 per cent in two years. The counter has yielded a multibagger return of 146 per cent in three years and 644 per cent in five years.
The company commands a market cap of Rs 1,671.81 crore.
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