Ethanol Stock Under Rs 100: BCL Industries shares rise 7% after Q2 results – Details
BCL Industries shares surged over 7% following a strong Q2 performance, with net profit increasing by 54% to Rs 27.65 crore. The stock rose to a high of Rs 59.40 after opening at Rs 55.45. Sales also grew by 50% to Rs 721.28 crore. The company recently underwent a 10:1 stock split and remains a leader in ethanol production in India and South Asia. The stock has shown impressive long-term returns, gaining 672% over the past five years.
Ethanol Stock Under Rs 100: BCL Industries shares on Tuesday climbed more than 7 per cent following a stellar show in the September quarter. The ethanol maker’s shares opened flat at Rs 55.45 and went on to make a high of Rs 59.40, up 7.12 per cent against the yesterday’s close of Rs 55.45 on NSE.
Around 3 PM, the stock traded firmly in the green with a gain of 2 per cent at Rs 56.80 with 52.69 lakh equities changing hands. The counter is gaining for the last two consecutive sessions and trading higher than 5-day and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.
BCL Industries Q2 Results
The rally in the stock came on the back of 54 per cent jump in the company’s consolidated net profit in Q2. The net profit in the quarter stood at Rs 27.65 crore as against Rs 17.96 crore reported during the same quarter a year ago.
The firm’s sales during the reporting three-month period rose 50 per cent to Rs 721.28 crore as against Rs 480.71 crore during the corresponding quarter of FY20204.
BCL Industries trimmed its total expenses to Rs 417.09 crore, compared to Rs 534.88 crore a year ago.
BCL Industries Share Price History
BCL Industries shares have climbed 11 per cent in the last year and 73 per cent in two year. The ethanol maker’s stock has yielded multibagger return of 141 per cent in the last three years. The counter has made its shareholders richer by whipping 672 per cent in the last 5 years and 1,249 per cent in 10 years.
In October 2023, the company had split the face value of its equity shares in the ratio of 10:1, meaning each stock of Rs 10 face value was split into 10 shares of Re 1.
BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant.
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