BCL Industries Procures 18.25 Cr Litres of Ethanol For ESY 24-25; Shares In Focus
BCL Industries Ltd. (BSE: BCL) has received approval for a 17% increase in its ethanol production quota for the ESY 2024-25 period, rising from 16.94 crore litres to 18.25 crore litres. This boost is attributed to its subsidiary, Svaksha Distillery Limited, which expanded capacity by 100 KLPD in FY2023-24. BCL’s stock rose 3.59% to Rs 57.69 following this news.
BCL Industries Ltd. (BSE: BCL) has become the recipient of a 17% increase in its approved 18.25 crore litres of ethanol for the ESY 2024-25 period. BCL became approved to produce 18.25 crore litres after being allowed 16.94 crore litres a year before ESY 2023-24. The increase is on the account of BCL’s subsidiary, M/s. Svaksha Distillery Limited, that increased capacity by 100 KLPD (kilolitres per day) in raise FY2023-24. This increase in production highlights the increasing prominence of BCL in the ethanol market in India being one of the major plays in the ethanol industry.
BCL Industries stock rose by 3.59% on Thursday and closed at 57.69 Rs with the previous close being 55.77 Rs and a high range of 57.93 in day trading. The maximum level registered in the stock during its 52 weeks trading mark is Rs 86.30 which has been compared to a low of Rs 45.14 during the period.
Strategic Acquisition of Goyal Distillery As part of its growth strategy, BCL Industries has been taken over by Goyal Distillery Private Ltd. a company based in Fatehabad, Haryana and this move is geared towards expanding its production efficiencies and capabilities. The acquisition marks an essential milestone in BCL’s growth strategy as it provides the firm the opportunity to set-up a 250 KLPD grain-based bio-ethanol plant. The purchase also includes a power plant, with the plant’s building and licence for commissioning already in place enabling rapid commissioning of the facility.
BCL’s scope regarding renewable energy goes further than just the production of ethanol. The ethanol producing firm will soon begin constructing a biogas plant beside the distillery, which will make use of paddy straw as a feedstock. This biogas plant will cut back on waste production and allow for the creation of clean energy, consistent with BCL’s objective to reduce its impact on the environment. The total funding for the said projects stands at around Rs 350 crore, with the construction commencing within 20 months of breaking the ground. BCL Industries is now sustaining the positive trend of its financials. The profit of the company escalated by 24.1% and stood at Rs 24.51 crore as compared to Rs 19.75 crore in the same quarter last year.
BCL may take pride in its net sales during the fiscal year that ended in 2024, which increased by 21% to Rs 2200.62 crores from Rs 1819.92 crore in FY23. For the fiscal year ending in 2024, net profit increased from Rs 64.36 crore to Rs 95.92 crore over the previous year. These impressive outcomes highlight BCL’s prowess in seizing market expansion prospects, particularly in the ethanol and renewable energy sectors.
Source Link : https://www.goodreturns.in/news/bcl-industries-procures-18-25-cr-litres-of-ethanol-for-esy-24-25-shares-in-focus-1384007.html
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