BCL Industries Shares In Focus On Acquiring Goyal Distillery To Expand Production Capabilities
BCL Industries’ share price is under scrutiny as it disclosed plans to acquire Goyal Distillery Pvt Ltd, enabling the establishment of a 250 KLPD grain-based ethanol plant in Haryana. This acquisition will increase BCL’s total distillery capacity to 1100 KLPD. Additionally, the company will build a 20 MTPD biogas plant, with a total CapEx of Rs 350 Cr.
The share price of BCL Industries will be closely watched because the company exclusively disclosed that it is in the process of acquiring Goyal Distillery Private Ltd, which is situated in Fatehabad, Haryana, and has the land and licenses required to build a 250 KLPD grain-based ethanol manufacturing facility.
Through this strategic acquisition, BCL will be able to establish a 250 KLPD grain-based ethanol plant and a power plant that will run mostly on paddy straw, thus substantially increasing its production capacities.
Consequently, after installing 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. This action is anticipated to greatly enhance BCL’s standing as a pioneer in India’s grain-based ethanol production industry. “Goyal Distillery” will become a fully owned subsidiary of BCL Industries Ltd. upon the acquisition.
Furthermore, BCL has devoted itself to improving its green energy programs. Additionally, the company aims to build a 20 MTPD biogas facility on a nearby 9-acre of land. This biogas facility will further solidify BCL’s commitment to sustainable energy solutions by using about 250 MT of paddy straw each day. The anticipated total capital expenditure (CapEx) for the distillery and biogas plant in Fatehabad, Haryana, is around Rs. 350 Cr.
In terms of financial matters, BCL Industries’ net profit increased by 21.48% to Rs 22.62 crore in the quarter that ended in June 2024 from Rs 18.62 crore in the quarter that ended in June 2023. Sales for the quarter ended June 2024 increased 48.29% to Rs 635.66 crore from Rs 428.67 crore in the corresponding quarter ended June 2023.
One of the largest agro-processing manufacturing firms in India, BCL Industries Limited has a variety of vertical integrations and commercial ventures. BCL Industries Limited was founded in 1976 and has since grown quickly, focussing on the industries of edible oils, rice milling, grain-based distillery, and real estate. On Thursday, the shares of BCL Industries closed 2.80% lower at Rs 56.64 per share with a market cap of Rs 1,671.81 Cr.
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