Ethanol producer BCL Industries announces financial results
BCL Industries Ltd reports a robust growth in Q4 FY2024 with consolidated revenue reaching Rs 613 crore, up by 40% YoY. However, quarterly net profit slightly dipped to around Rs 23 crore compared to Rs 24 crore in Q4 FY2023. EPS decreased to Rs 0.85 from Rs 10.06. The board approved a 75 KLPD Biodiesel production plant at an estimated Rs 160 Crores capex and recommended a 25% dividend payout.
Ethanol producer BCL Industries Ltd on Wednesday announced its financial results for the fourth quarter and full year ended Mar 31, 2024.
According to the exchange filing, the consolidated revenue from operations in January-March quarter of financial year 2024 grew by around 40 per cent YoY to Rs 613 crore. The company’s revenue stood at Rs 456 crore in the same quarter a year ago.
Consolidated financial result
Quarterly Net Profit at around 23 crore in March 2024 compare to around 24 crore in March 2023.
BCL Industries EPS has decreased to Rs. 0.85 in March 2024 from Rs. 10.06 in March 2023.
Board took note that the additional 200 KLPD ethanol production plant at Bathinda unit which was commissioned in June 2023 has now been fully stabilized and total 400 KLPD is currently running at its rated/full capacity. The rice straw-based power plant also has been stabilized and is giving substantial cost savings to the Company and its effect will be seen in the financial performance of the Company in the current financial year 2024-25. Taking forward the growth strategy of the Company and post receipt of all statutory clearances, Board of Directors have approved the installation of a 75 KLPD Biodiesel production Plant at an estimated capex of Rs. 160 Crores at its Bathinda Distillery Unit. Civil work for the same has already been started and the plant is expected to be commissioned within next 12 months.
The board also recommended a dividend payout of 25 per cent on each stock of Re 1 face value.
Click here to read the complete financial result
Source Link: https://www.chinimandi.com/ethanol-producer-bcl-industries-announce-financial-results/
