BCL Industries Shares Rally 10% On Rs. 561 Cr Order Win From OMCs For Ethanol Supply

On Monday, the shares of BCL Industries opened on the BSE at Rs 54.56 apiece and reached an intraday high of Rs 60.25 clocking a gain of 10.42%. The stock was seen trading 8.36% higher at Rs 58.60 apiece while writing this copy after the company announced winning a Rs. 561 Cr order deal from Oil Marketing Companies (OMCs) for supplying ethanol.

"This is to inform you that the Company along with its subsidiary Company (M/s. Svaksha Distillery Limited) had participated in a tender floated by Oil Marketing Companies (OMCs) inviting various molasses and grain based distilleries for supplying Ethanol during Ethanol Supply Year (ESY) commencing from 01/11/2023 till 31/10/2024 at their various locations across the country," said BCL Industries in a stock exchange filing.

Orders totalling 2.48 KL to be supplied between November 23 and January 24 and 2.48 KL to be supplied between February 24 and April 24 have been received by BCL Industries Ltd. This amounts to 4.96 lac liters, valued at Rs. 339 crores. Orders for supplies of 1.44 KL from November 23 to January 24 and 1.80 KL from February 24 to April 24 have been received by Svaksha Distillery Limited. This amounts to 3.24 lac liters, valued at Rs. 222 crores.

"In addition to above M/s. Svaksha Distillery Ltd. has also bagged an order to supply 0.1 Lac ltr of Ethanol to Reliance Industries Ltd. with an order value of INR 6.73 Cr," said BCL Industries in a regulatory filing.

For the September quarter of 2023-24, BCL Industries reported a consolidated net profit of Rs 19.67 crore. The company disclosed in a regulatory filing that it had recorded a loss of Rs 81 lakh during the same period last year. From Rs 455.24 crore in Q2FY23 to Rs 482.72 crore in Q2FY24, total income grew. The firm reported a drop in expenses from Rs 456.52 crore in the year-ago period to Rs 452.40 crore in Q2FY24.

One of the largest agro-processing manufacturing firms in India, BCL Industries Limited is also engaged in the business of edible oils, rice milling, grain-based distillery and real estate. A publicly traded company with operations in West Bengal and Punjab is BCL Industries Limited.