Multibagger Stock BCL Industries Sets Record Date For 1:10 Stock Split

On Thursday, BCL Industries opened higher on BSE at Rs 506.05 apiece and rallied to Rs 516.45 logging a gain of 4.34% from the previous close. The small-cap FMCG company is in focus as the Board of Directors has fixed Friday October 27, 2023 as the record date for stock split.

"Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosures Requirements) Regulations, 2015 as amended from time to time, it is hereby informed that, today the Board of Directors of the Company has passed the necessary Resolution by circulation to ϐix the "Record Date" on Friday, October 27, 2023 for the purpose of Sub-Division of every 1 (One) Equity Share having nominal/face value of Rs. 10/- (Rupee Ten Only) each be sub-divided into 10 (Ten) Equity Shares having nominal/face value of Rs. 1/- (Rupee One Only) each fully paid-up," said BCL Industries in a stock exchange filing.

BCL Industries recently revealed plans to expand the group's distillery to 850 KLPD during the next two years. In an investor presentation on BSE, BCL Industries stated that the company has goals to increase its capacity. According to the filing, the company aims to increase its total production capacity to 850 KLPD over the course of the next two years in response to growing demand. Regarding the development plan at its West Bengal factory, it has been reported that the company aims to capitalize on the North-Eastern India ENA supply-demand deficit scenario and that a 200 KLPD state-of-the-art ENA plant has been constructed at Kharagpur. Under its subsidiary Svaksha Distillery Limited, the facility was established. By December 2023, it plans to commission this expansion, which would cost about Rs 90 crore. Regarding the expansion of its Bathinda facility, the company stated that the 200 KLPD ethanol-specific unit was already put into operation in July. The project's overall price estimate is close to Rs 205 crore.

The stock price jumped from Rs 110.80 to the current market price during the past five years, resulting in a multibagger return of 386%. The stock price climbed from Rs 59.05 to the current market price during the past three years, resulting in a multibagger return of 764%. The stock has gone up by 50% over the past year, and so far in 2023, it has climbed by 60% YTD. On the BSE, the stock made a 52-week-high of Rs 588.00 (18/09/2023) and a 52-week-low of Rs 276.15 (15/11/2022), indicating that the share price of BCL Industries is currently trading 11.98% below the 1 year high and 87.39% above the 1 year low. During Q2FY24, the company reported promoters' shareholding of 61.31% and public stake of 38.70%.