Multibagger Ethanol Stock Under Rs 60 In Green As Company Reports Stellar Quarterly & Half-Yearly Results Ending September 30, 2024

Multibagger Ethanol Stock Under Rs 60 In Green As Company Reports Stellar Quarterly & Half-Yearly Results Ending September 30, 2024

Kiran Shroff

The stock gave multibagger returns of 700 per cent in 5 years and a whopping 1,450 per cent in a decade.

On Wednesday, shares of BCL Industries Ltd jumped 2.68 per cent to Rs 58.19 per share from its previous closing of Rs 56.67. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 46.

BCL Industries Limited, a prominent agro-processing company established in 1976, operates across edible oils, rice milling, grain-based distilleries, and real estate in Punjab and West Bengal. A part of the esteemed Mittal Group, the company boasts a market capitalization of over Rs 1,700 crore. BCL Industries Limited's strategic expansion has yielded impressive results, with a new plant at the Bathinda unit doubling its ethanol production capacity and another new plant in Kharagpur, along with a subsidiary expansion, boosting the total capacity to an impressive 700 KLPD. This growth aligns perfectly with the increasing demand for ethanol, as evidenced by a full order book from Oil Marketing Companies extending until November 2024.

According to Quarterly Results, the net sales increased by 55.2 per cent to Rs 746.13 crore and net profit increased by 51.9 per cent to Rs 29.87 crore in Q2FY25 compared to Q2FY24. In its annual results, the net sales increased by 21 per cent to Rs 2,200.62 crore in FY24 compared to Rs 1,819.92 crore in FY23 while the net profit increased by 49 per cent to Rs 95.92 crore in FY24 compared to Rs 64.36 crore in FY23. Looking at its half-yearly results, the net sales increased by 54.5 per cent to Rs 1,404.64 crore and net profit increased by 38  per cent to Rs 54.38 crore in H1FY25 compared to H1FY24.

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Earlier, BCL Industries Limited along with its subsidiary Svaksha Distillery Limited had participated in a tender floated by Oil Marketing Companies (OMCs) under EBPP for Ethanol Supply Year (ESY 24-25) at their various locations across the country and the group, in its normal course of business, has been allocated with a quantity of 18.25 crore litres of Ethanol for ESY 24-25 which was 16.94 crore litres of Ethanol for ESY 23-24. The present allocation is about 17% higher than the previous allocation and it can be attributed to the additional 100 KLPD capacity addition Svaksha Distillery Limited during the financial year 2023-24.

An ace investor, Sangeetha S own a 1.13 per cent stake in the company as of September 2024. The stock gave multibagger returns of 700 per cent in 5 years and a whopping 1,450 per cent in a decade.

Disclaimer: The article is for informational purposes only and not investment advice. 

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