Promoters bought 2,28,13,340 shares: Multibagger penny stock under Rs 70 is in focus as the company is in the process of acquiring Goyal Distillery Pvt Ltd
The stock gave multibagger returns of 650 per cent in 5 years and a whopping 1,155 per cent in a decade.
On Thursday, shares of BCL Industries Ltd jumped plunged 2.80 per cent to Rs 56.64 per share with an intraday high of Rs 58.14 and an intraday low of Rs 56.11 from its previous closing of Rs 58.27. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 45.70.
BCL Industries Ltd. (BCL) is excited to announce its strategic acquisition of Goyal Distillery Private Ltd. This acquisition marks a significant milestone in BCL's growth trajectory, enabling the company to expand its grain-based ethanol production capacity. The acquisition of Goyal Distillery, located in Fatehabad, Haryana, will allow BCL to establish a 250 KLPD grain-based ethanol plant along with a power plant. The distillery's existing clearances and infrastructure will expedite the commissioning process, further solidifying BCL's position as a leading player in the Indian ethanol market.
In addition to the distillery, BCL has ambitious plans to establish a biogas plant on an adjacent plot of land. This biogas plant will utilize paddy straw as fuel, reinforcing BCL's commitment to sustainable energy solutions. By leveraging the waste products from the distillery, BCL aims to generate clean energy and reduce its environmental footprint. The total capital expenditure for this project is estimated at Rs. 350 crore, with an expected timeline of 20 months from the date of groundbreaking.
This strategic investment aligns with BCL's broader vision of sustainable growth and diversification. By expanding its ethanol production capacity and investing in renewable energy solutions, BCL is well-positioned to capitalize on the growing demand for sustainable fuels and contribute to India's energy transition.
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About the Company
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 1,670 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 47.66 per cent to Rs 658.51 crore and net profit increased by 24.1 per cent to Rs 24.51 crore in Q1FY25 compared to Q1FY24. 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.
In Q1FY25, Promoters of the company bought 2,28,13,340 shares and increased their stake to 59.47 per cent compared to 56.08 per cent in March 2024. Additionally, an ace investor, Sangeetha S own a 1.13 per cent stake in the company as of June 2024. The stock gave multibagger returns of 650 per cent in 5 years and a whopping 1,155 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.