Promoters bought 2,28,13,340 shares in Q1: Multibagger penny stock under Rs 70 gains over 6 per cent as the company announces stellar quarterly results; details inside!
The stock gave multibagger returns of 810 per cent in 5 years and a whopping 1,950 per cent in a decade.
Today, shares of BCL Industries Ltd gained 6.2 per cent to an intraday high of Rs 62.50 per share from its previous closing of Rs 58.86. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 44.44.
BCL Industries Limited is one of India’s largest agro-processing manufacturing companies with diverse businesses and vertical integrations. Established in 1976, BCL Industries Limited is engaged in edible oils, rice milling, grain-based distilleries and real estate. It is present in Punjab and West Bengal. BCL Industries Ltd Limited is a part of the Mittal group with a market cap of Rs 1,505 crore. The company's expansion is paying off. The Bathinda unit's new plant doubled its ethanol production capacity, and a new plant in Kharagpur along with a subsidiary's expansion boosted total capacity to 700 KLPD. This strong growth is meeting high demand, with a full order book from Oil Marketing Companies until November 2024.
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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 810 per cent in 5 years and a whopping 1,950 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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