Multibagger penny stock under Rs 60 & FIIs increase stake: This FMCG company reports a 49 per cent jump in net profit of Rs 95.92 crore

The stock gave multibagger returns of 303 per cent in 3 years and a whopping 2,380 per cent in a decade.

Today, shares of BCL Industries Ltd surged 3.03 per cent to an intraday high of Rs 59.55 per share from its previous closing of Rs 57.80. The stock’s 52-week high is Rs 86.25 while its 52-week low is Rs 42.70. The shares of the company saw a spurt in volume by more than 3 times on BSE.

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 1,494 crore.  

According to Quarterly Results, the net sales increased by 34.3 per cent to Rs 613.65 crore in Q4FY234 compared to Rs 456.96 crore in Q4FY23. The company reported a net profit of Rs 23.71 crore in Q4FY24 compared to net sales of Rs 24.60 crore in Q4FY23. In its annual results, the net sales increased by 20.1 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 FY23 compared to Rs 64.36 crore in FY23.

The Board of Directors acknowledged the successful expansion and stabilization of the Bathinda unit. The additional 200 KLPD ethanol production plant, commissioned in June 2023, is now fully operational, bringing the total capacity to 400 KLPD. This expansion contributes significantly by running at its full rated capacity. Furthermore, the rice straw-based power plant has also achieved stable operations, resulting in substantial cost savings for the company. These positive developments are expected to be reflected in the company's financial performance for the current financial year (2024-25).

Also Read: Multibagger cable stock at Rs 75.62 with Rs 443.5 crore order book hit upper circuit on May 22; Spurt in volume by more than 5 times on BSE

The Board also emphasized the company's commitment to growth and efficiency. At the Kharagpur unit, the existing 200 KLPD ethanol plant continues to operate at full capacity. Additionally, the successful commissioning of a 100 KLPD plant at Svaksha Distillery Limited (a subsidiary) marked the completion of the plant's second phase, bringing its total capacity to an impressive 300 KLPD. This expansion, along with the additional 100 KLPD plant in Kharagpur, has increased the group's total installed capacity to 700 KLPD. Notably, the company has a full order book from Oil Marketing Companies until the end of Q4 of the ethanol supply year (November 30, 2024), highlighting strong demand for their product.

An ace investor, Sangeetha S own a 1.23 per cent stake in the company as of March 2024 while Foreign Institutional Investors (FIIs) bought a 6 per cent stake in the company and increased their stake to 6.41 per cent in FY24 compared to 0.41. per cent in March 2023. According to shareholding patterns as of March 2024, the promoters own 56.08 per cent, FIIs own 6.41 per cent and the public owns 37.51 per cent stake in the company.

The stock gave multibagger returns of 303 per cent in 3 years and a whopping 2,380 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.