BCL Industries Q3 Result: Profit jumps over 2-fold at Rs 24 cr

Punjab-based agri-firm BCL Industries on Friday reported a two-fold jump in consolidated net profit at Rs 24.15 crore for the quarter ended December 2021.

The company had posted a net profit of Rs 10.11 crore in the year-ago period.The company said its sales revenue rose 42 per cent to Rs 563.41 crore in the December 2021 quarter as compared to Rs 397.85 crore during the quarter ended December 2020.

BCL Industries further said it plans to double its ethanol distillation capacity and the ethanol blending with petrol (EBP) will double by 2025.

The company is expanding its Bathinda unit by setting up another plant of 200 Kilo Litre Per Day (KLPD) capacity.

The work for the Bathinda plant is ongoing in full swing, it said, and added that after commencement of commercial production in at the new plant, the total capacity of the company in Bathinda will increase to 400 KLPD.

The company also informed that its subsidiary Svaksha Distillery is also setting up a 200 KLPD ethanol plant and the commercial production will start before March.

The subsidiary has also got an environment clearance from the central government for enhancing the capacity by another 100 KLPD.

On completion of expansion in the parent and subsidiary, BCL said its total capacity will reach 700 KLPD.

The company will then become one of the largest producers of ethanol from grains in the private sector in India.

Shares of the company closed at Rs 469 apiece on BSE, up 4.99 per cent.

The Bhatinda-based company is into various businesses including, edible oil, distillery-ethanol, and real estate.