During an analyst and investors conference call to discuss the unaudited financial results of the company for the first quarter ended June 30, 2024, Kushal Mittal, Joint Managing Director at BCL Industries, emphasised the progress made by the company and its future plans.
With 4 decades of experience in grains procurement and processing, BCL operates one of India’s largest grain-based distilleries. Last quarter, company successfully commissioned a new 100 KLPD ethanol-dedicated plant at Svaksha in Kharagpur, increasing total distillery capacity to 700 KLPD. The new plant is operating efficiently and company expect it to meet its capacity utilization in the current quarter.
BCL predominantly uses maize for ethanol and ENA production and is among the first in the country to adopt this approach. This quarter, the robust maize harvest from Bihar has led to improved margins in this segment. Building expertise in maize processing and oil extraction, BCL is expanding into the biodiesel segment. With the government’s emphasis on biofuels, including the Ethanol Blending Program and the target of 5% biodiesel blending by 2030, BCL says it is well positioned to capitalize on this opportunity.
Kushal Mittal informed during the conference call that the company has made significant progress in establishing a 75 KLPD biodiesel plant at Bathinda. All necessary statutory clearances are in place, major orders have been finalized and the civil work is currently happening on site. This new plant will enable full backward and forward vertical integration, enhancing the value added of our maize-based ethanol production. Company will be utilizing technical maize oil derived from our maize as the primary raw material, further enhancing our operational efficiency and production capabilities.
He said, “As India’s biofuel demand are projected to triple, BCL itself for substantial growth. We are expanding in both ethanol and biodiesel markets and aim to increase our ethanol capacity to 850 KLPD over — in the next year.”
The company has demonstrated robust results across all areas. For this quarter total revenue reached Rs 660 crores marking a 47.3% increase year-on-year. EBITDA was at Rs 57 crores resulting in an EBITDA margin of 8.48%, up by 36% year-on-year. PAT stood at Rs 25 crores versus Rs 20 crores in the FY ’24 with PAT margin of 3.79%.
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