Ethanol producer BCL Industries Ltd on Wednesday announced its financial results for the fourth quarter and full year ended Mar 31, 2024.
Performance overview:
According to the exchange filing, the consolidated revenue from operations in January-March quarter of financial year 2024 grew by around 40 per cent YoY to Rs 613 crore. The company’s revenue stood at Rs 456 crore in the same quarter a year ago.
Quarterly Net Profit at around 23 crore in March 2024 compare to around 24 crore in March 2023.
BCL Industries EPS has decreased to Rs. 0.85 in March 2024 from Rs. 10.06 in March 2023.
Consolidated financial result
Board took note that the additional 200 KLPD ethanol production plant at Bathinda unit which was commissioned in June 2023 has now been fully stabilized and total 400 KLPD is currently running at its rated/full capacity. The rice straw-based power plant also has been stabilized and is giving substantial cost savings to the Company and its effect will be seen in the financial performance of the Company in the current financial year 2024-25. Taking forward the growth strategy of the Company and post receipt of all statutory clearances, Board of Directors have approved the installation of a 75 KLPD Biodiesel production Plant at an estimated capex of Rs. 160 Crores at its Bathinda Distillery Unit. Civil work for the same has already been started and the plant is expected to be commissioned within next 12 months.
It also took note that the existing capacity of 200 KLPD ethanol production plant at Kharagpur unit continues to run at its rated/full capacity. Board further noted the successful commissioning of additional 100 KLPD ethanol production plant at ‘Svaksha Distillery Limited’ (Subsidiary of the Company) which marked the completion of 2nd Phase of the plant. With this expansion, the total capacity at ‘Svaksha’ now stands at an impressive 300 KLPD, reflecting the company’s commitment to growth and efficiency. It was further noted that with the commissioning of additional 100 KLPD plant at Kharagpur, the total installed capacity at group level is now 700 KLPD and the Board is pleased to note that the Company is having full order book from Oil Marketing Companies till Q4 of the ethanol supply year which ends on 30/11/2024.
The board also recommended a dividend payout of 25 per cent on each stock of Re 1 face value.
