BCL Industries, a small-cap stock trading under ₹100, surged following a significant business update. The company announced expansion plans across its subsidiaries, aimed at boosting its renewable energy capabilitiesm the company announced in an exchange filing on December 17, 2024.
BCL Industries share price was trading in the green, up 0.72 per cent at ₹52, on December 18, at 2:19 pm. The company enjoys a market capitalisation of ₹1,534.85 crore, as per BSE.
What is the new development?
According to a disclosure dated December 17, 2024, BCL Industries revealed that its subsidiary, Svaksha Distillery Limited, received consent to establish a 75 KLPD (kilo-liters per day) bio-diesel plant alongside an oil extraction unit at its Kharagpur facility. The project is pegged at an estimated cost of ₹150 crore. Additionally, the company secured environmental clearance to set up a 150 KLPD ethanol manufacturing plant at its Bathinda unit, with work scheduled to commence in the coming months.
“We are pleased to inform that M/s. Svaksha Distillery Limited (subsidiary company) in its normal course of business has received consent to establish a 75 KLPD Bio-Diesel plant along with an oil extraction plant at its Kharagpur unit with an estimated project cost of INR 150 Cr,” the company said in an exchange filing.
Construction on another 75 KLPD bio-diesel plant at the Bathinda facility is progressing rapidly, reaffirming the company’s commitment to green energy initiatives.
BCL Industries financial results
BCL Industries net profit at ₹29.87 crore during the July-September 2024 quarter grew more than 50 per cent over ₹19.67 crore in the Year ago quarter. On Sequential basis also BCL Industries Net profit jumped more than 45% from ₹20.51 crore reported in the April to June 2024 quarter at the consolidated level.
BCL Industries’ revenues from operations at ₹746.13 crore during the July- September 2024 quarter also increased 55% over ₹480.70 crore reported in the Year-end quarter. On a sequential basis, it also increased by 13.4% over ₹658.21 crore in the year-ago quarter.
