Shares of BCL Industries gained on Monday after the company bagged orders to supply ethanol to major oil marketing companies (OMCs) like Reliance Industries and others. Supply Order Total Approx. 661 crores. On Dalal Street, shares of BCL climbed over 4% in early hours as investors gave a thumbs up to the development. The stock is trading near its day’s high.
BCL shares traded at around 11.04 am above 388 10.75 or 2.85% on BSE. Shares climbed at least 4.17% with an intraday high of 393 each. bcl is a little hat and its current market valuation is high 937 crores.
In its regulatory filing, BCL Industries said that the company along with its subsidiary had participated in a tender floated by OMCs on October 18, 2022— where various molasses and grain based distilleries were invited to supply . ethanol For the period from 1st December, 2022 to 31st October, 2023.
In the first round of offerings, BCL has been allocated around 4.9 crore liters of ethanol from its manufacturing unit at Bathinda (Punjab), with an order value of approx. 285 crores, which is to be supplied to the OMCs.
Additionally, the company’s distillery unit bagged an order to supply 16.5 million liters of ethanol to Reliance Industries. 107 crores.
In addition, BCL announced that its subsidiary company Swachhta Distillery has been allocated a total of 36.5 million liters of ethanol from its manufacturing unit at Kharagpur (West Bengal). 213 cr – to be supplied to OMCs. In addition, the unit bagged an order to supply 89 lakh liters of ethanol to RIL 56 crores.
So far in 2022, BCL shares have gained over 24% on the BSE. In one year, the shares have gained nearly 58%.
BCL Industries is one of the leading agro-based industries in North India engaged in the business of edible oil, real estate and distillers.
In Q2FY23, the company posted a consolidated net loss 81.64 lakhs as against a profit of Rs. 20.92 crore in Q2FY22. stood on revenue from operations 452.58 crore in Q2FY23 Vs. 462.96 crore in the second quarter of the last financial year.
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