BCL Industries spurted 5.69% to Rs 252.50 after the company was allocated a quantity of 3.60 crore litres of ethanol in its manufacturing unit in Bathinda (Punjab) for the supplies to OMCs, after the closure of the first round of offerings.
Further, BCL Industries applied for an additional quantity of 0.50 crore litre. The total suppliable quantity to Oil Marketing Companies (OMCs) will be upto 4.10 crore litres for the period from 1 Dececmber 2021 till 30 November 2022.
The company had participated in a tender floated by Oil Marketing Companies (OMCs) on 12 November 2021, which invited various molasses and grain-based distilleries for supplying ethanol for a period commencing from 1 Dececmber 2021 till 30 November 2022 at various locations across the country.
BCL Industries expects that its subsidiary viz. Svaksha Distillery will also commence its commercial production of Ethanol in last quarter of this financial year 2021-22 and will initiate the supply once commercial production commences.
The per unit rate of ethanol made from the damaged food grains has been fixed at Rs 52.92 per litre with an increase of Rs 1.37 per litre from previous year. The rate for ethanol made from surplus food grains remained unchanged.
BCL Industries' consolidated net profit soared 77.8% to Rs 20.93 crore on a 42.1% surge in net sales to Rs 461.50 crore in Q2 FY22 over Q2 FY21.
BCL Industries, formerly known as BCL Industries & Infrastructure, is engaged in the business of edible oils, distilleries and real estate. Its segments include oil and vanaspati, distillery unit and real estate. Its edible oil business consists of oil, solvent extraction unit, vanaspati ghee, refined vegetable oil under the brands of homecook, Do Khajoor and Murli.
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