With a market capitalization of ₹ 1,082 crores, BCL Industries is a small-cap company from the Mittal Group. The company recently announced its results for the quarter and the year ended on March 31, 2023. Moreover, it announced a dividend and a stock split. Its shares closed at ₹ 454.55 apiece on Tuesday.
BCL Industries is engaged in the business of edible oils, distilleries and real estate. It offers its products under brands like Home Cook, Murli, White Gold, Royal Patiala Whiskey and so on.
According to an exchange filing, the company’s board has approved a stock split/ sub-division of its equity shares from each share having a face value of ₹ 10 to ten equity shares having a face value of ₹ 1 per share, subject to approval from shareholders.
The company reported a consolidated net profit of ₹ 24.59 crore with revenue from operations at ₹ 456.96 crore for the January to March quarter (Q4FY23). The company’s net profit stood at ₹ 64.35 crore, with revenue from operations at Rs 1,819.92 crore for the entire year 2022-23.
BCL Industries’ board has also recommended a dividend of ₹ 5 per equity share, or 50% of the face value of ₹ 10 each for the financial year ended on March 31, 2023, subject to shareholder approval. Moreover, the promoters and promoter group have waived/forgone their right to receive the dividend from the company.
The company has a high return on equity of 26.05% and an ideal debt-to-equity ratio of 0.99. Its shares were trading at a price-to-earnings ratio of 16.62 which is lower than the industry P/E of 20.54, indicating that the stock might be undervalued as compared to its peers. The company’s stock has a dividend yield of 1.12%.
BCL Industries’ promoters hold a 61.36% stake in it, followed by retail investors with 38.32% and the remaining 0.41% by foreign institutions.
Written By Simran Bafna
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