The shares of BCL Industries Ltd shed 2 per cent and closed at Rs 377 on Tuesday. However, in the span of a month the stock has gained 14 per cent. BCL Industries Ltd Limited, part of Mittal group, is in the edible oil and distillery business in India. The company sells its products under the brands HomeCook and Murli.
The shares of the company were trading at Rs 72 a piece on BSE around the same time in 2020. From there it has scaled up to the current levels logging a multibagger return of 422 per cent in two years.
The company recently bagged multiple orders. On Monday, it announced that they have received an order worth Rs 285 crore from Oil Marketing Companies (OMCs) to supply 4.9 crore litres of ethanol from its manufacturing unit at Bathinda, Punjab.
In addition to that, the distillery unit of the company has bagged a separate order worth Rs 107 crore to supply 1.65 crore litres of ethanol to Reliance Industries Ltd. Svaksha Distillery Ltd. subsidiary of BCL Industries Ltd. has been allocated 3.65 crores litres of Ethanol, from its manufacturing unit in West Bengal with an order value of around Rs 213 crore to be supplied to the OMCs.
Additionally, the unit has also bagged an order to supply 89 lakh litres of Ethanol to Reliance Industries Ltd. with an order value of INR 56 crore.
In Q2FY23, the total revenue of the company stood at Rs 452.58 crore which declined from Rs 462.96 crore Year on Year (YoY). In the quarter under review, the company reported a net loss of Rs 82 lakhs as compared to a net profit of Rs 20.92 crore in Q2FY22.
The small-cap company has a market capitalization of Rs 904 crore and a dividend yield of 1.33% as of December 6th, 2022.
Written by Anoushka Roy
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