BCL Inds gains on bagging orders to supply ethanol

BCL Industries rose 2.84% to Rs 387.95 after the company said it won tenders to supply ethanol to oil marketing companies (OMCs) and Reliance Industries.

BCL Industries alongwith its subsidiary had participated in a tender floated by oil marketing companies (OMCs) dated 18 October 2022. The tender invited various molasses and grain based distilleries for supplying ethanol from from 1 December 2022 to 31 October 2023 at various locations across the country.

After the closure of the first round of offerings, BCL Industries won a tender to supply 4.9 crore litres of ethanol to OMCs from its manufacturing unit at Bathinda (Punjab). The order is worth around Rs 285 crore.

Additionally, the distillery unit of the company has also bagged an order to supply 1.65 crore litres of ethanol to Reliance Industries with an order value of Rs 107 crore.

Further, Svaksha Distillery, a subsidiary of BCL Industries, secured a tender to supply 3.65 crore litres of ethanol to OMCs from its manufacturing unit at Kharagpur (West Bengal). The order is valued at around Rs 213 crore.

Additionally, the unit has also bagged an order to supply 89 lakh litres of ethanol to Reliance Industries with an order value of Rs 56 crore.

BCL Industries, operation of the company spans all aspects of real estate development, Oil and Refinery, and Distillery.

On consolidated basis the company's net profit declined 96.2% to Rs 80 lakh on 2% decrease in net sales to Rs 452.41 crore in Q2 FY23 over Q2 FY22.

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