In a recent analyst and investors conference call discussing the unaudited financial results for the first quarter ending June 30, 2024, Kushal Mittal, Joint Managing Director of BCL Industries, highlighted the company’s advancements and future strategies.
With 40 years of experience in grains procurement and processing, BCL operates one of India’s largest grain-based distilleries. Last quarter, the company successfully launched a new 100 KLPD ethanol plant at Svaksha in Kharagpur, raising its total distillery capacity to 700 KLPD. The new facility is functioning efficiently, and the company expects it to achieve full capacity utilization in the current quarter.
BCL primarily uses maize for ethanol and ENA production and is among the pioneers in this approach in India. The strong maize harvest from Bihar this quarter has improved margins in this segment. Building on its expertise in maize processing and oil extraction, BCL is expanding into the biodiesel sector. With the government’s focus on biofuels, including the Ethanol Blending Program and the goal of 5% biodiesel blending by 2030, BCL is positioned to take advantage of these opportunities.
During the call, Mittal shared that the company has made notable progress on establishing a 75 KLPD biodiesel plant in Bathinda. All necessary statutory clearances have been obtained, major orders are confirmed, and civil work is underway. This new plant will facilitate complete backward and forward vertical integration, enhancing the value of its maize-based ethanol production. The plant will use technical maize oil from its maize as the primary raw material, further boosting operational efficiency and production capabilities.
Mittal stated, “With India’s biofuel demand projected to triple, BCL is poised for substantial growth. We are expanding in both the ethanol and biodiesel markets, aiming to increase our ethanol capacity to 850 KLPD over the next year.”
The company reported strong financial performance this quarter, with total revenue reaching ₹660 crores, a 47.3% year-on-year increase. EBITDA stood at ₹57 crores, reflecting an EBITDA margin of 8.48%, up by 36% from the previous year. PAT was ₹25 crores compared to ₹20 crores in FY ’24, with a PAT margin of 3.79%.
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