BCL Industries Q2 Results: Small-cap firm's net profit stands flat at ₹32 crore; operating margin improves

BCL Industries announced its September quarter (Q2FY26) results today, November 12, post-market hours, reporting a revenue of ₹720 crore, down 12.4% from ₹822 crore in the June 2025 quarter and 4% lower than ₹748 crore in September 2024 quarter.

Despite the moderation in revenue, the company’s operating profit surged to ₹67 crore, compared with ₹53 crore in the preceding June quarter and ₹55 crore in the year-ago period.

The operating margin improved to 10% from 7% in June 2025 and 8% in September 2024, while net profit stood at ₹32 crore, marginally lower than ₹33 crore in the June quarter but higher than ₹30 crore in September 2024.

Sector-wise, the maize oil extraction and refinery segment contributed ₹183.31 crore, declining sharply from ₹300.59 crore in June 2025 and ₹266.39 crore in September 2024.

The distillery segment remained a major revenue driver at ₹348.03 crore, up from ₹310.49 crore in the previous quarter and ₹295.98 crore in the year-ago period, indicating sustained demand.

Revenue from real estate declined slightly to ₹1.50 crore from ₹2.10 crore in June 2025 and ₹1.74 crore in September 2024. The company’s subsidiary, Svaksha Distillery Limited, Kharagpur, reported revenue of ₹243.58 crore, up from ₹232.47 crore in June 2025 and ₹215.40 crore in September 2024, according to the company's earnings' filing.

Goyal Distillery Private Limited, a 100% subsidiary, remained negligible at ₹0.016 crore. After adjusting for inter-segment revenue of ₹55.54 crore, net sales from operations stood at ₹720.88 crore, marking a sequential decline but broadly stable performance on a year-on-year basis.

BCL Industries share price trend

The company’s shares have remained under pressure since February 2024, having lost about 54% of their value since then to trade at the current level of ₹39.50 apiece. Although the shares showed signs of recovery in recent months, the rebound was short-lived as they slipped back into the red zone.

So far in the current year, the stock has declined by 22%, following a 24% drop in the previous calendar year.

BCL Industries Limited is one of India’s largest agro-processing and manufacturing companies with diverse businesses and vertical integrations. It is engaged in the production of edible oils, rice milling, grain-based distillery operations, and real estate development.

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