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Business News/ Markets / Stock Markets/  BCL Industries Q4 earnings: Net profit up 6% YoY to 24 Cr, Board declares stock split and 50% dividend

BCL Industries is a small cap FMCG company that recorded a market cap of 1,077.33 Cr during Monday's closing session. The corporation is a major participant with operations in key industry verticals, including vegetable oil refining, solvent extraction, oil extraction, Distillery-Ethanol Industry, real estate and rice sheller.

The Board of Directors have “Recommended an equity dividend of Rs. 5 per share of face value of Rs.10/- each i.e. @ 50% for the financial year ended March 31, 2023, on Equity Shares belonging to Public Category as the Promoters & Promoters Group have waived/forgone his/their right to receive the dividend by him/them for financial year 2022-23, which shall be subject to declaration by the Members at the 47th AGM of the Company. The Dividend, if declared at the AGM, shall be paid to the shareholders within 30 days of declaration of the same," said BCL Industries in a stock exchange filing.

BCL Ind also informed to stock exchanges that its Board of Directors have “Approved the splitting of the face value of the shares from Rs. 10 to Rs. 1 per share, subject to approval of the shareholders and other statutory approvals."

During Q4FY23, its net sales reached 456.95 Cr down by 9.90% YoY from 507.10 Cr in Q4FY22, however, the revenue from operations was 533.91 Cr in Q3FY23, representing a fall of 14.41% QoQ. 

The company said its net income stood at 457.67 Cr in the quarter ended March 2023 as compared to 509.99 Cr in March 2022 quarter and 535.65 Cr in December 2022 quarter.

BCL Industries said its net profit in Q4FY23 reached 24.31 Cr as compared to 22.85 Cr in Q4FY22, representing a gain of 6.38% YoY and the same was 23.42 Cr in Q3FY23, representing a gain of 3.80% QoQ.

The shares of BCL Industries closed today on the BSE at 446.10 apiece down by 3.50% from the previous close of 462.30. The stock touched a 52-week-high of 476.00 on (22/05/2023) and a 52-week-low of 276.15 on (15/11/2022). During Q4FY23, the company recorded promoters shareholding of 61.13%, FIIs stake of 0.41% and public stake of 38.45%.

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Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 29 May 2023, 05:29 PM IST
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