Stock Market Today: BCL Industries, a small-cap stock trading under ₹100, surged following a significant business update on Wednesday, December 18. The company announced expansion plans across its plants, aimed at boosting its renewable energy capabilities.
BCL Industries share price was trading in the green, up 0.72 per cent at ₹52 on December 18 at 2:19 pm. It rose as much as 1.9 per cent to the day's high of ₹52.63. The company enjoys a market capitalisation of ₹1,534.85 crore, as per BSE.
BCL Industries' expansion plans
According to a disclosure dated December 17, 2024, BCL Industries revealed that its subsidiary, Svaksha Distillery, received consent to establish a 75 KLPD (kilo-liters per day) bio-diesel plant alongside an oil extraction unit at its Kharagpur facility. The project is pegged at an estimated cost of ₹150 crore. Additionally, the company secured environmental clearance to set up a 150 KLPD ethanol manufacturing plant at its Bathinda unit, with work scheduled to commence in the coming months.
Additionally, the company added that the work on the 75 KLPD Bio-Diesel plant at Bathinda distillery is going on in full swing.
“These moves will further enhance the capabilities of the company and re-enforce its commitment towards green energy initiatives,” the company said via an exchange filing.
BCL Industries financial results
BCL Industries net profit stood at ₹29.87 crore during the July-September 2024 quarter, up over 50 per cent from ₹19.67 crore posted in the year-ago quarter. On a sequential basis also BCL Industries' net profit jumped more than 45 per cent from ₹20.51 crore reported in the April to June quarter at the consolidated level.
BCL Industries' revenues from operations stood at ₹746.13 crore during the July- September 2024 quarter, up 55% over ₹480.70 crore reported in the year-ago quarter. On a sequential basis, it increased by 13.4% over ₹658.21 crore posted in the June 2024 quarter.
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