(1/n)
BCL Industries Ltd - The Big Ethanol Story
ROE ~18%
ROCE ~17%
Promoter Holding - 61.4%
A detailed 🧵on the Big Ethanol Play
Do Share/Retweet to educate more Investors
BCL Industries Ltd - The Big Ethanol Story
ROE ~18%
ROCE ~17%
Promoter Holding - 61.4%
A detailed 🧵on the Big Ethanol Play
Do Share/Retweet to educate more Investors
(2/n)
BCL Industries is a diversified business house with business interest spread across the variety of industries namely Edible Oil & Vanaspati, Distilleries & Real Estate
One of the largest edible oil manufacturers in North India having a capacity 1,020 tons per day
BCL Industries is a diversified business house with business interest spread across the variety of industries namely Edible Oil & Vanaspati, Distilleries & Real Estate
One of the largest edible oil manufacturers in North India having a capacity 1,020 tons per day
(3/n)
BCL is one of the largest edible oil complex in North India. It has integrated edible oil plant with ability to conduct processing of oilseeds as well as packaging 8 brands of refined edible oil
BCL is also one of the largest grain-based Ethanol manufacturers in the country
BCL is one of the largest edible oil complex in North India. It has integrated edible oil plant with ability to conduct processing of oilseeds as well as packaging 8 brands of refined edible oil
BCL is also one of the largest grain-based Ethanol manufacturers in the country
(4/n)
BCL is one of the most preferred partners for several IMFL and IMIL brands in the country
Monetisation of Real Estate projects and proceeds to be utilised for repayment of company’s debt
BCL is one of the most preferred partners for several IMFL and IMIL brands in the country
Monetisation of Real Estate projects and proceeds to be utilised for repayment of company’s debt
(5/n)
Recent Developments
Co has won an order from OMCs to supply 4.1cr litres of Ethanol from 1st Dec'21 to 30th Nov'22.
The per unit rate of Ethanol made from the Damaged Food Grains has been increased by Rs. 1.37 per ltr to Rs. 52.92 per ltr now
Recent Developments
Co has won an order from OMCs to supply 4.1cr litres of Ethanol from 1st Dec'21 to 30th Nov'22.
The per unit rate of Ethanol made from the Damaged Food Grains has been increased by Rs. 1.37 per ltr to Rs. 52.92 per ltr now
(6/n)
The co performed groundbreaking ceremony (Bhoomi Pujan) of its brownfield distillery plant expansion in Bathinda, Punjab on 7/12/2021 for setting up another state-of-the-art plant having an installed production capacity of 200KLPD of Ethanol & 10 MW of power co-generation
The co performed groundbreaking ceremony (Bhoomi Pujan) of its brownfield distillery plant expansion in Bathinda, Punjab on 7/12/2021 for setting up another state-of-the-art plant having an installed production capacity of 200KLPD of Ethanol & 10 MW of power co-generation
(7/n)
Capacity of Bathinda unit to increase from 200KLPD to 400KLPD post expansion. Plant to be commissioned by Nov'22 & will be one of India's largest grain-based distillery.
The work construction of distillery in Bengal also in full swing & likely to be commissioned by Jan'22
Capacity of Bathinda unit to increase from 200KLPD to 400KLPD post expansion. Plant to be commissioned by Nov'22 & will be one of India's largest grain-based distillery.
The work construction of distillery in Bengal also in full swing & likely to be commissioned by Jan'22
(8/n)
Co has reported lifetime best quarterly perfromance
Revenue at 462cr vs 449cr (+3% QoQ) vs 325cr (+43% YoY)
EBITDA at 37cr vs 31cr (+20% QoQ) vs 25cr (+48% YoY)
PAT at 21cr vs 17cr (+24% QoQ) vs 12cr (+78% YoY)
EPS of 8.66 vs 7 (+24% QoQ) vs 5.25 (+65% YoY)
Co has reported lifetime best quarterly perfromance
Revenue at 462cr vs 449cr (+3% QoQ) vs 325cr (+43% YoY)
EBITDA at 37cr vs 31cr (+20% QoQ) vs 25cr (+48% YoY)
PAT at 21cr vs 17cr (+24% QoQ) vs 12cr (+78% YoY)
EPS of 8.66 vs 7 (+24% QoQ) vs 5.25 (+65% YoY)
(9/n)
TTM Sales 1737cr
TTM PAT 63cr
TTM EPS 26.23
Trades extremely cheap at P/S of just 0.45x & Trailing P/E of 12x
TTM Sales 1737cr
TTM PAT 63cr
TTM EPS 26.23
Trades extremely cheap at P/S of just 0.45x & Trailing P/E of 12x
(10/n)
Ethanol Capacities
Capacity of Bathinda plant stands at 200KLPD which will increase to 400KLPD
Svaksha Plant (WB) to be commissioned in Jan'22 with capacity of 200KLPD & 300KLPD by Dec'22
Total Ethanol Capacity to will increase from current 200KLPD to 700 KLPD in next 1yr
Ethanol Capacities
Capacity of Bathinda plant stands at 200KLPD which will increase to 400KLPD
Svaksha Plant (WB) to be commissioned in Jan'22 with capacity of 200KLPD & 300KLPD by Dec'22
Total Ethanol Capacity to will increase from current 200KLPD to 700 KLPD in next 1yr
(11/n)
Edible Oil Capacities
Manufacturing capacity of 300TPD for oil seed crushing & solvent extraction each & total refining capacity of 420TPD
Brands: HomeCook, Murli & Do Khajoor
Products: Soyabean Oil, Cotton Seed Refined Oil, Palm Refined Oil, Mustard Oil & Vanaspati Ghee
Edible Oil Capacities
Manufacturing capacity of 300TPD for oil seed crushing & solvent extraction each & total refining capacity of 420TPD
Brands: HomeCook, Murli & Do Khajoor
Products: Soyabean Oil, Cotton Seed Refined Oil, Palm Refined Oil, Mustard Oil & Vanaspati Ghee
(12/n)
Real Estate
GANPATI ENCLAVE: It is an integrated township project having an aggregate saleable area of 65 acres, which includes service plots, villas, group housing, commercial complexes, mall, school, community center & dedicated temple at Dabwali Road, Bathinda City
Real Estate
GANPATI ENCLAVE: It is an integrated township project having an aggregate saleable area of 65 acres, which includes service plots, villas, group housing, commercial complexes, mall, school, community center & dedicated temple at Dabwali Road, Bathinda City
(13/n)
DD MITTAL TOWERS: The second realty project is a mid-segment housing project located at Multania road in the heart of Bathinda city. The project has been constructed and completed in all aspects and close to 87% inventory has been sold out & handed over to the occupants.
DD MITTAL TOWERS: The second realty project is a mid-segment housing project located at Multania road in the heart of Bathinda city. The project has been constructed and completed in all aspects and close to 87% inventory has been sold out & handed over to the occupants.
(14/n)
BCL will become one of the biggest gainers from the demand for Ethanol under the New National Biofuel Policy, 2018 – to blend ethanol with petrol.
The scope of Ethanol blended program is huge as India has only been able to achieve ~8% blending rate.
BCL will become one of the biggest gainers from the demand for Ethanol under the New National Biofuel Policy, 2018 – to blend ethanol with petrol.
The scope of Ethanol blended program is huge as India has only been able to achieve ~8% blending rate.
(15/n)
This was mainly because of lesser supply of Ethanol in the country. According to the government guidelines in the National Biofuel Policy for blending Ethanol, the target is to reach a 20% blending rate by 2023.
This was mainly because of lesser supply of Ethanol in the country. According to the government guidelines in the National Biofuel Policy for blending Ethanol, the target is to reach a 20% blending rate by 2023.
(16/n)
BCL has the expertise in producing ENA/Ethanol from multiple crops, thereby reducing dependency on single crop & avoid the vagaries of raw material price fluctuations
BCL is only company in India & South Asia that has forward & backward integrated Distillery-Ethanol plant
BCL has the expertise in producing ENA/Ethanol from multiple crops, thereby reducing dependency on single crop & avoid the vagaries of raw material price fluctuations
BCL is only company in India & South Asia that has forward & backward integrated Distillery-Ethanol plant
(17/n)
Co is trading extremely cheap at just 8x FY23E EPS
Cos in sector with such bright prospects deserve a P/E of atleast 18-20x
Further once the capacity expansion is done & further Debt reduction happens cos profitability would be Sky High
Co is trading extremely cheap at just 8x FY23E EPS
Cos in sector with such bright prospects deserve a P/E of atleast 18-20x
Further once the capacity expansion is done & further Debt reduction happens cos profitability would be Sky High
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