BCL Industries Ltd.

•

bcl.ind.inBSE: 524332NSE: BCLIND

Market Cap₹ 1,050 Cr.

Current Price

High / Low₹ 45 / 26

Stock P/E9.0

Book Value₹ 32

Price to Book1.32

Dividend Yield0.98 %

ROCE13.6 %

ROE14.4 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Distillery Unit: 66.1% • Oil & Vanaspati: 33.6% • Real Estate: 0.3%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Company has delivered good profit growth of 31.8% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 25.2% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company converts assets efficiently - asset turnover of 2.0x

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.50x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 22.2%
Growth is decelerating - 3Y profit CAGR (6.7%) trails the 5Y trend (31.8%)
Though reporting repeated profits, the company pays out little dividend (8.1%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGEdible Oil

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MARICO	810.25	55.80	105347.77	0.49	652.00	27.10	3957.00	21.42	52.25	20.70
2.	PATANJALI	341.25	18.85	37131.71	1.47	3357.34	1761.48	113374.51	1173.91	10.61	4.79
3.	AWL	187.65	21.10	24388.47	0.53	351.39	47.67	20048.14	17.52	18.52	3.56
4.	GOKULAGRO	230.50	16.18	6801.75	0.00	122.63	71.26	5281.95	7.26	37.07	3.85
5.	SUNDROP	667.00	89.96	2514.38	0.00	12.13	181.44	428.08	15.22	2.01	5.84
6.	BCLIND	35.59	9.01	1050.49	0.98	35.52	6.10	623.42	-24.00	13.60	9.80
7.	MODINATUR	350.55	8.92	466.46	0.00	12.50	19.14	155.61	0.37	23.80	14.25
8.	GOKUL	42.66	20.40	422.31	0.00	6.08	57.63	1016.75	9.75	8.66	1.63
9.	KRITINUT	83.74	12.59	419.57	3.58	8.92	-6.03	247.08	7.88	20.30	4.72
10.	VIJSOLX	647.80	8.70	207.38	0.00	5.58	428.60	622.50	35.20	7.35	1.40
11.	MKPL	4.02	32.13	150.90	0.00	1.38	-60.63	115.16	0.18	13.46	2.18
12.	ROML	42.18	3.72	67.44	0.00	1.11	-21.06	35.56	5.82	15.26	5.16

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	446	481	644	614	659	746	762	743	820	719	756	608	623
	406	434	590	563	605	691	715	694	767	652	690	553	581
Operating Profit	39	47	55	50	54	55	46	49	53	67	67	55	42
OPM %	8.85%	9.74%	8.48%	8.21%	8.18%	7.37%	6.10%	6.63%	6.52%	9.33%	8.81%	9.00%	6.77%
	1	2	2	2	2	2	2	3	3	1	2	3	5
Interest	7	9	10	7	11	6	8	5	7	10	7	8	5
Depreciation	7	9	10	10	11	11	12	12	11	13	13	13	14
Profit before Tax	27	30	38	35	34	39	29	35	38	45	48	37	47
Tax %	26.76%	35.15%	12.58%	32.00%	26.84%	23.98%	27.55%	21.14%	11.31%	29.97%	26.03%	28.92%	24.13%
Net Profit	0	0	0	0	25	30	21	28	33	32	35	26	36
	0.77	0.72	1.20	0.85	0.81	0.94	0.65	0.86	1.04	0.98	1.09	0.79	1.09

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	660	847	891	913	1,427	1,988	1,818	2,129	2,815	2,707
	623	800	817	857	1,359	1,850	1,695	1,938	2,611	2,476
Operating Profit	37	47	74	56	69	138	124	191	205	231
OPM %	5.55%	5.52%	8.27%	6.13%	4.81%	6.92%	6.80%	8.99%	7.27%	8.52%
	5	7	8	7	28	8	7	7	9	11
Interest	21	21	19	15	26	18	20	33	31	31
Depreciation	9	11	11	14	13	15	25	36	46	54
Profit before Tax	11	22	52	35	58	113	85	130	137	176
Tax %	13.58%	18.00%	20.25%	25.92%	27.15%	25.21%	24.72%	26.04%	24.70%	27.13%
Net Profit	10	18	41	26	42	85	64	96	103	128
EPS	6.90	9.90	23.99	13.49	18.75	35.13	2.66	3.32	3.22	—
Dividend Payout %	14.90%	0.00%	5.06%	0.00%	28.62%	14.23%	18.22%	7.54%	8.08%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 25%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 30%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 8%
3 Years:: -12%
1 Year:: -13%

RETURN ON EQUITY

10 Years:: —
5 Years:: 18%
3 Years:: 16%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	14	16	17	19	24	24	24	27	30
Minority Interest	0	0	0	0	2	12	10	22	30
	84	110	162	198	261	343	407	603	772
	229	242	192	181	187	252	438	444	492
Trade Payables	133	101	152	153	100	79	124	95	130
	21	27	36	52	59	48	93	109	102
Total Liabilities	481	495	560	604	632	758	1,096	1,301	1,555
	84	136	138	129	129	130	316	619	613
Capital Work in Progress	54	5	10	19	29	166	212	13	110
	25	33	34	36	26	5	7	10	11
	241	262	266	333	251	196	321	385	445
	0	0	0	0	0	0	0	122	132
Cash & Bank	19	5	14	14	14	21	8	6	28
	58	54	98	74	184	240	232	147	216
Total Assets	481	495	560	604	632	758	1,096	1,301	1,555

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	67	14	62	34	11	132	51	39	63
Cash from Investing	-45	-40	-19	-13	-13	-145	-250	-131	-129
Cash from Financing	-6	16	-25	-21	6	62	206	92	83
	13	-14	8	-6	-2	12	-16	0	17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
59.47	57.77	57.77	58.03	58.03	58.03	58.03	58.23	58.23
4.84	1.84	0.77	0.86	0.46	0.43	0.37	0.43	0.24
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
0.00	0.00	0.92	0.92	0.92	0.92	0.92	0.92	0.92
35.69	40.40	40.55	40.19	40.58	40.62	40.68	40.43	40.60

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Bcl Industries Limited has informed the Exchange about Schedule of meet

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Bcl Industries Limited has informed the Exchange about Newspaper Publication of 50th AGM Notice.

2026-09-01

Shareholders meeting

2026-09-01 - Bcl Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-26

Updates

2026-08-26 - BCL Industries Limited has informed the Exchange regarding 'Normalization of 200 KLPD ethanol unit at Bathinda (Punjab)'.

2026-08-20

Updates

2026-08-20 - Bcl Industries Limited has informed the Exchange regarding 'Special Window for Transfer and Dematerialization of Physical Securities'.

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Bcl Industries Limited has informed the Exchange about Transcript

2026-08-17

Updates

2026-08-17 - Bcl Industries Limited has informed the Exchange regarding order book for Supply of Ethanol to OMC s'.

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Bcl Industries Limited has informed the Exchange about Link of Recording

2026-08-13

Investor Presentation

2026-08-13 - Bcl Industries Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for BCLIND

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BCL Industries Ltd.

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Free 5nance Account

Name

MARICO

810.25

55.80

105347.77

0.49

652.00

27.10

3957.00

21.42

52.25

20.70

PATANJALI

341.25

18.85

37131.71

1.47

3357.34

1761.48

113374.51

1173.91

10.61

4.79

AWL

187.65

21.10

24388.47

0.53

351.39

47.67

20048.14

17.52

18.52

3.56

GOKULAGRO

230.50

16.18

6801.75

0.00

122.63

71.26

5281.95

7.26

37.07

3.85

SUNDROP

667.00

89.96

2514.38

0.00

12.13

181.44

428.08

15.22

2.01

5.84

BCLIND

35.59

9.01

1050.49

0.98

35.52

6.10

623.42

-24.00

13.60

9.80

MODINATUR

350.55

8.92

466.46

0.00

12.50

19.14

155.61

0.37

23.80

14.25

GOKUL

42.66

20.40

422.31

0.00

6.08

57.63

1016.75

9.75

8.66

1.63

KRITINUT

83.74

12.59

419.57

3.58

8.92

-6.03

247.08

7.88

20.30

4.72

VIJSOLX

647.80

8.70

207.38

0.00

5.58

428.60

622.50

35.20

7.35

1.40

MKPL

4.02

32.13

150.90

0.00

1.38

-60.63

115.16

0.18

13.46

2.18

ROML

42.18

3.72

67.44

0.00

1.11

-21.06

35.56

5.82

15.26

5.16

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

446

481

644

614

659

746

762

743

820

719

756

608

623

406

434

590

563

605

691

715

694

767

652

690

553

581

Operating Profit

OPM %

8.85%

9.74%

8.48%

8.21%

8.18%

7.37%

6.10%

6.63%

6.52%

9.33%

8.81%

9.00%

6.77%

Interest

Depreciation

Profit before Tax

Tax %

26.76%

35.15%

12.58%

32.00%

26.84%

23.98%

27.55%

21.14%

11.31%

29.97%

26.03%

28.92%

24.13%

Net Profit

0.77

0.72

1.20

0.85

0.81

0.94

0.65

0.86

1.04

0.98

1.09

0.79

1.09

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

660

847

891

913

1,427

1,988

1,818

2,129

2,815

2,707

623

800

817

857

1,359

1,850

1,695

1,938

2,611

2,476

Operating Profit

138

124

191

205

231

OPM %

5.55%

5.52%

8.27%

6.13%

4.81%

6.92%

6.80%

8.99%

7.27%

8.52%

Interest

Depreciation

Profit before Tax

113

130

137

176

Tax %

13.58%

18.00%

20.25%

25.92%

27.15%

25.21%

24.72%

26.04%

24.70%

27.13%

Net Profit

103

128

EPS

6.90

9.90

23.99

13.49

18.75

35.13

2.66

3.32

3.22

—

Dividend Payout %

14.90%

0.00%

5.06%

0.00%

28.62%

14.23%

18.22%

7.54%

8.08%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

110

162

198

261

343

407

603

772

229

242

192

181

187

252

438

444

492

Trade Payables

133

101

152

153

100

124

130

109

102

Total Liabilities

481

495

560

604

632

758

1,096

1,301

1,555

136

138

129

130

316

619

613

Capital Work in Progress

166

212

110

241

262

266

333

251

196

321

385

445

122

132

Cash & Bank

184

240

232

147

216

Total Assets

481

495

560

604

632

758

1,096

1,301

1,555

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

132

Cash from Investing

-45

-40

-19

-13

-145

-250

-131

-129

Cash from Financing

-6

-25

-21

206

-14

-6

-2

-16

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

59.47

57.77

58.03

58.23

4.84

1.84

0.77

0.86

0.46

0.43

0.37

0.43

0.24

0.00

0.01

0.00

0.92

35.69

40.40

40.55

40.19

40.58

40.62

40.68

40.43

40.60

BCL Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

BCL Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI