Bcl Industries Limited — Investor Meet, 18-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

BCL Industries reported H1 FY26 consolidated revenue of INR1,544 Cr (+10% YoY) and PAT of INR65 Cr (+20% YoY). The distillery segment remains a key growth driver, with ethanol volumes at 1,07,211 KL and ENA at 20,089 KL. Management anticipates reduced ethanol allocations, shifting focus to maximize ENA and IMIL sales, potentially impacting margins. The 150 KLPD ethanol expansion at Bhatinda progresses for Q4 FY26, but the Goyal Distillery project is on hold due to market oversupply. New CEO Varun Gupta joined. BCL emphasizes cost efficiency (paddy straw boiler, maize oil extraction) and IMIL/IMFL product expansion, navigating market shifts with operational flexibility.