What was BCL Industries's revenue in Q3 FY26?

BCL Industries reported revenue of ₹726 Cr in Q3 FY26, a — change year-over-year.

Did BCL Industries management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

BCL Industries Q3 FY26 Research Workspace: Revenue ₹726 Cr (—)

Q: What guidance did BCL Industries management give?

Capacity expansion to 900 KPD by end of FY26: The 150 KPD expansion at Bathinda and Swaksha's capacity increase to 350 KPD will bring total capacity to 900 KPD by Q4 FY26.

Revenue ₹726 Cr

EBITDA ₹68 Cr +41%

PAT ₹35 Cr +69%

EBITDA Margin 9% +270bps

Duration 56 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

BCL Industries reported Q3 FY26 revenue of ₹758 crore and EBITDA of ₹68 crore, up 41% YoY, with EBITDA margins expanding 270 bps to ~9%. PAT grew 69% YoY to ₹35 crore. The distillery segment drove performance with ENA volumes surging 60% YoY to 15,330 KL, partially offsetting lower ethanol allocations. Management highlighted flexibility between ENA and ethanol as a key advantage amid policy uncertainty. The company is acquiring the remaining 25% stake in Swaksha Distillery for ₹55 crore and expanding capacity to 900 KPD by FY26-end. However, ENA realizations have fallen to ₹59-60/liter due to oversupply, pressuring margins. Risk: Further ethanol policy delays or price cuts could strain capacity utilization and margin recovery.

Risks4 trackedTranscriptfull text

Research workspace

Focused Modules

⚖Claim Ledger 67% answered

Did management answer the analysts?

12 analyst questions audited, 4 evaded or deflected.

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!Risks 4 risks

Risk Intelligence

Ethanol policy uncertainty and lower OMC allocations

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Quarter Snapshot

ENA Volumes 15,330 KL

+60% YoY

ENA volumes increased sharply as the company diverted capacity from ethanol due to lower OMC allocations.

Ethanol Volumes 47,420 KL

flat

Ethanol volumes remained stable; no YoY comparison provided, but capacity utilization near 100%.

PML Sales 488,800 boxes

flat

PML sales in Q3 FY26; no prior period comparison given, but management noted steady demand.

Maize Price ₹20-21/kg

-30% YoY

Maize prices softened significantly, enabling competitive ENA pricing and supporting margins.

Fast read

Guidance and risk preview

Top guidance Capacity expansion to 900 KPD by end of FY26

The 150 KPD expansion at Bathinda and Swaksha's capacity increase to 350 KPD will bring total capacity to 900 KPD by Q4 FY26.

Top risk Ethanol policy uncertainty and lower OMC allocations

OMC allocations remain lower than expected, forcing the company to sell more ENA at lower margins.