BCL Industries Q2 FY27 Results (NSE: BCLIND)
Signal: Revenue declined
The read
The quarter confirms a split trajectory: consolidated PAT held near ₹3191.71 lakh despite revenue falling 11.4% to ₹58358.80 lakh, but the standalone business saw PAT collapse 43.0% to ₹1547.00 lakh; maize oil resilience is offsetting a sharp distillery slowdown while finance costs rose 82.3%.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹583.59 Cr | -11.4% | -5.3% |
| EBIT | ₹38.37 Cr | -5.9% | |
| Net profit | ₹31.92 Cr | -0.3% | |
| EPS | ₹1 | +2.0% | |
| EBIT margin | 8.9% |
P&L walk
Consolidated revenue declined to ₹58358.80 lakh, while segment result was ₹5183.06 lakh and profit before tax was ₹3836.55 lakh; distillery weakness outweighed maize-oil resilience and finance costs remained a drag.
Segments
Maize oil extraction and refinery was the relative driver with revenue of ₹33658.67 lakh, up 5.2% YoY, while distillery revenue fell 40.0% to ₹20158.31 lakh and its result fell 36.4% to ₹2576.44 lakh, dragging consolidated momentum.
Key positives
- Consolidated PAT was broadly stable at ₹3191.71 lakh, down only 0.3% YoY despite revenue declining 11.4% to ₹58358.80 lakh.
- Maize oil extraction and refinery revenue rose 5.2% YoY to ₹33658.67 lakh and segment result increased 1.0% to ₹2666.62 lakh, providing earnings support.
- Consolidated operating cash flow was ₹11069.51 lakh in H1FY27, exceeding the ₹9679.72 lakh investing outflow.
Key concerns
- Distillery revenue declined 40.0% YoY to ₹20158.31 lakh and segment result declined 36.4% to ₹2576.44 lakh, making the core growth trajectory uneven.
- Standalone PAT fell 43.0% YoY to ₹1547.00 lakh even as revenue rose 3.7%, indicating weak profit conversion at the parent level.
- Finance costs rose 82.3% YoY to ₹727.17 lakh, increasing pressure below operating profit.
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