BCL Industries Secures ₹561 Crore Ethanol Supply Tender with OMCs; Shares Experience Surge

BCL Industries, in collaboration with its subsidiary Svaksha Distillery Ltd, has emerged as the successful bidder in a tender floated by Oil Marketing Companies (OMCs) for the supply of ethanol. The contract, valued at ₹561 crore, entails the provision of 8.20 lakh liters of ethanol.

In a regulatory filing, the company further revealed that its subsidiary, Svaksha Distillery Ltd, has secured an additional order. This order involves the supply of 0.1 lakh liters of ethanol to Reliance Industries Ltd., with a contract value of ₹6.73 crore.

The successful bid for the OMCs' ethanol supply tender marks a significant achievement for BCL Industries, showcasing its competitiveness in the sector. The substantial contract value reflects the company's capacity to meet the demand for ethanol, aligning with the growing requirements of OMCs.

Simultaneously, the subsidiary's contract with Reliance Industries further underscores the diversification of Svaksha Distillery Ltd's clientele and its ability to secure significant orders from prominent industry players.

Following these positive developments, BCL Industries experienced a surge in its shares, indicating the positive investor sentiment in response to the company's successful bids and expanding business opportunities in the ethanol supply market.

HBL