Rs 29 to Rs 525 in 3 years: This smallcap multibagger remains a buzz ahead of stock split

Shares of BCL Industries extended its gains on Wednesday as the stock has gained about 18 per cent in the last one month on the back of stock split and bonus issue. The Edible oil manufacturer has delivered multibagger returns to investors in the longer run.

Shares of BCL Industries rose about 3 per cent to Rs 524.25 on Wednesday, before settling flat at Rs 512.40. The company was commanding a total market capitalization close to Rs 1,250 crore. However, the stock hit its 52-week high at Rs 536.35 on June 20, 2023.

The smallcap FMCG player has declared stock split in a 1:10 ratio, which means each share of the company with a face value of Rs 10 each is sub-divided into 10 equity shares with a face value of Re 1 each. Stock split is a corporate action which is undertaken to increase the trade volume and liquidity in the stock.

BCL Industries reported 6 per cent increase in the net profit on a year-on-year (YoY) basis to Rs 24.31 crore in the fourth quarter of FY23 from Rs 22.85 crore in the same period of FY22. Its sales grew 9 per cent YoY to Rs 457.19 crore in the quarter.

BCL Industries' shares have surged almost 1,700 per cent in the last three years from its Covid lows around Rs 29.5, while the stock has gained about 500 per cent in the last two and a half year, while the company had surged about 90 per cent from its 52-week low around Rs 276.15. The company board also declared a final dividend of Rs 5 for the financial year 2022-23.

BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant. It is also engaged in the business of edible oils including refined oil.

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