BCL industries grain cost last quarter was highest at 24.3Rs and still delivered decent performance whereas other players struggled.
The realisation expected to further improve as management indicated that price hike of 5.79 Rs will get reflected in coming quarters.
And some savings from power cost is expected to accrue also.
Further expansion in to bio-diesel is margin accretive step as company already has 40% of raw materials in house (maize oil)
Overall, BCL is strong player in grain based ethanol story and worth taking a look especially with todays price correction
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