It’s a typo. 62% should be for Distillery and 38% for Edible Oil (EO).
Since past few quarters BCL’s main revenue generator is Distillery segment, and this segments contribution to profit and cashflow far outweighs EO segment’s contribution. This gap is only going to increase with the 100KLPD additional capacity now online. For this reason, I had written to company’s IR few months back to explore the possibility of changing the categorization of BCL on exchanges from Edible Oil to something which more aptly suggests company’s new focus, its margin profile and profitability drivers. EO is generally a low single digit margin business while ENA+Ethanol+Biodeisel is around mid-teens. That greatly impacts the multiples a stock commands in the market.
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