BCL Senses A Significant Leap At Revenue In 2020 Buoyed By The Agro-based Policies Of GOI
The whole world is looking towards a healthier and cleaner environment to leave to its future generations and India is no exception. The Government of India (GOI) has stipulated corrective and continuous initiatives in the bid to achieve the desired result. In the latest cabinet meeting, held on 12th September 2018, it was a~nounced that the prices of B-Heavy (Ethanol made from damaged grains) or B-Grade Molasses would increase from INR 47.49 to INR 52.43 per litre.
Through boosting the domestic ethanol production, the Government is taking leaps towards a cleaner India and the world. It is not only decreasing the forex expenditure through domestic ethanol production but is also attempting to reduce the emission of carbon dioxide through Ethanol blending, decreasing import dependency of crude oil for petrol and diesel, increasing farmers' income by means of MSP and supporting the sugar industry.
BCL Industries Limited looks to stand benefitted. being one of the front runners in the agro-based industry in Northern India.
Encouraged by the National Policy on Biofuels-2018 with the current hiked price of INR 52.43 per litre, BCL Distillery segment has already started the process of converting its part capacity of about 125KlPD into Ethanol, which will come into production from December 2018. BCLs further expansion in the Distillery segment by the addition of another 200 KLPD through its subsidiary Svaksha Distillery Limited at Kharagpur, West Bengal, is in full swing and is expecting to commence Ethanol production by September 2019. Both the works have been awarded to Praj Industries Limited.
The announcement of higher MSPs to an average tune of 1.5 times coupled with the levy of heavy import duty on oil shows the Government of India's focus on increasing palm oilseed cultivation so that the country's dependence on imports of edible oil could be reduced significantly and domestic production glory is reinstated. This will continue to encourage BCL to significantly improve production in the coming years.
Not only is the company seeing this as a lucrative measure to maximise its profits but also acting in its stance of being an entity that supports corporate social responsibility. BCL Industry Limited's output is a strong contribution to a greener and more sustainable environment for the generations to come.