BCL INDUSTRIES LIMITED — Earnings Release 2021

Jun 10, 2021

==> picture [222 x 71] intentionally omitted <==

Regd. Office: Hazi Rattan Link Road, Post Box No. 71, Bathinda-151001 Ph.: 0164-2240163, 2240443, 2211628, Fax : 0164-5003638 Website: www.bcl.ind.in Email: bcl@mittalgroup.co.in CIN: L24231PB1976PLC003624

DATED : 10.06.2021

TO TO CORPORATE RELATIONS DEPARTMENT MANAGER BSE INDIA LIMITED NATIONAL STOCK EXCHANGE OF INDIA LIMITED (BSE) (NSE) SCRIP CODE: 524332 SCRIP CODE: BCLIND

REG: EARNINGS PRESENTATION ON AUDITED FINANCIAL RESULTS FOR QUARTER/ FINANCIAL YEAR ENDED 31[ST] MARCH, 2021

DEAR SIR,

Pursuant to Regulation 30 and other applicable provisions, if any, of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find attached herewith Corporate Presentation (on earnings) on Audited Financial Results of the Company for the Quarter /Financial Year ended 31[st] March, 2021 which is self explanatory about robust financial performance of the Company.

Thanking You, Yours faithfully For BCL Industries Limited

==> picture [165 x 83] intentionally omitted <==

Gurinder Makkar Company Secretary & Compliance Officer M.No. F5124

==> picture [232 x 58] intentionally omitted <==

Big Challenges, Bigger Opportunities

EARNINGS PRESENTATION FY21/Q4 – FY21

Executive Summar y

Company Overview

==> picture [126 x 32] intentionally omitted <==

Financial Highlights – FY21

• BCL is a part of the Mittal Group founded in 1976, by Late Shri D. D. Mittal.

Total Revenue - INR 14,361 Mn

• Under the stewardship of Mr. Rajinder Mittal, the company has now grown into an INR 10,000 Mn business empire.

• The company is a diversified conglomerate in manufacturing and development with business interests spread across a variety of industry verticals namely Edible Oil and Vanaspati, Distillery and Real Estate.

EBITDA - INR 867 Mn PAT - INR 422 Mn

• The market Cap of the company as on 31[th] March, 2021 was approximately INR 2,500 Mn.

==> picture [269 x 56] intentionally omitted <==

EDIBLE OIL & VANASPATI

Engaged in the business of manufacturing of Vanaspati, Refined oil, and oil & solvent extraction from seeds and rice.

==> picture [270 x 58] intentionally omitted <==

DISTILLERY

Engaged in the business of manufacturing of Extra Neutral Alcohol (ENA) and bottling of liquor in Punjab.

==> picture [269 x 58] intentionally omitted <==

REAL ESTATE

Undertaken two large real estate projects in Bhatinda, Punjab

2

Com an at A Glance p y

==> picture [126 x 32] intentionally omitted <==

==> picture [348 x 239] intentionally omitted <==

• Founded in 1976, BCL Industries Limited (BCL) is a part of the Mittal Group, founded by Shri D. D. Mittal. Now under the stewardship of Mr. Rajinder Mittal, the company has now grown into an INR 10,000 Mn business empire.

• BCL is one of the largest vertically integrated agro-based edible oil player in India with a gross annual turnover of more than INR 10,000 Mn.

• The company has transformed from a small oil mill to one of the most modern and fully integrated rice and edible oil complexes in India with a processing capacity of 1,020 MT per day.

• The company forayed into the business of distillation of alcohol in the year 2006 and today is one of the largest grain based distilleries and ethanol manufacturers in the country.

• The company has a balance sheet size of nearly INR 6,000 Mn with a scalable business model which provides revenue visibility of nearly INR 10,000 Mn post the expansion.

Total Revenue* Growth (INR Mn)

==> picture [264 x 184] intentionally omitted <==

----- Start of picture text -----

14,361
9,037 9,255
8,576
FY18 FY19 FY20 FY21
Consolidated
----- End of picture text -----*

Segmental Revenue Break up – FY21 Business Mix

==> picture [262 x 184] intentionally omitted <==

----- Start of picture text -----

67% 32% 1%
Edible Oil Distillery Real
& Estate
Vanaspati
----- End of picture text -----

3

Key Financial Highlights

Ke Financial Hi hli hts y g g

==> picture [126 x 32] intentionally omitted <==

Q4-FY21 Consolidated Financial Performance FY21 Consolidated Financial Performance INR 4,313 Mn INR 272 Mn INR 14,361 Mn INR 867 Mn Total Revenue EBITDA Total Revenue EBITDA 6.31% INR 133 Mn 6.43% INR 422 Mn EBITDA Margin Net Profit EBITDA Margin Net Profit 3.08% INR 5.91 / share 2.94% INR 18.75 / share PAT Margin Diluted EPS PAT Margin Diluted EPS

5

Ke Business Hi hli hts y g g

==> picture [126 x 32] intentionally omitted <==

Business Updates:

==> picture [52 x 50] intentionally omitted <==

• During the year, the company has raised its stake in subsidiary i.e Svaksha Distillery Limited, where the company is setting up a greenfield distillery, from 51% to 73.05% and is in the process to further increase it to 75%.

Capex Updates:

==> picture [61 x 51] intentionally omitted <==

• The capex work for Svaksha Distillery has faced some delays due to the 2nd wave of COVID-19 and strict lockdowns initiated across the country. Despite the difficulties, the work is progressing slowly but steadily, and the management is hopeful to commercialise the plant in the second half of financial year 2021-22.

• The company has moved forward to expand the distillery capacity in Bathinda unit by adding another Grain Based Biofuel Distillery of 200 KLPD. The CLU for the land has been approved, interest subvention file has also been approved and the file for environmental clearance is under process by MoEF. The project proposal has been filed with banks for financial assistance.

Dividend:

==> picture [50 x 51] intentionally omitted <==

• Although the company had a profitable financial year 2019-20, due to the uncertainty and upheaval caused by Covid-19 pandemic and the company’s upcoming expansion plans, the board decided not to recommend any dividend for the financial year 2019-20.

• To compensate for the absence of dividend in the previous financial year, the board has recommended a dividend of Rs.5 per share for only public category shareholders, while the promoters of the company have decided to waive off their right to dividend, so that the company can retain and utilise the same for ongoing expansions.

6

Ke O erational Hi hli hts y p g g

==> picture [126 x 32] intentionally omitted <==

Edible Oil:

==> picture [50 x 50] intentionally omitted <==

• The revenues from Edible oil segment has significantly improved over last year, a YoY increase of 97% was witnessed in this year. This is due to the increase in the demand for the company’s homogenous brands and the increase in the global edible oil prices. The company hopes to use this momentum to increase its market share and sales in the coming quarters as well.

Distillery:

==> picture [48 x 48] intentionally omitted <==

• BCL Industries Ltd continues to be one of the largest suppliers of Grain Based Ethanol in the nation with a tender to supply 4.5 crore liters of ethanol in the sugar year 2020-21. Along with Ethanol, company is experiencing a great demand in ENA for both, industrial and potable purposes.

• Company is experiencing higher realizations from its balance capacity of ENA production of 3.7 Cr litres and from its Ethanol supply which are visible in the quarterly results in terms of sales revenue, registering a hike of about ~17.5% in Sales and ~92% in EBIDTA from Q4-FY20.

==> picture [48 x 48] intentionally omitted <==

Real Estate:

• The real estate segment went through a temporary slowdown for the period of lockdown but the company has experienced a revival in sales and expects the segment to improve.

• In its attempt to reduce the financial burden of the company, BCL has continued to utilize revenues from its real estate sales to liquidate the debt which is visible in the YOY results.

7

Q4-FY21 Segmental Highlights

==> picture [126 x 32] intentionally omitted <==

Distillery Revenue (INR Mn.)

==> picture [221 x 140] intentionally omitted <==

----- Start of picture text -----

552
463
271
209
Q4FY20 Q4FY21
----- End of picture text -----

ENA Ethanol

Distillery Volumes (in KL)

==> picture [221 x 159] intentionally omitted <==

----- Start of picture text -----

10,517
9,171
5,840
4,994
Q4FY20 Q4FY21
ENA Ethanol
----- End of picture text -----

==> picture [193 x 193] intentionally omitted <==

----- Start of picture text -----

Edible Oil Revenue (INR Mn.)
32,240
13,351
Q4FY20 Q4FY21
----- End of picture text -----

==> picture [203 x 164] intentionally omitted <==

----- Start of picture text -----

Real Estate Revenue (INR Mn.)
591
507
Q4FY20 Q4FY21
----- End of picture text -----

8

FY21 Se mental Hi hli hts g g g

==> picture [126 x 32] intentionally omitted <==

Distillery Revenue (INR Mn.)

==> picture [221 x 372] intentionally omitted <==

----- Start of picture text -----

2,090 2,039
1,169
1,048
FY20 FY21
ENA Ethanol
Distillery Volumes (in KL)
40,615
37,859
28,634
24,313
FY20 FY21
ENA Ethanol
----- End of picture text -----

Edible Oil Revenue (INR Mn.)

==> picture [193 x 152] intentionally omitted <==

----- Start of picture text -----

97,943
49,562
FY20 FY21
----- End of picture text -----

==> picture [203 x 163] intentionally omitted <==

----- Start of picture text -----

Real Estate Revenue (INR Mn.)
2,673
2,227
FY20 FY21
----- End of picture text -----

9

Financial Overview

Quarterly Consolidated Income Statement

==> picture [126 x 32] intentionally omitted <==

Particulars (INR Mn)	Q4-FY21	Q4-FY20	Y-o-Y	Q3-FY21	Q-o-Q
Total Income*	4,313	2,258	91.0%	4,015	7.4%
Total Expenses	4,041	2,121	90.5%	3,796	6.5%
EBITDA	272	137	98.5%	219	24.2%
EBITDA Margins (%)	6.31%	6.06%	25 Bps	5.45%	86 Bps
Depreciation	32	34	(5.9)%	32	NA
Finance Cost	48	39	23.1%	47	2.1%
PBT	192	64	NA	140	37.1%
Tax	59	29	NA	39	51.3%
Profit After tax	133	35	NA	101	31.7%
PAT Margins (%)	3.08%	1.55%	153 Bps	2.52%	56 Bps
Other Comprehensive Income	(9)	7	NA	-	NA
Total Comprehensive Income	124	43	NA	101	22.8%
Diluted EPS (INR)	5.91	1.81	NA	4.17	41.7%

11

*Includes other income

Note: All numbers are as per Ind-As

FY21 Consolidated Income Statement

==> picture [126 x 32] intentionally omitted <==

Particulars (INR Mn)	FY21	FY20	Y-o-Y
Total Income*	14,361	9,255	55.2%
Total Expenses	13,494	8,623	56.5%
EBITDA	867	632	37.2%
EBITDA Margins (%)	6.43%	6.83%	(40) Bps
Depreciation	128	135	(5.2)%
Finance Cost	160	148	8.1%
PBT	579	349	65.9%
Tax	157	91	72.5%
Profit After tax	422	258	63.6%
PAT Margins (%)	2.94%	2.79%	15 Bps
Other Comprehensive Income	(4)	8	NA
Total Comprehensive Income	418	266	57.1%
Diluted EPS (INR)	18.75	13.49	39.0%

12

*Includes other income

Note: All numbers are as per Ind-As

Historical Consolidated Income Statement

==> picture [126 x 32] intentionally omitted <==

Particulars (INR Mn)	FY19	FY20	FY21
Total Income*	9,037	9,255	14,361
Total Expenses	8,225	8,623	13,494
EBITDA	812	632	867
EBITDA Margins (%)	8.99%	6.83%	6.43%
Depreciation	108	135	128
Finance Cost	186	148	160
PBT	518	349	579
Tax	105	91	157
Profit After tax	413	258	422
PAT Margins (%)	4.57%	2.79%	2.94%
Other Comprehensive Income	9	8	(4)
Total Comprehensive Income	422	266	418
Diluted EPS (INR)	23.99	13.49	18.75

13

*Includes other income Note: All numbers are as per Ind-As

Consolidated Balance Sheet (Ind-AS)

==> picture [126 x 32] intentionally omitted <==

Particulars (INR Mn)	FY20	FY21
ASSETS
Non-Current Assets
Property,Plant & Equipment	1,287	1,285
Capital Work inprogress	192	287
Right to Use	1	1
Goodwill on Consolidation	-	-
Investment Property	4	4
Intangible assets under development	-	1
Financial Assets
Investments	43	40
Long-term Loans and Advances	-	-
Other non-current assets	156	215
Sub Total Non Current Assets	1,683	1,833
Current Assets
Inventories	3,327	2,508
Financial Assets
(i)Investments	312	218
(ii)Trade Receivables	351	1,348
(iii)Cash and Cash Equivalents	136	139
(iv)Loans	5	-
(v)Others	-	3
Other Current Assets	170	218
Assets classified as held for sale	53	53
Sub Total Current Assets	4,354	4,487
TOTAL ASSETS	6,037	6,320

Particulars (INR Mn)	FY20	FY21
EQUITY AND LIABILITIES
Equity
Share Capital	192	242
Other Equity	1,983	2,605
Non Controlling Interest	-	25
Total Equity	2,175	2,872
Non Current Liabilities
(i)Borrowings	652	580
(ii)Other Financial Liabilities	31	37
Provisions	17	20
Deferred Tax Liabilities (net)	128	126
Sub Total Non Current Liabilities	828	763
Current Liabilities
(i)Borrowings	997	991
(ii)Trade Payables	1,532	995
(iii)Other Financial Liabilities	350	387
Other current Liabilities	119	184
Provisions	2	5
Current Tax Liabilities (Net)	34	123
Sub Total Current Liabilities	3,034	2,685
Sub Total Liabilities	3,862	3,448
TOTAL EQUITY AND LIABILITIES	6,037	6,320

14

Ca ital Market Data p

==> picture [126 x 32] intentionally omitted <==

==> picture [831 x 436] intentionally omitted <==

----- Start of picture text -----

300.0%
BCL Sensex
250.0%
200.0%
150.0%
100.0%
50.0%
0.0%
-50.0%
Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21
Price Data (31 [st] March, 2021) Shareholding Pattern (31 [st] March, 2021)
Face Value (INR) 10.0
Market Price (INR) 106.6 AIF
1.62% Promoter
52 Week H/L (INR) 148.0/33.0 61.36%
Market Cap (INR Mn) 2,574.4
Equity Shares Outstanding (Mn) 24.1 Public
37.02%
1 Year Avg. trading volume ('000) 137.4
----- End of picture text -----

15

Disclaimer

==> picture [126 x 32] intentionally omitted <==

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of BCL Industries Limited, which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further information please contact our Investor Relations Representatives:

==> picture [97 x 73] intentionally omitted <==

Valorem Advisors Mr. Anuj Sonpal, CEO Tel: +91-22-49039500 Email: bcl@valoremadvisors.com

16