BigBloc Construction Limited, one of India’s largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels, reported a consolidated net profit of Rs. 8.65 crore (PAT margin 12.05%) for the fourth quarter ended March 2024, up 55.65% year on year from Rs. 5.56 crore (PAT margin 11.76%) in Q4 FY23. Revenue from operations in Q4 FY24 was recorded at Rs. 67.95 crore, up 46% year on year from Rs. 46.55 crore in Q4 FY23. EBITDA for Q4 FY24 amounted to Rs. 12.55 crore (EBITDA Margin 18.47%), up 18.35% from Rs. 10.60 crore (EBITDA Margin 22.78%) in Q4 FY23. EPS for Q4FY24 was Rs. 1.22 per share. The Company has suggested a final dividend rate of 20% for FY 23-24, subject to approval at the Annual General Meeting.
The company has suggested a final dividend of 20% for FY 23-24.
BigBloc Construction Ltd, founded in 2015, is one of the largest and only public companies in the AAC Block Space, having a total installed capacity of 10.75 lakh cubic metres per year. The company’s manufacturing sites are in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat, and Wada (Palghar) in Maharashtra. It is one of the very few companies in the AAC business that create carbon credits.
Mr. Narayan Saboo, Chairman of Bigbloc Construction Ltd, stated, “Q4 and FY24 results marked a milestone with the company achieving its highest-ever revenue, EBITDA, and net profit figures, reflecting robust operational and financial performance. This consistent performance underscores the company’s commitment to delivering growth while maintaining healthy margins and adhering to its long-term growth strategy. We expect the growth momentum to continue and expect to get further boost in coming years. Company’s Strategic growth initiatives, operational efficiency, and a thrust on launching innovative and environmentally friendly solutions will be key differentiator and growth driver for future growth and value maximisation for all the stakeholders.”
After completing all ongoing expansion, the company’s overall capacity will climb to 13 lakh cubic metres per year by June 2024, making it one of the largest players in the country.
Highlights – FY24 results.
For FY24, the company reported a consolidated net profit of Rs. 30.69 crore (PAT margin 12.4%), compared to Rs. 30.14 crore (PAT margin 15.00%) in FY23. Revenue from operations in FY24 was recorded as Rs. 243.22 crore, up 21.55% year on year from Rs. 200.11 crore in FY23. EBITDA for FY24 amounted to Rs. 56.15 crore (EBITDA Margin 23.09%), up 12.29% from Rs. 50.01 crore (EBITDA Margin 24.99%) in FY23. EPS for FY24 was Rs. 4.36 per share.
BigBloc Construction Limited is India’s major AAC block manufacturer. The company sells its products under the brand ‘NXTBLOC’. The company has completed over 2,000 projects and has another 1,500+ in the works. Clients include Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, Sunteck, Sethia Infrastructure Pvt Ltd, Dosti Group, and Purvankara Ltd, among others. The company has added new clients such as JSW Steel Plant – Vasind, Birla Vanya, Symbiosis International University, GERA Developers Pvt Ltd, Nyati Group, MIT World Peace University, Som Projects Pvt.Ltd, and Afcon Infrastructure. AAC blocks are a green and non-toxic building construction material that is lightweight, soundproof, and fire resistant. They provide higher build quality while also being eco-friendly and cost-effective when compared to regular bricks.
By: Namit Pandey
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