BigBloc Construction Ltd reports Net Profit of Rs. 8.65 crore in Q4 FY24
In March 2024, its subsidiary, SIAM Cement BigBloc Construction Technologies Pvt Ltd commenced production at its 2.5 lakh cbm per annum AAC Blocks and ALC Panels Greenfield unit in Kheda District near Ahmedabad Bigbloc Building Elements Pvt Ltd received an eligibility certificate for a subsidy of Rs. 27.14 crore under incentive scheme, Government of Maharashtra for completion of Phase I - AAC blocks project at Wada in Palghar, Maharashtra. In December 2023, Bigbloc Building Elements Pvt Ltd has initiated work on the 2nd phase of the AAC blocks plant with 2.5 lakh cubic meter per annum capacity at Wada in Palghar, Maharashtra Post completion of the ongoing expansion, the company’s total capacities will increase to 13 lakhs cbm per annum by June 2024 BigBloc Construction Limited, one of the largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels in India has reported consolidated net profit of Rs. 8.65 crore (PAT margin 12.05%) for Q4 ended March 2024, growth of 55.65% Y-o-Y as compared to the net profit of Rs. 5.56 crore (PAT margin 11.76%) in Q4 FY23. Revenue from Operations during Q4 FY24 was reported at Rs. 67.95 crore, a rise of 46% Y-o-Y as compared to revenue of Rs. 46.55 crore reported in Q4 FY23. EBITDA for Q4 FY24 stood at Rs. 12.55 crore (EBITDA Margin 18.47%), rise of 18.35% as compared to EBITDA of Rs. 10.60 crore (EBITDA Margin 22.78%) during Q4 FY23. EPS for Q4FY24 stood at Rs. 1.22 per share. The Company has recommended a final dividend at the rate of 20% for the FY 23-24 subject to the approval in the Annual General Meeting. Incorporated in 2015, BigBloc Construction Ltd is one of the largest and only listed company in the AAC Block Space with an installed capacity of 10.75 lakh cubic meters per annum. Company’s manufacturing plants are located in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra. It is among very few company in AAC industry to generate carbon credits. Narayan Saboo, Chairman, Bigbloc Construction Ltd said, “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 maximization for all the stakeholders.”
Tags : BigBloc Construction subsidy Government of Maharashtra AAC Blocks ALC Panels Bricks Palghar net profit revenue EBITDA Narayan Saboo