Highlights
Company approved the proposal for 1:1 bonus at the Annual General Meeting; Bonus issue aimed at to reward existing shareholders, enhance liquidity, and expand the shareholder base.
Also approved proposal to increase the authorized share capital from Rs. 15 crore to Rs. 30 crore at AGM
Company has reported 5 year CAGR of 19% in Sales and over 80% in Net Profit
For FY24, company reported Revenue of Rs. 243.2 crore, EBITDA of Rs. 56.15 and PAT of Rs. 30.69 crore
New Delhi [India] October 5: Promoter Group of BigBloc Construction Limited, one of the largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels in India acquired over 1.34 lakh equity shares of the company from open market. Promoter Group holding in the company as on 30th September 2024 has increased to 72.51% in the company holding 10,26,66,012 equity shares.
Mrs. Madhu Narayan Saboo, belonging to promoter group of the company acquired 89,594 equity shares of the company on September 27, 2024 for Rs. 1.10 crore. The average price of acquisition was Rs. 123.74 per share. Post this acquisition, shareholding of Mr. Madhu Narayan Saboo in the company has increased to 5.75% with 81,35,154 equity shares.
On 30th September 2024, Mr. Narayan Sitaram Saboo (HUF), belonging to promoter group of the company acquired 45,000 equity shares of the company for Rs. 54 lakh. The average price of acquisition was Rs. 120 per share. Post this acquisition, shareholding of Narayan Sitaram Saboo (HUF) in the company has increased to 3.45% with 48,84530 equity shares.
The current boom in construction space and the government laws and regulations have supplemented the growth of AAC Block market in India. The conversion from brick to block is gradually gaining momentum. In Metros, builders and top developers are shifting to AAC blocks and adoption is over 60-70%. Demand from Tier II and industrial segment is going strong whereas in Tier II cities also 40% industry has shifted to AAC blocks. BigBloc Constructions Limited is set to bring major transformation in the AAC Block industry with quality building products. The company is also committed to environmental sustainability and has implementing solar power plants across all its manufacturing facilities. Recently, the company placed order for further installation of rooftop solar plant of 250 Kilo Watts (KW) further to its already installed a rooftop solar power project of 450 KW at its Umargaon (Vapi) unit. The company has already initiated a 625 KW rooftop solar project at its Wada Plant in Palghar, Maharashtra, thus bringing its total installed solar capacity to 1.3 MW.
The company had recently issued bonus equity shares in the ratio of 1:1 i.e. one bonus equity shares of face value Rs. 2 each for every one existing equity share of Rs. 2 each held by the shareholders of the company as on the record date, at company’s Annual General Meeting The bonus issue aimed at reward existing shareholders, enhance liquidity, and expand the shareholder base. Company also approved proposal of increasing the authorised share capital of the company from Rs. 15 crore to Rs. 30 crore divided into 15 crore Equity Shares of Rs. 2 each at the AGM.
For FY24, company has reported consolidated net profit of Rs. 30.69 crore. Revenue from operations during FY24 was reported at Rs. 243.22 crore, rise of 21.55% Y-o-Y as compared to operational revenue of Rs. 200.11 crore in FY23. EBITDA for FY24 stood at Rs. 56.15 crore, rise of 12.29% as against EBITDA of Rs. 50.01 crore. The Company has reported a strong operational and financial performance with a 5 year CAGR of 19% in Sales and over 80% in Net Profit.
Incorporated in 2015, BigBloc Construction Ltd is one of the largest and only listed company in the AAC Block Space. BigBloc operates four AAC plants: one in Umargaon District: Valsad, Gujarat, second in Wada, Maharashtra, and third in Kapadvanj, District Kheda, Gujarat. The new facility in Kheda is the company’s fourth plant, uniquely equipped to manufacture both AAC blocks and the innovative AAC wall. With this Joint Venture company’s total capacity has increased to 1.3 Million CBM/Annum. It is among the very few companies in AAC industry to generate carbon credits.
Sustainable and non-toxic building construction material, AAC blocks and AAC Walls are lightweight, soundproof, and fire resistant, offer superior build quality, eco-friendly and economical too compared to traditional bricks.
BigBloc Construction Limited is India’s leading AAC block manufacturing company. The Company markets its products under the brand name ‘NXTBLOC’. The company has executed over 2,000 projects so far and has another 1,500 plus in the pipeline. The company’s clients include Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, and Sunteck, Sethia Infrastructure Pvt Ltd, Dosti Group, Purvankara Ltd among others.
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
