Surat (Gujarat) [India], August 13: BigBloc Construction Limited, one of the largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks and Panels in India has reported consolidated net profit of Rs. 3.03 crore (PAT margin 5.80%) for the Q1 FY 2024-25 ended June 2024. Revenue from Operations during Q1 FY 2024-25 was reported at Rs. 51.57 crore. EBITDA for Q1 FY2024-25 stood at Rs. 9.65 crore (EBITDA Margin 18.71%). EPS for Q1FY25 stood at Rs. 0.62 per share.

Highlights

Company has recommended 1:1 Bonus Issue to reward existing shareholders, enhance liquidity, and expand the shareholder base.

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

The above Net Profit i.e. PAT is after set off of Loss of Rs. 2.83 Cr. of JV Company, SIAM Cement BigBloc Construction Technologies Private Limited in which Bigbloc Construction Limited holds 52% stake while SCG International India Private Limited holds 48% stake. Net Profit attributable to the Company is Rs. 4.39 Cr.

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.

Mr. Narayan Saboo, the Chairman, Bigbloc Construction Ltd said, “Our company is making significant strides in its long-term growth roadmap, positioning ourselves as a leader in the AAC block industry in India. With projects at Kapadvanj and Wada progressing on schedule, we’re set to transform the market. To reward our loyal shareholders and enhance liquidity, the board has recommended a bonus issue, reinforcing our equity base. We remain focused on innovation, operational efficiency, and sustainability, which will drive future growth and value for all stakeholders.”

The Company in its board meeting on July 19, 2024 has recommended issue of bonus equity shares in the ratio of 1:1 i.e. one bonus equity share for every one existing equity share held by the shareholders of the company as on the record date, subject to the approval of shareholders at the AGM on August 29, 2024. The bonus issue is aimed at rewarding existing shareholders, enhance liquidity, and expand the shareholder base. Free reserves of Rs. 28.31 crore will be utilized for the Bonus Issue. Subject to obtaining necessary approvals, the bonus shares shall be credited within 2 months from the date of the Board approval i.e. on or before September 18, 2024.

“The company experienced flat volume growth in Q1FY25 due to market disruptions linked to the Holi festival and delays associated with the Loksabha Elections. These disruptions particularly impacted the West and North regions, where migrant labor is essential. Additionally, in Ahmedabad and Gandhinagar, construction activities were paused for 4 to 5 hours daily in May 2024 due to extreme heat, in line with Municipal Corporation guidelines, which affected the demand for blocks. Moreover, the Umargaon plant has been undergoing a planned temporary shutdown for technology upgrades since May 18, 2024.

Profitability during the quarter remained under pressure as the company had incurred expenses for inauguration and product launch and various other markeing related expenses of “ZMARTBUILD WALL” for the newly commercialised JV plant. Additionally, depreciation and other operating expenses have been charged for the full quarter, however, corresponding revenue generation has been less, added Mr. Saboo. ”

The board also approved the proposal of increasing the authorised share capital of the company to Rs. 30 crore divided into 15 crore Equity Shares of Rs. 2 each, subject to approval of the members and regulatory authorities.

Bigbloc Building Elements Pvt Ltd

Bigbloc Building Elements Pvt Ltd, wholly owned subsidiary of the company aims to double the production capacity of Wada plant to 5 lakh cubic meter per annum in Phase 2 from existing 2.5 lakh cubic meter per annum. With a commitment towards keeping the carbon footprints to the lowest possible, company is installing a rooftop solar power project of 625 KW at is Wada Plant with an investment of Rs. 2.5 crore. The capacity utilisation at Bigbloc Building Elements Private Limited for the first quarter was 78%.

The installed capacity has increased from 300,000 CBM to 400,000 CBM per annum from 1st June 2024. The Plant is undergoing further capacity expansion, which will the increase installed capacity to 500,000 CBM. The same is planned to be completed within 2 months.

Committed to the Green Initiative and fostering a sustainable environment while reducing carbon footprint, has decided to install a rooftop solar power project of 625 Kilo Watts.

SIAM Cement Big Bloc Construction Technologies Pvt Ltd

SIAM Cement BigBloc Construction Technologies Pvt Ltd, a joint venture between BigBloc Construction Ltd and Thailand’s SCG International, has launched its India operations with a Rs. 65 crore investment in Kheda, Gujarat. The company inaugurated India’s first AAC Wall Plant on June 10, 2024, producing large-format AAC Wall products ranging from 8 to 12 feet in length, 2 feet in width, and 3 to 8 inches in thickness.

The plant, with a capacity of 2.5 lakh cubic meters annually, is expected to generate Rs. 100 crore in revenue at full capacity. The joint venture aims to expand to 5 lakh cubic meters per year in the second phase, fostering innovation in the Indian construction market.

Company has launched new products in the market under the brand name “ZMARTBUILD WALL by NXTBLOC”. The plant has started recently and has been facing teething issues since it is a new product.

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.

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.

During the quarter company added new customers including Aurum Girnar Pvt Ltd, Unique Spaces, Aishwaryam Group, Bhoomi Pratishta by Bhoomi Group, Soham Infra Build Pvt Ltd, Kaavyaratna Pravesh LLP, Riviera, Trine Projects India Pvt Ltd, Darshanam Realty, Gamara Buildcon Pvt 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.