BigBloc Construction Ltd. declares Q4 FY24 Net Profit of Rs. 8.65 crore, up 55.65% year over year
[India], Surat (Gujarat), May 8: One of India’s biggest producers of aerated autoclaved concrete (AAC) blocks, bricks, and panels, BigBloc Construction Limited, reported a consolidated net profit of Rs. 8.65 crore (PAT margin of 12.05%) for the quarter that ended in March 2024.
This represents a growth of 55.65% year over year and compares to the net profit of Rs. 5.56 crore (PAT margin 11.76%) in the Q4 of FY23. In Q4 FY24, income from operations was recorded at Rs. 67.95 crore, up 46% year over year from the revenue of Rs. 46.55 crore recorded in Q4 FY23. In Q4 FY24, EBITDA was Rs. 12.55 crore (EBITDA Margin: 18.47%), an increase of 18.35% from Q4 FY23’s EBITDA of Rs. 10.60 crore (EBITDA Margin: 22.78%). At Rs. 1.22 per share, EPS for Q4FY24 was recorded. Subject to approval at the annual general meeting, the company has suggested a final dividend for the fiscal year 23–24 at a rate of 20%.
The business has suggested a final dividend for FY 23–24 at a rate of 20%.
With an installed capacity of 10.75 lakh cubic meters annually, BigBloc Construction Ltd., which was founded in 2015, is one of the biggest and only publicly traded companies in the AAC Block Space. The production facilities of the company are situated at Wada (Palghar) in Maharashtra and Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat. In the AAC sector, it is one of the relatively few companies that produces carbon credits.
Bigbloc Construction Ltd.’s chairman, Mr. Narayan Saboo, stated: “The company achieved its highest-ever revenue, EBITDA, and net profit figures in Q4 and FY24, reflecting robust operational and financial performance. These results marked a milestone.” This steady performance demonstrates the company’s dedication to meeting its long-term growth plan objectives and generating growth while preserving good margins. In the next few years, we anticipate that the growing trend will continue and perhaps pick up more steam. Future growth and value maximization for all stakeholders will be largely determined by the company’s strategic growth plans, operational effectiveness, and focus on introducing novel and environmentally responsible solutions.
By June 2024, the firm will have increased its overall capabilities to 13 lakh cubic meters annually, making it one of the major players in the nation after all current expansions have been completed.
High points: FY24 Performance
The company’s consolidated net profit for FY24 was Rs. 30.69 crore (PAT margin 12.4%), up from Rs. 30.14 crore (PAT margin 15.00%) for FY23. With operating income of Rs. 200.11 crore in FY23, operational revenue during FY24 was reported to have increased by 21.55% YoY to Rs. 243.22 crore. Compared to FY23’s EBITDA of Rs. 50.01 crore (EBITDA Margin 24.99%), FY24’s EBITDA was Rs. 56.15 crore (EBITDA Margin 23.09%), an increase of 12.29%. The earnings per share (EPS) for FY24 was Rs. 4.36.
India’s top producer of AAC blocks is BigBloc Construction Limited. Under the brand name “NXTBLOC,” the company sells its goods. The firm now has more than 1,500 projects in the works, having completed over 2,000 of them before. The clientele of the firm comprises of various entities such as Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Raheja, PSP Projects, Sunteck, Sethia Infrastructure Pvt Ltd, Dosti Group, and Purvankara Ltd. Afcon Infrastructure, Birla Vanya, Symbiosis International University, GERA Developers Pvt Ltd, Nyati Group, MIT World Peace University, Som Projects Pvt.Ltd, JSW Steel factory – Vasind, and many more were among the new customers, the company said. AAC blocks are a non-toxic, environmentally friendly alternative to conventional bricks. They are also lightweight, soundproof, and fire-resistant, with improved build quality.
