BigBloc Construction Ltd reports Net Profit of Rs. 8.65 crore in Q4 FY24, rise of 55.65% Y-o-Y

Surat: 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.

The Company has recommended a final dividend at the rate of 20% for the FY 23-24

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.

Mr. 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.”

Post completion of all ongoing expansion, the company’s total capacities will increase to 13 lakhs cubic meter per annum by June 2024 making the company one of the largest players in the country.

Highlights: - FY24 Results

Company for FY24 reported consolidated net profit of Rs. 30.69 crore (PAT margin 12.4%) as compared to the net profit of Rs. 30.14 crore (PAT margin 15.00%) in FY23. 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 (EBITDA Margin 23.09%), rise of 12.29% as against EBITDA of Rs. 50.01 crore (EBITDA Margin 24.99%) in FY23. EPS for FY24 stood at Rs. 4.36 per share.

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. Company added new clients including JSW Steel plant – Vasind, Birla Vanya, Symbiosis International University, GERA Developers Pvt Ltd , Nyati Group, MIT World Peace University, Som Projects Pvt.Ltd, Afcon Infrastructure among many others. Green and non-toxic building construction material, AAC blocks are lightweight, soundproof, and fire resistant, offer superior build quality, eco-friendly and economical too compared to traditional bricks.