look news india
Bigblock Construction Limited: BigBlock Construction Limited, one of the largest manufacturers of aerated autoclaved concrete (AAC) blocks and panels in India, has reported a net profit of Rs. 3.03 crores (net profit margin of 5.80 per cent) for the first quarter of the financial year 2024-25 ending June, 2024 as against a net profit of Rs. 5.90 crores (net profit margin 10.74 per cent).
Revenue from operations in the first quarter of FY 2024-25 was Rs. 51.57 crore as against Rs. 54.87 crore in the first quarter of FY 2023-24, showing a decline of 6 per cent year-on-year in revenue from operations. EBITDA in the first quarter of FY 2024-25 was Rs. 9.65 crore (EBITDA margin 18.71 per cent) as against Rs. 12.94 crore (EBITDA margin 23.04 per cent) in the first quarter of FY 2023-24. EPS per share for the first quarter of FY 2024-25 was Rs. 0.62.
The above mentioned net profit of joint venture company Siam Cement Bigblock Construction Technologies Pvt Ltd is Rs. 2.83 crore after setting off losses. Bigblock Construction has a 52 percent stake in this company while SCG International India Pvt Ltd has a 48 percent stake. The net profit of the company has increased to Rs. 4.39 crore.
Established in the year 2015, BigBlock Construction Limited is one of the largest companies in the AAC block sector and the only listed company. BigBlock operates four AAC plants: one at Umargaon in Valsad district of Gujarat, another at Wada in Maharashtra and the third at Kapadwanj in Kheda district of Gujarat. The new manufacturing unit at Kheda is the company's fourth plant equipped to manufacture both AAC blocks and innovative AAC walls. With this joint venture company, the total capacity of the company has increased to 1.3 million CBM per annum. It is one of the few companies in the AAC industry that generates carbon credits.
Narayan Saboo, Chairman, BigBlock Construction Limited said that our company is progressing significantly on the long-term growth path and establishing itself as a leader in the AAC block industry in India. We are poised to transform the market as projects in Kapadwanj and Wada are progressing as per schedule. The Board has recommended a bonus issue to compensate our shareholders and enhance liquidity which will further strengthen our equity base. We are focused on innovation, operational efficiency and sustainability which will drive future growth and value creation for all stakeholders.
