Surat (Gujarat) [India] November 15: BigBloc Construction Limited, one of the largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks and Panels in India has reported revenue from operations of Rs. 51.66 crore for Q2FY25 ended September 2024 as compared to operational revenue of Rs. 58.90 crore in Q2FY24. EBITDA for Q2FY25 reported at Rs. 7.66 crore (EBITDA Margin 14.89%) as against EBITDA of Rs. 14.86 crore (EBITDA Margin 25.30%) in Q2FY24. Consolidated Net Profit during Q2FY25 was reported at Rs. 2.18 crore attributable to the owners of the Company.
During Annual General Meeting held on August 29, 2024, the company approved issue of bonus equity shares in the ratio of 1:1. Company also approved final dividend – 20% – Rs. 0.40 per equity share for the financial year ended March 2024 along with the 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.
Highlights:
- Bigbloc Building Elements Pvt Ltd, a wholly-owned subsidiary, has completed Phase 2 expansion at its Wada facility, doubling its manufacturing capacity from 2.5 lakh to 5 lakh cubic meters per annum.
- With the new solar plant, BigBloc constructions and subsidiaries will achieve 3475 KW of solar output
- Company has reported robust 3 year Revenue CAGR of 33% and EBITDA CAGR of 66%
- The promoters group increased holding in the company to 72.48% as of September 2024
The promoters group have increased their holding in the company to 72.48% as of September 2024, acquiring 1.34 lakh shares from the open market. Like the previous years, promoter group have continue to waive their rights for final dividend announced for the FY 2023-24 as well to support business expansion plans.
Commenting on the company’s performance, Mr. Narayan Saboo, Bigbloc Construction Ltd said, “The Q2 FY25 financial performance was primarily impacted by excessive monsoon conditions in Western India, which affected demand, production schedules, supply chains, and operational efficiency. The consolidated capacity utilisation of the three running plants was 60%, which was lower due to the Umargaon, Wapi plant being shut due to technology upgradation. We are optimist for a strong growth in the Q3 and Q4 of the FY25. Umargaon Plant upgradation has been completed as on 16 Oct 2024 and has commenced operations since which shall be scaled up gradually.”
The capacity utilization at Starbigbloc Building Material Ltd and BigBloc Building Elements Pvt Ltd for the second quarter was 76% while Siam Cement Bigbloc Construction Technologies Private Ltd was at 16% due to lower demand caused by monsoon and the company has introduced a new AAC (Autoclaved Aerated Concrete) wall product, which led to teething issues during production and pending certifications were also contributing to the low utilization.
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 1.3 million cbm per annum. Company’s manufacturing plants are located in Kheda, Umargaon (Vapi), Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra. Company’s facility in Kheda is uniquely equipped to manufacture both AAC blocks and the innovative AAC wall. It is among very few company in AAC industry to generate carbon credits.
The Company has reported robust 3 year Revenue CAGR of 33% and EBITDA CAGR of 66% along with healthy Return on Capital Employed of 21.38%, Return on Equity of 28.27% and Debt Equity of 1.1 times.
Business Highlights: – H1FY25 Results
- Bigbloc Building Elements Pvt Ltd, wholly owned subsidiary of the company has announced completion of phase 2 expansion of their AAC Blocks manufacturing plant located at Wada, Maharashtra. With this expansion, the company has doubled its manufacturing capacity from 250,000 to 500,000 cubic meters per annum thereby establishing BigBloc Constructions Limited as the one of the largest AAC block manufacturer in India. Additionally, 625 KW of solar rooftop at the Wada plant is also commissioned alongside the expansion.
- SIAM Cement BigBloc Construction Technologies Pvt Ltd, a joint venture between BigBloc Construction Ltd and Thailand’s SCG International, launched its India operations with a Rs. 65 crore investment in Kheda, Gujarat. The company has inaugurated India’s first AAC Wall Plant, producing large-format AAC Wall products (8-12 feet long, 2 feet wide, and 3-8 inches thick). The plant has an initial capacity of 2.5 lakh cubic meters per year with plans to double capacity in the next phase. Company has launched products under the brand name “ZMARTBUILD WALL by NXTBLOC”. BigBloc Construction holds 52% in the joint venture company.
- BigBloc Constructions Ltd. is advancing its Green Initiative by expanding solar capacity to foster sustainability and reduce its carbon footprint. Previously, it installed rooftop solar projects of 700 KW at the Umargaon plant and 625 KW at Wada. With a new order for an additional 2150 KW, the company’s total solar capacity will soon reach approximately 3475 KW across all facilities, supporting its commitment to a greener future.
- Bigbloc Construction Limited’s move into manufacturing construction chemicals is a strategic expansion that could position the company as a key player in the growing construction materials market. With products like Block Jointing Mortar, Ready Mix Plaster, and Tile Adhesives, the company is tapping into high-demand sectors within the construction industry.
India is the second largest block manufacturer in the World after China and AAC market in the country is expected to grow rapidly going forward. 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 DY Patil, JJ Hospital, Taj Hotels, Godrej Properties, Torrent Pharma, GAIL among others.
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