Mr. Narayan Saboo, Chairman & Managing Director, BigBloc Construction Ltd

Surat (Gujarat) [India], November 2: BigBloc Construction Restricted, one of the biggest producers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks and Panels in India has reported consolidated complete earnings of Rs. 59.12 crore for Q2FY24 ended September 2023, growth of 21.8% Y-o-Y as in comparison with complete earnings of Rs. 48.55 crore in Q2FY23. Firm has reported highest-ever EBITDA on quarterly foundation in Q2FY24. EBITDA for Q2FY24 reported at Rs. 15.09 crore (EBITDA Margin 25.51%), registering 8.1% Y-o-Y rise as in opposition to EBITDA of Rs. 13.96 crore (EBITDA Margin 28.75%) in Q2FY23. Consolidated Internet Revenue throughout Q2FY24 was reported at Rs. 7.56 crore (PAT margin 12.80%) as in comparison with the online revenue of Rs. 8.57 crore (PAT margin 17.65%) in Q2FY23. EPS for Q2FY24 was reported at Rs. 1.07 per share.

The Board of the Firm has additionally declared 10% Interim Dividend, Rs. 0.20 per share on the face worth of Rs. 2 per share for the FY 2023-24. Contemplating the continuing growth plans of the corporate, majority of the promoter group and its entities (Comprising 60.03% fairness shares out of complete 72.27% held by promoter group) have continued to waive off their dividend rights and communicated their resolution to the board of administrators. Promoter group had waived their rights for remaining dividend introduced for the FY2022-23 as properly.

Consolidated Monetary Highlights:

                                                                                                                        (Rs. in cr.)

Particulars   Q2 FY24 Q2 FY23 % Change H1 FY24 H1 FY23 % Change
Total Income 59.12 48.55 21.8% 114.06 104.15 9.5%
EBITDA 15.09 13.96 8.1% 27.80 26.23 6.0%
EBITDA Margin (%) 25.51 28.75 -324 bps 24.37 25.19 -82 bps
PAT 7.56 8.57 -11.8% 13.58 16.99 -20.1%
PAT Margin (%) 12.80 17.65 – 487 bps 11.90 16.32 – 442 bps
EPS (in Rs.) 1.07 1.21 -11.8% 1.92 2.40 -20.1%

Included in 2015, BigBloc Construction Ltd is one of the biggest and solely listed firm in the AAC Block House with an put in capability of 8.25 lakhs cbm every year. Firm’s manufacturing vegetation are positioned in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra. It’s amongst only a few firm in AAC business to generate carbon credit.

Commenting on the corporate’s efficiency, Mr. Narayan Saboo, the Chairman, Bigbloc Construction Ltd mentioned, “The Firm has reported wonderful numbers for Q2 FY24 with a gentle growth in Income and achieved highest-ever EBITDA on a quarterly foundation. We count on Q3 and This autumn FY24 to be even higher with greater capability utilization throughout vegetation. We intention to attain 25-30% gross sales growth in FY24 with a wholesome EBITDA margin of 20-25%.

Enlargement of 2nd part of Wada mission and three way partnership plant with SCG are progressing as deliberate. Publish completion of the present growth firm’s manufacturing capability will improve to 13.75 lakhs cubic meter every year. Additional with a imaginative and prescient to turn out to be a distinguished nationwide participant in the AAC Block house and meet the rising demand, the corporate is exploring manufacturing amenities in Northern in addition to South India and increase the product basket.”

India is the second largest block producer in the World after China with approximately150 vegetation. Indian AAC blocks market is predicted to develop quickly going forward changing crimson bricks.

Highlights: – H1FY24 Outcomes

For the six months ended September 2023, firm reported consolidated web revenue of Rs. 13.58 crore (PAT margin 11.90%) in H1FY24, as in comparison with the online revenue of Rs. 16.99 crore (PAT margin 16.32%) in H1FY23. Total earnings throughout H1FY24 was reported at Rs. 114.06 crore, rise of 9.5% Y-o-Y as in comparison with complete earnings of Rs. 104.15 crore in H1FY23. EBITDA for H1FY24 stood at Rs. 27.80 crore (EBITDA Margin 24.37%) as in opposition to EBITDA of Rs. 26.23 crore (EBITDA Margin 25.19%) in H1FY23. 

Enlargement at Wada: TheCompany’s wholly owned subsidiary – Bigbloc Constructing Components Pvt Ltd is predicted to start out work on the twond part of Wada mission in Palghar, Maharashtra. The Firm is planning so as to add one other 2.5 lakhs cubic meter every year capability of AAC block on the facility. Publish completion, Wada plant capability will improve to five lakhs cubic meter. At full capability, Wada plant is predicted to generate annual revenues of Rs. 200 crore and 1 lakhs models of carbon credit yearly.

In a three way partnership with Thailand’s SCG Group, M/s. SIAM Cement Massive Bloc Construction Applied sciences Pvt Ltd is establishing 3 lakhs cbm every year plant for ALC Panels and AAC Blocks at Kapadvanj, Ahmedabad (Gujarat). Firm count on to start out industrial manufacturing in subsequent 6-7 months. That is SCG Group’s first funding in India. BigBloc Construction holds 52% in the three way partnership firm.

Mr. Mohit Saboo, Director & CFO, BigBloc Construction Ltd, mentioned, “Firm at the moment generates 60,000 models of carbon credit every year from Umargaon unit whereas Wada (1st part) is underneath the method of registration. Firm expects to generate over 2 lakhs models of carbon credit every year put up all expansions are accomplished. Going ahead, firm additionally plans to extend the product basket with the launch ALC Panels, Block jointing Mortar, Tile Adhesives, Gypsum Plaster and different building chemical compounds.”

BigBloc Construction Restricted is India’s main AAC block and associated merchandise manufacturing firm. The Firm markets its merchandise underneath model identify ‘NXTBLOC‘. The Firm has executed over 2,000 mission to date and has one other 1,500 plus in the pipeline. The Firm shopper contains Lodha, Adani Realty, IndiaBulls Actual Property, Status, Piramal, Oberoi Realty, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Initiatives, L&T, Sunteck amongst others. The Firm is putting in 450 KW photo voltaic rooftop amenities at Umargam and Kapadvanj manufacturing amenities to maintain the carbon footprints to the bottom attainable. By this, firm will be capable of exchange roughly 33% of its energy requirement at each its plant with renewable inexperienced vitality – solar energy.

Inexperienced and non-toxic constructing building materials, AAC blocks are light-weight, soundproof, hearth resistant, supply superior construct high quality, eco-friendly and economical too in comparison with conventional bricks. Use of AAC blocks are anticipated to develop at a a lot sooner fee in the approaching years owing to elevated consciousness, growth in the infrastructure sector, demand for reasonably priced housing, Authorities’s impetus and laws to make use of eco-friendly building materials and several other different useful attributes over crimson clay and fly ash bricks.

Operational Highlights:- Q2FY24                                                              

  1. The Section 1 of Wada plant is operating at 70% plus capability utilisation. Firm to start out building prompts for part – 2 growth shortly.
  1. Construction on the upcoming JV manufacturing unit of Siam Cement Bigbloc Construction Applied sciences Pvt Ltd is operating in full swing. Firm intend to start out industrial manufacturing at this unit in roughly 6-7 months.
  1. In the course of the quarter firm added Mundra Photo voltaic Know-how Ltd (Adani Group), Mahindra Lifespace Builders Ltd, Solaris Group, Siddhi Infrastructure, Avadh Builders, Ami Organics Ltd, Alembic Ltd, Deepak Nitrite Ltd, Hindva Group, Konart Metal Buildings Pvt. Ltd and extra to the record of esteemed clients and likewise began supplying to Govt college tasks of Sarva Shiksha Abhiyan amongst others
  1. Within the quarter underneath assessment, some of the AAC (Autoclaved Aerated Concrete) manufacturing firms, which have been working their factories for 7-10 years, skilled points with their autoclaves. As one of the biggest and main producers of AAC Blocks, our firm carried out a complete analysis and testing of the autoclaves in any respect our factories. Provided that the Umargaon manufacturing unit is the oldest, we took the next proactive steps to deal with the problem:
  2. We quickly halted one of the autoclaves for half of the final quarter to evaluate the scenario.
  3. After the analysis, we made the choice to exchange 5 out of the six autoclaves on the Umargaon unit.
  4. Orders for the improve of these autoclaves have already been positioned, and the replacements are scheduled to be accomplished in the present quarter.

It’s vital to notice that these upkeep and improve measures have been fastidiously deliberate to attenuate any hostile results on manufacturing. As leaders in the AAC manufacturing business, we’re dedicated to sustaining the best requirements of gear reliability and effectivity by taking proactive steps for gear upkeep and upgrades as mandatory.

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