Construction & Engineering company Bigbloc Construction announced Q1FY25 results: Consolidated net profit of Rs 3.03 crore (PAT margin 5.80%) for the Q1FY25 ended June 2024 as compared to the net profit of Rs 5.90 crore (PAT margin 10.74%) in Q1FY24. Revenue from Operations during Q1 FY 2024- 25 was reported at Rs 51.57 crore, de-growth of 6% YoY as compared to revenue from operations of Rs 54.87 crore in Q1FY24. EBITDA for Q1 FY2024-25 stood at Rs 9.65 crore (EBITDA Margin 18.71%) as against EBITDA of Rs 12.64 crore (EBITDA Margin 23.04%) in Q1FY24. EPS for Q1FY25 stood at Rs 0.62 per share. The board also approved the proposal of increasing the authorised share capital of the company to Rs 30 crore divided into 15 crore Equity Shares of Rs 2 each, subject to approval of the members and regulatory authorities. Narayan Saboo, the Chairman, Bigbloc Construction Ltd said, “Our company is making significant strides in its long-term growth roadmap, positioning ourselves as a leader in the AAC block industry in India. With projects at Kapadvanj and Wada progressing on schedule, we're set to transform the market. To reward our loyal shareholders and enhance liquidity, the board has recommended a bonus issue, reinforcing our equity base. We remain focused on innovation, operational efficiency, and sustainability, which will drive future growth and value for all stakeholders." The Company in its board meeting on July 19, 2024 has recommended issue of bonus equity shares in the ratio of 1:1 i.e. one bonus equity share for every one existing equity share held by the shareholders of the company as on the record date, subject to the approval of shareholders at the AGM on August 29, 2024. The bonus issue is aimed at rewarding existing shareholders, enhance liquidity, and expand the shareholder base. Free reserves of Rs 28.31 crore will be utilized for the Bonus Issue. Subject to obtaining necessary approvals, the bonus shares shall be credited within 2 months from the date of the Board approval i.e. on or before September 18, 2024. “The company experienced flat volume growth in Q1FY25 due to market disruptions linked to the Holi festival and delays associated with the Loksabha Elections. These disruptions particularly impacted the West and North regions, where migrant labor is essential. Additionally, in Ahmedabad and Gandhinagar, construction activities were paused for 4 to 5 hours daily in May 2024 due to extreme heat, in line with Municipal Corporation guidelines, which affected the demand for blocks. Moreover, the Umargaon plant has been undergoing a planned temporary shutdown for technology upgrades since May 18, 2024. Profitability during the quarter remained under pressure as the company had incurred expenses for inauguration and product launch and various other markeing related expenses of "ZMARTBUILD WALL" for the newly commercialised JV plant. Additionally, depreciation and other operating expenses have been charged for the full quarter, however, corresponding revenue generation has been less, added Mr. Saboo. ” Result PDF
Conference Call with Bigbloc Construction Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Cement & Cement Products company Bigbloc Construction announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated net profit: Rs 8.7 crore (PAT margin 12.05%); growth of 55.7% YoY compared to Rs 5.6 crore (PAT margin 11.8%) in Q4 FY23. Revenue from Operations: Rs 67.9 crore; a rise of 46% YoY compared to Rs 46.6 crore in Q4FY23. EBITDA: Rs 12.6 crore (EBITDA Margin 18.47%); rise of 18.4% compared to Rs 10.6 crore (EBITDA Margin 22.8%) in Q4FY23. EPS: Rs 1.22 per share. FY24 Financial Highlights: Consolidated net profit: Rs 30.7 crore (PAT margin 12.4%); compared to Rs 30.1 crore (PAT margin 15.0%) in FY23. Revenue from Operations: Rs 243.2 crore; rise of 21.6% YoY compared to Rs 200.1 crore in FY23. EBITDA: Rs 56.2 crore (EBITDA Margin 23.09%); rise of 12.3% compared to Rs 50.0 crore (EBITDA Margin 24.9%) in FY23. EPS: Rs 4.36 per share. Final dividend recommended: 20% for FY24. Narayan Saboo, Chairman, Bigbloc Construction 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 stakeholders.” Result PDF