Cement & Cement Products company Bigbloc Construction announced Q2FY24 results:<br><br>Financial Performance:<br>- BigBloc Construction reported a total income of Rs 59.12 crore in Q2FY24, showing a growth of 21.8% YoY.<br>- The company achieved the highest-ever EBITDA of Rs 15.09 crore in Q2FY24, with an EBITDA margin of 25.51%.<br>- Consolidated net profit in Q2FY24 was Rs 7.56 crore, with a net profit margin of 12.80%.<br>- For the first half of FY24, the company reported a total income of Rs 114.06 crore, a rise of 9.5% YoY. The net profit for the same period was Rs 13.58 crore.<br><br>Dividends and Investment:<br>- The company declared a 10% interim dividend of Rs 0.20 per share for FY24.<br>- Majority of the promoter group has waived their dividend rights to support the company's expansion plans.<br>- The company's expansion projects in Wada and the joint venture with SCG Group are progressing as planned.<br><br>Expansion and Capacity:<br>- BigBloc Construction is planning to add another 2.5 lakh cubic meter per annum capacity at its Wada plant, increasing it to 5 lakh cubic meters.<br>- The joint venture plant with SCG Group is expected to start commercial production in the next 6-7 months, with a capacity of 3 lakh cubic meters per annum.<br>- The company is exploring manufacturing facilities in Northern and Southern India to meet the growing demand.<br><br>Carbon Credits and Green Initiatives:<br>- The company generates 60,000 carbon credits per annum from its Umargaon unit and expects to generate over 2 lakh credits per annum after all expansions are completed.<br>- BigBloc Construction aims to increase its product basket with the launch of ALC Panels, Block Jointing Mortar, Tile Adhesives, Gypsum Plaster, and other construction chemicals.<br>- The company is installing 450 kW solar rooftop facilities at its manufacturing facilities to reduce its carbon footprint.<br><br>Commenting on the company’s performance, Narayan Saboo, the Chairman, Bigbloc Construction said, “The Company has reported excellent numbers for Q2FY24 with a steady growth in Revenue and achieved the highest-ever EBITDA on a quarterly basis. We expect Q3 and Q4FY24 to be even better with higher capacity utilization across plants. We aim to achieve 25-30% sales growth in FY24 with a healthy EBITDA margin of 20-25%.<br><br>Expansion of 2nd phase of Wada project and joint venture plant with SCG are progressing as planned. Post completion of the current expansion company’s manufacturing capacity will increase to 13.75 lakhs cubic meter per annum. Further with a vision to become a prominent national player in the AAC Block space and meet the growing demand, the company is exploring manufacturing facilities in Northern as well as South India and expand the product basket.”<br><br>Mohit Saboo, Director & CFO, BigBloc Construction, said, “Company currently generates 60,000 units of carbon credits per annum from Umargaon unit while Wada (1st phase) is under the process of registration. Company expects to generate over 2 lakhs units of carbon credits per annum post all expansions are completed. Going forward, company also plans to increase the product basket with the launch ALC Panels, Block jointing Mortar, Tile Adhesives, Gypsum Plaster and other construction chemicals.”<br><br><br><br><br><br>Result PDF