BigBloc Construction Reports 11.69% YoY Growth in Q3FY24 Net Profit
The company has also declared a 2nd interim dividend of 10%, ₹0.20 per share on the face value of ₹2 per share for the FY 2023-24. The record date to determine the entitlement of the equity shareholders for dividend is 1st February 2024. The majority of the promoter group and its entities (Comprising 60.03% equity shares out of a total 72.27% held by the promoter group) have continued to waive off their dividend rights and communicated their decision to the board of directors considering the ongoing expansion plans same as they had waived their rights for the final dividend announced for FY22-23 as well as the first interim dividend of FY23-24.
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 8.25 lakhs cubic meters per annum. The company’s manufacturing plants are located in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra. It is among very few companies in AAC industry to generate carbon credits.
Narayan Saboo, the Chairman, Bigbloc Construction Ltd said, “The company has continued to excel in the December quarter, reporting robust operational and financial performance, marked by substantial revenue and profitability growth. Progress in the Wada, Maharashtra expansion and the joint venture with SCG Group signifies the commitment to timely project completion. The collaboration with SCG Group focuses on sharing techno-commercial knowledge, fostering mutual growth, and introducing cutting-edge building materials to the Indian market. With strategic initiatives, operational efficiency, and a vision for innovative products, the company anticipates sustained growth and value maximization for stakeholders in the short to medium term. The company expects to achieve 20-25% sales growth in FY24 with a healthy EBITDA margin of 20-25%.”
