July 28: BigBloc Construction Limited, one of the leading players in the manufacturing of Aerated Autoclaved Concrete (AAC) blocks, Bricks and Panels, reported a consolidated net profit of Rs 8.43 crore (PAT Margin 15.18 per cent) for the Q1 FY22-23, growth of 590 per cent as compared to the net profit of Rs 1.22 crore (PAT Margin 4.32 per cent) in Q1 FY21-22.
Total Income during Q1FY23 was reported at Rs 55.60 crores, a rise of 95 per cent YOY compared to a total income of Rs 28.57 crores in Q1FY22. EBITDA for Q1FY23 stood at Rs 12.21 crore (EBITDA Margin 22 per cent), a rise of 268 per cent as against EBITDA of Rs 3.33 crore (EBITDA Margin 11.66 per cent) in Q1FY22. EPS for Q1FY23 stood at Rs 1.19 per share, a rise of 600 per cent Y-o-Y.
Incorporated in 2015, BigBloc Construction Ltd is the only listed company in the AAC Block Space in India and the largest in Western India. Green and non-toxic building construction material, AAC blocks are economical, lightweight, thermal insulation, soundproof, fire resistant with the superior build quality and saves energy, eco-friendly and economical too compared to the traditional bricks. It is the only company in this segment which generates carbon credits.
Commenting on the Performance, Narayan Saboo, Chairman & Managing Director, Bigbloc Construction Ltd, said, “We are pleased to announce that the company has achieved financial closure for the expansion at Wada, Palghar in Maharashtra. Despite a challenging economic and business environment due to COVID 19, the company has delivered a robust financial performance quarter over quarter, maintaining healthy growth in revenue and profitability and expects to continue the growth momentum in the coming years. Strategic growth initiatives, robust financial performance, new product launches along with operational efficiency are likely to contribute to healthy growth and maximise value for all stakeholders in the near to medium term. ”
The company is setting up a green-field facility of 5 lakh cubic meters per annum for AAC Block at Wada, Palghar in Maharashtra. Total Capex for the project is estimated to be around Rs 65 crores, and the company will be eligible for a 60 per cent subsidy for the project from the state government. The project is eligible for carbon credits. The company had purchased 38,000 sq. mtrs of land for a plant at Wada, Palghar District, Maharashtra.
“Looking at the progress of the plant, we expect to start commercial production at the Wada unit by December 2022 as projected. Construction for the factory building is going as per schedule; the company has placed orders for most of the plant & machinery and shall start receiving machines at the site by Sep-Oct 2022. Company is one of the largest and only listed players in AAC block segment and intends to become largest in forthcoming future.” said Saboo.
In addition, the company has also entered into a joint venture with SCG International Corporation Co. Ltd (SIAM Group) to set up a 3 lakh cubic meter per annum facility near Ahmedabad to manufacture AAC blocks and AAC panels. SCG is one of the largest cement and building material companies in South East Asia and will hold 48 per cent in the joint venture, with 52 per cent being held by Bigbloc Construction Limited.
India is the second largest block manufacturer in the World after China. The Indian AAC block Industry is almost entirely unorganised and has around 150-180 plants with a large number of plants, especially in Western India. The Indian AAC blocks market is expected to grow to Rs 11,000 crores by 2027, registering a CAGR of 14.3 per cent during 2020-27.
The use of AAC blocks is expected to grow stupendously in the coming years owing to increased awareness, growth in the infrastructure sector, preferences for low-cost houses amongst the builders and architects, and several beneficial attributes of AAC blocks over red clay and fly ash bricks.
The government’s impetus through numerous infrastructure & housing projects and regulations to use eco-friendly construction material under its net-zero carbon emission mission are the primary factors for the growth of AAC.
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
I every time spent my half an hour to read this website’s posts daily along
with a mug of coffee. https://sites.google.com/view/d4d35r6rt6ty7u7outlookcom/
I view something truly special in this web site.
Hi my friend! I wish to say that this post is amazing, nice written and include approximately all vital infos. I would like to see more posts like this.
Very interesting topic, thankyou for putting up. “To have a right to do a thing is not at all the same as to be right in doing it.” by G. K. Chesterton.
I have learn a few excellent stuff here. Certainly worth bookmarking for revisiting. I wonder how a lot attempt you place to create the sort of excellent informative site.
I needed to send you one little bit of note to help thank you once again considering the amazing techniques you have featured on this site. It was really shockingly open-handed of people like you to grant freely exactly what a few individuals would’ve marketed for an e book in order to make some dough for themselves, principally considering that you might well have done it in case you desired. The tactics in addition served like the fantastic way to be sure that the rest have the identical keenness just like mine to learn somewhat more with reference to this matter. I’m sure there are thousands of more enjoyable instances up front for individuals that look into your blog.
I really enjoy studying on this web site, it has wonderful posts.
Awsome site! I am loving it!! Will be back later to read some more. I am bookmarking your feeds also
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
Heya just wanted to give you a brief heads up and let you know a few of the pictures aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same results.
Everything is very open and very clear explanation of issues. was truly information. Your website is very useful. Thanks for sharing.
Very interesting info !Perfect just what I was looking for!
Merely wanna say that this is invaluable, Thanks for taking your time to write this.
It’s exhausting to find educated people on this subject, but you sound like you know what you’re talking about! Thanks
I really appreciate this post. I?¦ve been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thank you again
Appreciating the commitment you put into your site and detailed information you provide. It’s good to come across a blog every once in a while that isn’t the same out of date rehashed information. Fantastic read! I’ve bookmarked your site and I’m including your RSS feeds to my Google account.