Bigbloc Construction Ltd. reports net profit of Rs 16.08 Crore in FY22, rise of 551 percent Y-o-Y

Highlights:

-Purchased 38,000 sq. mtrs land for plant at Wada, Palghar district, Maharashtra under company's wholly owned subsidiary "Bigbloc Building Elements Private Limited"

-Promoter Group increased holding in the company to 72.27 per cent in March 2022 from 71.81 per cent in Dec 2021.

-The company has declared final equity dividend of 10 per cent amounting to Rs 0.20 per share

Consolidated Financial Highlights:

During the year, company laid down plans for installation of greenfield projects at Wada (Maharashtra) and Ahmedabad (Gujarat). The facilities will have a combined capacity of 8,00,000 cbm per annum With these new additions, company's total capacities will increase to 13,75,000 cbm per annum making us the leader in this industry.

Commenting on the Performance, Narayan Saboo, Chairman & Managing Director, Bigbloc Construction Ltd. said, "Despite the headwinds, your company has registered 70 per cent consolidated growth in revenues for the financial year 2021-22. This is mainly because of stable average realizations of our high margin products, efficient product mix, production efficiency, and higher capacity utilization. With the economy regaining normalcy, strong spikes in demand has been witnessed for our products. Further, with the expansion in Ahmedabad and Wada, company will be able to cater to the growing demand for this product, enhance market share and further penetrate into untapped markets across the western regions."

For Q4FY22 ended March 2022, company reported Consolidated Net profit of Rs 7.48 crore (PAT Margin 14.1 per cent), rise of 116 per cent as compared to the Net Profit of Rs 3.46 crore (PAT Margin 8.7 per cent) in Q4FY21. Total Income during Q4FY22 was reported at Rs 53.1 crore, 25 per cent growth as compared to total income of Rs 39.37 crore in Q4FY21. EBITDA for the Q4 FY22 stood at Rs. 10.87 crore (EBITDA Margin 20.5 per cent) as compared to EBITDA of Rs 5.89 crore (EBITDA margin 14.9 per cent) in Q4FY21.

Key Developments during the quarter:

-The promoter shareholding increased to 72.27 per cent in March 2022 from 71.81 per cent in December 2021.

-Purchased the land for plant/factory at Wada, Palghar District, Maharashtra, of 38,000 sq. mtrs. in the name of "Bigbloc Building Elements Private Limited" a wholly owned subsidiary of Bigbloc Construction Limited.

Saboo further stated, "The recent macro-economic conditions have led to soaring of input costs of key raw materials including cement, fuel costs and logistics. The company has put in place processes and systems to monitor these costs regularly and thereby reducing the impact on our margins. Our grit and determination remains focused towards implementing various cost effective measures and achieve operational excellence. We intend to putforth a strong hold over our products. Our performance this quarter reflects this momentum with strong revenue and EBITDA growth. This has been led by rigorous efforts in brand premiumization and a superior product portfolio. We further look to expand our dealer networks in the real estate and construction segment. With strong business fundamentals and domestic opportunity, we remain optimistic as we leverage our strengths to achieve higher growth and create greater shareholder value."

Bigbloc Construction Ltd. manufactures AAC blocks, a high-quality building material with a unique combination of strength, low weight, thermal insulation, sound absorption, unrivalled fire resistance, and unmatched build ability. The Company's manufacturing plants are located in Umargaon and Kapadvanj to cater to Maharashtra, Gujarat, Madhya Pradesh and Rajasthan. The company has destined itself towards producing sustainable products and solutions for a better environmental balance.

The Group is promoted and owned by the Saboo Family having 4 decades of Business Vintage. Bigbloc Construction Limited and Mohit Industries Limited are listed on the stock exchanges. Initially, started as a Textile Manufacturing company and over the years forayed into the Block Business. The second-generation entrepreneurs currently manage the business operations of the Group who are professionally qualified and have a diversified experience. The Group manufacturing plants are located in the state of Gujarat and has a workforce of 500+ members. The operations for block business are mostly concentrated in the domestic markets whereas the textile business has its presence overseas.

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