Dividend7 May 2024, 10:19 pm
BigBloc Construction Ltd Reports 55.65% YoY Increase in Net Profit for Q4 FY24, Approves 20% Final Dividend
AI Summary
BigBloc Construction Ltd, one of India's largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels, reported a consolidated net profit of Rs. 8.65 crore (PAT margin 12.05%) for Q4 ended March 2024, a growth of 55.65% YoY as compared to the net profit of Rs. 5.56 crore (PAT margin 11.76%) in Q4 FY23. The revenue from Operations during Q4 FY24 was reported at Rs. 67.95 crore, a rise of 46% YoY. EBITDA for Q4 FY24 stood at Rs. 12.55 crore (EBITDA Margin 18.47%). The company has also recommended a final dividend at the rate of 20% for the FY 23-24 subject to the approval in the Annual General Meeting.
Key Highlights
- Commenced production at 2.5 lakh cbm per annum AAC Blocks and ALC Panels Greenfield unit in Kheda District near Ahmedabad
- Received eligibility certificate for a subsidy of Rs. 27.14 crore under incentive scheme, Government of Maharashtra for completion of Phase AAC blocks project at Wada in Palghar, Maharashtra
- Initiated work on the 2nd phase of the AAC blocks plant with 2.5 lakh cubic meter per annum capacity at Wada in Palghar, Maharashtra
- Total capacities will increase to 13 lakhs cbm per annum by June 2024
- Revenue from Operations for Q4 FY24 was Rs. 67.95 crore, a rise of 46% YoY
- Net profit for Q4 FY24 was Rs. 8.65 crore, a growth of 55.65% YoY
- EBITDA for Q4 FY24 was Rs. 12.55 crore (EBITDA Margin 18.47%)