BigBloc Construction Limited Announces Financial Results For Quarter And Year Ended March 31, 2022

BigBloc Construction Limited

Ahmedabad, April 29 2022: Incorporated in 2015, BigBloc Construction Limited is a Premier Aerated Autoclaved Concrete (AAC) Block Manufacturing Company in the state of Gujarat.

The company 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.

Consolidated Financial Highlights:  

Fin. Highlights ConsolidatedQ4FY22Q4FY21% changeFY22FY21% change
(₹ in lakhs)
Total Income5,3103,93725%17,57810,31470%
EBITDA Margin (%)20.514.915.811.9
PAT Margin (%)
EPS (in ₹)1.060.49116%2.270.35549%

Standalone Financial Highlights for Q4 FY22

Total Income for the quarter ended March 2022 at ₹ 2,938 lakhs was higher by 25% over corresponding quarter last year’s income of ₹ 2,352 lakhs.

EBITDA for the quarter ended March 2022 was reported at ₹ 467 lakhs (EBITDA Margin at 15.9%) as compared to ₹ 508 lakhs (EBITDA Margin at 22.6%) over previous fiscal’s same period.

This is mainly because of stable average realizations of our high margin products, efficient product mix, production efficiency, and higher capacity utilization.

PAT for Q4FY22 increased to ₹ 225 lakhs over corresponding quarter last year’s PAT of ₹ 328 lakhs. The Earnings per share was at ₹ 0.32 per share for Q4FY22.

Standalone Financial Highlights for FY22

Total Income for FY22 stood at ₹ 10,462 lakhs, was higher by 81% over corresponding
FY21 income of ₹ 5,766 lakhs. EBITDA for FY22 was reported at ₹ 1,626 lakhs (EBITDA Margin at 15.7%) as compared to ₹ 718 lakhs (EBITDA Margin at 12.9%) over previous fiscal’s same period.

PAT for FY22 increased to ₹ 771 lakhs over corresponding to FY21 PAT of ₹ 38 lakhs. The EPS was at ₹ 1.09 per share for FY22.

Key Developments during the quarter

1) The promoter shareholding increased to 72.27% in March 2022 from 71.81% in December 2021.

2) 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.

Commenting on the Performance, Mr. Narayan Saboo, Chairman & Managing Director said,“The last quarter of FY22 saw a significant rise in number of Covid-19 cases which resulted in moderation of economic activity.

However, the economy gained momentum with decline in Covid cases in the months of February and March.

Despite the headwinds, your company has registered 70% consolidated growth in revenues for the financial year 2021-22. With the economy regaining normalcy, strong spikes in demand has been witnessed for our products.

During the year, your company laid down plans for installation of greenfield projects at Wada and Ahmedabad.

The facilities will have a combined capacity of 8,00,000 cbm p.a. With these new additions, your Company’s total capacities will increase to 13,75,000 cbm p.a. making us the leader in this industry.

We believe that, with this expansion we will be able to cater to the growing demand for this product and enhance our market share.

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 and further penetrate into untapped markets across the western regions.

Mr. 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 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.”

About the Group:

The group is promoted and owned by the SABOO Family having 4 decades of Business Vintage. Big Bloc 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.

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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.