Bigbloc Construction Profit Soars 55% in Q4, Shares Jump 3%

New Delhi, May 7 (PTI) Construction material manufacturer Bigbloc Construction Ltd on Tuesday reported a more than 55 per cent jump in profit after tax for the March quarter of FY2023-24 on the back of strong sales.

The Surat-based company, which is the largest manufacturer of Aerated Autoclaved Concrete (AAC) blocks, bricks, and panels in India, reported a profit after tax of Rs 8.65 crore for the March quarter against Rs 5.56 crore in the year-ago period, according to BSE filing.


The company's revenue from operations soared by 46 per cent to Rs 67.95 crore in the last quarter of 2023-24 compared to Rs 46.55 crore in the last quarter of 2022-23.


For the full fiscal, the company reported a profit after tax of Rs 30.69 crore against Rs 30.14 crore in the previous year.

Revenue from operations rose by 21 per cent to Rs 243.22 crore in 2023-24 against Rs 200.11 crore in 2022-23.

“Q4 and FY24 results marked a milestone with the company achieving its highest-ever revenue, EBITDA, and net profit figures, reflecting robust operational and financial performance,” Bigbloc Construction chairman Narayan Saboo said.

Meanwhile, shares of the company jumped around 3 per cent on Tuesday after renowned investor Shankar Sharma bought 3.65 lakh shares of the company in the open market. Bigbloc Construction shares closed 2.87 per cent up at Rs 272.10 on BSE on Tuesday.

The company has recommended a final dividend of Rs 0.40 per share or 20% for FY24 subject to the approval in the Annual General Meeting.


The company's installed capacity is 10.75 lakh cubic meters per annum. Its manufacturing plants are located in Umargaon (Vapi) and Kapadvanj (Ahmedabad) in Gujarat and Wada (Palghar) in Maharashtra.