Bigbloc Construction stock gains near 1.5% post strong Q3 earnings

25 Jan 2022 , 09:17 AM

BigBloc Construction Limited has announced its financial results for quarter ended December 31,2021. In a regulator filing the company highlighted the financial performance for the quarter.

Standalone Financial Highlights for Q3 FY22
Total Income for the quarter ended December 2021 at Rs3,179 lakhs was higher by 45% over corresponding quarter last year’s income of Rs2,198 lakhs. EBITDA for the quarter ended December 2021 was reported at Rs463 lakhs (EBITDA Margin at 14.6%) as compared to Rs244 lakhs (EBITDA Margin at 11.5%) over previous fiscal’s same period.

This is mainly because of stable average realizations of our high margin products, efficient product mix, production efficiency, cost reduction and higher capacity utilization. PAT for Q3FY22 increased to Rs226 lakhs over corresponding quarter last year’s PAT of Rs58 lakhs. The Earnings Per Share was at Rs0.32 per share for Q3FY22.

Standalone Financial Highlights for 9M FY22
Total Income for 9M FY22 stood at Rs7,523 lakhs, was higher by 120% over corresponding 9M FY21 income of Rs3,413 lakhs. EBITDA for 9M FY22 was reported at Rs1,160 lakhs (EBITDA Margin at 15.6%) as compared to Rs210 lakhs (EBITDA Margin at 6.4%) over previous fiscal’s same period. PAT for 9M FY22 increased to Rs545 lakhs over corresponding to 9M FY21 PAT of Rs-290 lakhs. The Earning EPS was at Rs0.77 per share for 9M FY22.

Key Developments during the quarter

• The promoter shareholding increased to 71.81% in December 2021
• BigBloc Construction announces Joint Venture Agreement with SCG International for manufacturing and distribution of AAC Block and panels in Gujarat. BigBloc owns 52% stake and SCG International own 48% stake in the JV

Commenting on the Performance, Narayan Saboo, Chairman said, “I am extremely pleased to present to you the third quarter results.”. As we move towards expansion and growth, the performance of your company has been encouraging. We are integrating various effective measures and cost-effective strategies at BigBloc to increase our operational efficiency, ensure we maintain a strong focus on our products, and maximize our footprints across the western region. In upcoming quarters, we expect revenue and profitability to increase due to a further improvement in demand from current levels.

In the quarter, your company established a Joint Venture with SCG International for the production and distribution of AAC blocks and panels in Gujarat. It is our belief that the joint venture will be successful as a result of the strong symbiosis between the two parties. SCG will assist BigBloc in creating and accelerating the smooth transition to innovative products. BigBloc is an established and reputed presence in ALC Blocks. In order to create value, SCG will continue to leverage its knowledge and experience to positively impact the Indian construction industry.”

At around 9:17 AM, BIGBLOC Construction was trading at Rs72.40 per piece higher by 1.40% on Sensex.