Bigbloc Construction records PAT of Rs 0.2 crore in Q2; EBITDA margin at 14.89%

Bigbloc Construction has reported 97.3% fall in consolidated net profit to Rs 0.2 crore on a 12.2% fall in revenue from operations to Rs 51.7 crore in Q2 FY25 as compared with Q2 FY24.

While EBITDA declined by 48.3% year-over-year (YoY) to Rs 7.7 crore, operating EBITDA margins contracted by 1,041 basis points YoY to 14.89% in the second quarter.

Depreciation charge and finance cost for the period under review were Rs 3.2 crore (up 23.1% YoY) and Rs 3.6 crore (up 56.5% YoY), respectively.

Profit before tax in Q2 FY25 stood at Rs 1.9 crore, down by 81.4% from Rs 10.4 crore in Q2 FY24. Tax outgo for the period under review was Rs 3 crore, down 76.1% YoY.

Narayan Saboo, executive chairman, Bigbloc Construction, said: The Q2 FY25 financial performance was primarily impacted by excessive monsoon conditions in Western India, which affected demand, production schedules, supply chains, and operational efficiency.

The consolidated capacity utilisation of the three running plants was 60%, which was lower due to the Umargaon, Wapi plant being shut due to technology upgradation.

We are optimist for a strong growth in the Q3 and Q4 of the FY25. Umargaon Plant upgradation has been completed as on 16 Oct 2024 and has commenced operations since which shall be scaled up gradually.

BigBloc Construction is one of the largest and only listed company in the AAC Block Space. BigBloc operates three AAC Block plants: one in Umargaon District Valsad, Gujarat, another in Wada, Maharashtra, and the third in Kapadvanj, District Kheda, Gujarat. The new facility in Kheda is companys fourth plant, uniquely equipped to manufacture both AAC blocks and the innovative AAC wall, known as the ZmartBuild wall. BigBloc is among very few company in AAC industry to generate carbon credits.

The scrip had tumbled 4.52% to end at Rs 108.75 on the BSE on Thursday.

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