1:1 Bonus Issue, Re 0.40/Sh Dividend Approved: Cement Co Declares 80% Jump In Net Profit

Small cap company engaged in the Cement & Cement Products industry, Bigbloc Construction Ltd on Monday recommended bonus share in the ratio of 1:1 and final dividend of Re 0.40 per equity share for the FY 2023-24. The company fixed July 26, 2024 as the record date for final dividend of 0.40 per equity share. Bigbloc Construction shares gained 67% year-to-date and rose 159% in last 2-years.

Its market capitalisation stood at Rs 1935.69 crore. Last trading price of Bigbloc Construction share on BSE 273.45 per share. Check details below:

Bigbloc Construction Recommends Bonus Share: As per the company's press release issued as on July 22, "The Company in its board meeting considered and recommended issue of bonus equity shares in the proportion of 1:1 i.e. one bonus equity shares of Rs. 2/- each for every one existing equity share of Rs. 2/- each held by the shareholders of the company as on the record date, subject to the approval of shareholders at the Annual General Meeting to be held on Thursday, August 29, 2024. Free reserves of Rs. 28.31 crore will be utilized for the Bonus Issue. The bonus issue is aimed at reward existing shareholders, enhance liquidity, and expand the shareholder base."

Bigbloc Construction Declares Final Dividend: The press release added, "the Board has also approved the declaration of final dividend at 20% i.e. Rs 0.40 per equity share for the FY 2023-24. The record date for the purpose of payment of final dividend is Friday, July 26, 2024. Promoter Group shareholders, comprising 60.18% of the shares of the company, are waiving their dividend (Final Dividend for Financial Year 2023-2024) considering the forthcoming expansions of the company."

Bigbloc Construction Financial Performance: For FY24, company has reported consolidated net profit of Rs. 30.69 crore. Revenue from operations during FY24 was reported at Rs. 243.22 crore, rise of 21.55% Y-o-Y as compared to operational revenue of Rs. 200.11 crore in FY23. EBITDA for FY24 stood at Rs. 56.15 crore, rise of 12.29% as against EBITDA of Rs. 50.01 crore. The Company has reported a strong operational and financial performance with a 5-year CAGR of 19% in Sales and over 80% in Net Profit.

Mr. Narayan Saboo, Chairman, Bigbloc Construction Ltd said, "Our Company is set to bring major transformation in the AAC Block industry. Further to reward our loyal shareholders and boost liquidity, the board has recommended a bonus issue. This move will enhance our equity base and support continued growth. We anticipate sustained momentum and look forward to further achievements in the coming years."

Bigbloc Construction Share Performance: The 52-week high price of Bigbloc Construction share on BSE is Rs 293.40 (as on 18/07/2024) and 52-week low price is Rs 137.55 per share (as on 17/08/2023), respectively. Bigbloc Construction shares jumped 48% in last 6-months, rose 67% year-to-date, rallied 81% in last 1-year, surged 4360% in last 3-years.

Bigbloc Construction Stock Split History: The cement stock split the face value once since November 15, 2021. Bigbloc Construction last split the face value of its shares from Rs 10 to Rs 2 in 2021.The share traded ex-split as on November 15, 2021.

Bigbloc Construction About: BigBloc Construction Limited is India's leading AAC block manufacturing company. The Company markets its products under the brand name 'NXTBLOC'. The company has executed over 2,000 projects so far and has another 1,500 plus in the pipeline. The company's clients include Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, and Sunteck, Sethia Infrastructure Pvt Ltd, Dosti Group, Purvankara Ltd among others.

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