BigBloc Construction board to consider bonus issue on July 19, Infra News, ET Infra

NEW DELHI: Leading AAC material manufacturer BigBloc Construction Ltd on Saturday said its board of directors will meet on July 19 to consider an issue of bonus shares to shareholders. The Surat-based company also said its wholly-owned subsidiary StarBigBloc Building Material Ltd plans to launch an SME IPO or preferential issue to support its expansion plans. “The board of directors will meet on July 19 to consider and approve an issue of bonus shares to reward existing shareholders, enhance liquidity and broaden the shareholder base,” BigBloc Construction said in a statement.

The company reported a net profit of Rs 30.69 crore for the financial year 2023-24. Revenue from operations increased by 21.5% to Rs 243.22 crore in FY2024 over the previous year.

BigBloc Construction’s share capital stands at Rs 14.14 crore, while its reserves stood at Rs 89.87 crore as on March 31, 2024, the statement said.

The company also announced a dividend payment of Rs 0.40 per share for 2023-24.

The company is one of the leading manufacturers of Autoclaved Aerated Concrete (AAC) blocks, bricks and panels in India.

AAC blocks are used in construction in place of traditional bricks. The company operates three AAC block plants: one at Valsad and Kheda in Gujarat and one at Wada in Maharashtra.

Its joint venture, SIAM Cement BigBloc Construction Technologies Pvt Ltd, recently started production at the Rs 65 crore AAC wall plant at Kheda in Gujarat.

Shares of Bigbloc Construction closed 6.36 per cent higher at Rs 253.40 apiece on the Bombay Stock Exchange on Friday.