Gujarat-Based Multibagger Stock Doubles Capacity; Promoter Increases Stake - A Stock to Watch!
Share price has gained 774.82 per cent in the last three years as a result, it has delivered multibagger returns.
Gujarat-based Small-Cap company, BigBloc Construction Limited, a leading manufacturer of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels in India, has successfully completed Phase 2 expansion of its AAC block manufacturing facility at Wada, Maharashtra. This expansion doubles the company’s production capacity from 250,000 to 500,000 cubic meters per annum, solidifying BigBloc Construction as one of India’s largest AAC block manufacturers.
Mr. Narayan Saboo, Chairman of BigBloc Construction, shared his enthusiasm for this development, saying, “We are positioning ourselves as a leader in the AAC block industry in India. The completion of Phase 2 marks our commitment to scaling operations and addressing the dynamic needs of the market. Additionally, we have installed a 625KW rooftop solar plant at our Wada facility, underscoring our commitment to sustainability. Our future plans focus on expanding our geographic reach, diversifying product offerings, and strengthening our position as a premier provider of sustainable building materials.”
Recently, the promoters increased their stake in BigBloc Construction, acquiring over 1.34 lakh equity shares from the open market, which raised the promoter group’s holding to 72.51 per cent as of September 30, 2024. Demonstrating dedication to the company's growth, the promoters have foregone dividends for the past four years to support expansion efforts.
In a strategic move earlier this year, BigBloc entered a joint venture with Thailand’s SCG International Corporation Co., Ltd., forming SIAM Cement BigBloc Construction Technologies Pvt Ltd. Located in Kheda District near Ahmedabad, this facility is India’s first AAC Wall Plant, with an initial capacity of 2.5 lakh cubic meters per annum and a total investment of around Rs 65 crore. The plant is expected to create 250 jobs and generate Rs 100 crore in annual revenue at full capacity. Plans for the second phase of this joint venture include expanding capacity to 5 lakh cubic meters, introducing advanced AAC technology to the Indian construction sector, and meeting rising consumer demands.
Share price of BigBloc Construction has gained 774.82 per cent in the last three years as a result, it has delivered multibagger returns.
About BigBloc Construction Limited
BigBloc Construction Limited, India’s premier AAC block manufacturer, markets its products under the brand name 'NXTBLOC'. With over 2,000 completed projects and 1,500+ in progress, the company serves a distinguished client base, including Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, Piramal, Oberoi Realty, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L&T, Sunteck, Sethia Infrastructure Pvt Ltd, Dosti Group, and Purvankara Ltd, among others.
Disclaimer: The article is for informational purposes only and not investment advice.