Multibagger Smallcap Stock Announces Major Development with Potential to Generate Rs 200 crore in Annual Revenue!
Get ready to be amazed by the incredible performance of this stock!
BigBloc Construction Limited, one of India’s largest manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks and Panels has informed that its wholly owned subsidiary - Bigbloc Building Elements Private Limited has started a trial run of machineries for Greenfield Project of AAC Blocks at Wada in Palghar, Maharashtra. Commercial production from the plant is expected to commence by end of March 2023. At full capacity, Wada plant is expected to generate revenues of Rs 200 crore per year.
Total capex for the Wada project is estimated to be around Rs. 65 crore for setting up the 5 lakh cubic meter (cbm) per annum plant at Wada, Maharashtra for manufacturing AAC blocks. Company has invested Rs. 48 crore in the project so far for the commercial operations of Phase I. Company is eligible for 60 per cent subsidy from the state government for the project and expects to generate 1 lakh units of carbon credits per annum from the Wada project. (i.e One carbon credit represents 1 tonne of CO2e that an organization is permitted to emit).
Commenting on the development, Mr. Narayan Saboo, Chairman & Managing Director, Bigbloc Construction Ltd said, “We are happy to announce the commencement of the trial run at Wada facility and confident to start commercial production from the facility very soon. The company is growing from strength to strength and has delivered a robust operational and financial performance over the years with healthy growth in revenue and profitability. Company’s strategic growth initiatives, operational efficiency and commitment to launching environment friendly and sustainable building products will contribute healthy growth and maximise value for all stakeholders in the near to medium term."
For the nine months ended December 2022, company reported a consolidated net profit of Rs. 24.67 crore (PAT margin 16.1 per cent), growth of 186.7 per cent Y-o-Y. Total income during the period was reported at Rs. 153.70 crore, rise of 25.3 per cent Y-o-Y. EBITDA for 9MFY23 stood at Rs. 39.54 crore (EBITDA Margin 25.7 per cent), rise of 134.9 per cent Y-o-Y. For FY22, Company reported Net Profit of Rs. 16 crore with EBITDA of Rs. 27.7 crore, total income of Rs. 175.8 crore.
Get ready to be amazed by the incredible performance of this stock! Over the past five years, it has skyrocketed an astonishing 293 percent, delivering multibagger returns that have left investors in awe. This is not just a mere jump, it's a quantum leap that has propelled the stock to new heights of success. The stock has a market cap of Rs 935 crore and hence, it falls under the Small-Cap category.