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PTL Enterprises Ltd, Punjab & Sind Bank, Ind Bank Housing Ltd and Indbank Merchant Banking Services Ltd are among the other gainers in the BSEs B group today, 18 September 2023.BIGBLOC Construction Ltd spiked 18.25% to Rs 183.35 at 18-Sep-2023 EOD IST. The stock was the biggest gainer in the BSEs B group. On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 23971 shares in the past one month.  PTL Enterprises Ltd surged 12.71% to Rs 41.6.  The stock was the  second biggest gainer in B group. On the BSE, 74542 shares were traded on the counter so far as against the average daily volumes of 51605 shares in the past one month.  Punjab & Sind Bank soared 11.57% to Rs 49.85.  The stock was the  third biggest gainer in B group. On the BSE, 23.21 lakh shares were traded on the counter so far as against the average daily volumes of 6.54 lakh shares in the past one month.  Ind Bank Housing Ltd added 11.34% to Rs 42.92.  The stock was the  fourth biggest gainer in B group. On the BSE, 30361 shares were traded on the counter so far as against the average daily volumes of 6776 shares in the past one month.  Indbank Merchant Banking Services Ltd advanced 11.14% to Rs 45.11.  The stock was the  fifth biggest gainer in B group. On the BSE, 4.29 lakh shares were traded on the counter so far as against the average daily volumes of 58151 shares in the past one month.  

BIGBLOC Construction Ltd leads gainers in 'B' group

BigBloc Construction announced that the 8th Annual General Meeting (AGM) of the company will be held on 25 September 2023.

BigBloc Construction to convene AGM

Promoter group entities comprising of 60.03% equity shares of the company out of total 72.27% held by promoter group informed their decision to waive off the dividend rights announced for FY23. This decision was made to support the ongoing expansion plans of the company. The board of directors acknowledged this at the meeting held on 29 August 2023. The remaining shareholders will receive the dividend, pending approval at the annual general meeting (AGM).In a meeting on 24 May 2023, the board recommended a final dividend of Rs 0.40 per equity share of Rs 2 each, at a rate of 20%, subject to shareholders approval at the AGM.Additionally, during the meeting held on 29 August 2023, the board recommended providing loan, guarantee, or security in connection with loans taken by the companys subsidiaries. The annual general meeting of the company is scheduled to be held on 25 September 2023.BigBloc Construction, in joint venture with Thailands SCG Group, is in the process of setting up a plant in Kapadvanj, Ahmedabad (Gujarat) for ALC panels and AAC blocks, with a capacity of 3 lakh cbm per annum. The company also plans to initiate work on Phase 2 of the Wada Project in Palghar, Maharashtra, in the current financial year. Moreover, company has installed solar rooftop projects at its Umargam unit and plans to do the same at the Kapadvanj manufacturing facilities to minimize carbon footprints.      The companys chairman, Narayan Saboo, said that the company is progressing well in achieving a leadership position in the AAC block space and aims for a sales growth of 20-25% in FY24. BigBloc Construction is a prominent company in the AAC Block Space with an installed capacity of 8.25 lakh cbm per annum. Their AAC blocks are known for their superior quality and offer a unique combination of strength, lightweight, thermal insulation, soundproofing, and fire resistance. The companys products are marketed under the brand name NXTBLOC and are used by renowned clients such as Lodha, Adani Realty, IndiaBulls Real Estate, Prestige, and many more.On a consolidated basis, net profit of BigBloc Construction declined 28.59% to Rs 6.02 crore on 1.21% fall in net sales to Rs 54.87 crore in Q1 June 2023 over Q1 June 2022. 

Bigbloc Construction rises as promoters waive dividend rights for FY23

BigBloc Construction will hold a meeting of the Board of Directors of the Company on 29 August 2023.

BigBloc Construction to hold board meeting

Bigbloc Constru Consolidated June 2023 Net Sales at Rs 54.87 crore, down 1.21% Y-o-Y

Bigbloc Constru Standalone June 2023 Net Sales at Rs 29.34 crore, down 6.65% Y-o-Y

Bigbloc Constru Consolidated March 2023 Net Sales at Rs 46.55 crore, down 12.16% Y-o-Y

Bigbloc Constru Standalone March 2023 Net Sales at Rs 27.92 crore, down 4.96% Y-o-Y

The company expects to meet the growing demand of AAC blocks in Western India and strengthen its position in the markets including Maharashtra, Gujarat, Madhya Pradesh and Rajasthan with the commercial operation of the Wada plant. At full capacity, Wada plant is expected to generate revenues of Rs 200 crore per year and will employ around 350-400 people at the plant.Total capex for the Wada project is estimated to be around Rs 70 crore for setting up 5 lakh cubic meter (cbm) per annum plant. The company has invested Rs 48 crore in the project so far for the commercial operations of Phase I. The company is eligible for 60% subsidy from the state government for the project and expects to generate 1 lakh units of carbon credits per annum from the Wada project.Narayan Saboo, chairman & managing director, Bigbloc Construction, said, “Company will be in a better position to serve the growing demand of AAC blocks in Western India from the Wada plant and strengthen its leadership position in the AAC block space in India. The company has delivered a robust operational and financial performance over the years and is expected to maintain the strong growth momentum in coming years.”BigBloc Construction is one of the largest and only listed company in the AAC Block Space with a capacity of 5.75 lakh cbm per annum. Green and non-toxic building construction material, AAC blocks are economical, lightweight, soundproof, fire resistance with superior build quality and saves energy, eco-friendly and economical too compared to traditional bricks. It is the only company in this segment that generates carbon credits from its operations.For nine months ended December 2022, the company reported a consolidated net profit of Rs 24.67 crore (PAT margin 16.1%), growth of 186.7% YoY. Total income during the period was reported at Rs 153.70 crore, rise of 25.3% YoY.The scrip rose 0.28% to currently trade at Rs 126 on the BSE.

Bigbloc Construction's subsidiary commences production at Maharashtra-based AAC Blocks plant

 BIGBLOC Construction announced that its wholly owned subsidiary Bigbloc Building Elements having its plant for greenfield project of AAC Blocks located at Village: Kanchad 421303, Taluka: Wada, District: Palghar, Maharashtra has started commercial production with effect from 12 April 2023.

Bigbloc Building Elements commences commercial production at greenfield project 

Bigbloc Construction Ltd. engages in the manufacturing of building blocks and aerated autoclave concrete bricks. It operates under the brand name of NXTBLOC. The company was founded on June 17, 2015 is headquartered in Surat, India.

Watchers	20
52-Wk Low	116.50
52-Wk High	183.90

Market Cap	11.87B
Volume (M)	272,042.00
52-Wk High	183.90
52-Wk Low	116.50

BIGBLOC.NSE Bigbloc Construction Ltd.

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