BigBloc Construction board to consider bonus issue on Jul 19

New Delhi, Jul 6 (PTI) Leading AAC material manufacturer BigBloc Construction Ltd on Saturday said its board will meet on July 19 to consider a bonus share issue to shareholders.

The Surat-based company also said its wholly owned subsidiary StarBigBloc Building Material Ltd is planning to launch an SME IPO or a preferential issue to support its expansion plans.

“The board will meet on July 19 to consider and approve a bonus share issue to reward existing shareholders, enhance liquidity, and expand the shareholder base,” BigBloc Construction said in a statement.

The company reported a net profit of Rs 30.69 crore for the 2023-24 financial year. Revenue from operations rose 21.5 per cent to Rs 243.22 crore in FY24 compared to the previous year.

BigBloc Construction’s share capital stands at Rs 14.14 crore, while its reserves were at Rs 89.87 crore as of March 31, 2o24, the statement said.

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

The company is a leading manufacturer of aerated autoclaved concrete (AAC) blocks, bricks, and panels in India.

AAC blocks are used in construction in place of traditional bricks. It operates three AAC block plants — one each at Valsad and Kheda in Gujarat and at Wada in Maharashtra.

Its joint venture, SIAM Cement BigBloc Construction Technologies Pvt Ltd, recently commenced 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 BSE on Friday.