Q3 2024 Bigbloc Construction Ltd Earnings Call Transcript
Key Points
- Bigbloc Construction Ltd (BOM:540061) achieved its highest ever quarterly sales, EBITDA, and PAT in Q3 FY24.
- The company reported a 24% year-on-year growth in operating revenues for the quarter, reaching INR62 crores.
- EBITDA grew by 22% year-on-year to INR16 crores, with EBITDA margins at 26.34%.
- The Wada plant's utilization improved to approximately 90%, exceeding expectations.
- The company has initiated expansion plans to double the capacity at the Wada plant from 250,000 m3 to 500,000 m3.
- Profit after tax (PAT) for the nine months declined by 11% year-on-year, with PAT margins at 12.55%.
- The Umargaon plant's capacity utilization was around 60% for the quarter, indicating room for improvement.
- The company faces challenges from new construction technologies like Mivan, which could impact the AAC industry.
- The adoption of AAC blocks is growing but not at a 'humongous pace,' indicating potential market resistance.
- Running the AAC block industry is complex, with high rejection rates and variable raw material quality posing operational challenges.
Ladies and gentlemen, good day and welcome to the Bigbloc Construction Limited Q3 FY24 earnings conference call hosted by PhillipCapital India Private Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as of the date of this call.
These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Vikram Vilas Suryavanshi from PhillipCapital India Private Limited. Thank you and over to you, sir.
Good afternoon and warm welcome to everyone. Thank you for being on the call of Bigbloc Construction Limited. We are happy to have management with us here today for question-and-answer session with investment community. Management is represented by Mr. Mohit Saboo, Chief Financial Officer and Mr. Manish Saboo,
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