Small-cap stock engaged in manufacturing, sale, and marketing of building blocks and aerated autoclaved concrete blocks (AAC) jumped 6 percent in the day’s trade upon commencing operations of its new greenfield project which is expected to generate revenues of around Rs. 100 crore per annum.
With a market capitalization of Rs. 1,642 Crores, the shares of Bigbloc Construction Limited were trading at Rs. 232, up 5.62 percent from its previous day’s close price of Rs. 219.65.
SIAM Cement BigBloc Construction Technologies Pvt Ltd a subsidiary of BigBloc Construction Limited and a Joint Venture between BigBloc Construction Limited(51 percent) and Thailand’s SCG International India Pvt Limited(49 percent) has commenced production at the company’s 2.5 lakh cubic meter per annum Greenfield project in Kheda district near Ahmedabad, Gujarat.
The total investment for the project is estimated at Rs. 65 Crores and at full capacity, the plant is expected to generate revenues of around Rs. 100 crore per annum. The unit has the potential to generate 50,000-60,000 units of carbon credits per annum.
The JV will manufacture AAC Blocks and ALC panels at the facility and will market its products under the brand name ‘ZMARTBUILD WALL by Nxtbloc and the Kheda Kapadvanj project can be expanded to 5 lakhs CBM per annum in the second phase with approval from both joint venture parties.
The joint venture also aims to share techno-commercial knowledge, promote mutual growth & cooperation in the construction industry, and bring new-age building materials to Indian markets.
Bibloc Construction Limited is engaged in the business of manufacturing, sale, and marketing of building blocks and aerated autoclaved concrete blocks (AAC) under the brand names NXTBLOC, NXTFIX, NXTPLAST, and many more.
Its revenue from operations grew by 24.19 percent from Rs. 49.54 Crores in Q3FY23 to Rs. 61.49 Crores in Q3FY24, accompanied by profits of Rs. 7.68 Crores to Rs. 8.62 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
