A small-cap company’s share price increased by 8.8 percent on Thursday to reach a 52-week high of Rs 195.55 per share, up from its previous close of Rs 179.60, following the company’s announcement of the upcoming board meeting.
Bigbloc Construction Ltd. stated in its filing that a board meeting will be held on January 25, 2024, to discuss and approve the third-quarter results and the second interim dividend on equity shares for the fiscal year 2024.
According to the company’s financials, net revenue rose by 21 percent year on year, from Rs 48.48 crore in Q2FY23 to Rs 58.90 crore in Q2FY24. Their revenue rose by 7 percent sequentially from Rs 54.87 crore in Q1FY24 to the current levels.
In addition, the company’s net profit decreased by 11 percent year on year, from Rs 8.47 crores in Q2FY23 to Rs 7.52 crores in Q2FY24. Their profit increased by 27 percent on a quarterly basis from Rs 5.9 crore in Q1FY24 to the current levels.
Bigbloc Construction Ltd’s share price of the company rose by 26 percent in the last six months and 42 percent last year. 72.27 percent of the company is owned by the general public, 27.72 percent is owned by domestic institutional investors, and 0.01 percent is owned by the promoter.
The market capitalization of the small-cap stock is Rs 1,300 crore. In comparison to its peers, the company exhibits a low price-to-earnings ratio of 47. Its net profit margin is 15 percent, return on equity is 49 percent, and return on capital employed is 35 percent.
Bigbloc Construction Limited is an Indian company that produces building blocks and aerated autoclaved concrete (AAC) bricks. The NXTBLOC brand is used to market the Company’s AAC blocks.
Written by Sriram KV
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