Any current/future new fundraising through debt or equity?

The company is taking up some more debt for upcoming balance sheet needs to support expansions. Debt-equity ratio is expected to be maintained between 1 to 1.5, which will support ongoing and upcoming expansions. For the Wada plant CAPEX (approx. INR 18-20 crores), around INR 12-15 crores will come from debt, with the rest from internal accruals. The JV Company has a total CAPEX of approx. INR 65 crores, of which around 65% (approx. INR 42 crores) will be financed through bank debt. Bigbloc's 52% share in JV's debt is approx. INR 12-15 crores. The company is also exploring opportunities to set

Any current/future capex/capital investment/strategic investment?

Wada plant Phase II expansion: Additional capacity of 250,000 cubic meters planned, expected CAPEX INR 18-20 crores; will start after eligibility certificate, targeting 65%-70% utilization by September 2023 and 75%-80% overall by year-end. Joint Venture (SIAM Cement Bigbloc Construction Technologies Private Limited): Setting up a greenfield unit with 250,000 cubic meters capacity, total CAPEX around INR 65 crores, ~65% debt-funded; commercial production expected by end of Q4 FY ’24. Further expansion plans: Exploring new plants in North and South India to become a Pan India player. Debt str

Future growth expectations in sales/revenue/volumes?

Targeting approximately 30% top-line growth year-on-year, with quarter-on-quarter increases expected. Capacity utilization was around 65% last quarter and anticipated to rise by 5-10% quarter-over-quarter. By end of the current year, overall capacity utilization expected to reach approximately 75-80%. Sales volume projected at around 7.5 to 8 lakh cubic meters from next year onwards based on capacity of 1 million cubic meters. Commercial production at JV plant to start by end of Q4 FY 2024, with revenues from Q1 FY 2025. JV plant capacity adds approximately 2.5 lakh cubic meters, and

Future growth expectations in earnings/operating earnings/profits/EPS?

Company targets approximately 30% top-line revenue growth for FY 2024, showing quarter-on-quarter improvement. EBITDA margins are expected to be maintained in the range of 20% to 25%, consistent with recent quarters. Net profit margin (NPM) is less emphasized due to ongoing CAPEX; focus remains on stable EBITDA margins. Capacity utilization expected to rise from current ~65% to 75%-80% by end of FY 2024, reaching 80%-85% by FY 2025. New JV company's commercial production to begin by Q4 FY 2024, contributing to revenues from Q1 FY 2025, initially at ~15%-20% utilization. Wada plant’s capacity u

BIGBLOC Const.Q1 FY24Cement & Cement Products

BIGBLOC Const. Q1 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹38.8P/E: 337.2Market Cap: ₹566 CrSector: Cement & Cement Products

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Targeting approximately 30% top-line growth year-on-year, with quarter-on-quarter increases expected.
Capacity utilization was around 65% last quarter and anticipated to rise by 5-10% quarter-over-quarter.
By end of the current year, overall capacity utilization expected to reach approximately 75-80%.
Sales volume projected at around 7.5 to 8 lakh cubic meters from next year onwards based on capacity of 1 million cubic meters.
Commercial production at JV plant to start by end of Q4 FY 2024, with revenues from Q1 FY 2025.
JV plant capacity adds approximately 2.5 lakh cubic meters, and capacity expansions could grow total capacity to 1.3 million cubic meters.
Market demand expected to remain stable despite normal monsoon effects; exceptional weather like cyclones can temporarily impact volumes.
New marketing regions include Nashik, Nandurbar, Madhya Pradesh, and Rajasthan to boost future sales.

Margin guidance

Category 3

Company targets approximately 30% top-line revenue growth for FY 2024, showing quarter-on-quarter improvement.
EBITDA margins are expected to be maintained in the range of 20% to 25%, consistent with recent quarters.
Net profit margin (NPM) is less emphasized due to ongoing CAPEX; focus remains on stable EBITDA margins.
Capacity utilization expected to rise from current ~65% to 75%-80% by end of FY 2024, reaching 80%-85% by FY 2025.
New JV company's commercial production to begin by Q4 FY 2024, contributing to revenues from Q1 FY 2025, initially at ~15%-20% utilization.
Wada plant’s capacity utilization expected to increase gradually, contributing to growth.
Overall, sales volume expected to increase to around 7.5 to 8 lakh cubic meters from next year.
Expansion and subsidy benefits (MSME CAPEX subsidy) will aid profitability.
Future growth to be supported by entry into new territories (Nashik, Madhya Pradesh, Rajasthan) and new product lines (panels).

See what BIGBLOC Const. management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company is taking up some more debt for upcoming balance sheet needs to support expansions.
Debt-equity ratio is expected to be maintained between 1 to 1.5, which will support ongoing and upcoming expansions.
For the Wada plant CAPEX (approx. INR 18-20 crores), around INR 12-15 crores will come from debt, with the rest from internal accruals.
The JV Company has a total CAPEX of approx. INR 65 crores, of which around 65% (approx. INR 42 crores) will be financed through bank debt.
Bigbloc's 52% share in JV's debt is approx. INR 12-15 crores.
The company is also exploring opportunities to set up new plants in North and South India, which may require additional funding in the future.

Order book

The transcript provided from the Q1 FY24 earnings call of Bigbloc Construction Limited does not explicitly mention details about the current or expected order book or pending orders. However, from the available discussion: - The company has expanded its customer base by supplying new projects for Adani and Reliance Life Sciences. - There is active capacity expansion underway, including the Wada plant and a JV greenfield unit at Kapadvanj, indicating upcoming demand fulfillment. - Mention of ongoing marketing efforts in new regions such as Nashik, Nandurbar, Madhya Pradesh, and Rajasthan suggests efforts to secure more orders. - The company discusses robust demand and anticipates steady growth in sales volume and capacity utilization, pointing toward a healthy order pipeline. Specific figures or detailed order book status were not disclosed in the transcript.

See what BIGBLOC Const. management said on order book — free account, 30 seconds.

Capex plans

Yes

Wada plant Phase II expansion: Additional capacity of 250,000 cubic meters planned, expected CAPEX INR 18-20 crores; will start after eligibility certificate, targeting 65%-70% utilization by September 2023 and 75%-80% overall by year-end.
Joint Venture (SIAM Cement Bigbloc Construction Technologies Private Limited): Setting up a greenfield unit with 250,000 cubic meters capacity, total CAPEX around INR 65 crores, ~65% debt-funded; commercial production expected by end of Q4 FY ’24.
Further expansion plans: Exploring new plants in North and South India to become a Pan India player.
Debt strategy: Targeting debt-equity ratio between 1-1.5 to fund these expansions.
Subsidy: Wada plant qualifies for a CAPEX subsidy of ~60% spread over 10 years (~INR 3 crores per year).

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