BIGBLOC Construction Ltd

- Order book started improving from mid to end of June 2025. - Better order inflows are being seen on a daily basis. - Typically, order books in this industry last for about 5 to 7 days. - During slowdowns, order books shorten to 2 to 3 days due to product bulkiness and limited construction site space. - The company expects order inflows and volume to increase further in the coming quarters, aiming to raise capacity utilization to over 70%.

- The company has already procured land at MP for expansion, with all necessary permissions completed. - Further updates on land acquisition in Southern India will be communicated once finalized. - No explicit mention of new fundraising via debt or equity at present. - Financing for expansion will be managed while maintaining a comfortable debt-equity ratio as the company's performance improves. - When suitable land opportunities arise in Southern India, details about financing (debt or equity) will be shared accordingly. - Currently, the company aims to keep its debt-equity ratio within a comfortable range (1:1 to 1.5) and plans to manage CapEx without significant changes in capital structure for now.

- Bigbloc Construction has procured land in Madhya Pradesh (MP) for expansion, with necessary government permissions completed; work at this site is expected to start soon. - The company is still looking for suitable land in Southern India for expansion; updates will be communicated once finalized. - For the expansion in Southern India, financing details are yet to be confirmed; once a suitable opportunity is identified, the company will communicate accordingly. - Construction chemicals manufacturing plant at Umargaon is nearing completion and will start commercial production shortly, introducing products like block jointing mortar, ready-mix plaster, and tile adhesive. - The company’s focus remains on product diversification and capacity utilization improvement to support growth.

- The company targets doubling revenues over the next 2-3 years, aiming to grow from approximately Rs. 225-230 crores to Rs. 450-500 crores in sales. - Expected revenue contribution breakdown in 2 years: 60% from AAC blocks, 15-20% each from AAC wall panels and construction chemicals. - Volumes increased 25.3% YoY in Q1 FY26; future volume growth is expected as capacity utilization improves post-monsoon. - Capacity utilization aims to reach 70-80% in the coming quarters, up from 53% in Q1 FY26. - Market penetration for AAC wall panels and construction chemicals is increasing steadily on a MoM basis. - The company anticipates improved profitability once capacity utilization reaches around 60-65%. - Growth depends on wider adoption of AAC products in existing and new markets and favorable real estate sector recovery.

- Bigbloc Construction aims to double revenues over the next 2 to 3 years, targeting INR 450-500 crores from around INR 225-250 crores currently. - The revenue mix is expected to shift with AAC blocks contributing ~60%, and AAC wall panels and construction chemicals each contributing 15-20%. - Margins for construction chemicals and AAC panels are stable; EBITDA margins for blocks are expected to improve, targeting 15-18% in the near term. - Capacity utilization is expected to rise from 53% (Q1 FY26) to 70-80% over the next few quarters, which should enhance profitability. - Profitability is anticipated to return by Q2 FY26 as construction activity picks up post-monsoon and capacity utilization improves. - The AAC wall panels segment has better margin potential than AAC blocks, supporting faster profitability growth. - Carbon credit revenues are expected once market conditions improve, but currently no income is realized from them.