Bigbloc Construction Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Bigbloc Construction Ltd filed with BSE on 02 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
BigBloc Construction reported Q4 FY26 revenue of approximately Rs 87 crore, up around 35% year-over-year, with EBITDA of about Rs 6 crore and a net loss of roughly Rs 1 crore for the quarter. For the full year, revenue was around Rs 283 crore against Rs 225 crore in FY25, EBITDA margin was approximately 6.21%, and the company reported a net loss of about Rs 9 crore. Management attributed the margin decline to elevated raw material and fuel costs following the U.S.-Iran conflict, labor shortages around Holi, and slower-than-expected adoption of the newly introduced AAC wall panel product.
Numbers mentioned
Sales volume: 2,45,870 cubic meters (Q4 FY26)
p. 3
“I am pleased to share that our sales volume for Q4 FY26 increased significantly by 40% year-over-year to 2,45,870 cubic meters.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Sales volume: 8,26,904 cubic meters (FY26)
p. 3
“For the full year, sales volume increased by 37% year-over-year to 8,26,904 cubic meters, reflecting healthy demand momentum and increasing adoption of AAC products across the construction industry.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Average capacity utilization: 78% (Q4 FY26)
p. 3
“Average capacity utilization during the quarter improved to around 78%.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Revenue from operations: approximately INR 87 crores (Q4 FY26)
p. 4
“Revenue from operations stood at approximately INR 87 crores, registering a strong growth of around 35% year-over-year, primarily driven by healthy volume expansion.”
Mohit Saboo, page 4 of the filed PDF · View the filing
EBITDA: approximately INR 6 crores (Q4 FY26)
p. 4
“EBITDA for the quarter stood at approximately INR 6 crores, reflecting a growth of nearly 11% year-over-year, while EBITDA margin stood at 7.36%.”
Mohit Saboo, page 4 of the filed PDF · View the filing
Net loss: approximately INR 1 crore (Q4 FY26)
p. 4
“The company reported a net loss of approximately INR 1 crore during the quarter.”
Mohit Saboo, page 4 of the filed PDF · View the filing
Revenue from operations: approximately INR 283 crores (FY26)
p. 4
“For the full year, FY2026 revenue from operations stood at approximately INR 283 crores, against INR 225 crores in FY25, reflecting a healthy growth of around 26% year-over-year.”
Mohit Saboo, page 4 of the filed PDF · View the filing
EBITDA: around INR 18 crores (FY26)
p. 4
“EBITDA for the year stood at around INR 18 crores, with EBITDA margins at approximately 6.21%.”
Mohit Saboo, page 4 of the filed PDF · View the filing
Net loss: around INR 9 crores (FY26)
p. 4
“At the PAT level, the company reported a net loss of around INR 9 crores.”
Mohit Saboo, page 4 of the filed PDF · View the filing
Rooftop solar installed capacity: 3.3 MW
p. 3
“The company today has a total rooftop solar installed capacity of 3.3 MW across the company and its subsidiaries, reflecting its resolve to use more renewable energy, reinforcing our mission to integrate renewable energy solutions into our operations.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Renewable power share: 45% (Q4 FY26)
p. 3
“During the quarter, of the total power requirements for the company, about 45% came from renewable sources of energy.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Carbon credits accumulated: approximately 150,000 tons
p. 6
“So, we are approximately sitting on almost 150,000 tons of carbon credits as of now.”
Manish Saboo, page 6 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Capacity utilization — 10-14% increase · FY27
stated firmly by Mohit Saboo
p. 3
“We expect a healthy 10-14% increase in capacity utilization during FY27.”
Mohit Saboo, page 3 of the filed PDF · View the filing
Volume growth — 10% to 20% · FY27
stated conditionally by Mohit Saboo
p. 5
“So, for FY27, we are targeting a volume growth in the range of almost 10% to 20% and our major concentration is on Western India for the AAC blocks and the construction chemical segment.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Capacity utilization — 80 to 85%
stated as an aspiration by Mohit Saboo
p. 5
“And our first and foremost priority is to reach most optimum capacity utilization to the tune of almost 80 to 85% upwards.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Realizations — next two to three quarters
stated conditionally by Mohit Saboo
p. 5
“And going forward, hopefully, we will be able to pass on the further increase in cost to the customer and thereby also improving our realizations in the next two to three quarters.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Peak revenue — 350 to 400 crores
stated conditionally by Mohit Saboo
p. 7
“And with a total installed capacity of around 1.3 million cubic meters per annum spread across blocks and panels, which is a fungible capacity, we can expect top-line peak revenues to the tune of almost 350 to 400 crores at the current realization values.”
Mohit Saboo, page 7 of the filed PDF · View the filing
Capacity utilization — 75% to 80% · this year
stated as an aspiration by Mohit Saboo
p. 7
“Hopefully, in this year, we will be reaching utilization levels of 75% to 80%.”
Mohit Saboo, page 7 of the filed PDF · View the filing
Profitability — this year
stated as an aspiration by Mohit Saboo
p. 8
“And going forward, once the improvement is seen in the panel business, the company overall will be able to show better profitability. And hopefully in this year, we should be returning to profits again.”
Mohit Saboo, page 8 of the filed PDF · View the filing
AAC block share of volume material market — 30%-40%
stated as an aspiration by Mohit Saboo
p. 8
“So, going forward, we see AAC demand to the AAC block share in the volume material market to the tune of 30%-40%, which is a position in the developed markets in countries like Turkey as well as Poland and China.”
Mohit Saboo, page 8 of the filed PDF · View the filing
AAC panels revenue contribution — 100 to 125 crores
stated conditionally by Mohit Saboo
p. 6
“So, in terms of the revenue contribution from the AAC panels business, if we reach full utilization to the tune of almost 80 to 85% from the AAC panels business, we can see revenue contribution to the tune of almost 100 to 125 crores.”
Mohit Saboo, page 6 of the filed PDF · View the filing
Construction chemicals revenue contribution — 20 to 30 crores
stated conditionally by Mohit Saboo
p. 6
“And from the construction chemicals business at the current newly installed plant, we can see contribution to the tune of almost 20 to 30 crores.”
Mohit Saboo, page 6 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed about 5-6% of the decline to pricing pressure and about 2% to increased operating and manufacturing costs.
Answered by Mohit Saboo
Asked by Harsh Jain: How much of the EBITDA margin decline from FY25 to FY26 was due to pricing pressure versus higher operating costs?
p. 4
“So, approximately around 5% to 6% decline is because of pricing pressure and about 2% is due to increased operating costs, increased manufacturing costs or operating costs.”
Mohit Saboo, page 4 of the filed PDF · View the filing
Management said raw material costs rose due to the war and there was a severe regional labor shortage post-Holi that slowed volumes.
Answered by Mohit Saboo
Asked by Harsh Jain: What is driving the current cost pressure - industry-wide competition or company-specific issues?
p. 5
“So, in terms of the pricing competition, the pricing, I mean, the raw material costing has gone up over the last two to three quarters since the advent of the U.S. and Iran war and the costs have escalated by approximately anywhere between 5% to 15%.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Management said the company holds roughly 150,000 tons of carbon credits priced at $2-3, pending issuance.
Answered by Manish Saboo
Asked by Sakshi Surbe: How many carbon credits has BigBloc accumulated and what is the pricing trend?
p. 6
“And the current pricing should be anywhere between $2 and $3. But the issuance and all will take almost three months.”
Manish Saboo, page 6 of the filed PDF · View the filing
Management said panels and chemicals carry much higher margins than blocks.
Answered by Mohit Saboo
Asked by Danish Shahabuddin: What margin profile do the newer AAC wall panel and construction chemicals businesses offer compared to the core AAC block business?
p. 6
“Coming down to the AAC panels business, the gross margins in the AAC panels business is almost to the tune of almost 50% to 60%, thereby resulting in EBITDA margins of almost 30% to 45%.”
Mohit Saboo, page 6 of the filed PDF · View the filing
Management estimated peak revenue potential of Rs 350-400 crore at current realizations from the installed fungible capacity.
Answered by Mohit Saboo
Asked by Manish Kela: What is the peak revenue potential from current capacity and when will utilization reach 85%?
p. 7
“So, generally, in this product, the optimum capacity utilization is accounted around 80 to 85%.”
Mohit Saboo, page 7 of the filed PDF · View the filing
Management said margins started dropping from Q3 FY25 but have improved over the last two quarters and should improve further with capacity utilization gains.
Answered by Mohit Saboo
Asked by Manish Kela: What operating margins can the company attain this year given the drop from 13% to 6%?
p. 8
“So, looking at those numbers, we see that hopefully in the next couple of quarters, we should be able to further improve our margins, which will be supported by improving capacity utilization as well.”
Mohit Saboo, page 8 of the filed PDF · View the filing
Management said proper coping and jointing mortar application prevents cracking and the company has not faced such issues.
Answered by Mohit Saboo
Asked by Deepak Pruthy: Has the historical issue of AAC blocks cracking under load been resolved?
p. 10
“And if that is done properly and the application of AAC blocks is done properly using block jointing mortar, then there are no crack issues.”
Mohit Saboo, page 10 of the filed PDF · View the filing
Management said demand improved 15-20% versus Q1 FY26, though slower than Q4 FY26.
Answered by Mohit Saboo
Asked by Deepak Pruthy: How has demand looked in the current April-June quarter?
p. 13
“So the current quarter, we have been able to, I think so far, the demand improvement is almost 15 to 20% as compared to Q1 of FY26.”
Mohit Saboo, page 13 of the filed PDF · View the filing
Risks flagged
Elevated raw material and fuel costs following the U.S.-Iran war situation
p. 5
“So, in terms of the pricing competition, the pricing, I mean, the raw material costing has gone up over the last two to three quarters since the advent of the U.S. and Iran war and the costs have escalated by approximately anywhere between 5% to 15%.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Labor shortages around Holi affecting manufacturing and construction sites
p. 5
“So, because of that, there has been a little bit of a slowdown in the last quarter and which has affected the volume.”
Mohit Saboo, page 5 of the filed PDF · View the filing
Slower adoption of the newly introduced AAC wall panel product limiting ability to pass on cost increases
p. 3
“relatively slower adoption of AAC wall panels, which is a new product introduced by us, which limited our ability to immediately pass on cost increases to customers.”
Mohit Saboo, page 3 of the filed PDF · View the filing
LPG shortages affecting labor availability across the industry
p. 12
“And third, I think ground level, there was LPG shortages across, you know, not just our industry, but across.”
Manish Saboo, page 12 of the filed PDF · View the filing
Competitive AAC block industry with approximately 150 manufacturers nationally
p. 8
“So, AAC block is a well-competitive industry today, and there would be approximately 150 different AAC block manufacturers across the country today.”
Mohit Saboo, page 8 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.