Quoted by The Economic Times
The board of BigBloc Construction, a business renowned for giving investors significant returns, will convene on July 19 to review and authorize the issuance of bonus shares.
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Furthermore, the Board intends to contemplate augmenting the authorized capital of the company’s shares.
The business intends to give its current shareholders bonus shares.
The objectives of this action are to increase stock liquidity, reward shareholders, and broaden the shareholder base.
With 7.07 crore equity shares with a face value of Rs 2, the total share capital as of right now is Rs 14.14 crore.
A proposal to raise this authorized share capital will be discussed by the Board.
With a five-year compound annual growth rate (CAGR) of 19% in revenue and over 80% in net profit, BigBloc Construction has demonstrated exceptional financial growth.
The business declared a combined net profit of Rs 30.69 crore for FY24.
Operations brought in Rs 243.22 crore, up 21% from FY23’s Rs 200.11 crore.
EBITDA increased by 12.29% to Rs 56.15 crore in FY24.
The company’s reserves, which total Rs 89.87 crore, would be used to pay the bonus shares.
Existing shareholders receive bonus shares at no extra expense.
