Earnings Presentation in respect of Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026.
BIGBLOC · price
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Bigbloc Construction reported FY26 revenue of INR 2,834 Mn (up 26% YoY), driven by ~37% volume growth to 8.27 lakh CBM. However, EBITDA collapsed to INR 176 Mn (down 40%) with margin at 6.21% vs 13% in FY25 — a dramatic deterioration from 25% margins just three years ago. Operating expenses surged 36% (outpacing revenue growth of 26%), compressing profitability. FY26 PAT turned to a loss of INR 85 Mn vs profit of INR 32 Mn in FY25. Q4 saw revenue of INR 869 Mn (up 35% YoY) but EBITDA margin at 7.36% vs 8.82% a year ago, still under pressure. Management cited elevated input costs, labour shortages, and inability to pass on cost increases as key headwinds.
The stock has underperformed significantly — down ~50% over the past year. Despite strong volume growth, the collapse in margins and swing to net loss raises concerns about the company's pricing power and cost control. The 1.4x Net Debt-to-Equity also signals rising financial leverage amid weak profitability.