Addictive Learning Approves ₹55.48 Cr Fundraising via Convertible Warrants

1) Bigbloc Construction Limited

• Business Overview - BigBloc is one of India’s top AAC block manufacturers with a capacity of 10,75,000 m³ annually. Its NXTBLOC brand offers eco-friendly, energy-efficient building materials known for strength, insulation, and fire resistance, supporting sustainable construction.
• Recent Filings - The company approved the allotment of 7 Cr fully paid-up bonus shares at INR 2 each in a 1:1 ratio, raising the total share capital to 14 Cr shares amounting to INR 28 Cr. This boosts shareholding and liquidity without changing initial investment value, signaling management's confidence in future growth. While EPS may dilute due to the larger share base, retaining cash for growth is a positive indicator for long-term investors.
• Outlook -
  • With the ongoing capacity expansion plans, the company will catapult to become the largest AAC manufacturer in India by FY25.
  • Company is planning to develop new products to meet evolving customer preferences, enhancing portfolio and market competitiveness.
  • Expansion into New Geographical Markets with high sustainable material demand, existing distribution, and form strategic partnerships for market entry.
• 2Y Price Chart -

2) Addictive Learning Technology Limited

• Business Overview - Incorporated in September 2017, Addictive Learning Technology Limited is an educational technology platform that primarily caters to senior, mid-career professionals, and young professionals, providing upskilling and career services.
• Recent Filings - Company board approved raising of funds up to ₹55.48 Cr by issue and allotment up to 19 Lacs Warrants convertible into fully paid-up equity shares to Promoter and Non-Promoter, Public Category. This will lead to short-term EPS dilution. However, the fund infusion can potentially strengthen the balance sheet, improve liquidity, and support future earnings growth. It reflects promoter confidence and support from strategic investors in the public category, likely improving sentiment in the market.
• Outlook -
  • Company has scaled up its SkillArbitrage business to a significant level. The cost of sales and customer acquisition lower in this segment, and company anticipates faster growth moving forward.
  • Company expanded course sales into the North American markets, including the USA, Canada, and the UK. They anticipate this market becoming a significant revenue contributor as they scale their course offerings.
  • The company plans to launch similar job boards for Skill Arbitrage and Data is Good to generate qualified leads by identifying skill gaps, through an App which is under development.
• Price Chart Since Listing -

3) Harshdeep Hortico Limited

• Business Overview - Harshdeep Hortico Limited designs, manufactures, and supplies a wide range of indoor and outdoor pots and planters, along with garden accessories like hose pipes and water cans. The company offers over 500 product variants and has two manufacturing facilities in Bhiwandi and Pune, covering approximately 93,769 sq. ft. and 40,000 sq. ft., respectively. It operates through physical stores in key cities and has a growing online presence via platforms like Amazon and Flipkart. The company also exports to several countries, though 98% of its revenue comes from India, primarily Maharashtra.
• Recent Filings - Harshdeep Hortico Limited has secured two significant purchase orders: one from Mumbai International Airport Ltd. for supplying and installing planters near e-Gates at CSMIA, valued at ₹64.90 lakhs, and another from Mangaluru International Airport Ltd. for ₹21.71 lakhs. These orders highlight the company’s growing presence in high-traffic public infrastructure projects, enhancing its visibility and strengthening its revenue base in the institutional segment.
• Outlook -
  • The company is increasing its manufacturing capacity at the Pune plant, adding 12,000 sq. ft. of space to boost production efficiency and introduce new product lines like shade nets with an annual capacity of 210,000 kg, aimed at driving revenue growth.
  • Expansion of retail footprint with new showrooms in Hyderabad and Ahmedabad will help capture growing institutional demand, enhancing the company’s market penetration and sales volume.
  • The establishment of a warehousing facility in Bengaluru will optimize the company’s supply chain, reduce logistics costs, and support revenue scalability in Southern India.
• Price Chart since listing -

Past Coverages

Coverage Date	Company	LTP on Coverage Date	Current LTP	% change since coverage	Recent Filings
1/08/24	PNGS Gargi Fashion Jewellery Ltd.	₹841	₹910.3	8.2%	EXCELLENT RESULTS For Q1 FY24, sales surged 2.1x YoY to INR 13.7 Cr (INR 44 Cr under FOFO model), with profit before tax up 93% to INR 2.9 Cr.(01st August)
08/08/24	PG Electroplast Ltd.	₹423	₹624.0	47.5%	ORDER On August 5, 2024, the company allotted 6,56,000 equity shares to the ‘PG Electroplast Limited Employees Welfare Trust’ under the 2020 Employee Stock Options Scheme.(08th August)
13/08/24	Hi-Tech Pipes Ltd.	₹162	₹191.0	17.9%	GOOD TO EXCELLENT RESULTS For Q1 FY24, sales rose 35% YoY to INR 867 Cr, with net profit up 2.3x to INR 18 Cr. QoQ, sales increased 27%, and net profit jumped 64%. (13th August)
14/08/24	Bondada Engineering Ltd	₹3250	₹595	-14.7%	ORDER For Q1 FY24, sales surged 2.2x YoY, and net profit jumped 3.6x. QoQ, sales were flat, while net profit declined 26%. (14th August)
8/07/24	Dynamic Services & Security Ltd	₹276	₹287.9	4.3%	Share Repurchase Agreement The company has agreed to repurchase 49% of Nacof Nithin Sai Green Energy's shares from an existing shareholder.