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Q4 textile division sales soar 40% at Sintex
09 May '15
3 min read
For the fourth fiscal quarter ended March 31, 2015, revenue from the textile division at Sintex Industries Ltd soared 40 per cent year over year.
In a BSE filing, Sintex said sales at its textile division climbed 40 per cent to Rs 213.49 crore in the fourth quarter of fiscal 2015 as against Rs 152.98 crore in the corresponding quarter of fiscal 2014.
Profit before interest and tax or EBIT for the reporting quarter at the textile business totaled Rs 43.50 crore, up a massive 59 per cent from Rs 27.37 crore in the same quarter of previous fiscal.
Meanwhile on a standalone basis, total income of the company surged 25.47 per cent at Rs 1310.55 crore for the quarter under review as compared to Rs 1044.51 crore for the quarter ended March 31, 2014.
In the quarter gone by, operating profit climbed 14.3 per cent year on year to Rs 408 crore and margin expanded by 80 basis points to 18.8 per cent.
Other income in the quarter ended March 31, 2015 zoomed 5-fold from last fiscal’s fourth quarter to Rs 47.7 crore while other expenses mounted 25.8 per cent to Rs 241.7 crore.
While, finance cost fell 18.6 per cent from the fourth quarter of fiscal 2014 to Rs 86.1 crore, tax expenses jumped 5.4 times to Rs 94.7 crore in the quarter gone by.
The Kalol and Gujarat based plastics and textiles maker reported a year over year rise of 4.28 per cent in its net profit at Rs 172.09 crore for the fourth quarter of fiscal 2015.
For the fiscal ended March 31, 2015, on a standalone basis, total income at Sintex increased 23.04 per cent at Rs 4118.24 crore as compared to Rs 3346.98 crore for the fiscal ended March 31, 2014.
The company was able to post a rise of 36.55 per cent in its net profit to reach Rs 457.52 crore in fiscal 2015 as against Rs 335.06 crore in the previous fiscal.
On a consolidated basis, total income expanded by 19.54 per cent from the earlier fiscal at Rs 7103.01 crore, while net profit zoomed 45 per cent year on year to Rs 528.8 crore in fiscal 2015.
In a separate filing, Sintex Industries said that its board of directors has recommended a dividend Rs 0.70 per equity share for fiscal 2015.
Sintex is in the process of setting up the largest one location greenfield spinning plant, housing one million spindles in Pipavav also in Gujarat.
The plant which is being set up in three phases will have 320,000 spindles in the first phase, a similar number in the second phase and 360,000 in the last phase.
Sintex is investing around Rs 1,550-1,600 crore in the first phase, a similar amount in the second phase and around Rs 2,200-2,400 crore in the final phase for a total of Rs 5,600- Rs 5,800 crore. (AR)
In a BSE filing, Sintex said sales at its textile division climbed 40 per cent to Rs 213.49 crore in the fourth quarter of fiscal 2015 as against Rs 152.98 crore in the corresponding quarter of fiscal 2014.
Profit before interest and tax or EBIT for the reporting quarter at the textile business totaled Rs 43.50 crore, up a massive 59 per cent from Rs 27.37 crore in the same quarter of previous fiscal.
Meanwhile on a standalone basis, total income of the company surged 25.47 per cent at Rs 1310.55 crore for the quarter under review as compared to Rs 1044.51 crore for the quarter ended March 31, 2014.
In the quarter gone by, operating profit climbed 14.3 per cent year on year to Rs 408 crore and margin expanded by 80 basis points to 18.8 per cent.
Other income in the quarter ended March 31, 2015 zoomed 5-fold from last fiscal’s fourth quarter to Rs 47.7 crore while other expenses mounted 25.8 per cent to Rs 241.7 crore.
While, finance cost fell 18.6 per cent from the fourth quarter of fiscal 2014 to Rs 86.1 crore, tax expenses jumped 5.4 times to Rs 94.7 crore in the quarter gone by.
The Kalol and Gujarat based plastics and textiles maker reported a year over year rise of 4.28 per cent in its net profit at Rs 172.09 crore for the fourth quarter of fiscal 2015.
For the fiscal ended March 31, 2015, on a standalone basis, total income at Sintex increased 23.04 per cent at Rs 4118.24 crore as compared to Rs 3346.98 crore for the fiscal ended March 31, 2014.
The company was able to post a rise of 36.55 per cent in its net profit to reach Rs 457.52 crore in fiscal 2015 as against Rs 335.06 crore in the previous fiscal.
On a consolidated basis, total income expanded by 19.54 per cent from the earlier fiscal at Rs 7103.01 crore, while net profit zoomed 45 per cent year on year to Rs 528.8 crore in fiscal 2015.
In a separate filing, Sintex Industries said that its board of directors has recommended a dividend Rs 0.70 per equity share for fiscal 2015.
Sintex is in the process of setting up the largest one location greenfield spinning plant, housing one million spindles in Pipavav also in Gujarat.
The plant which is being set up in three phases will have 320,000 spindles in the first phase, a similar number in the second phase and 360,000 in the last phase.
Sintex is investing around Rs 1,550-1,600 crore in the first phase, a similar amount in the second phase and around Rs 2,200-2,400 crore in the final phase for a total of Rs 5,600- Rs 5,800 crore. (AR)
Fibre2fashion News Desk - India
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