Sintex Industries, an entity with leadership positions in the plastic and textiles business segments announced its financial results for the quarter ended September 2007.
Commenting on the Company's financial performance for Q2, FY08 Mr. Amit Patel, Managing Director, Sintex Industries, said: “We have maintained strong growth momentum driven by robust growth in plastics business. Consolidated Sales have risen by 47 % and Net profit by 46% for the quarter under review."
"Our Prefab structures enjoy high demand in schools, sanitation facilities. While BT shelters growth is being driven by telecom sector. In the textile segment, volume growth in collection segment have further enhanced our margins. Our exports to UK firm has garnered momentum during the current year and will contribute to our collection sales."
“FY08 has been a year of milestones for Sintex. In the last six months Sintex has established its footprints in the US markets with the acquisition of Wasaukee Composites and the acquisition of Bright Brothers will fuel Sintex's positioning in the domestic automotive plastics segment."
"Looking forward synergic benefits and new initiatives will further consolidate the company's leadership in custom molding segment. Our expansion plans are on schedule, with a blend of organic and inorganic growth strategy the future is very promising."