Sintex Industries second quarter profit drops

13 Oct '09

2 min read

Sintex Industries, a market leader in the plastic and textiles business segments, today announced its unaudited financial results for the quarter ended 30th September, 2009.

Financial performance overview Q2FY10
July - September 2009) v/s. Q2FY09 (July - September 2008)
- Consolidated Net income from operations at Rs. 7112 million against Rs. 7198 million
- Earnings Before Interest Depreciation, Taxes and Amortisation (EBIDTA) at Rs.1305 million against Rs. 1341 million
- Net Profit After Tax (PAT) stood at Rs. 572 million against Rs. 838 million
- Basic and Diluted EPS stood at Rs 4.72

H1FY10 (April – September 2009) v/s. H1FY09 (April – September 2008)
- Consolidated Net sales at Rs. 13629 million compared to Rs. 14347 million
- EBIDTA at Rs. 2179 million compared to Rs 2264 million
- Net PAT at Rs. 1178 million compared to Rs 1403 million
- Basic and Diluted EPS stood at Rs 9.19

Commenting on the Company's financial performance for Q2FY10, Mr. Amit Patel, Managing Director, Sintex Industries, said: “The quarter under review has seen a better utilization in capacities, besides EBITDA margins have improved tremendously over Q1FY10.We are seeing a good volume growth across businesses. The building products business is showing a strong traction with better capacity utilization, similarly custom molding segment is also gradually showing signs of picking up which should be visible in the near future”.

”Sintex's unique first-of-its kind products like prefabricated building systems, monolithic construction and strong global presence in Composites ensures long term growth for the company. We are well entrenched to capitalize for future opportunities in each of our segments.”

Textile segment revenues stood at Rs. 762 million for Q2FY10. EBIT stood at Rs. 29 million for the Quarter ended September 30, 2009.

Sintex Industries Limited is a dominant player in the plastic and textile business segments. In the textile segment the Company is focused on niche offerings, possessing specialization in men's structured shirting in the very premium fashion category.

Sintex Industries Limited

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