PAT rise 41 percent in 2009

Sintex Industries, a leading player in the plastic and textiles business segments, has posted Rs.114 crore in the quarter ended 31 March, 2009. During the period, the company has registered a rise in profit by 21 per cent from Rs. 94.6 crore for the same quarter last year. Total Income has decreased from Rs 959.8 crore for the quarter ended March 31, 2008 to Rs 866.1 crore for the quarter ended March 31, 2009.

The company has seen its consolidated revenues higher by 36 per cent for FY09 (April-March 2009) at Rs. 31,35 crore as compared to 22,97 crore for FY08 (April-March 2008). Total Income has increased from Rs 1700.2 crore for the year ended March 31, 2008 to Rs 1978.1 crore for the year ended March 31, 2009.

Commenting on the company’s financial performance for Q2FY08, Amit Patel, managing director, Sintex Industries, said, "Its been an extremely challenging year with sharp swings in commodity prices and changing business environment.

However, we have been able to address these issues by strategically focusing on high growth segments with better margins and gradually shifting from products to service capabilities. Looking forward India centric business, building products continues to be strong growth driver for the future with healthy order books. In the custom molding segment, we are aligning to higher end of the value chain with better technologies and addressing opportunities in global outsourcing programs where our subsidiaries will play a key role."

Sintex Industries Limited is a dominant player in the plastic and textile business segments. The company manufactures a range of building materials and composites at its 16 plants across India.

Subsequent to several strategic acquisitions the company also possesses a global footprint that is spread across the continents of USA and Europe.

In the textile segment the company is focused on niche offerings, possessing specialization in men’s structured shirting in the very premium fashion category.

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