Sintex Industries informed that its plant at Lunsapur in Gujarat suffered damages due to Cyclone Tauktae.
The company said that the damage is yet to be ascertained. The insurance coverage of the damage stands at 100%, excluding the loss of profit. The electricity had been restored at plant recently.
Sintex Industries added that the restoration work is in progress. Due to cyclone, the capacity utilization was affected. However, as of now, 50% of capacity utilization has been achieved.
On a consolidated basis, Sintex Industries reported a net loss of Rs 144.05 crore in Q4 FY21 as compared to a net loss of Rs 294.13 crore in Q4 FY21. Net sales surged 62.3% to Rs 721.62 crore in Q4 FY21 over Q4 FY20.
Sintex Industries is primarily engaged in the business of manufacture and sale of yarn and structured fabrics.
Shares of Sintex Industries gained 1.70% to end at Rs 4.79 on Friday.
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