Sintex Industries jumps after strong Q4 earnings

The result was announced during trading hours today, 7 May 2013.

Meanwhile, the BSE Sensex was up 215.31 points, or 1.09%, to 19,888.95.

On BSE, 51.46 lakh shares were traded in the counter as against an average daily volume of 5.23 lakh shares in the past one quarter.

The stock hit a high of Rs 58 and a low of Rs 51.75 so far during the day. The stock had hit a 52-week high of Rs 75.60 on 12 October 2012. The stock had hit a 52-week low of Rs 42 on 26 March 2013.

The stock had outperformed the market over the past one month till 6 May 2013, rising 10.78% compared with the Sensex's 6.63% rise. The scrip had, however, underperformed the market in past one quarter, sliding 17.16% as against Sensex's 0.17% rise.

The small-cap company has an equity capital of Rs 31.31 crore. Face value per share is Re 1.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 37% to Rs 234.60 crore in Q4 March 2013 over Q4 March 2012.

Adjusted profit after tax jumped 17.14% to Rs 414.10 crore on 14.48% growth in net income from operations to Rs 5079.40 crore in the year ended March 2013 over the year ended March 2012. EBITDA rose 7.91% to Rs 829 crore in the year ended March 2013 over the year ended March 2012.

Addition to fixed asset on a standalone basis was Rs 273 crore (excluding capitalisation of Rs 77 crore). Addition to fixed assets by subsidiaries was Rs 163.60 crore primarily due to the acquisitions in Germany and Poland.

Commenting on the company's financial performance for the year ended March 2013, Amit Patel, Managing Director, Sintex Industries, said, "FY13 was a very satisfying year. Despite economic adversities across the globe, we grew our topline by 15% and strengthened our balance sheet. This was achieved through a disciplined approach in streamlining business systems and processes to maximise eddiciencies and a continued focus on improving the business mix. Now, we are perfectly poised to accelerate profitable business growth going forward with a hawk eye on maintaining a lean balance sheet."

The board of Sintex Industries recommended a dividend Rs 0.70 per equity share for the year ended March 2013.

Sintex Industries is one of the leading providers of plastics and niche textile-related products in India. With global footprints spanning 9 countries, Sintex has a strong presence in the European, American, African, and Asian markets including countries like France, Germany and USA.

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