Sintex Plastics drops after reverse turnaround in Q4

Sintex Plastics Technology lost 4.91% at Rs 51.35 at 09:32 IST on BSE after the company reported consolidated net loss of Rs 12.49 crore in Q4 March 2018 as compared to net profit to Rs 51.84 crore in Q3 December 2017.

The result was announced after market hours yesterday, 9 May 2018.

Meanwhile, the S&P BSE Sensex was up 115.01 points, or 0.33% at 35,434.36.

On the BSE, 4.01 lakh shares were traded on the counter so far as against the average daily volumes of 4.54 shares in the past two weeks. The stock had hit a high of Rs 51.85 and a low of Rs 50.15 so far during the day. The stock had hit a record high of Rs 136.50 on 8 August 2017 and a record low of Rs 49.90 on 3 May 2018.

The mid-cap company has equity capital of Rs 61.45 crore. Face value per share is Re 1.

Sintex Plastics Technology's total income fell 1.75% to Rs 1323.44 crore in Q4 March 2018 over Q3 December 2017.

Sintex Plastics Technology's unlisted subsidiary SBAPL has received capital commitment of Rs 1250 crore from KKR and affiliates. Proceeds to refinance existing debt and fund companys growth in the B2C business further capitalising Sintex brand for high value added product categories as well as high end auto and defense plastics products.

Sintex Plastics Technology is into custom moulding, retail & others and prefab and infra division.

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