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Ahmedabad, July 11 Sintex Industries Ltd, a leader in plastic and textile business segments, has announced that its consolidated sales for the first quarter of 2007-08 amounted to Rs 343.5 crore, a 48 per cent increase over the corresponding previous quarter and profit after tax improved by 54 per cent to Rs 32.96 crore in the quarter under review.

Announcing the results for the quarter of the current fiscal, ended June 30, 2007, Sintex Industries’ Managing Director, Mr Amit Patel, said here that profit before tax rose 54 per cent to Rs 44.75 crore (Rs 29.05 crore) whereas basic earnings per share stood at Rs.2.97 on a capital base of Rs 22.18 crore and diluted EPS at Rs 2.92.

The first quarter FY2008 numbers include financial performance of Zeppelin Mobile Systems India Ltd as well as Wausaukee Composites Inc, USA, while Q1 FY2007 included financial performance of Zeppelin. The company acquired Wausaukee on June 1, 2007. The financial results for the first quarter include one month of Wausaukee revenues at Rs 9.3 crore.

During the quarter, the plastics business delivered a 44 per cent revenue growth to stand at Rs 228.89 crore comprising 73 per cent of the company’s total revenues. Pre-fab structures grew by 80 per cent over the previous corresponding quarter. Capacity utilisation levels at the plants at Baddi and Salem are now operating at around 55 per cent whereas the one at Nagpur has commenced production.

In the textiles business, segmental revenues improved 15 per cent to Rs 75.29 crore in the first quarter of FY2008, while PBIT increased 51 per cent to Rs 12 crore. With the capacity expansion plan progressing, the company expected to have in place 24 million metres of weaving capacity and 26 million metres of processing capacity in the current financial year.

More Stories on : Diversified | Plastics | Textiles

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Sintex Ind net rises 54% in first quarter

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