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Sintex Industries Ltd (SIL) has reported an increase of 40 per cent in net profit in 2010-11 while its revenues rose 36 per cent compared to the previous fiscal.
While the revenues were Rs 4,475 crore (Rs 3,281 crore), the profit after tax (PAT) stood at Rs 460 crore (Rs 330 crore), according to a company statement here, announcing the annual results. On Friday, the share price of SIL on the BSE closed 1.03 per cent down at Rs 173.15.
The board of directors recommended a dividend of Rs 0.65 an equity share.
The Managing Director, Mr Amit Patel, said the company's monolithic sales crossed the Rs 1,200-crore mark, a five-fold jump since FY08. SIL has now emerged as the only company in the world with 12-13 processes in plastics under one roof but due to its diversification in building materials, custom moulding and textiles, it is no longer a plastic company alone.
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