Sintex Industries Ltd

Key Stats

Day's Price Range
52-Week Price Range
1 Year Return75.28 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

Rank 425
Rank 424
Rank 287
Dividend Yield
Rank 185
Rank 1091
Price To Book Ratio
Debt To Asset
Rank 102

Company Information

Sintex Industries Ltd is one of the leading providers of plastics and niche textilerelated products in India. The company is organized into two business segments namely textile and plastics. In the textile division the company manufactures highvalue yarndyed structured fabrics corduroy and items relating to home textiles. In the plastic division the company manufactures the following: storage solutions for water oil and fuel prefabricated structures monolithic structures industrial custom moulded products consumer custom moulded products and interiors products.The company is having eight manufacturing facilities located at Kalol Kolkata Daman Bangalore Nagpur Baddi Salem and Bhachau in India. The company is headquartered in Kalol in Gujarat with 13 branch offices across India. They are having a strong presence in the European American African and Asian markets including countries like France Germany and USA.Sintex Industries Ltd was incorporated in the year 1931 as The Bharat Vijay Mills Ltd. They established composite textile mill in Kalol Gujarat with the objective manufacturing textile goods. In the year 1975 they established the plastic division and named it as Sinter Plast Containers Division. The products manufactured in Plastics division are large size containers of capacities ranging from 60 litres to 1000 litres and 5000 litres for chemical industry.In the year 1980 the company established Chemicals Division for the manufacture of organic intermediated such as chlorobenzenes nitrochlorobenzenes nitrotoluenes phenylene diamines anisidines nitroanilines and chloroanilines. Also they acquired the land buildings plant and machinery and the use of the GOPI trade mark of The New Commercial Mills Co Ltd. In the same year BVM Polyster and Chemicals Ltd became a subsidiary of the company. In the year 1981 they installed 6 new LakshmiRieter ring frames and 2 diesel generating sets of 250 KVA each.In the year 1988 the company acquired Diamines Chemicals from Cellulose Products of India. In the year 1990 they commenced manufacturing of SMC moulded products pultruded products resin transfer moulded products and injection moulded products. In the year 1993 the company implemented the fifth phase of expansioncummodernization scheme. They installed 39 nos airjet looms and 24 nos rapier looms along with other balancing equipments. In the year 1994 they established a joint venture company for marketing of fabric and plastics products in Dubai the name of Suitex Middle East LLC in Dubai. In the year 1995 the name of the company was changed from The Bharat Vijay Mills Ltd to Sintex Industries Ltd. The company installed NEPC MICON Wind turbines generators of 225 KW each totaling 1125 MW at Patelka in Gujarat. In the year 1996 they installed 21 picanol air jet looms for the manufacture of high quality value cotton shirtings and high fashion corduroy fabrics. Also the plastic division of the company developed insulated False Ceilings SMC products for electrical sector and various speciality molded articles such as Grain Storage Gins Garbage bins etc. In the year 1997 the plastic division introduced a new brand of tank under the brand name Reno to cover the price conscious customer range. Also they forayed into pharmaceutical sector in the same year. During the year 19992000 they commissioned two captive power plants of 3.8 MW capacity each. Also they installed plastic thermoforming with the capacity of 990 MT. During the year 200001 the textile division expanded the total weaving capacity from 35000 meters per day to 60000 meters per day. The plastic division entered in the new line of business of whole range of prefabricated structure using innovative technologies. They also created a new innovative product namely FRP LADDERS during the year. They also introduced Thermoforming to manufacture genuine and durable Sintex twin sheets pallets.During the year 200203 the company started their two new manufacturing units at Baddi and Nagpur. During the year 200304 the plastic division of the company entered into a technical collaboration with the leading manufacturer of underground FRP tanks meant for fuel water and wastewater. Also the textile division has entered into a marketing and technical tieup with an Italian company Canclini Tessile SpA which is a renowned name in the superfine category in European markets. During 20042005 the company completed the projects to manufacture underground fuel tanks in March 2005 and commenced their commercial production in June 2005. The company designed an entirely new housing solution Monolith Construction to address mass and low cost needs. Also they ventured into waste management solutions an unstructured and unorganized business. During the year the company expanded the textile division capacity from the 18 million meters to 24 million meters per annum. During 20052006 the company made a tie up with New Holland Tractors and General Electric USA for the manufacture of Farm Equipment components and auto ancillary products. In December 2005 the Bhachau unit commenced their operations enhancing the capacity of the unit to 76106 MTPA. The textile division of the company commissioned their newly installed jacquard looms. Also they added a coating division to impart a special fabric coating used in sportswear military purposes travel and industrial products.During the year 200607 the company installed a 7.5 MW natural gasbased turbo alternator with an effective exhaust waste heat recovery module with stateofthe art technology in an effort to achieve higher productivity and increased energy efficiency at the plant in Kalol. They expanded their market footprint despite a decline in export realizations as well as lower orders for yarn and dyed fabric. The company constructed nearly 1500 lowincome group houses for the Ahmedabad Urban Development Authority. They launched new range of products namely underground water tanks and horizontal tanks meant for the transportation of water and other fluids. In May 2006 the company has acquired a controlling interest in Zeppelin Mobile Systems India Ltd by purchasing 74 stake in that company. In March 2007 the company launched their SpringSummer 2008/09 Dobby and Jacquard collections across Europe comprising over 3000 designs in the mens and womens wear ranges. During the year 200708 the company achieved the Super Brand status for the first time translating into visible brand equity and stakeholder confidence. They forayed into the domestic and international markets servicing reputed brands like Color Plus ITC Wills Ann Taylor Marks and Spencer and Pantaloons Louis Philippe Van Heusen among others. Also they ventured into the home furnishings segment and received a furnishing interiors order from Volvo buses in France.The company entered into an MoU with the government controlled Gujarat Urban Development Company for the construction of living quarters for the economically weaker section in Ahmedabad Baroda Rajkot and Surat. Their SMC meter boxes were accepted by reputed power utility companies like BHEL Maharashtra State Electricity Dist Co Ltd Northern Power Dist Co of AP Ltd Rajasthan Vidyut Vitaran Nigam Ltd etc. The company introduced water tanks made of fibre reinforced plastic FRP widely accepted for superior and hygienic storage of water and petroleum products. In May 2007 the company incorporated a wholly owned subsidiary company in Netherland namely Sintex Holdings B V to act as a holding company for companies in Europe and the US. Also they incorporated Sintex Holding USA Inc in Delaware the US as a wholly owned subsidiary of Sintex Holdings B V. In June 2007 the company acquired 81 stake in Wausaukee Composites Inc USA for USD 20.5 million. In July 2007 the company incorporated Bright AutoPlast Private Ltd as a wholly owned subsidiary of the Sintex Holdings B V in India to acquire the automotive business of Bright Brothers Ltd.In September 2007 the company incorporated Sintex France SAS a wholly owned subsidiary of Sintex Holdings B V to acquire Nief Plastic S A. In October 2007 they acquired 100 stake in Nief Plastic Groupe for USD 34.77 million. In December 2007 Bright AutoPlast Pvt Ltd a stepdown subsidiary of the company acquired the automotive plastic division of Bright Brothers Ltd for Rs 148.90 crore. Also Wausaukee Composites acquired 100 stake in Nero Plastic Inc for USD 4.7 million.In July 2008 the company acquired Digvijay Communication and Networks Pvt Ltd through their subsidiary Zeppelin Mobile Systems India Ltd in the form of a slump sale deal amounting to Rs 54 crore. In August 2008 the companys wholly owned subsidiary Sintex Holdings B V acquired 90 stake in Geiger Technik GmbH.The Delhi government approved the Sintex Monolithic Concrete Construction technology for its urban renewal programme which is expected to be completed during the financial year 200809.
OrganisationSintex Industries Ltd