Sintex Plastics Technology has reported their first set of earnings after the demerger from the parent company -- Sintex Industries. In an interview to CNBC-TV18, Samir Joshipura, Group CEO of the company spoke about the results and his outlook going ahead.
"The company should close the year, FY17, with a topline of around Rs 2,300 crore, up about 15 percent from last year’s Rs 2,000 crore", ukumar Srinivas, MD of Shankara Buildpro told CNBC-TV18.
Samir Joshipura, Group CEO, Sintex is very optimistic of the plastic business growing at 15-20 percent post the demerger.
Post demerger, Sintex Industries will predominantly carry the textile and spinning business, Samir Joshipura, Group CEO of Sintex told CNBC-TV18.
Sintex's Group Chief Executive Samir Joshipura told CNBC-TV18 that he expects the company's margins to expand at 25-30 basis points in FY17.
Samir Joshipura Group CEO, Sintex is confident of meeting the guidance of 20 percent topline growth in FY16 and margin growth between 50-100 basis points.
Sintex is all set to gain from government‘s new schemes; be it Swachh Bharat Misision or be it Housing for All, the coming years will see the company standing as a key beneficiary in the pre-fabrication space, S B Dangayach, MD, Sintex Industries told CNBC-TV18.
In an interview to CNBC-TV18, SB Dangayach, MD, Sintex Industries, discusses the company's earnings and its future outlook.
Watch the interview of Sunil Kanojia, Group CEO, Sintex Ind with Reema Tendulkar and Sumaira Abidi on CNBC-TV18, in which he spoke about companies quarterly earnings and future prospects.
Sintex Industries has achieved 25 percent revenue growth. Sunil Kanojia, group CEO of Sintex Industries spoke about company's fundamentals and future prospects.
In an interview to CNBC-TV18, Sunil Kanojia, Group President, Sintex Industries, said the company is seeing order opportunities from recently announced CSR schemes.
Sintex Industries has beat the Street estimates with second quarter consolidated net profit rising 46.8 percent on yearly basis to Rs 107 crore on strong sales and operational performance.
Sunil Kanojia, group president, Sintex Industries, says despite the weak textile demand globally, India and China have seen a good demand in spinning. Besides that, a number of parameters are in favour of this textile capex.
Sintex Industries hopes to post a better segmental performance going forward. It is positive on delivering a good performance in the monolithic segment too.
Sunil Kanojia, Group President, Sintex Industries, says the prefab segment continues to remain robust and will see 25 percent growth in FY14.
The company intends to reduce execution of orders in the monolithic business, but expects growth to come from pre-fabricated and custom moulding businesses.
Performance of domestic custom moulding business (which is 20 percent of total revenue) of Sintex would continue to show improvement on the back of orders from non-automotive sector
Sunil Kanojia, group president, Sintex Industries is aiming for a 100 basis points (bps) margin improvement in FY14. Kanojia‘s optimism comes on the back of an acquisition made by thee company in Germany.
Sintex has recently redeemed the Foreign Currency Convertible Bonds (FCCB) worth USD 292 million. This has been an overhang on the stock for sometime. Sunil Kanojia, Group President, Sintex told CNBC-TV18 that to redeem this, the company has taken both the equity and quasi debt routes.
Sintex industries, manufacturer of plastic pallets, water storage tanks, doors, windows and solar water heaters saw margin recovery across all key segments in the third quarter.
Sunil Kanojia, Group President, Sintex Industries, says that the company has applied to the RBI for redemption and as soon as we receive the redemption we will take a call to redeem it.
In an interview to CNBC-TV18 Amit Patel, managing director, Sintex Industries said that the company's net debt will reduce by Rs 300 crore after its qualified institutional plan (QIP).
In an interview with CNBC-TV18, Sunil Kanojia, Group President of Sintex Industries said though, the business environment for the monolithic business was not conducive this quarter, it is likely to improve in the second half of this fiscal.
In an interview to CNBC-TV18, Sunil Kanojia, group president of Sintex Industries says, the fourth quarter was negative in nature. He expects 16-16.50% margins ahead.
Sunil Kanojia, group president of Sintex Industries says the company will focus on conserving cash to meet FCCB redemption needs.