Post demerger, Sintex Industries will predominantly carry the textile and spinning business, Samir Joshipura, Group CEO of Sintex told CNBC-TV18.
Plastic products manufacturer Sintex Industries shares gained nearly 8 percent intraday Friday on board approval for demerger of custom moulding and prefab segments.
Consolidated total income surged 13.8 percent to Rs 1,365 crore in September quarter from Rs 1,199 crore in a year ago period, supported by strong growth in its prefabricated building systems, monolithic and custom moulding businesses.
The company intends to reduce execution of orders in the monolithic business, but expects growth to come from pre-fabricated and custom moulding businesses.
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.