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Sintex Industries: Commodity Prices and weak Euro hurt topline - Views on News from Equitymaster
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  • Jan 13, 2016 - Sintex Industries: Commodity Prices and weak Euro hurt topline

Sintex Industries: Commodity Prices and weak Euro hurt topline
Jan 13, 2016

Sintex Industries has announced the third quarter results of financial year 2015-2016 (3QFY16). While the topline grew by 11.8% YoY, bottomline grew at a 11.1% YoY during the quarter.

Performance summary

  • Net sales increased 11.8% YoY during 3QFY16.
  • Operating profit margin stood at 16.8% during the quarter.
  • Net profit increased by 11.1% YoY on back of increase in operating profit, decline in finance cost partly offset by decline in other income and increase in tax outgo. Other Income declined by 32.8% YoY.
  • Net profit for 9MFY16 increased by 19.3% YoY.
  • During the quarter, Sintex subsidiary, BAPL (Bright AutoPlast Pvt. Ltd) entered into Joint Venture with with a leading European rotomolding player Rototech, Italy to manufacture, market and promote fuel tanks for automotive industry in India.

Consolidated Financial Snapshot

(Rs m) 3QFY15 3QFY16 Change 9MFY15 9MFY16 Change
Total income 18329 20497 11.8% 48581 54329 11.8%
Expenditure 15260 17059 11.8% 40560 45290 11.7%
Operating profit (EBITDA) 3069 3438 12.0% 8021 9038 12.7%
Operating profit margin (%) 16.7% 16.8%   16.5% 16.6%  
Other income 119 80 -32.8% 205 391 -47.5%
Interest 648 585 -9.8% 1974 1902 -3.7%
Depreciation 746 766 2.6% 1894 2235 18.0%
Profit before tax & exceptional items 1793 2168 20.9% 4358 5293 21.5%
Tax 118 370 213.1% 916 1298 41.8%
Net foreign exchange gain/loss -64 0 -100.0% -157 -57 -63.7%
Share of profit from associates 9 3 -68.3% 25 10 -59.2%
Profit after tax/(loss) 1620 1801 11.1% 3310 3948 19.3%
Net profit margin (%) 8.8% 8.8%   6.8% 7.3%  
No. of shares (m)         446.6  
Basic diluted earnings per share (Rs) ^         13.3  
P/E ratio (x) *         6.5  

* On trailing 12 month basis
^Based on latest number of shares outstanding

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