Sintex Industries Limited
NSE Symbol SINTEX
SINTEX INDUSTRIES LIMITED HAS declared results for Q/e
Dec,2011.
Q3 FY 2012 BUSINESS HIGH
LIGHTS
Ø
Prefabricated
Building systems continues strong momentum
Ø
Overall
Growth moderation reflects slowdown in Monolithic business and custom molding,
resulting in lower margins.
Ø
Sintex
Infra projects a wholly owned subsidiary of Sintex Ind has been awarded EPC
order of Rs.13bln for 2*150MW from Shirpur Power Pvt Ltd
Financial Performance Overview
Q3 FY 12 vs Q3 FY 11
Ø Consolidated
Net Income from Operations at
Rs.11.58bln
Ø Earnings
before Intt, Deprn,Taxes and Amortsn(EBIDTA)
at Rs.1.79 bln
Ø Net
Profit After Tax (PAT) at Rs.822 million
Ø Basic
EPS : Rs.3.03
Ø Subsidiary Margins fell 3.3% during Q3 FY 12 driven by
lower Utilization and falling volumes
Ø Monolithic Margins are down 2%YoY due to slower
executions.
Ø On consolidated Basis – Net Sales is Rs.1158.37
cr in q.e Dec,11, against Rs.1153.57 Cr in q/e dec,2010.
Ø Net
profit is Rs.82.20 cr in q/e
Dec,2011 against 38.8 cr in q/e Dec,2010.
9M FY12 vs 9M FY11
Ø Consolidated
Net Income from Operations Higher by 14% to
Rs.34.21 bln compared to Rs.30.12 bln
Ø EBIDTA
up stood at Rs.5.97 bln
Ø Net
PAT stood at Rs.2.16
Ø Basic
EPS :Rs.7.95
Ø The Building Material segment had a lower revenue in
the Qtr by -14.02%YoY, Current order Book stands at Rs.30 bln.
Ø Custom Molding was up 13.19%YoY. It is facing lower
volumes in US and Europe now.
Ø Textile was almost flat at same level.
Ø Zillion Infra Projects
- has built up an impressive client Base, like BHEL, L&T. Sintex
Infra Projects has 30% stake in it.
Stand alone results Analysis
Net Sales in current Qtr
ending Dec,2011 is Rs.682.92 Cr – up by 9.6% from previous qtr ending Sep,2011
and up by 3.7% from corresponding Qtr ending Dec,2010.
Raw Materials
consumption stands at Rs.454.64 cr –
up by 23.44% from previous qtr and up by 4.17% from corresponding Qtr.
Employees Cost stands at Rs.25.43 – up by 8.48% from previous qtr and
up by 8.44% from corresponding Qtr.
Depreciation stands
at Rs.27.91 cr in current qtr – up by 0.46% from previous qtr and up by 25.64%
from corresponding Qtr.
Other Expenditure stands at Rs.76.52 Cr in current Qtr – down by -12.26%
from previous qtr and up by 43.4% from corresponding qtr.
Total Expenditure stands at Rs.590.41
Cr in current Qtr – up by 16.29% from previous qtr and Up by 7.73% from
corresponding Qtr.
Profit from Operations stands at Rs.93.29 cr in current qtr – down by -20.02 from previous qtr and down by -16.11% from corresponding qtr.
Other Income stands at Rs.16.65
cr – up by 75.79% from previous qtr and up by 11.34% from corresponding qtr.
Interest Expense stands at Rs.31.91 cr – down by -10.06% from previous
qtr and up by 42.58% from corresponding qtr.
Exceptional Items in current
qtr amount to Rs.(-)13.54 cr against Rs.59.61 cr in previous qtr, down by (-)122.7%.
Profit before tax stands at Rs.91.56 cr, Up by 195.14% from previous qtr;
and down (-)11.77% from corresponding QTR.
Tax expense stands at Rs.23.75 cr – up by 35.01% from Previous qtr;
and down by -9.28% from corresponding qtr.
Net Profit stands at Rs.67.82
cr – up by a huge 404.75% from previous qtr – and down by -12.61% from
corresponding Qtr.
Basic EPS stands at Rs.2.5 – compared to Rs.0.5 in previous Qtr
and Rs.2.86 in corresponding Qtr.
Current Market Price is Rs.71.40 while the 52
week high price is Rs.195 ; while the 52 week low price is Rs.54.6
RESULTS TABLE (STAND ALONE)
|
sintex
ind
|
31-Dec-11
|
30-Sep-11
|
%DIF1
|
31-Dec-10
|
%DIF2
|
|
Net Sales
|
68292.4
|
62313.42
|
9.6
|
65857.12
|
3.7
|
|
Other Oprting Income
|
77.44
|
120.46
|
-35.71
|
67.37
|
14.95
|
|
Increase in SIT/WIP
|
591.73
|
96.3
|
514.47
|
1256.2
|
-52.9
|
|
Raw Materials
|
45463.69
|
36830.92
|
23.44
|
43645.52
|
4.17
|
|
Employees Cost
|
2543.43
|
2344.58
|
8.48
|
2345.56
|
8.44
|
|
Depreciation
|
2790.61
|
2777.72
|
0.46
|
2221.1
|
25.64
|
|
Other Expenditure
|
7651.87
|
8720.78
|
-12.26
|
5336.02
|
43.4
|
|
Total Expenditure
|
59041.33
|
50770.3
|
16.29
|
54804.4
|
7.73
|
|
Profit from Operations
|
9328.51
|
11663.58
|
-20.02
|
11120.09
|
-16.11
|
|
Other Income
|
1664.75
|
947.03
|
75.79
|
1495.15
|
11.34
|
|
Interest
|
3190.55
|
3547.34
|
-10.06
|
2237.76
|
42.58
|
|
Exceptional Items
|
-1353.56
|
5960.89
|
-122.7
|
-
|
|
|
Profit before tax
|
9156.27
|
3102.38
|
195.14
|
10377.48
|
-11.77
|
|
Tax expense
|
2374.51
|
1758.79
|
35.01
|
2617.46
|
-9.28
|
|
Net Profit
|
6781.76
|
1343.59
|
404.75
|
7760.02
|
-12.61
|
|
Face Value (In Rs
|
1
|
1
|
0
|
1
|
0
|
|
Paid Up Equity
|
2710.68
|
2710.68
|
0
|
2709.91
|
0.03
|
|
Basic EPS
|
2.5
|
0.5
|
400
|
2.86
|
-12.59
|
|
Public holding (%)
|
65.04
|
65.04
|
0
|
65.41
|
-0.57
|
ANNOUNCEMENTS BY COMPANY
13-01-2012 a press release titled "9M FY 12 Net Sales at Rs.34.21
billion EBITDA at Rs.5.96 billion"
13-01-2012 consolidated Results for the quarter ended on 31-DEC-2011 as
follows: Net Sales of Rs. 115837.49 lacs for quarter ending on 31-DEC-2011
against Rs. 115357.47 lacs for the quarter ending on 30-SEP-2011. Net Profit /
(Loss) of Rs. 8220.47 lacs for the quarter ending on 31-DEC-2011 against Rs.
3879.64 lacs for the quarter ending on 30-SEP-2011.
13-01-2012 standalone Results for the quarter ended on 31-DEC-2011 as
follows: Net Sales of Rs. 68292.4 lacs for quarter ending on 31-DEC-2011
against Rs. 62313.42 lacs for the quarter ending on 30-SEP-2011. Net Profit /
(Loss) of Rs. 6781.76 lacs for the quarter ending on 31-DEC-2011 against Rs.
1343.59 lacs for the quarter ending on 30-SEP-2011.
10-10-2011 press release titled "Q2 FY12 Net Sales Jumps 25% at
Rs.11536 million; EBIDTA at Rs.2.11 billion".
10-10-2011 consolidated Results for the quarter ended on 30-SEP-2011 as
follows: Net Sales of Rs. 115357.47 lacs for quarter ending on 30-SEP-2011
against Rs. 110951.4 lacs for the quarter ending on 30-JUN-2011. Net Profit /
(Loss) of Rs. 3879.64 lacs for the quarter ending on 30-SEP-2011 against Rs.
9457.62 lacs for the quarter ending on 30-JUN-2011.
10-10-2011 standalone Results for the quarter ended on 30-SEP-2011 as
follows: Net Sales of Rs. 62313.42 lacs for quarter ending on 30-SEP-2011
against Rs. 55566.81 lacs for the quarter ending on 30-JUN-2011. Net Profit /
(Loss) of Rs. 1343.59 lacs for the quarter ending on 30-SEP-2011 against Rs.
6913.18 lacs for the quarter ending on 30-JUN-2011.
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