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Background
Sintex Industries Ltd (Sintex Industries), the flagship company of Sintex
group, was established in June 1931 as Bharat Vijay Mills Ltd and established
a composite textile mill in Kalol, Gujarat. In 1975, the company entered
into plastic manufacturing business and commenced its plastic moulded
polyethylene liquid storage tanks including water tanks manufacturing unit.
Subsequently in 1995 the company acquired its present name and commenced
manufacturing of SMC moulded products, pultruded products, resin transfer
moulded products and injection moulded products. In 2001, the company
commenced the prefabricated structures business and in 2005 the company
started monolithic business and expanded in prefabricated structures. During
2008, the company expanded its custom moulding business by acquiring
companies. Sintex Industries is engaged as manufacturer and supplier of plastics
and niche structured dyed yarn textiles related products.
DB Patel
Chairperson
Executive Speak
How the business decision making
has undergone change in the current
(uncertain) economic scenario
Despite persisting economic and
business challenges, the team delivered
an immensely satisfying performance
in FY13 as we focused our energies
on internal consolidation aligning our
business operations to the dynamic
business realities. Hence, even when
growth was not on the radar, we clocked
a topline and bottomline growth of 16%
and 17% respectively over FY12.
This business improvement vindicates
the strength and flexibility of our
business model. Our business growth in
FY13, was primarily due to the excellent
performance of the prefab business
segment. Robust product demand from
the education space, more particularly
the mid-day meal scheme accelerated
the growth of this segment. And, we
are only scratching the surface in this
space. The composites segment also
delivered improved numbers against
a challenging business environment in
India and Europe our key markets. And
with the external economic and business
environment turning favourable across
the globe and in India, I am optimistic
about the Companys growth going
ahead.
As the world establishes a stronger
footing on the economic resurgence
path, our company will effectively
dovetail its strategies to capitalize on
emerging opportunities for profitable
growth which will enable us to multiply
shareholder value over the coming
years.
Business Operations
Sintex Industries primarily operates via two business divisions namely plastics
and textiles.
1) Plastics division
Sintex offers a variety of plastic products including liquid/solid storage
solutions, home interior products, prefabricated and monolithic structures,
custom moulded products (consumer and industrial segments) and infrastructure
solutions. As on Mar 31, 2013 plastics business accounted for nearly 90% of
total revenue. The plastic division is further classified into building products and
custom moulding products.
a) Building products
The building products segment includes monolithic construction,
prefabricated structures (prefabs), interiors, water tanks, sub-ground structures,
septic tanks, packaged waste water treatment solutions and environmental
products.
Monolithic concrete constructions are used in low cost mass housing
solutions like slum rehabs, Janta housing and low income group houses.
Sintex Industries executed a township development project in Delhi by
constructing 600 buildings under monolithic constructions.
Prefabricated structures like school, toilet, primary health center,
agrisheds, telecom, shelters, etc. have been introduced by the company.
The company introduced prefabricated bunk houses in the country in
2005. The Companys endeavour to popularise prefab solutions through
its unique do-it-youself kits being marketed through its channel partners
also resulted in sizeable business in year 2013.
Interior products are manufactured by the company to replace traditional
timber, aluminium and steel. In FY12 the company launched and marketed
plastic kitchen cabinets, manufactured D-I-Y (do it yourself) products and
bundled doors and windows.
Water storage tanks has been pioneered by Sintex in year 1980. The
company formed two different product brands Sintex and Reno cater to
high-end and low-end markets.
Sub-ground structures: The company provides water pollution management
solutions through its sub-ground structures comprising septic tanks and
packaged waste water treatment solutions.
Environment products include solid waste management products such as
storage bins. The company also has biogas plants in India.
b) Custom moulding division
The company has two important segments in this division, products which
are customised to certain applications and products which are customised to
260
Advertorial
Net Profit
Net Worth
239
193
164
Total Income
Net Profit
2,297.0
Networth
23,324.2
5,320.3
EBIDTA
BV per share (`)
85.44
8.48
20.27
8.75
NPM
10.20
RONW
Dividend Payout
7.72
3.93
Management Details
Chairperson
DB Patel
Vice Chairman
AP Patel
Managing Director
RA Patel
AD Patel
SB Dangayach
Address & Website
Kalol (N.G.) - 382721
Gandhinagar
Gujarat
www.sintex.in
261