Sintex Inds
The company surprised everyone with a much better than expected numbers. For Q4FY13, consolidated net income rose 38% (YoY) at Rs.1397 crore. EBIDTA was also healthy, up 37% at Rs.235 crore and net profit growth was much better, up 66% at Rs.151 crore and sequentially, it was up by a whopping 180%. This jump in the net profit was helped mainly by an other income of Rs.46 crore. More importantly, tax reversal of Rs.25 crore also helped boost the bottomline. But margins tell the tale, wherein consolidated operating profit margins dropped 210 bps at 13.5% (YoY).
For FY13, the company posted a 14% rise at net sales at Rs.5079 crore and net profit was at Rs.324 crore, up over 5%. The company during the quarter, redeemed US$ 291 million FCCBs on due date. Its prefabricated building systems and custom molding business showed good growth and monolithic segment, which was the main trouble maker, was streamlined. In FY13, the monolithic business had showed a 8% decline in topline. Textile was stagnant, with a mere 1% growth. Its interest outgo continues to remain substantial, wherein for FY13 it stood at Rs.146 crore. Consolidate debt at as 31st March 2013 stood at Rs.3054 crore.