Sintex Inds
The stock yesterday breached the upper circuit at Rs.87.10 as the company posted Q2FY15 numbers which were much above expectations. The company, for the quarter ended 30th Sept 2014, posted a 47% (YoY) rise in consolidated net profit at Rs.107 crore and this was on the back of very good operational performance. Consolidated income was at Rs. 1681 crore, up 23% and EBITDA jumped up 36% at Rs.288 crore. Operating margin was at 17.1%, which was up by a healthy 160 bps. The market was expecting margin to come around 16% and this jump is what cheered up the stock price.
In terms of segment wise breakup, Plastics provide 81% to the topline and it showed a 20% (YoY) rise in revenue and EBIT margin was at 15.1%, up from 11.8%. Textiles did well, contributing around 10% to the topline. Its revenue rose 31% and EBIT margin jumped up by a huge 420 bps to 16.2%. On the other hand, infra segment despite a 39% rise in revenue, showed a major fall in its EBIT margin from 2.4% to 7.4%.
During the quarter, the company had forex loss of Rs.5.24 crore v/s loss of Rs.4 crore in Q1 and Rs.8.83 crore in previous Q2. Interest outgo remains pretty steep at Rs.114 crore for H1FY15.