Sintex Plastics hits new low

Sintex Plastics, the plastic storage maker is down in the red today. The stock hit a new 52-week low at Rs.32.65; it has recovered from this low but remains at Rs.34 levels, down some 6%.

The market is very disappointed with the company’s performance for Q1FY19. The company posted a 12% (YoY) drop in revenue at rs.1325 crore and net profit showed a sharp 47% fall at Rs.37.50 crore.

The EBITDA was down 30% at Rs.163 crore while margins slipped from 15.4% to 12.3%.