06:57 Sep 17, 2014  

Sintex Industries Ltd

HSL Code: SININD   |   BSE Code: 502742  |   NSE Symbol: SINTEX  |   ISIN: INE429C01035
76.40
-2.60(-3.29%)
16 Sep 2014 | 15:52
Prev Close (Rs.)
79.00
Open (Rs.)
79.20
High (Rs.)
80.30
Low (Rs.)
75.85
Volume
6,92,322
Week Avg. Volume
8,29,028
52Wk High - Low Range
20.50
107.45
 
 
Sintex Industries Ltd is one of the leading providers of plastics and niche textile-related products in India. The company is organized into two business segments namely, textile and plastics. In the textile division, the company manufactures high-value, yarn-dyed structured fabrics, corduroy and items relating to home textiles. In the plastic division , the company manufactures the following: storage solutions for water, oil and fuel; prefabricated structures, monolithic structures, industrial custom moulded products, consumer custom moulded products and interiors products. The company is having eight manufacturing facilities located at Kalol, Kolkata, Daman, Bangalore, Nagpur, Baddi, Salem and Bhachau in India. The company is headquartered in Kalol in Gujarat with 13 branch offices across India. They are having a strong presence in the European, American, African, and Asian markets including countries like France, Germany and USA. Sintex Industries Ltd was incorporated in the year 1931 as The Bharat Vijay Mills Ltd. They established composite textile mill in Kalol, Gujarat with the objective manufacturing textile goods. In the year 1975, they established the plastic division and named it as Sinter Plast Containers Division. The products manufactured in Plastics division are large size containers of capacities ranging from 60 litres to 1000 litres and 5000 litres for chemical industry. In the year 1980, the company established Chemicals Division for the manufacture of organic intermediated such as chlorobenzenes nitrochlorobenzenes nitrotoluenes phenylene diamines anisidines nitroanilines and chloroanilines. Also, they acquired the land, buildings, plant and machinery and the use of the `GOPI` trade mark of The New Commercial Mills Co Ltd. In the same year, BVM Polyster and Chemicals Ltd became a subsidiary of the company. In the year 1981, they installed 6 new Lakshmi-Rieter ring frames and 2 diesel generating sets of 250 KVA each. In the year 1988, the company acquired Diamines & Chemicals from Cellulose Products of India. In the year 1990, they commenced manufacturing of SMC moulded products, pultruded products, resin transfer moulded products and injection moulded products. In the year 1993, the company implemented the fifth phase of expansion-cum-modernization scheme. They installed 39 nos airjet looms and 24 nos rapier looms along with other balancing equipments. In the year 1994, they established a joint venture company for marketing of fabric and plastics products in Dubai the name of Suitex Middle East LLC in Dubai. In the year 1995, the name of the company was changed from The Bharat Vijay Mills Ltd to Sintex Industries Ltd. The company installed NEPC MICON Wind turbines generators of 225 KW each totaling 1-125 MW at Patelka in Gujarat. In the year 1996, they installed 21 picanol air jet looms for the manufacture of high quality value cotton shirtings and high fashion corduroy fabrics. Also, the plastic division of the company developed insulated False Ceilings SMC products for electrical sector and various speciality molded articles such as Grain Storage Gins Garbage bins etc. In the year 1997, the plastic division introduced a new brand of tank under the brand name `Reno` to cover the price conscious customer range. Also, they forayed into pharmaceutical sector in the same year. During the year 1999-2000, they commissioned two captive power plants of 3.8 MW capacity each. Also, they installed plastic thermoforming with the capacity of 990 MT. During the year 2000-01, the textile division expanded the total weaving capacity from 35,000 meters per day to 60,000 meters per day. The plastic division entered in the new line of business of whole range of pre-fabricated structure using innovative technologies. They also created a new innovative product namely FRP LADDERS during the year. They also introduced Thermoforming to manufacture genuine and durable `Sintex` twin sheets pallets. During the year 2002-03, the company started their two new manufacturing units at Baddi and Nagpur. During the year 2003-04, the plastic division of the company entered into a technical collaboration with the leading manufacturer of underground FRP tanks meant for fuel, water and wastewater. Also, the textile division has entered into a marketing and technical tie-up with an Italian company, Canclini Tessile SpA, which is a renowned name in the superfine category in European markets. During 2004-2005, the company completed the projects to manufacture underground fuel tanks in March 2005 and commenced their commercial production in June 2005. The company designed an entirely new housing solution - Monolith Construction - to address mass and low cost needs. Also, they ventured into waste management solutions, an unstructured and unorganized business. During the year, the company expanded the textile division capacity from the 18 million meters to 24 million meters per annum. During 2005-2006, the company made a tie up with New Holland Tractors and General Electric, USA for the manufacture of Farm Equipment components and auto ancillary products. In December 2005, the Bhachau unit commenced their operations, enhancing the capacity of the unit to 76,106 MTPA. The textile division of the company commissioned their newly installed jacquard looms. Also, they added a coating division to impart a special fabric coating used in sportswear, military purposes, travel and industrial products. During the year 2006-07, the company installed a 7.5 MW natural gas-based turbo alternator with an effective exhaust waste heat recovery module with state-of-the art technology in an effort to achieve higher productivity and increased energy efficiency at the plant in Kalol. They expanded their market footprint despite a decline in export realizations as well as lower orders for yarn and dyed fabric. The company constructed nearly 1,500 low-income group houses for the Ahmedabad Urban Development Authority. They launched new range of products, namely underground water tanks and horizontal tanks meant for the transportation of water and other fluids. In May 2006, the company has acquired a controlling interest in Zeppelin Mobile Systems India Ltd by purchasing 74% stake in that company. In March 2007, the company launched their Spring-Summer 2008/09 Dobby and Jacquard collections across Europe, comprising over 3,000 designs in the men`s and women`s wear ranges. During the year 2007-08, the company achieved the Super Brand status for the first time, translating into visible brand equity and stakeholder confidence. They forayed into the domestic and international markets servicing reputed brands like Color Plus, ITC Wills, Ann Taylor, Marks and Spencer and Pantaloons, Louis Philippe, Van Heusen among others. Also, they ventured into the home furnishings segment and received a furnishing interiors order from Volvo buses in France. The company entered into an MoU with the government controlled Gujarat Urban Development Company for the construction of living quarters for the economically weaker section in Ahmedabad, Baroda, Rajkot and Surat. Their SMC meter boxes were accepted by reputed power utility companies like BHEL, Maharashtra State Electricity Dist Co Ltd, Northern Power Dist Co of AP Ltd, Rajasthan Vidyut Vitaran Nigam Ltd etc. The company introduced water tanks made of fibre reinforced plastic (FRP), widely accepted for superior and hygienic storage of water and petroleum products. In May 2007, the company incorporated a wholly owned subsidiary company in Netherland, namely Sintex Holdings B V, to act as a holding company for companies in Europe and the US. Also, they incorporated Sintex Holding USA, Inc in Delaware, the US, as a wholly owned subsidiary of Sintex Holdings B V. In June 2007, the company acquired 81% stake in Wausaukee Composites Inc, USA, for USD 20.5 million. In July 2007, the company incorporated Bright AutoPlast Private Ltd as a wholly owned subsidiary of the Sintex Holdings B V in India, to acquire the automotive business of Bright Brothers Ltd. In September 2007, the company incorporated Sintex France SAS, a wholly owned subsidiary of Sintex Holdings B V to acquire Nief Plastic S A. In October 2007, they acquired 100% stake in Nief Plastic Groupe for USD 34.77 million. In December 2007, Bright AutoPlast Pvt Ltd, a step-down subsidiary of the company acquired the automotive plastic division of Bright Brothers Ltd for Rs 148.90 crore. Also, Wausaukee Composites acquired 100% stake in Nero Plastic Inc for USD 4.7 million. In July 2008, the company acquired Digvijay Communication and Networks Pvt Ltd through their subsidiary, Zeppelin Mobile Systems India Ltd in the form of a slump sale deal amounting to Rs 54 crore. In August 2008, the company`s wholly owned subsidiary, Sintex Holdings B V, acquired 90% stake in Geiger Technik GmbH. The Delhi government approved the Sintex Monolithic Concrete Construction technology for its urban renewal programme, which is expected to be completed during the financial year 2008-09.
 
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