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We took a hit of Rs 140 crore because of restructuring, says Sintex Plastics

Updated : May 10, 2018 05:53 PM IST

"We have taken almost Rs 140 crore of hit because of restructuring. We paid demerger cost of almost Rs 45 crore in Q2," said Samir Joshipura, Group CEO, Sintex Plastics Technology.

Sintex Plastics Technology reported a weak set of Q4 results and margins saw a significant drop.

“The custom moulding grew by 10% on year-on-year basis and prefab has degrown by Rs 300 crore over Rs 2,000 crore, so almost 15%,” he added.

He further said that custom moulding segment should grow at 15-18% in FY19 and prefab business may do a quarterly run rate of Rs 200-250 crore.

"We expect earnings before interest, taxes, depreciation, and amortization (EBITDA) growth of 14-15% in FY19," said Joshipura.

He also said that delayed government projects in prefab business was stretching working capital of the company.
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