The Company has two business operations
Plastic - Water Tanks, Doors, Windows, Prefab, Sections, BT Shelters, Auto components, Custom Moulding (Composite Plastics and retail products) Indian operations being managed by Sintex-BAPL Ltd. The custom moulding is further segregated into global operations through its subsidiaries Sintex NP SAS (Europe) and Sintex Wausaukee Composites Inc (US).
Infrastructure - Affordable Housing and EPC Contract. Prefabricated units & EPC contracts for various infrastructure projects across the country (under its subsidiary Sintex Prefab and Infra Ltd.).
Product Range and Application
Water Storage Solutions
The company leveraged its expertise in the liquid storage solutions in septic tanks, packaged treatment solutions and biogas holders to create these products which are becoming increasingly relevant considering the rapid rates of urbanisation across India.
Electrical and SMC products
Infrastructure & EPC contracts
- It has developed the decentralised packaged wastewater treatment solution in collaboration with Aqua Nishihara, Japan – global leaders in this space.
- Company has received MES approval from ENC office for MBBR technology. This approval is expected to be an inflection point for this revenue vertical as the MBBR technology is widely accepted all over the country. This approval will allow the company to participate in large government projects initiated by MES, CPWD, Railway, ONGC, Police Housing, Housing Boards and other Government and private sector institutions.
- Company has developed high-strength non-reactant FRP tanks for storing corrosive chemicals and fuels in dispensing stations as a cost-effective and fail-safe alternative to RCC and metal variants. The Group has received approvals from leading oil marketing companies namely IOC HPCL and BPCL for installation in new dispensing stations pan-India.
- Capability-enhancing alliances in the area of product design (HIVEC, Japan), interior and exterior design and engineering (Daeji Metal Corp, Korea), design and manufacture of air induction systems and DFT design and development (Kautex) has served Sintex-BAPL
Promoters have bought 60 lakh shares around Rs 75 - 85 from open market since its listing in August 2017. Recently company has allotted 6,67,00,000 preferential shares to the promoter at the price of Rs. 90/- per shares, aggregating upto Rs. 600.30 crores to pay the debt. It will increase the shareholding of promoters from 29.81% to 36.93%
'Sintex' is very strong brand name in Indian household and become synonymous for water storage tanks. Company offers one of the widest plastic-based solutions in the global plastic processing space from creating housing units to small components. SPTL is the only Indian plastic processing company with pan India presence and enjoys an early-mover advantage in the different businesses segments with huge growth potential.
We have received lot of comments in blog about Sintex Plastic since its listing around Rs 136 in August 2017. Stock price was under pressure from last 4-5 months due to conversion of FCCBs into 3.91 crores shares. Recent market correction has brought it into our buying range and given very good opportunity to buy the stock at deep discount, even promoter have bought the preferential issue @ Rs 90 which is almost 50% above cmp.