Query Board
Sintex Industries manufactures plastic water tanks and corduroy fabrics. The company has presence in Europe, America, Africa and Asia. The company conducts business in building material solutions, textile solutions and custom building solutions. The also manufactures a range of plastic products including prefabricated structures, industrial custom moulding products, monolithic constructions and water storage tanks. As part of its textile business, it specialises in men’s shirting. On the financial front, the company reported an increase of 7.21 per cent in net sales to Rs661.42 crore for Q4FY19 as compared to net sales of Rs616.93 crore for Q4FY18. For Q4FY19 the company’s PBDT was negative at Rs61.70 crore and for Q4FY18 the company’s PBDT was positive at Rs101.48 crore. Also, in Q4FY19, the company incurred net loss of Rs85.63 crore as against a net profit of Rs52.82 crore posted in the same quarter of the previous fiscal. On the annual front, the net sales increased by 38.56 per cent to Rs2820.77 for FY19 crore from Rs2,035.76 crore for FY18. The PBDT of the company decreased by 14.35 to Rs268.83 crore for FY19 as compared to Rs313.88 crore for FY18. In FY19, the net profit decreased substantially by 85.88 per cent to Rs19.20 crore from Rs135.98 crore recorded in FY18. Hence, we recommend a SELL
Sintex Plastics Technology Ltd is an India-based company having business operations in custom moulding solutions and building product solutions which includes manufacturing of water storage tanks, structural solutions, electrical solutions, water management solutions, environmental solution, energy solutions, interior solutions, material handling, telecom solutions, and industrial solutions. The company’s well known products include Sintex triple-layered water tanks, Sintex black water tanks, Sintex loft water tanks, Reno water tanks, RenoTuf water tanks, Sintex underground water tanks (FRP), etc. -On the financial front, the company’s net sales for Q4FY19 stood at Rs16.38 crore, which is an increase of 353.74 per cent as compared to the net sales of Rs3.61 crore for Q4FY18. The PBDT for Q4FY19 was reported negative at Rs6.58 crore as against a positive PBDT of Rs0.62 crore reported for Q4FY18. The company incurred a net loss of Rs7.04 crore in Q4FY19 as against a net profit of Rs0.62 crore in Q4FY18. Looking at the annual trend, the net sales were reported at Rs16.38 crore for FY19, an increase of 19.65 per cent when compared to Rs13.69 crore for FY18. In FY19, its PBDT decreased by 98.44 per cent to Rs0.05 crore as against Rs3.20 crore for FY18. For FY19, the company incurred a net loss of Rs2.33 crore as against a net profit of Rs. 3.20 crore in FY18. Thus, we recommend a SELL.
State Bank of India is an Indian multinational, public sector banking and financial services company. Headquartered in Mumbai, Maharashtra, it is one of India’s largest bank having 23 per cent market share in assets and one-fourth market share of the total loan and deposit market. The company provides a range of products and services catering to the needs of individuals, commercial enterprises, large corporates, public bodies and institutional customers. Some of its service segments include investment portfolio and trading in foreign exchange contracts and derivative contracts, corporate accounts group, stressed assets management group, retail banking, personal banking, etc. Other non-banking activities include subsidiaries and joint ventures like SBI Life Insurance and SBI General Insurance. It has approximately 22,500 branches and 58,000 ATMs. On the financial front, the total interest income of the bank rose by 14.92 per cent YoY to Rs22,954 crore for the fourth quarter of FY19 as against Rs19,974 crore for the same quarter of the previous fiscal. Evaluating the asset quality, the GNPA ratio was 7.53 per cent in Q4 of FY19, down by 338 bps when compared to 10.91 per cent in Q4 of FY18. The net operating profit for Q4FY19 rose by 6.61 per cent YoY to Rs16,933 crore as against Rs15,883 crore in Q4 of the previous fiscal. The gross advances also remained strong with 11.96 per cent YoY growth at Rs22,93,454 crore in Q4FY19 as against Rs20,48,387 crore in the same quarter of the previous fiscal. The capital adequacy ratio for Q4FY19 was 12.72 per cent and 12.60 for Q4FY18. Considering the financials on the annual front, the total interest income rose by 18.03 per cent to Rs88,349 crore in FY19 from Rs74,854 crore in FY18. The net operating profit decreased by 6.85 per cent to Rs55,436 crore in FY19 as compared to Rs59,511 crore in FY18. We would recommend a HOLD to our investor-readers on the basis of strong financials of the company.
Infibeam Avenues Limited is a company engaged in providing software development services and maintenance, web development, e-commerce and other services. The company’s product selling areas include sale of software, sale of products and other e-commerce related services. BuildaBazaar is the company’s online selling platform which allows all merchants to get access to e-commerce. It has digital solutions, which include online storefront, mobile applications, digital catalogue, payment gateway, etc. Infibeam.com is another online selling solution of the company, including a multicategory e-commerce website having range of products such as mobiles, tablets, computers and its accessories, electronic appliances, fashion, books, etc. The company’s flagship electronic product is its e-book reader which is marketed under the name ‘Pi’, of which currently there are two successful versions. The e-commerce company is headquartered in Ahmedabad and has offices in Delhi, Mumbai and Bengaluru. On the financial front, for Q4 of FY19, the company reported net sales of Rs168.21 crore, an increase of 94.7 per cent as compared to Rs86.38 crore reported for Q4 of the previous fiscal. The PBDT was Rs56.73 crore and Rs13.92 crore for Q4FY19 and Q4FY18, respectively. In Q4 of FY19, the company incurred a net profit of Rs30.70 crore as against a net loss of Rs2.20 crore incurred in the same quarter of the previous fiscal. On the annual front, in FY19, the company reported net sales of Rs544.66 crore, which is 78.07 per cent more than the net sales of Rs305.86 crore reported in the previous fiscal. For FY19, the PBDT stood at Rs108.11 crore as against Rs83.09 crore for FY18. In FY19, the net profit increased by 188.72 per cent to Rs38.92 crore from Rs13.48 crore posted in the previous fiscal. Being a small-cap company, its market cap is Rs2,2928.88 crore. Thus, from the analysis of the financials of the company, we would recommend our investor-readers to EXIT.
Welspun India Ltd. is an Indian company conducting business operations in the textile sector. The company’s manufacturing products include home textile products such as terry towels, bath towels, bath robes of various varieties, bed linen, pillow covers, bed sheets and rugs, carpets and other home furnishing products. Its power manufacturing business includes power generation. Other than this, the company owns brands like Christy, Spaces and Welhome. The company exports more than 94 per cent of its textile products to more than 50 countries. On the financial front, for Q4 of FY19, the company reported net sales of Rs1,257.42 crore, an increase of 1.64 per cent as compared to Rs1,237.14 crore reported for Q4 of the previous fiscal. As for the PBDT, it was Rs2.97 crore and Rs220.20 crore for Q4 of FY19 and FY18, respectively. In Q4FY19, the company incurred a net loss of Rs43.70 crore as against a net profit of Rs72.78 crore posted in the same quarter of the previous financial year. On the annual front, the company posted net sales of Rs5,395.27 crore in FY19, which is 8 per cent more than the net sales of Rs4,995.87 crore reported in FY18. For FY19, its PBDT stood at Rs577.37 crore, a decline of 49.16 per cent when compared to Rs861.19 crore for FY18. In FY19, the net profit decreased by 53.4 per cent to Rs141.77 crore from Rs304.10 crore incurred in FY18. The Spaces business of Welspun India Limited made a domestic market contribution of 9 per cent of Welspun India’s sales figures for the financial year ended March 2019. Looking at the futuristic business expansion, the company has launched e-commerce business for textiles focused on the markets in United Kingdom and West Asia. It is also venturing into advanced textile products such as making disposable towels and wet wipes out of non-woven textiles. The company is exploring more opportunities in flooring material and home décor in domestic market. Hence, we recommend a HOLD to our investor-readers.
Kridhan Infra Limited is a company which operates as an engineering company providing pre-cut readymade steel bars which are used to join two rebars of the same mechanical splice and concrete piles, bored and cast-in place using dry and wet boring methods based on ground conditions enabling installation of larger diameter piles and permit construction through particularly stiff or hard soil. In India, the company also provides building solutions used for construction of residential houses and buildings and also supports with soil investigation and assessment for proposed construction. The company also conducts business operations in Singapore, Myanmar, Malaysia and other South East Asian countries. From the financial point of view, the net sales for Q3 of FY19 of the company were reported at Rs15.32 crore, a decrease of 30.14 per cent as compared to the net sales of Rs21.93 crore for Q3 of FY18. Its PBDT stood at Rs0.29 crore and Rs0.45 crore for Q3 of FY19 and FY18, respectively. In Q3FY19, the net profit was Rs0.12 crore, a decrease of 25 per cent when compared to the net profit of Rs 0.16 crore in the same quarter of the previous fiscal. Looking at the company’s annual financials, the net sales for FY18 were reported at Rs88.01 crore which is an increase of 21.58 per cent over the net sales of Rs72.39 crore for FY17. For FY18, the PBDT of the company stood at Rs2.13 crore, a decrease of 1.84 per cent from the PBDT for FY17 which stood at Rs2.17 crore. In FY18, the company’s net profit decreased by 14.58 per cent to Rs0.82 crore from the net profit of Rs0.96 crore posted in FY17. The company has been brought under the Additional Surveillance Measure (ASM) Long Term Framework by the Securities and Exchange Board of India (SEBI). Due to this, the recent financial information of the company has not been published. So, considering the above factors, we recommend an SELL.