Sintex Industries Ltd. News and Updates

Keep track of all breaking news on Sintex Industries Ltd. from all sources in a single place.

Sintex Industries Ltd.

23 Sep 2023

Sintex to set up Rs 350-crore manufacturing unit in Telangana

Business Line

The plant, to be located in Rangareddy district, will manufacture tanks, pipes, auto components, and ancillaries

Sintex Industries Ltd.

30 Mar 2023

Welspun acquires Sintex for Rs 1,251 crore

Business Line

Acquisition of the Sintex brand is expected to strengthen Welspun's consumer connect

Sintex Industries Ltd.

03 Mar 2023

NCLAT dismisses ex-Sintex Industries CMD Rahul Patel's plea on insolvency

Business Standard

The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea of Rahul Arunprasad Patel, former chairman and managing director of Sintex Industries, challenging the insolvency case initiated against the debt-ridden textiles maker. A two-member NCLAT bench upheld the earlier order passed by the Ahmedabad bench of the National Company Law Tribunal (NCLT), which had on April 6, 2021, directed to initiate a Corporate Insolvency Resolution Process (CIRP) against Sintex Industries over the plea filed by Invesco Asset Management (India). "We do not find any merit in the appeal to interfere with the order impugned passed by the adjudicating authority. The impugned order dated April 6, 2021, passed by the adjudicating authority is hereby affirmed. The instant appeal is hereby dismissed," said NCLAT. CIRP of Sintex Industries is almost near completion, where a joint bid by Reliance Industries Ltd and Assets Care and Reconstruction Enterprise has been voted with a 98.88 per cent .

Sintex Industries Ltd.

03 Feb 2023

Sintex Ind Standalone December 2022 Net Sales at Rs 698.54 crore, down 27.82% Y-o-Y

Moneycontrol

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Sintex Industries Ltd.

07 Nov 2022, 07:29PM

Sintex Industries Q2 net loss widens to Rs 278 crore, expenses surge 23%

Business Standard

Textiles maker Sintex Industries on Monday reported widening of consolidated net loss to Rs 277.93 crore for September quarter 2022-23. The company had incurred a net loss of Rs 181.92 crore during July-September period a year ago, Sintex Industries said in a regulatory filing. Revenue from operations was up at Rs 692.16 crore from Rs 614.87 crore in the year-ago period. Total expenses were at Rs 1,003.92 crore, higher by 23.03 per cent from the year-ago quarter. Sintex Industries is going through an insolvency resolution process. Its lenders have approved the resolution plan (RP) submitted by Reliance Industries jointly with Assets Care & Reconstruction Enterprise on March 19, 2022. The interim resolution professional (IRP) has submitted the RP before the Ahmedabad bench of the National Company Law Tribunal (NCLT) for its approval. "As on date, approval of the resolution plan is pending before NCLT Ahmedabad," Sintex Industries said.

Sintex Industries Ltd.

24 Aug 2022

Sintex Industries resolution delay makes lenders wait longer for recovery

Economic Times

The said shareholder had opposed the decision, citing suspension of the company's stock from trading before the case was admitted in NCLT which had caused him a financial loss. "But the irony is that the court has already heard the shareholder in July and even in that case no order has been passed. So, we are moving in circles," said a second person cited above.

Sintex Industries Ltd.

24 May 2022

Sintex Ind Standalone March 2022 Net Sales at Rs 1,049.76 crore, up 48.78% Y-o-Y

Moneycontrol

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Sintex Ind Consolidated March 2022 Net Sales at Rs 1,028.49 crore, up 42.53% Y-o-Y

Moneycontrol | 24 May 2022

Sintex Industries Ltd.

21 Apr 2022

Welspun looks to acquire bankrupt Sintex group arm

livemint

Welspun told the exchanges that it has set up an entity under the name Big Shot Infra Facilities, which it intends to use as an SPV

Sintex Industries Ltd.

24 Mar 2022

Reliance Industries, ACRE bid for Sintex filed before NCLT for approval

Business Standard

The joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) for debt-ridden Sintex Industries has been moved before the NCLT for its approval after getting unanimously selected by the lenders of the textiles maker. The resolution professional of Sintex Industries has filed the resolution plan by RIL and ACRE, as approved by the Committee of Creditors (CoC) before the Ahmedabad Bench of the National Company Law Tribunal (NCLT), said a regulatory filing. "... we would like to inform that the Interim Resolution Professional of the Company has duly filed the resolution plan as approved by the CoC with the NCLT, Ahmedabad Bench on 23rd March, 2022, in accordance with Section 30(6) of the Insolvency and Bankruptcy Code, 2016," it said. As per the IBC procedures, RP has to submit the resolution plan as approved by the CoC to NCLT under Section 30(6) of IBC, which gives its final approval. Earlier this week, Sintex Industries, which is going through the...

Sintex Industries Ltd.

21 Mar 2022

Zerodha's Nithin Kamath laments investor buying Sintex shares. Here's why

Economic Times

It is concerning that we have a few customers still buying Sintex shares even after this nudge that the stock price will go to (Rs) 0 and mandating a TOTP. There are so many who decide to buy just because a stock is at 52 week or all-time lows without caring about the reason, Kamath said.

Zerodha warns about investing in Sintex shares

livemint | 21 Mar 2022 2 more

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