Mumbai, February 1, 2025 – Sintex Plastics Technology Limited (SPTL) (NSE: SPTL, BSE: 540653), currently undergoing insolvency proceedings, has reported a net loss of ₹1.27 crore for the quarter ended December 31, 2024, as per the unaudited standalone financial results approved by the liquidator.
Financial Performance Overview
The company, which is in the midst of liquidation under the Insolvency and Bankruptcy Code (IBC), 2016, continues to operate with minimal revenue and ongoing financial challenges.| Financial Metrics | Q3 FY25 (₹ Cr) | Q3 FY24 (₹ Cr) | 9M FY25 (₹ Cr) | 9M FY24 (₹ Cr) |
|---|---|---|---|---|
| Revenue from Operations | 0.00 | 0.00 | 0.00 | 0.01 |
| Total Income | 0.00 | 0.00 | 0.00 | 0.01 |
| Total Expenses | 0.02 | 0.00 | 1.27 | 1.81 |
| Net Loss | (0.02) | (0.00) | (1.27) | (1.80) |
| Earnings Per Share (₹) | (0.00) | (0.00) | (0.03) | (0.03) |
Key Observations
- The company did not generate revenue in Q3 FY25, similar to the previous quarters.
- Finance costs for the quarter stood at ₹0.02 crore, compared to ₹1.20 crore in the previous quarter.
- Net loss for nine months (April-December 2024) widened to ₹1.27 crore, compared to ₹1.80 crore in the same period last year.
- No exceptional items were recorded during the quarter.
Insolvency Proceedings & Outlook
SPTL is currently under the control of liquidator Bimal Ashok Desai, who is overseeing its operations as per the regulatory framework. The financial strain continues as the company lacks operational revenue, indicating an uncertain future.The company’s paid-up equity share capital remains unchanged at ₹63.62 crore, with earnings per share (EPS) at (₹0.03) for the nine-month period.
Market Impact
Given the ongoing insolvency process, investors remain cautious about the stock’s performance. The company’s next steps will largely depend on the outcome of the liquidation process and any potential restructuring efforts.For further updates, stakeholders are advised to monitor regulatory filings and stock exchange notifications.