Sintex Industries achieves 50% capacity utilization after Cyclone Tauktae

Sintex Industries Limited updated the exchanges Friday on damage due to Cyclone Tauktae at the Company’s Plant at Lunsapur, Gujarat. The company said that the expected quantum of damage caused due to Cyclone is yet to be ascertained, considering the electricity was restored at the Plant recently.

“Restoration work is in progress. Due to the cyclone, capacity utilization was affected. However, presently 50% of capacity utilization is achieved. Amount of Insurance coverage is 100% except the loss of profit,” the company said in a filing.

Sintex Industries Ltd trade on Friday ended at Rs4.78 per piece up by Rs0.07 or 1.49% from its previous closing of Rs4.71 per piece on the BSE.

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( With inputs from indiainfoline)