Sintex Industries Q1FY10E Result Estimates (Result on 14th July)

We expect net sales to increase 11% YoY to Rs8.1bn.
We expect operating margins to be at 16.4% and operating profits to increase 21% YoY to Rs1.3bn.
We expect adjusted net profits to increase by 10% YoY to Rs733mn (Q1FY09 adjusted net profit – Rs666mn).
The key things to watch out - (1) execution & order inflow in monolithic, (2) performance of subsidiaries especially those exposed to passenger auto, (3) impact of commodity price deflation on realizations /margins / absolute numbers and (4) growth in the domestic custom molding especially auto segment.