Sintex Industries defaults on NCD payments worth ₹86 crore
On Monday, CARE Ratings downgraded the company to “issuer non-cooperating” category as it had failed to provide information for monitoring of the rating.The default by Sintex follows the company’s reporting a massive fall in its profit in Q4:
Mumbai: Textile manufacturer Sintex Industries Ltd on Wednesday said that it has defaulted on non-convertible debentures (NCD) worth 86 crores, a day after a rating downgrade by CARE Ratings, the company said in an exchange filing.
The company, a major texti...
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