Amit Patel has turned a conservative organisation into a professionally managed one.
At 43, Amit D Patel, is one of the brains behind the Sintex Group’s growth story. He has two decades of experience in the textile, chemicals and plastics industries.
In 1993, Patel was appointed whole-time director of Sintex Industries Limited (SIL). Since then, the company has diversified into many textile products (marketed under the brand name BVM) and plastics products (marketed under the brand name Sintex).
Having inherited a conservative organisation, he turned it around into a growth-driven professionally managed one, spearheading modernisation and expansion programmes in both divisions that have yielded scale on the one hand and innovative products on the other.
Patel has introduced monolithic construction, prefabricated structures, quality corduroy fabric and structured yarn dyed textiles. He has entered into strategic tie-ups with international partners in the plastics and textile divisions. As the one who fashions corporate strategy for the Sintex Group, he is responsible for its mergers and acquisitions activities, managing the finances and liaising with prospective investors.
The company has achieved numerous milestones under his leadership. These include attracting investment from private equity funds like JP Morgan (in 1994-95) and Warburg Pincus (in 2004-05); making the first acquisition in the telecom industry space by acquiring a 74 per cent stake in Noida-based German JV Zeppelin Mobile Systems India Limited; and the acquisition of US-based Wausaukee Composites Inc., Nief Plastic of France and Bright AutoPlast Private Limited.
Patel has also successfully raised around $600 million via FCCBs, QIBs and preferential allotment of warrants. Sintex Industries has grown to an over Rs 3,200 crore company with a strong growth outlook, driven by innovation and acquisitions. It is a leading player in innovative plastic products and value-added niche textile segments.
More From This Section
The company follows different strategies in its two business segments. In plastics the thrust is on innovating and identifying mass utility products across the industrial as well as household segments. In textiles its focus is on structured fabrics. The company consistently explores new avenues of opportunity and partners with the best in the business in order to achieve excellence and create continuing value.
From a Kalol-based Indian company, Sintex has become a global group with a presence in nine countries across four continents. It has delivered an unbroken dividend track record over the last seven decades besides achieving five-year revenue CAGR of 26 per cent and net profit CAGR of 49 per cent.