I held Sintex for more than 4-5 years and than sold off. My key take away was that an equity dilution is always round the corner with this company. Coupled with extremely poor capital allocation it always seemed like that the company was undervalued but never reached the stage it should. This does not give a lot of confidence about the management and promoters. I think this discussion chain has most of the pitfalls highlighted and I would recommend everyone to go thru them before investing.
Again things might have changed since I sold off my holding about 4-5 months back so please do you own due diligence. I am currently not holding this in my portfolio.