Himatsingka Seide Limited — Updates, 14-11-2024: Press Release

Himatsingka Seide Limited reported total revenue of ₹700.31 Crores for Q2 FY25, reflecting a 6.4% decline compared to ₹748.15 Crores in Q2 FY24. EBITDA decreased by 7.5% to ₹144.55 Crores, resulting in an EBITDA margin of 20.6%. The company’s EBIT dropped by 7.8% to ₹106.49 Crores, while profit before tax (PBT) saw a significant decrease of 40.2% to ₹25.76 Crores. The net profit (PAT) for the quarter was ₹21.70 Crores, down 24.6% year-on-year.

Operational performance was impacted by a recalibration of the brand portfolio and ongoing global supply chain congestions. Capacity utilization rates were noted at 99% for spinning, 61% for sheeting, and 67% for the terry towel division. Despite these challenges, domestic revenues showed notable improvement, particularly in H1 FY25. To strengthen its balance sheet, the company successfully executed a Qualified Institutional Placement (QIP) to raise ₹400 Crores, primarily intended for debt repayment. The outlook remains cautiously optimistic, with focus on increasing market share and capacity utilization in the medium term.