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Himatsingka Seide reported Q4 revenue of INR682 Cr, down 3% YoY, with FY25 revenue stable at INR2,843 Cr. Capacity utilization stood at 99% (spinning), 60% (sheeting), and 68% (terry). India operations crossed ~INR100 Cr revenue, targeting INR100-200 Cr by FY26 with 15% EBITDA margins. Consolidated net debt declined to INR2,425 Cr, with further deleveraging planned. US tariffs may pressure margins by 100-200 bps, offset partly by India-China tariff advantages. Capex will remain muted near INR60 Cr; focus remains on working capital and operational efficiency.