Himatsingka Seide reports Q3 FY21 sales of ₹682 cr

Himatsingka Seide Ltd, an Indian manufacturer, retailer and distributor of home textiles, reported marginal 0.9 per cent sales growth to ₹681.65 crore in its third quarter (Q3) FY21 ended on December 31, 2020, compared to sales of ₹₹675.85 crore in the same period previous year. EBITDA for Q3 FY21 jumped 26.2 per cent to ₹157.33 (Q3 FY20: ₹124.71 crores).

 

“We have made significant progress on our operating performance during the quarter. We remain focused on improving the capacity utilisation levels across our manufacturing facilities while enhancing market share across key regions,” Shrikant Himatsingka, managing director & group CEO, said in a press release.

 

Profit after tax was ₹74.64 crore (₹39.35 crore). Total expenses for the quarter were ₹607.0 crore (₹636.5 million).

 

In line with Himatsingka’ s strategy to expand its global brand portfolio, company entered into a new licensing agreement with The Walt Disney Company for the European region. The license will give Himatsingka the rights to design, develop, manufacture and distribute a broad range of home textile products inspired by Disney's vast archives and characters from all its franchises including Disney, Marvel, Pixar and Lucas, as company reported in the release.

 

“Our impetus on deleveraging and improving capital efficiencies continue to gain traction and will be central to our operating strategy going into FY22,” Himatsingka said.