Himatsingka Seide Ltd, an Indian manufacturer and distributor of suite of textile products, posted 347.3 per cent jump in its sales to ₹819.9 crore during the first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹183.3 crore in the corresponding period of prior fiscal. EBITDA for the three-month period surged to ₹163.1 crore (Q1 FY21: loss ₹80.7 crore).
“We are pleased with the operating performance for Q1 FY22. We are confident of continuing with the growth momentum for FY22 and mitigating inflationary impacts aided by pricing , enhanced capacity utilisation levels and operational efficiencies,” Shrikant Himatsingka, managing director & group CEO, said in a press release.
Profit after tax increased to ₹57.7 crore (loss: ₹139.8 crore), whereas total expenses were ₹737.2 crore (₹695.3 crore).
According to the company, it continues to witness strong demand for soft home products and order books for FY22 remains robust. Furthermore, the textile manufacturer expects to enhance capacity utilisation levels at its sheeting and terry towel plants.
“Going forward we remain focussed on improving the capacity utilisation levels across our manufacturing facilities while enhancing market share across key regions. Our impetus on deleveraging and improving capital efficiencies continue to gain traction and will be central to our operating strategy going into FY22,” Himatsingka concluded.
Fibre2Fashion News Desk (JL)
Himatsingka Seide Ltd, an Indian manufacturer and distributor of suite of textile products, posted 347.3 per cent jump in its sales to ₹819.9 crore during the first quarter (Q1) of FY22 ended on June 30, 2021, compared to ₹183.3 crore in the corresponding period of prior fiscal. EBITDA for the three-month period surged to ₹163.1 crore (loss ₹80.7 crore).