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Himatsingka shows stable performance
07
Nov '11
Himatsingka Seide Limited announced its financial results for the quarter ended 30th September, 2011.

Himatsingka, a vertically integrated home textile major reported consolidated revenues of Rs. 691.51 crores vs Rs. 661.86 crores in the corresponding half of the previous year, a growth of 4.5%.

Commenting on results Mr. Shrikant Himatsingka, Executive Director, said “Our manufacturing and distribution divisions have demonstrated a stable performance during the quarter. The EBITDA adjusted for foreign exchange fluctuations for the quarter and six month period has shown significant improvement year-on-year. We continue to focus on enhancing our operating performance across divisions”.

Distribution revenues in North America represented by brands and private label lines grew 12 % to USD 122.23 million vs USD 109.14 million in the corresponding half of the previous year.

Distribution revenues in Europe through the “Bellora” brand declined by 11.5% to Euro 7.90 million vs Euro 8.93 million in the corresponding half of the previous year.

Distribution revenue in India / Middle East /South East Asia as represented through Atmosphere brand grew 5% to Rs. 22.94 crores vs Rs. 21.85 crores in the corresponding half of the previous year.

Manufacturing revenues grew 4% to Rs.317.17 crores vs Rs. 304.89 crores in the corresponding half of the previous year.

Consolidated EBITDA grew 11.4% to Rs. 65.88 crores vs Rs. 59.12 crores in the corresponding half of the previous year.

Consolidated Net profit grew 553.8% to Rs. 19.81 crores vs Rs. 3.03 crores in the corresponding half of the previous year.

Consolidated debt as on November 5, 2011 stood at Rs.661 crores vs Rs.745 crores as on March 31, 2011.

Consolidated financial performance (Quarter ended 30th September 2011)

Consolidated revenues grew 1.5% to Rs. 365.03 crores vs Rs. 359.63 crores in the corresponding quarter of the previous year.

Distribution revenues in North America represented by brands and private label lines grew 6.8 % to USD 64.93 million vs USD 60.79 million in the corresponding quarter of the previous year.

Distribution revenues in Europe through the “Bellora” brand declined to 13.1% to Euro 3.73 million vs Euro 4.29 million in the corresponding quarter of the previous year.

Distribution revenue in India / Middle East /South East Asia as represented through Atmosphere brand grew 12.3 % to Rs. 11.69 crores vs Rs. 10.42 crores in the corresponding quarter of the previous year.

Manufacturing revenues grew 4.7 % to Rs.158.64 crores vs Rs. 151.45 crores in the corresponding quarter of the previous year.

Consolidated EBITDA declined 4.3% to Rs 35.57 crores vs Rs 37.15 crores in the corresponding quarter of the previous year.

Consolidated Net profit grew 1.6% to Rs. 10.26 crores vs Rs. 10.10 crores in the corresponding quarter of the previous year.

Himatsingka Seide Limited

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