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Q2 FY'14 operating income surges 39% at Himatsingka Seide
Dec '13
Bangalore based Himatsingka Seide Ltd has registered robust growth of 39% in operating income for the second quarter of FY 14. Operating income has increased from Rs. 185.94 Cr (Q2 FY 13) to Rs. 251.22 Cr (Q2 FY 14) on account of better volume growth in home textile division and increase in realization across the business segment and weak Indian currency.  
The realization of bed linen segment has improved 25% to Rs. 416 per metre during said period while the same for draper & upholstery segment has improved 10.5% to Rs. 1251 per metre. Subsequently, the operating profit has shown improvement from Rs. 22.25 Cr vis-à-vis Rs. 28.69 Cr.
However, the operating profit margin has deteriorated 55 basis points to 11.42% as against 11.97%. The rise in manufacturing costs such as raw material and salary expense has affected the margin of Himatsingka Seide. 
Interest cost has marginally increased 7.94% to Rs. 10.2 Cr as compared to Rs. 9.45 Cr. However, the net profit margin rose from 2.71% to 3.82% because the interest cost as percentage of operating income has reduced substantially.    
Established in 1985, Himatsingka Seide has mainly three business segment: bed linen, drapers & upholstery and silk & blended yarn. Its retail and distribution network caters to over 8000 points of sale including 200 shop in shop of its licensed brands in major departmental stores and 50 exclusive retail stores across 22 countries. 

Fibre2fashion News Desk - India

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