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Himatsingka gets govt nod to expand Hassan facility
Jun '15
Vertically integrated textile design and manufacturing company Himatsingka Seide has received approval from the Karnataka government to expand its facility at Hassan.
In a filing to the BSE, the company said, “The Government of Karnataka has given an in-principle approval to Himatsingka Seide Ltd for a proposal to expand its Hassan facility with an investment of Rs 1,325 crore.”
Himatsingka’s product range includes decorative fabrics for home furnishings and fabrics for men’s and women’s wear.
In January-March 2015 quarter, the company’s net profit jumped 124 per cent year-on-year to Rs 25.86 crore. However, its overall income declined 8.7 per cent to Rs 454.6 crore. (RKS)

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