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Himatsingka's consolidated performance hurt by high raw costs
20
May '11
Himatsingka Seide Limited, a vertically integrated home textile major, reported a Consolidated revenue of Rs. 1,232.67 crores for the year ended March 31, 2011 as compared to Rs. 1,075.34 crores for the year ended March 31, 2010, a growth of 14.63%.

• Retail and Distribution revenues in North America represented by brands and private label lines reported revenue of USD 200.53 million for the year ended March 31, 2011 as compared to USD 170.13 million for the year ended March 31, 2010, a growth of 17.87%.
• Manufacturing revenues (Silk / Blended Fabrics Division and Bedding Division) reported revenue of Rs. 508.02 crores for the year ended March 31, 2011 as compared to Rs 465.11 crores for the year ended March 31, 2010, a growth of 9.23%.
• Retail and Distribution revenues in Europe through the “Bellora” brand reported revenue of Euro 19.41 million for the year ended March 31, 2011 as compared to Euro 19.28 million for the year ended March 31, 2010, a growth of 0.67%.
• Retail and Distribution revenues in Asia through the “atmosphere” brand reported revenue of Rs. 47.20 crores for the year ended March 31, 2011 as compared to Rs. 51.47 crores for the year ended March 31, 2010, a decline of 8.29%.
• Consolidated EBITDA for the year stood at Rs 91.26 crores as compared to Rs 99.79 crores in the previous year.
• Consolidated net profit / (loss) for the year stood at Rs. (16.57) crores as compared to Rs. 3.26 crores (excluding exceptional items) for the previous year.

Commenting on results Mr. Shrikant Himatsingka, Executive Director, Himatsingka Seide Ltd said “Our consolidated performance has been impacted by the unprecedented increase in raw material prices during the year. Notwithstanding the raw material impact our manufacturing and distribution businesses registered a stable performance during the fiscal. We have seen strong growth in North America and consistency in European and Asian markets.”

The Himatsingka Group is a vertically integrated Home Textile major with a global footprint. The Group focuses on the manufacturing, retailing and distribution of Home Textile products.

Himatsingka Seide Limited

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