Himatsingka Seide Consolidated Net Revenue FY18 Rs. 2266.69 Cr. Up by 5.3% Over FY17

Himatsingka Seide, part of the Himatsingka Group, announced results for the quarter and financial year ended March 31, 2018.

Consolidated Financial Highlights for financial year ended 31^st March 2018

Consolidated Financial Highlights for the Quarter Ended 31^st March 2018

Consolidated Financial Summary – Q4 FY 18 and FY 18

Commenting on the Company’s performance, Mr. Shrikant Himatsingka, Managing Director & Group CEO said, “The operating performance for FY 18 has been satisfactory. Going into FY19, we continue to remain focused on expanding our brand portfolio, sweating manufacturing capacities and enhancing our market share across geographies and categories.”

Business Update for FY 2018

• Successfully commissioned the world’s largest Spinning Plant under one roof with capacity of 211,584 spindles

• Successfully concluded the acquisition of the home textile portfolio of Global Brands Group Holdings Limited. The home portfolio includes the exclusive licensing rights for the Tommy Hilfiger home brand (For North America), the Copper Fit brand and other brands

• Revenues from Brands stood at approximately Rs. 1,610 Crores for FY 2018

• Commenced construction on the Terry Towel project during Q4 FY 2018

• We continue to remain focus on sweating assets across the value chain and build brands lead revenue stream across product categories 

About Himatsingka Group

The Himatsingka Group is a vertically integrated textile major with a global footprint. The Group focuses on the manufacture, retail and distribution of Home Textile products. On the manufacturing front, the Group operates amongst the largest capacities in the world for producing Bedding products, Terry Towels, Drapery & Upholstery fabrics and Ultra-Fine count Cotton Yarn. Spread across North America, Europe and Asia, the Group’s retail and wholesale distribution divisions own and or license among the largest brand portfolios in the home textile space and cater to private label requirements of major retailers across geographies.

Disclaimer

Statements in this document relating to future status, events, or circumstances, including without limitation statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on commercial estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may materially differ from those anticipated in such forward-looking statements. Himatsingka Seide Limited may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors that may or may not be relevant.