Himatsingka Seide Ltd, an Indian manufacturer and distributor of suite of textile products, reported 58.7 per cent increase in its income to Rs. 748.04 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to income of Rs. 471.40 crore in the corresponding period of prior fiscal. EBITDA for Q4 FY21 rose to Rs. 129.66 (Q4 FY20: Rs. 96.60 crores).
“Despite the challenging conditions that prevailed during the first half of the FY 21, we are pleased with the operating performance during the second half of the Fiscal. Q4 FY 21 witnessed strong YoY revenue growth and strong operating margins corrected for regulatory uncertainties that prevailed during the quarter,” Shrikant Himatsingka, managing director & group CEO, said in a press release.
The company’s profit after tax for Q4 FY21 improve Rs. 37.57 crore (loss: Rs. 68.84 crore), whereas total expenses were Rs. 695.36 crore (Rs. 466.70 crore). According to the company, the ramp up of capacity utilisation levels at its new terry towel facility is on track and is expected to continue to rise in FY22, while demands for both bedding and bathing products remained strong.
“Going forward we remain focused on improving the capacity utilisation levels across our manufacturing facilities while enhancing market share across key regions. Our impetus on deleveraging and improving capital efficiencies continue to gain traction and will be central to our operating strategy going into FY22,” Himatsingka concluded.
