Textiles company Himatsingka Seide announced consolidated Q1FY24 results: Total Income for Q1FY24 stood at Rs 686.54 crore vs Rs 679.02 crore in Q1FY23, increase of 1.1% YoY. EBITDA for Q1FY24 was Rs 152.09 crore vs Rs 52.02 crore in Q1FY23. EBITDA Margin for Q1FY24 stood at 22.2%. EBIT for Q1FY24 stood at Rs 110.74 crore vs Rs 10.79 crore in Q1FY23. PBT for Q1FY24 stood at Rs 44.37 crore vs a loss of Rs 57.77 crore in Q1FY23. PAT for Q1FY24 stood at Rs 29.15 crore vs a loss of Rs 54.73 crore in Q1FY23. Commenting on the Company’s performance, Shrikant Himatsingka, Executive Vice Chairman and Managing Director said, “Our Q1FY24 operating performance witnessed progressive improvement in line with our expectations. We remain focused on continuing to increase our capacity utilisation levels and market share across key regions and channels we operate in. In addition, deleveraging and improving working capital cycles continue to be central to our operating strategy going forward.” Result PDF
Textiles firm Himatsingka Seide announced Q1FY23 Result : Q1 FY23 Total Revenue Down 17.2% YoY to Rs 679.02 Crores Consolidated Total Income for Q1 FY23 stood at Rs 679.02 Crores vs Rs 819.88 Crores in Q1 FY22. This represents decline of 17.2% YoY Consolidated EBITDA for Q1 FY23 was Rs 52.02 Crores vs Rs 163.15 Crores in Q1 FY22. The EBITDA Margin for Q1 FY23 stood at 7.7%. Consolidated EBIT for Q1 FY23 stood at Rs 10.79 Crores vs Rs 125.02 Crores in Q1 FY22. Consolidated PBT for Q1 FY23 was a loss and stood at Rs 57.77 Crores vs profit of Rs 82.68 Crores in Q1 FY22. Consolidated PAT for Q1 FY23 was loss of Rs 54.73 Crores vs profit of Rs 57.70 Crores in Q1 FY22. Commenting on the Company’s performance, Mr. Shrikant Himatsingka, Managing Director & Group CEO said: “We have begun FY23 on a challenging note given the unprecedented levels of inflation, macro-economic volatility and disrupted supply chains. However, we see these as short term challenges and we remain optimistic about growth prospects given our strong manufacturing capabilities, global brand portfolio and emerging macro-economic opportunities that will position us for growth.” Result PDF