Himatsingka Seide Ltd

₹ 93.8 1.02%
30 Sep - close price
About

Himatsingka Seide Ltd. is a vertically integrated global textile major that designs, develops, manufactures and distributes a suite of home textile products. It has installed capacities for manufacturing bedding and bath products, drapery and upholstery fabrics, and fine-count cotton yarn which are among the largest in the world.

Company produces home textiles for over 12 global brands, licensed and owned. It owns exclusive license rights of global iconic brands like Calvin Klein, Tommy Hilfiger, Kate Spade, Royal Velvet, Barbara Berry and Waverly. [1]

It also entered into a licensing agreement with The Walt Disney company to manufacture and distribute a broad range of home textile products inspired by archives and characters from all its franchisee including Disney, Marvel, Pixar and Lucas to increase its presence in the European region. [2]

Key Points

Major CAPEX
Company undertook major capital expenditure programme that took 3-4 years to complete. It committed investments of approximately 2,500 crores and all three projects were commissioned on schedule. All of these facilities were developed in Hassan (Karnataka). This capex programme increased company's Fixed Assets by 3 times in the last 3-4 years. [1]

  • Market Cap 924 Cr.
  • Current Price 93.8
  • High / Low 312 / 87.8
  • Stock P/E 12.4
  • Book Value 174
  • Dividend Yield 0.53 %
  • ROCE 9.03 %
  • ROE 9.49 %
  • Face Value 5.00

Pros

  • Stock is trading at 0.54 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 7.83% over last 3 years.
  • Dividend payout has been low at 5.24% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
448 446 431 301 142 391 559 590 695 692 723 750 504
321 325 324 245 164 310 414 488 556 566 609 663 481
Operating Profit 127 121 108 56 -22 81 145 101 139 125 114 87 22
OPM % 28% 27% 25% 19% -15% 21% 26% 17% 20% 18% 16% 12% 4%
10 16 -8 32 9 12 5 2 5 3 2 10 41
Interest 31 35 41 45 38 38 36 32 33 33 39 42 60
Depreciation 19 17 27 29 26 28 27 27 27 29 29 29 29
Profit before tax 87 85 32 14 -77 27 87 44 83 67 48 26 -25
Tax % 34% 32% 35% 26% 32% 24% 34% 36% 30% 23% 35% 49% 16%
Net Profit 57 58 21 11 -53 20 58 28 58 52 31 13 -21
EPS in Rs 5.82 5.85 2.15 1.08 -5.34 2.07 5.85 2.88 5.92 5.27 3.16 1.33 -2.17
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
508 650 714 984 948 1,022 1,398 1,617 1,745 1,601 1,682 2,859 2,668
488 559 606 844 795 780 1,085 1,232 1,266 1,215 1,367 2,393 2,320
Operating Profit 20 92 108 140 153 242 313 384 479 386 315 466 348
OPM % 4% 14% 15% 14% 16% 24% 22% 24% 27% 24% 19% 16% 13%
14 7 17 13 37 42 39 33 67 76 27 18 57
Interest 29 31 37 47 46 61 65 72 111 152 151 147 173
Depreciation 48 48 46 46 35 38 43 56 85 91 109 114 116
Profit before tax -42 20 42 59 109 186 245 289 350 218 81 224 115
Tax % 0% 0% 0% -0% 0% 25% 28% 26% 32% 33% 34% 31%
Net Profit -42 20 42 59 109 140 177 215 236 147 54 154 75
EPS in Rs -4.28 2.03 4.30 5.98 11.11 14.18 17.96 21.83 23.97 14.89 5.46 15.67 7.59
Dividend Payout % 0% 25% 23% 25% 18% 18% 14% 11% 21% 3% 9% 3%
Compounded Sales Growth
10 Years: 16%
5 Years: 15%
3 Years: 18%
TTM: 19%
Compounded Profit Growth
10 Years: 23%
5 Years: -2%
3 Years: -13%
TTM: -55%
Stock Price CAGR
10 Years: 10%
5 Years: -23%
3 Years: -11%
1 Year: -65%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 8%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
49 49 49 49 49 49 49 49 49 49 49 49
Reserves 475 468 503 550 635 837 1,017 1,171 1,396 1,440 1,510 1,661
499 451 464 443 500 750 1,166 1,886 2,333 2,478 2,327 2,642
132 166 161 231 186 181 283 556 823 889 1,125 1,191
Total Liabilities 1,155 1,134 1,177 1,273 1,371 1,818 2,516 3,662 4,601 4,857 5,011 5,543
479 440 407 368 345 542 804 1,735 1,722 2,354 2,419 2,437
CWIP 6 9 6 9 36 28 99 28 634 172 142 44
Investments 295 338 352 358 395 294 230 425 600 588 889 969
374 347 413 537 594 953 1,383 1,474 1,646 1,743 1,562 2,093
Total Assets 1,155 1,134 1,177 1,273 1,371 1,818 2,516 3,662 4,601 4,857 5,011 5,543

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
76 80 115 103 198 86 75 83 539 295 369 39
-32 5 -71 -18 -193 -72 -476 -607 -749 -265 -35 -142
-49 -85 -32 -88 -6 81 332 568 285 -151 -297 148
Net Cash Flow -6 -0 12 -4 -1 96 -69 44 75 -121 37 46

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 36 41 37 39 23 70 89 86 94 113 144 121
Inventory Days 179 148 129 118 100 114 116 135 187 238 144 94
Days Payable 111 114 117 113 72 67 62 83 147 180 234 148
Cash Conversion Cycle 104 74 49 44 51 117 143 137 135 171 54 67
Working Capital Days 66 31 23 21 1 102 146 150 105 138 85 116
ROCE % -1% 5% 7% 10% 13% 17% 16% 14% 13% 10% 6% 9%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
47.57 47.57 47.57 47.57 47.57 47.57 47.57 47.57 47.57 47.57 47.57 47.57
4.29 4.15 3.67 2.96 2.36 2.93 3.16 3.46 4.15 4.06 4.06 3.15
15.25 16.39 16.50 15.52 15.03 14.88 15.66 14.29 11.92 10.57 10.70 9.53
32.89 31.89 32.26 33.95 35.04 34.62 33.61 34.68 36.36 37.81 37.68 39.75

Documents

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