Himatsingka Seide Ltd

Himatsingka Seide Ltd

₹ 140 -0.17%
24 Jun - 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

Business[1]
Himatsingka is a vertically integrated global textile major that designs, develops, manufactures and distributes textile products. With 4 manufacturing facilities,its installed capacities for Bedding Products, Bath Products and Cotton Yarn Products are amongst the largest in the world.

  • Market Cap 1,377 Cr.
  • Current Price 140
  • High / Low 188 / 113
  • Stock P/E 12.2
  • Book Value 158
  • Dividend Yield 0.00 %
  • ROCE 10.5 %
  • ROE 7.50 %
  • Face Value 5.00

Pros

  • Stock is trading at 0.88 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.65% over past five years.
  • Company has a low return on equity of 3.93% over last 3 years.
  • Debtor days have increased from 84.3 to 116 days.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
746 815 813 791 765 638 613 737 690 682 739 723 697
618 657 672 661 664 627 587 633 568 534 592 567 552
Operating Profit 128 159 141 130 100 11 26 104 122 148 147 157 145
OPM % 17% 19% 17% 16% 13% 2% 4% 14% 18% 22% 20% 22% 21%
2 4 3 2 10 41 26 13 2 4 9 2 6
Interest 40 42 41 48 50 69 68 72 48 66 72 75 83
Depreciation 37 38 40 40 40 41 41 41 40 41 41 38 38
Profit before tax 53 83 63 44 20 -58 -57 3 36 44 43 45 30
Tax % 29% 30% 24% 38% 61% 5% 40% 32% 38% 34% 33% 31% 21%
38 58 48 27 8 -55 -34 2 22 29 29 31 24
EPS in Rs 3.82 5.86 4.88 2.75 0.82 -5.56 -3.44 0.22 2.27 2.96 2.92 3.16 2.41
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,689 2,028 1,943 1,890 2,138 2,249 2,618 2,358 2,258 3,184 2,678 2,841
1,530 1,826 1,741 1,590 1,758 1,797 2,074 1,940 1,969 2,652 2,407 2,245
Operating Profit 160 202 202 300 381 452 544 418 289 532 271 596
OPM % 9% 10% 10% 16% 18% 20% 21% 18% 13% 17% 10% 21%
11 1 21 16 13 17 36 -12 14 18 75 21
Interest 67 85 87 95 96 107 163 195 177 181 257 296
Depreciation 52 54 45 67 58 72 109 126 152 158 164 158
Profit before tax 52 63 91 154 239 290 308 85 -26 210 -75 163
Tax % -2% 14% -3% 19% 24% 31% 36% 84% -101% 33% 15% 31%
53 55 94 125 182 202 197 13 -53 141 -64 113
EPS in Rs 5.82 6.43 9.69 12.72 18.50 20.48 19.99 1.35 -5.42 14.30 -6.51 11.46
Dividend Payout % 17% 23% 21% 20% 14% 12% 25% 37% -9% 4% 0% 2%
Compounded Sales Growth
10 Years: 3%
5 Years: 2%
3 Years: 8%
TTM: 6%
Compounded Profit Growth
10 Years: 7%
5 Years: -10%
3 Years: 60%
TTM: 236%
Stock Price CAGR
10 Years: 7%
5 Years: -2%
3 Years: -8%
1 Year: 23%
Return on Equity
10 Years: 8%
5 Years: 2%
3 Years: 4%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 49 49 49 49 49 49 49 49 49 49 49 49
Reserves 586 696 756 840 1,018 1,178 1,372 1,311 1,266 1,420 1,400 1,510
703 805 756 1,007 1,407 2,255 2,790 2,963 2,593 2,922 2,806 2,898
259 357 369 300 418 728 974 932 1,183 1,236 1,262 1,338
Total Liabilities 1,597 1,906 1,930 2,196 2,892 4,211 5,185 5,255 5,091 5,627 5,517 5,795
989 1,044 1,058 1,012 1,271 2,235 2,382 3,157 3,184 3,176 3,084 2,947
CWIP 6 11 46 44 113 32 634 173 142 44 30 32
Investments 3 0 0 48 0 126 123 29 18 13 10 2
599 852 826 1,094 1,508 1,818 2,046 1,896 1,747 2,394 2,394 2,814
Total Assets 1,597 1,906 1,930 2,196 2,892 4,211 5,185 5,255 5,091 5,627 5,517 5,795

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
201 49 228 181 186 19 478 434 576 68 354 322
-96 -40 -71 -121 -544 -642 -743 -206 -12 -141 -10 -117
-84 -11 -158 26 296 673 322 -348 -544 121 -401 -228
Net Cash Flow 21 -2 -0 86 -62 50 57 -120 20 48 -57 -23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 15 2 10 12 12 16 23 18 54 46 91 116
Inventory Days 135 177 162 190 224 305 333 351 235 251 209 293
Days Payable 74 87 80 64 78 108 125 120 180 157 193 252
Cash Conversion Cycle 75 92 92 138 158 213 231 249 108 140 108 157
Working Capital Days 38 50 53 91 108 150 120 123 112 144 172 202
ROCE % 9% 11% 11% 14% 15% 13% 12% 8% 4% 9% 4%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57% 47.57%
3.46% 4.15% 4.06% 4.06% 3.15% 2.65% 2.44% 2.20% 2.69% 3.91% 4.03% 3.99%
14.29% 11.92% 10.57% 10.70% 9.53% 9.08% 7.44% 5.12% 2.42% 1.24% 1.05% 0.99%
34.68% 36.36% 37.81% 37.68% 39.75% 40.71% 42.57% 45.13% 47.32% 47.31% 47.36% 47.45%
No. of Shareholders 31,44032,44335,36445,93250,77051,01051,40550,30749,39246,19852,80652,945

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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