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Revenue
₹611.37 Cr
verified against source
Revenue YoY
-11.7%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Himatsingka Seide reported Q3 FY26 consolidated revenue of ₹637.26 crore, down ~11.7% YoY from ₹722 crore, impacted by US tariff overhang. EBITDA and PAT were not disclosed. Management highlighted that capacity utilization saw a 100-200 bps correction in sheeting and terry divisions, while spinning ran at 99%. The recent US tariff reduction from 50% to 18% and the EU FTA are expected to open new opportunities, but Q4 will see no immediate relief as negotiations with clients are ongoing. The company plans to diversify into new product verticals (apparel, fabric, yarn solutions) leveraging existing infrastructure, with no incremental capex. India revenue is targeted at ₹400-500 crore in 2 years, and US exposure is expected to fall below 50% in 18-24 months. Key risk: margin normalization may be slower than expected if client negotiations are protracted.
Colored figures show movement against the previous available record.
Guidance to track
- Margins should progressively normalize in FY27 as negotiations with clients to recover tariff support conclude.
- India business expected to reach ₹400-500 crore revenue in the next 18-24 months.
- US revenue share expected to fall substantially below 50% over the next 18-24 months.
- New product verticals (apparel, fabric, yarn) will be funded within existing annual maintenance capex, with no incremental capex.
Risks flagged
- Management indicated that margin normalization depends on bilateral negotiations with clients, which may take time and may not fully restore previous margins.
- Management stated Q4 will see no major positive impact from US tariff reduction due to timing of executive orders and negotiations.
- Diversification into apparel, fabric, and yarn solutions is a strategic shift; success depends on execution and market acceptance.
- Management refuted analyst's suggestion that US cotton is cheaper, stating price differential is substantial, limiting cost arbitrage.
Key quotes
- We feel that margin should normalize going into as we progress in FY27.
- Himatsingka is not solely a home textile player... we have a very strong knowhow and infrastructure capability in the cellulosic value chain and we want to leverage that for other product categories.
- I think India should become a approximately 400 to 500 cr market in the next I would say 2 years.
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