Himatsingka Seide Ltd. — Earnings Release 2024

Aug 10, 2023

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REF: HSL/SEC/2023/59

August 10, 2023

To To The Deputy Manager The Manager Department of Corporate Services National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza, Plot No. C/1, G Block PJ Towers, Dalal Street Bandra-Kurla Complex, Bandra (E), Mumbai -400001 Mumbai 400051 Scrip Code: 514043 Symbol: HIMATSEIDE

Dear Sir/ Madam,

Sub: Press Release – August 10, 2023

We are enclosing herewith Press Release dated August 10, 2023.

Please take the same on record.

Thanking you,

Yours faithfully,

For Himatsingka Seide Limited

SRIDHAR Digitally signed by SRIDHAR M M Date: 2023.08.10 20:55:14 +05'30' M. Sridhar Company Secretary

Himatsingka Seide Limited Registered Office: 10/24 Kumara Krupa Road High Grounds, Bangalore 560 001, India T +91 8o 2237 8000, F +91 Bo 4147 9384 E hslblr@himatsingka.com CIN L17112KA1985PLC006647 www.himatsingka.com

PRESS RELEASE Bengaluru, August 10, 2023

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Bengaluru, August 10, 2023 - Himatsingka Seide Ltd. announced its financial results for the quarter ended June 30, 2023, today.

Q1FY24 Total Revenue Up 1.1% Y-o-Y basis to ₹686.54 Crores

CONSOLIDATED FINANCIAL SUMMARY – Q1 FY24

(Figures in ₹Crores )

Particulars	Q1 FY24	Q1 FY23	Y-o-Y % Change	Q4 FY23	Q-o-Q % Change	FY23
Total Income	686.54	679.02	1.1%	691.88	-0.8%	2,752.76
EBITDA	152.09	52.02	192.4%	124.30	22.4%	346.04
EBITDA Margin (%)	22.2%	7.7%	1449 bps	18.0%	419 bps	12.6%
EBIT	110.74	10.79	926.4%	84.30	31.4%	182.01
EBIT Margin (%)	16.1%	1.6%	1454 bps	12.2%	395 bps	6.6%
PBT	44.37	-57.77	-	35.87	23.7%	-75.22
PBT Margin (%)	6.5%	-8.5%	1497 bps	5.2%	128 bps	-2.7%
PAT	29.15	-54.73	-	22.35	30.4%	-64.07
PAT Margin (%)	4.2%	-8.1%	1231 bps	3.2%	102 bps	-2.3%

CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED JUNE 30, 2023

• Consolidated Total Income for Q1 FY24 stood at ₹686.54 Crores vs ₹679.02 Crores in Q1 FY23. This represents increase of 1.1% Y-o-Y.

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• Consolidated EBITDA for Q1 FY24 was ₹152.09 Crores vs ₹52.02 Crores in Q1 FY23. The EBITDA Margin for Q1 FY24 stood at 22.2%.

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• Consolidated EBIT for Q1 FY24 stood at ₹110.74 Crores vs ₹10.79 Crores in Q1 FY23.

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• Consolidated PBT for Q1 FY24 stood at ₹44.37 Crores vs loss of ₹57.77 Crores in Q1 FY23.

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• Consolidated PAT for Q1 FY24 stood at ₹29.15 Crores vs loss of ₹54.73 Crores in Q1 FY23.

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PRESS RELEASE Bengaluru, August 10, 2023

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BUSINESS UPDATE

• Our Q1 FY24 operating performance continued to demonstrate progressive improvement on the back of improved capacity utilisation levels, softening raw material prices and marginal easing of energy costs.

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During Q1 FY24, capacity utilisation levels of our manufacturing facilities stood as follows:

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Divisions	Q1 FY24	Q4 FY23
Spinning Division	99%	98%
Sheeting Division	66%	61%
Terry Towel Division	67%	65%

• We continue to see progressive improvement on the demand front driven by our expanding client base and growing presence in new markets.

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• Key raw material prices continue to see marginal softening during Q1 FY24 and thereby contributing to improved operating margins.

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• Our deleveraging initiatives have reduced our Net Debt to ₹2,512 crores in Q1 FY24 v/s ₹2,582 crores in Q4 FY23 and ₹2,797 Crores in Q1 FY23

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PRESS RELEASE Bengaluru, August 10, 2023

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Commenting on the Company’s performance, Mr. Shrikant Himatsingka, Executive Vice Chairman and Managing Director said:

“Our Q1 FY24 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.”

About Himatsingka

Himatsingka is an integrated textile group with a global footprint. The group designs, develops, manufactures and distributes a suite of textile products. On the manufacturing front, it operates amongst the largest capacities globally for producing Bedding, Bath, Drapery & Upholstery and Yarn products. Spread across North America, Europe and Asia, the Group operates amongst the largest brand and private label portfolios in the home textile space. With a team of over 10,000 associates, Himatsingka continues to build capacities and enhance its reach across global markets.

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PRESS RELEASE Bengaluru, August 10, 2023

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QUARTER ENDED JUNE 30, 2023 EARNINGS CALL INVITE

Himatsingka would like to invite you for the quarter ended June 30, 2023 earnings call on Friday, 11[th] August 2023 at 12:30 Hrs IST.

THE MANAGEMENT TEAM WILL BE REPRESENTED BY:

• Mr. Shrikant Himatsingka (Executive Vice Chairman and Managing Director),

• Mr. Sivalai Senthilnathan (Senior Vice President & CFO – Operations) and

• Ms. Shilpa Shanbhag (VP – Strategic Finance)

The teleconference will be moderated by Elara Securities (India) Private Limited.

CONFERENCE CALL DETAILS

Date: Friday, 11[th] August 2023

Time: 12:30 Hrs IST

DIAL-IN NUMBERS

Primary Access:	+91 22 6280 1146 / +91 22 7115 8047
International Toll Free:	USA: 1 866 746 2133
	UK: 0 808 101 1573
	Singapore: 800 101 2045
	Hong Kong: 800 964 448
	Australia: 1800053698

DIAMOND PASS LINK:

Click here for Registration

For further information, please contact:

Shilpa Shanbhag

VP – Strategic Finance Himatsingka Seide Limited Tel : +91 80 2237 8000 Email : shilpa.shanbhag@himatsingka.com

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