Any current/future new fundraising through debt or equity?

Recently completed a Qualified Institutional Placement (QIP) worth INR 400 crores with marquee investors. Substantial portion of QIP proceeds will be used to repay term debt, reducing net debt significantly. Additional internal initiatives are underway to further reduce term debt by approximately INR 200 crores. Management is balancing multiple parameters for fundraising size; hence, INR 400 crores was optimal currently. No immediate plans for additional equity fundraise beyond this QIP. Focus remains on improving leverage ratios soon through utilization ramp-up and existing initiatives rather

Future growth expectations in sales/revenue/volumes?

Himatsingka Seide aims to increase total revenue from around INR2,850 crores in FY '25 to INR4,000 crores within 18 to 24 months (FY '27 or FY '28). The domestic business, currently slightly below INR100 crores, is targeted to grow to INR300-400 crores over the next 2 years (by FY '27). Full utilization is expected to drive this growth, with planned capacity debottlenecking in the Terry division. The company is undergoing portfolio recalibration impacting short-term revenue, especially in the Sheeting division, but expects this to stabilize and drive growth thereafter. India market is

Future growth expectations in earnings/operating earnings/profits/EPS?

EBITDA margin expected to be in the 18% to 22% range, likely swimming between 18% to 20%. Domestic business revenue expected to grow from just under INR100 crores in FY '25 to INR300-400 crores by FY '27. Domestic EBITDA margins will initially be slightly lower than consolidated margins but progressively align with overall margins. Overall revenues targeted to grow from approx. INR2,850 crores in FY '25 to INR4,000 crores within 18 to 24 months (FY '27-FY '28). Margin profile expected to remain range-bound despite recalibration, with some short-term impacts on sheeting division but positive ou

Himatsing. SeideQ2 FY25Textiles & Apparels

Himatsing. Seide Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹64.2P/E: 15.4Market Cap: ₹865 CrSector: Textiles & Apparels

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

Himatsingka Seide aims to increase total revenue from around INR2,850 crores in FY '25 to INR4,000 crores within 18 to 24 months (FY '27 or FY '28).
The domestic business, currently slightly below INR100 crores, is targeted to grow to INR300-400 crores over the next 2 years (by FY '27).
Full utilization is expected to drive this growth, with planned capacity debottlenecking in the Terry division.
The company is undergoing portfolio recalibration impacting short-term revenue, especially in the Sheeting division, but expects this to stabilize and drive growth thereafter.
India market is projected to become an INR800-1,000 crore opportunity over 4-5 years, growing aggressively from current levels.
Exports and other jurisdictions (EU, UK, Middle East) will continue growing, with the U.S. maintaining but not dominating growth.
Overall volume and revenue growth is expected to ramp up significantly over the medium term as utilization and portfolio adjustments are completed.

Margin guidance

Category 3

EBITDA margin expected to be in the 18% to 22% range, likely swimming between 18% to 20%.
Domestic business revenue expected to grow from just under INR100 crores in FY '25 to INR300-400 crores by FY '27.
Domestic EBITDA margins will initially be slightly lower than consolidated margins but progressively align with overall margins.
Overall revenues targeted to grow from approx. INR2,850 crores in FY '25 to INR4,000 crores within 18 to 24 months (FY '27-FY '28).
Margin profile expected to remain range-bound despite recalibration, with some short-term impacts on sheeting division but positive outcomes anticipated in the medium term.
QIP proceeds and internal initiatives aim to reduce debt and improve financial leverage, supporting profitability growth.
Indian branded portfolio expected to grow robustly, contributing positively to earnings over the next few years.

See what Himatsing. Seide management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Recently completed a Qualified Institutional Placement (QIP) worth INR 400 crores with marquee investors.
Substantial portion of QIP proceeds will be used to repay term debt, reducing net debt significantly.
Additional internal initiatives are underway to further reduce term debt by approximately INR 200 crores.
Management is balancing multiple parameters for fundraising size; hence, INR 400 crores was optimal currently.
No immediate plans for additional equity fundraise beyond this QIP.
Focus remains on improving leverage ratios soon through utilization ramp-up and existing initiatives rather than large new fundraises.
Discussions on net debt targets are preferred offline, indicating no new major fundraising announcements at this time.

Order book

The document does not explicitly mention the current or expected order book or pending orders for Himatsingka Seide Limited. However, relevant insights related to business outlook and growth include: - The company is undergoing a recalibration exercise expected to complete in 4 to 6 months, aimed at optimizing brand portfolios and improving profitability. - There is an expectation to increase utilization levels in both Sheeting and Terry divisions, targeting a revenue run rate of around INR 4,000 crores in 18 to 24 months. - India business is expected to grow from just under INR 100 crores in FY '25 to INR 300-400 crores in 2 years. - Export demand remains optimistic with interest from multiple jurisdictions including the US, EU, UK, Middle East, and Far East. - Ongoing efforts to improve working capital cycles and reduce debt, supported by a recent INR 400 crores QIP. No specific figures or details on orderbook or pending orders are reported.

See what Himatsing. Seide management said on order book — free account, 30 seconds.

Capex plans

- Major capex cycle is behind the company; no significant new capex mentioned for the near future. - Current focus is on enhancing utilization levels in Terry and Sheeting divisions rather than new capital investments. - Working on debottlenecking plant processes to improve Terry division utilization. - Internal initiatives are ongoing that include balance sheet improvements and some potential equity fund-raising beyond the INR400 crore QIP. - No specific new strategic or capital investments disclosed in the discussion. Overall, the company is prioritizing operational optimization and balance sheet repair over fresh capex or strategic investments in the near to medium term.

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