Reliance Industrial Infrastructure Ltd, Acrysil Ltd, Subex Ltd and AAVAS Financiers Ltd are among the other gainers in the BSE's 'A' group today, 29 June 2022.

Himatsingka Seide Ltd spiked 11.45% to Rs 108.05 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 57774 shares were traded on the counter so far as against the average daily volumes of 25923 shares in the past one month.

Reliance Industrial Infrastructure Ltd surged 7.72% to Rs 907.55. The stock was the second biggest gainer in 'A' group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 75742 shares in the past one month.

Acrysil Ltd soared 7.66% to Rs 613.3. The stock was the third biggest gainer in 'A' group. On the BSE, 59575 shares were traded on the counter so far as against the average daily volumes of 24855 shares in the past one month.

Subex Ltd added 6.85% to Rs 26.5. The stock was the fourth biggest gainer in 'A' group. On the BSE, 9.44 lakh shares were traded on the counter so far as against the average daily volumes of 9.08 lakh shares in the past one month.

AAVAS Financiers Ltd rose 5.87% to Rs 2049.4. The stock was the fifth biggest gainer in 'A' group. On the BSE, 7275 shares were traded on the counter so far as against the average daily volumes of 4723 shares in the past one month.

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Himatsingka Seide announced that the Board of Directors of the Company at its meeting held on 30 May 2022, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Profit before tax tumbled 61.1% year-on-year to Rs 20.47 crore in Q4 March 2022. EBITDA declined 14.8% YoY to Rs 110.46 crore during the period under review. EBITDA margin stood at 14.3% in Q4 FY22 lower than 17.3% in Q4 FY21.

Total expense rose 7.43% to Rs 664.34 crore. Cost of material consumed rose 24.45% to Rs 452.72 crore while employee benefits expenses rose 4.71% to Rs 69.18 crore.

During Q4 FY22, capacity utilizations remained stable across the plants. We however foresee reduction in capacity utilisation levels in the near term on account of the unprecedented levels of inflation and supply chain challenges that have impacted global demand for our class of products, the company said.

During the quarter, revenue streams from brands stood at Rs 548 crore vs Rs 565 crore during Q4 FY21 and Rs 556 crore during Q3 FY22.

Meanwhile, FY22 registered a stable operating performance despite high inflationary and supply chain challenges. For the full year, the company reported net profit of Rs 140.82 crore in the year ended March 2022 as against net loss of Rs 53.35 crore in the year ended March 2021. Net sales rose 40.99% to Rs 3183.95 crore in the year ended March 2022 over the year ended March 2021.

EBITDA for FY22 was Rs 549.92 crore vs Rs 303.17 crore FY21, up 81.4%. EBITDA margin for FY22 stood at 17.2% as against 13.3% in FY21.

The company said: Although we expect inflationary headwinds to continue in the near term, our outlook on our industry and integrated business continue to be optimistic.

Shrikant Himatsingka, managing director & group CEO said: We are pleased with our operating performance for FY22, that saw us achieve record Revenues of over ₹3,200 crores, despite the challenging operating environment that prevailed through the fiscal. Operating profitability remained under pressure given the unprecedented levels of inflation witnessed during the fiscal. We see near term challenges on the demand and inflation front and remain focussed on price optimization, cost rationalisation, and enhancing market share across key regions.

The board recommended final dividend of Rs 0.50 per share for the financial year 2021-22.

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 textile space.

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Net profit of Himatsingka Seide declined 78.60% to Rs 8.04 crore in the quarter ended March 2022 as against Rs 37.57 crore during the previous quarter ended March 2021. Sales rose 2.51% to Rs 764.78 crore in the quarter ended March 2022 as against Rs 746.04 crore during the previous quarter ended March 2021.

For the full year,net profit reported to Rs 140.82 crore in the year ended March 2022 as against net loss of Rs 53.35 crore during the previous year ended March 2021. Sales rose 40.99% to Rs 3183.95 crore in the year ended March 2022 as against Rs 2258.32 crore during the previous year ended March 2021.

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