Himatsingka Seide reports 47% Y-o-Y decline in net profit in Q1, FY26

Himatsingka Seide reported a 47 per cent Y-o-Y decline in net profit to Rs 10.90 crore in Q1, FY26. The company’s consolidated net revenue also declined by 10.4 per cent Y-o-Y to Rs 661.03 crore during the quarter. The company attributed this decline to global trade uncertainty and proposed additional 25 per cent tariffs from the US. The EBITDA for the quarter declined to Rs 124.75 crore as against Rs 148.90 crore in the same quarter last year.. Despite these challenges, the company’s net debt decreased slightly from Rs 2,425 crore to Rs 2,405 crore.

In terms of operations, capacity utilization in the spinning division remained strong at 99 per cent. Shrikant Himatsingka, Executive Vice Chairman and Managing Director, says, the results were impacted the US tariffs. While the recent India-UK Free Trade Agreement presents exciting opportunities, the company must remain focused on boosting capacity utilization and expanding market share, he emphasizes.  Himatsingka Seide plans to capitalize on the UK market while also continuing to grow its presence in the Indian market with brands like Himeya, Atmosphere, and Liv.