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Swing Capital

Himatsingka Seide Ltd

NSE: HIMATSEIDE BSE: 514043Textile

Himatsingka Seide Ltd. is a vertically integrated global textile major that designs, develops, manufactures and distributes a suite of home textile products. It has installed capacities for manufacturing bedding and bath products, drapery and upholstery fabrics, and fine-count cotton yarn which are among the largest in the world.[1]

₹74.5
52W: ₹71.9 — ₹169
PE 6.34 · Book ₹186 · -60% vs book
Market Cap₹936 Cr
Stock P/E6.34Price to Earnings
ROCE7.53%Return on Capital
ROE7.17%Return on Equity
Div. Yield0.33%Face Value ₹5

Strengths

  • +Stock is trading at 0.40 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 6.76% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 4.02% over last 3 years.
  • −Dividend payout has been low at 1.43% of profits over last 3 years
  • −Company has high debtors of 297 days.
  • −Promoter holding has decreased over last 3 years: -10.1%
  • −Working capital days have increased from 44.0 days to 102 days

Shareholding Pattern

Promoters37.48%
FIIs11.1%
DIIs5.65%
Public45.77%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters47.57%47.57%37.24%▼10.337.24%37.48%▲0.237.48%37.48%37.48%
FIIs3.75%3.32%▼0.412.06%▲8.710.82%▼1.210.71%▼0.110.8%▲0.110.69%▼0.111.1%▲0.4
DIIs0.99%0.41%▼0.68.36%▲7.98.53%▲0.27.68%▼0.87.12%▼0.67.12%5.65%▼1.5
Public47.7%48.69%▲1.042.34%▼6.343.41%▲1.144.13%▲0.744.59%▲0.544.7%▲0.145.77%▲1.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales639.94646.77632.25615.81568.09519.99516.61503.84479.24472.08
Expenses525.33513.45509.76492.68462.8432.89410.23404.66390.13390.76
Operating Profit114.61133.32122.49123.13105.2987.1106.3899.1889.1181.32
OPM %17.91%20.61%19.37%19.99%18.53%16.75%20.59%19.68%18.59%17.23%
Net Profit30.2130.8924.3120.313.2117.6895.495.7539.86.56
EPS ₹3.073.142.472.061.341.417.590.463.170.52

AI Insights

Revenue Trend

TTM revenue at ₹1,972Cr, down 11.2% YoY. OPM at 19%.

Debt Position

Borrowings at ₹2,561Cr. Debt-to-equity ratio: 1.12x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹17Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.65% (+3.23pp change). FIIs: 11.1% (+8.41pp change). Promoters hold 37.48%.

Margin & Efficiency

ROCE declining from 10% (Mar 2014) to 8% (Mar 2025). Working capital days: 102.

Valuation

PE 6.34x with 7.53% ROCE. Price is -60% above book value of ₹186. Dividend yield: 0.33%.

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