Himatsingka Seide Ltd

NCD Allotment Details

• Allotted 34,000 Series 1 Tranche 1 NCDs at par, aggregating Rs 34 crore.
• Includes Green Shoe option for 4,000 NCDs; listed with BSE.
• Tenor 42 months from deemed allotment; maturity 30 March 2030.
• Date of allotment: 30 September 2026.
• Coupon 11.50% p.a.; payable quarterly.
• Principal repayable in three instalments at 30, 36, and 42 months.
• Security: Unsecured.
• Listed on BSE Limited.
• Authorization to issue un-issued portion of Series E NCDs withdrawn.

Senior Management Personnel changes

• Akanksha Himatsingka resigns as SMP; effective Sept 30, 2026; personal reasons.
• Debasmita Gupta resigns as SMP; effective Sept 30, 2026; no other material reasons.
• Elevated and appointed as SMP effective Sept 30, 2026; NIFT PG Diploma holder; 28+ years' experience.
• Elevated as SMP effective Sept 30, 2026; MSc in Management and BTech in Textile Tech; 37 years’ experience.
• Brian Delp ceases as SMP; effective Sept 30, 2026; due to reporting structure change.

CEO resignation – Home Textile Solutions

• Akanksha Himatsingka resigns as CEO - Home Textile Solutions; relief by Sept 30, 2026; personal reasons.

Group General Counsel / SVP Legal resignation

• Debasmita Gupta resigns as SVP Legal - Group General Counsel; relieved by Sept 30, 2026; no material reasons.

Himatsingka Seide Limited – Trading window closure from October 01, 2026 until further intimation for the quarter and half year ended September 30, 2026

AGM Details

• 41st AGM held on 24 September 2026 via VC/OAVM.
• Eligible voting cut-off date: 17 September 2026.
• Remote e-voting period: 20–23 September 2026; Instapoll during AGM.
• Notice dispatched electronically on 1 September 2026.
• All resolutions passed by requisite majority.

Key Resolutions

• Resolution 1 (Ordinary): Adopt standalone financial statements for FY2026.
• Resolution 2 (Ordinary): Adopt consolidated financial statements for FY2026.
• Resolution 3 (Ordinary): Declare final dividend of ₹0.25 per equity share.
• Resolution 4 (Special): Re-appoint Mr. Dinesh Kumar Himatsingka, retiring by rotation.

Voting Results

• Resolution 1: Passed with 99.9517% in favour; 0.0065% against.
• Resolution 2: Passed with 99.9517% in favour; 0.0065% against.
• Resolution 3: Passed with 99.9899% in favour; 0.0065% against.
• Resolution 4: Passed with 99.4908% in favour; 0.5049% against.

Dividend Details

• Final dividend of ₹0.25 per share approved (5% of ₹5 face value).

Director Changes

• Re-appointment of Mr. Dinesh Kumar Himatsingka, retiring by rotation.

AGM Details

• AGM held on Sep 24, 2026 at 12:10 p.m. via VC/OAVM.
• Quorum of 41 members attended via VC/OAVM.
• Remote e-voting window was Sep 20, 2026 9:00 a.m. to Sep 23, 2026 5:00 p.m.
• Scrutinizer appointed: Vinod Sunder Raman for remote e-voting.
• Meeting duration: concluded at 1:06 p.m.

Key Resolutions

• Adoption of audited standalone financial statements for FY ended March 31, 2026.
• Adoption of audited consolidated financial statements for FY ended March 31, 2026.
• Declaration of final dividend of Rs 0.25 per equity share.
• Special resolution: Reappointment of Executive Chairman on retirement by rotation.

Voting Results

• Results to be announced within two working days; Scrutinizer's report to be posted on company and KFin websites.

Dividend

• Final dividend of Rs 0.25 per share declared.

Director Changes

• Executive Chairman Dinesh Kumar Himatsingka reappointed by rotation.

Financials

• Consolidated revenue ₹272,723.94 L in FY26, down 4% YoY.
• EBITDA ₹57,667 L; margin around 21%.
• PAT ₹6,196 L; YoY decline from ₹7,604 L.
• EPS Basic ₹4.93; EPS Diluted ₹4.93.
• Final dividend ₹0.25 per share; aggregate ₹₹314.36 L if approved.
• Net debt ₹2,57,923 L; net debt/ equity 1.20x.
• Cash from operations ₹20,413 L; financing outflow ₹22,226 L.
• Total assets ₹5,90,083.94 L; total equity ₹2,14,073.59 L.

Strategy & Growth

• Added Yarn Solutions, Fabric Solutions, and Apparel Solutions verticals in FY26.
• Aiming to become Total Textile Solutions Major via multi-category, integrated platforms.
• Manufacturing footprint: four plants in Karnataka; global reach to 42 countries.
• Focus on capacity utilization and expanding markets to de-risk revenue mix.

Capital & Capital Structure

• Authorized share capital raised to ₹1,100 Cr (₹11,000 Lakh).
• Issued 12.57 Cr equity shares; QIP raised ₹40 Cr in 2024-25.
• Final dividend 0.25 per share proposed for FY26.
• QIP proceeds used partly to repay borrowings; leverage profile maintained.

ESG & Sustainability

• Carbon neutral by 2035; 100% renewable energy by 2027; ZLD water across facilities.
• Water recovery at ZLD facilities: 99.3%.
• CSR spend ₹132.79 L in FY26; focus on skill development, education, and health.
• ESG integrated into operating philosophy and governance.

Governance & Oversight

• Board of 6 directors; 2 promoter-exec, 3 independent, 1 NED.
• Statutory auditor: MSKA & Associates LLP; internal auditor: Grant Thornton Bharat.
• Secretarial auditor: Vivek Manjunath Bhat; compliance under SEBI LODR.
• No changes in Board during FY26; independent directors’ evaluation conducted.

Risks & Outlook

• US tariff volatility; tariff reset in Feb 2026 improved visibility.
• Tariffs, freight volatility, and currency movements remain key near-term risks.
• China+1 sourcing trend; India-UK/EU FTAs open larger export opportunities.

Operations & Geography

• Geographic revenue: North America ₹1,68,060 L; India & AP ₹28,189 L; Europe ₹33,859 L; Rest ₹3,622 L.
• Operations span 42 countries with four plants in Karnataka and broader client network.

Shareholder Returns & Dividends

• Dividend policy: final ₹0.25 per share for FY26, subject to AGM approval.
• Consolidated EPS of ₹4.93 reinforces value delivery to shareholders.

Financial performance

• Consolidated revenue ₹272.72 Cr (FY26), down 4% YoY.
• Consolidated EBITDA ₹57.67 Cr; margin 23%.
• Consolidated PAT ₹61.96 Cr; net margin reported 2.3%.
• Standalone revenue ₹207.78 Cr; EBITDA ₹49.79 Cr; PAT ₹60.13 Cr.
• Standalone EPS ₹4.78; consolidated EPS ₹4.93.
• Final dividend ₹0.25 per share; record date 18 Sep 2026.
• Authorized share capital increased to ₹1,100 Cr during FY26.
• QIP proceeds ₹40 Cr utilised to repay borrowings and for corporate purposes.
• Post-year: NCD issuance up to ₹600 Cr with ₹250 Cr green shoe option.

Strategy & growth

• Path to Total Textile Solutions with four verticals: Home, Yarn, Fabric, Apparel.
• Expanded capacity to sustain global-scale textile production.
• Fully extending digitized manufacturing platforms across facilities.
• Entering new product adjacencies to diversify revenue: Yarn, Fabric, Apparel.
• India focus: scale private-labels and B2C brands; target ₹1,000 Cr India revenue.
• Geographic diversification to de-risk revenue streams and reduce USA dependence.

Capital structure & dividends

• Authorized share capital rose to ₹1,100 Cr from ₹75 Cr.
• QIP (2024) raised ₹40 Cr; utilised for debt repayment and corporate needs.
• Private placement: Series C and D NCDs totaling ₹145.25 Cr (FY25-26).
• Net borrowings rose to ₹2,61,928 L; net debt to equity 1.20x.
• CRISIL ratings reaffirmed: BBB+/Stable (Sept 2025); negative outlook (July 2026).
• Post-year: new NCD program up to ₹600 Cr with green shoe up to ₹250 Cr.

Geography & customers

• Geographic mix reflects North America as major revenue contributor; others include India/Asia, Europe/ME&A, Rest of World.
• Revenue from top customers: 42.49% from customer 1 (subsidiary), 14.65% from customer 2, 10.48% from customer 3.

ESG & CSR

• ESG: Carbon neutral by 2035; 100% renewable energy by 2027; ZLD water across facilities.
• Water recovery at ZLD facilities: 99.3%.
• CSR spend ₹132.79 L; focus on health, education, community development, skill development.
• CSR trainees: government schemes including NAPS and SAMARTH; thousands trained/certified.
• CRISIL credit ratings reaffirmed; governance and sustainability investments ongoing.

Governance & risk

• Board: 6 directors; 2 promoter Exec, 3 independent, 1 Nominated Director.
• Audit Committee: 3 independent Directors plus CEO; chaired by Harminder Sahni.
• Secretarial audit: no adverse remarks; robust governance framework.
• Management responsiveness to ESG and risk management; ongoing risk monitoring.

Post-year events & outlook

• US tariff developments; February 2026 tariff reset; FTAs with UK/EU advancing opportunities.
• India-UK CETA and India-EU FTA improvements expected to lift exports sector.
• Cotton duty relief in 2026 narrowing raw material cost gaps.
• NCD and debt-management actions planned to support growth; focus on capital efficiency.