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Himatsingka Seide Ltd.

BSE: 514043 Sector: Industrials
NSE: HIMATSEIDE ISIN Code: INE049A01027
BSE LIVE 15:48 | 13 Dec 355.85 1.00
(0.28%)
OPEN

352.80

HIGH

363.55

LOW

347.85

NSE 15:59 | 13 Dec 357.00 1.00
(0.28%)
OPEN

354.00

HIGH

364.80

LOW

349.00

OPEN 352.80
PREVIOUS CLOSE 354.85
VOLUME 13586
52-Week high 400.00
52-Week low 266.70
P/E 18.48
Mkt Cap.(Rs cr) 3,504
Buy Price 355.85
Buy Qty 411.00
Sell Price 0.00
Sell Qty 0.00
OPEN 352.80
CLOSE 354.85
VOLUME 13586
52-Week high 400.00
52-Week low 266.70
P/E 18.48
Mkt Cap.(Rs cr) 3,504
Buy Price 355.85
Buy Qty 411.00
Sell Price 0.00
Sell Qty 0.00

Himatsingka Seide Ltd. (HIMATSEIDE) - Company History

Himatsingka Seide Ltd is an India-based company, which is engaged in the manufacture of textiles consisting of fabric and yarn. Their products include silk/blended fabrics, spun silk/blended yarn, bed linen fabric and bed linen sets. The company products are offered across Germany, France, England, Italy, South America, Australia and USA. The company operates through their spinning and weaving divisions. Himatsingka Filati, the spinning division, was established in technical collaboration with Filati Buratti of Italy, which produces a wide range of regular and fancy 100% silk and silk blended yarns and the weaving division offers yarn dyed decorative, bridal and fashion fabrics. The entire operation of winding, doubling, twisting, dyeing, weaving and finishing is integrated under one roof. Himatsingka Seide Ltd was incorporated in the year 1985 and was promoted by Ajoy Kumar Himatsingka and Dinesh Himatsingka. In March 1993, the company came out with a rights issue at a premium to part-finance their expansion and to augment funds for meeting long-term working capital requirements. During the year 1997-98, the company successfully implemented 600,000 square meters of weaving capacity at a cost of Rs 20.20 crore. Also, the company set up 2 units of 2.2 MW each captive power plant at a cost of Rs 6.61 crore. During the year 2000-01, the company added 12 rapier looms, which further augmenting capacity by 400000 meter. During the year 2002-03, the company acquired ABC Trading Pct Ltd for a total consideration of Rs 5.75 crore. Thus ABC Trading Pvt Ltd became a wholly owned subsidiary of the company and the name of the ABC Trading Pvt Ltd has been changed to Himatsingka Wovens Pvt Ltd. The company used the Himatsingka Wovens Pvt Ltd as their vehicle for the retail venture. During the year 2003-04, the company forayed into domestic retailing & launched 'atmosphere', India 's first luxury home furnishing brand. The first showroom was opened at Bangalore in September 2003 and three more showrooms at Mumbai, Chennai and Delhi between October 2003 and March 2004. Within a short period of time, ATMOSPHERE has established itself as a premier home furnishing brand in India. In April 2004, the company incorporated a wholly owned subsidiary, Himatsingka America Inc., in New York to strengthen their distribution network in USA and from July 2004, the subsidiary company commenced their operation. During the year 2004-05, the company added six more showrooms taking the total number to ten. In February 2007, the company acquired 70% stake in Giuseppe Bellora SpA, Italy for the consideration of EUR 11.51 million (Rs 68.76 crore). This marks the first step towards global integration for the company. Also, they launched their first international store in Dubai, UAE. In May 2007, the company set up a wholly owned subsidiary company Himatsingka Singapore Pte Ltd, which launched a store in Singapore during October 2007. In June 2007, the company through their wholly owned subsidiary, Himatsingka America Inc acquired 80% in Divatex Home Fashions Inc., New York and in October 2007, they completed the acquisition of a 100% stake in DWI Holdings Inc, USA, through their wholly owned subsidiary, Himatsingka America Inc. Himatsingka Wovens Pvt Ltd, the wholly owned subsidiary, commissioned a made ups unit at Apparel Park in Bangalore. In October 2007, the company commissioned their new bed linen manufacturing facility with an annual installed capacity of 20 million meters located at Hassan Special Economic Zone in Karnataka. The company received the 'Largest Silk Exporter' award from the Indian Silk Export Promotion Council for the fourteenth consecutive year. The company is setting up a captive 12.5 MW coal based co-generation power plant at Hassan SEZ, which is expected to be commissioned by August 2009.