Himatsingka’s consolidated revenues stood at Rs. 2,138 crores, a growth of 13.1 per cent. The company has completed expansion of sheeting plant and commenced commercial production of the expanded capacity during October 2016. The capacity of sheeting plant was enhanced from 22 MMPA to 46 MMPA.

Himatsingka also commenced construction of its spinning facility at Hassan which is due to commence production in the Q3 of FY2018. The new spinning facility with an installed capacity of 211,584 spindles is part of the backward integration initiatives of the company. It will cater to 50 per cent of Himatsingka’s captive requirement.

The company is also setting up a terry towel plant with a capacity of 25,000 tpa. Construction of the plant will begin in the current financial year. The total investment outlay for all expansion projects is Rs. 1,300 crores.

Commenting on their performance, Shrikant Himatsingka, Managing Director and CEO, says the company had a stable quarter, and they look forward to a year of growth in the backdrop of our ongoing expansion on the manufacturing front.

The Rs 3,000 crores Himatsingka is a vertically integrated home textile major with a global footprint. It focuses on manufacturing, retail and distribution of home textile products. On manufacturing front, the group operates the largest capacities in the world for upholstery fabrics, drapery fabrics and bed linen products.

Spread across Asia, Europe and North America, the group continues to expand its reach and build capacities in the home textile space. The company’s brand portfolio globally is expected to touch revenues of about Rs. 1,200 crores for FY 2018.