In order to broaden its home textile manufacturing portfolio, Himatsingka has commenced construction work on its new terry towel facility that will be equipped with an installed capacity of 25,000 TPA. The new plant is scheduled to be commissioned in the first half of 2020.
Himatsingka has been busy with various consolidation and growth initiatives across its businesses. Seamless integration from fibre to shelf continues to be an integral part of its business model and helps it build and sustain a competitive advantage across the product categories it operates in.
Himatsingka augmented its sheeting capacity by completing its brownfield sheeting expansion in FY 2017. Subsequently, the company commissioned commercial production of the world’s largest spinning plant under one roof with an installed capacity of 2,11,584 spindles. This project enhances its integration quotient and relatively de-risks its model from volatile raw material price fluctuations.
Himatsingka now operates amongst the world’s largest integrated sheeting plants and the world’s largest cotton spinning plant under one roof. Both these facilities are state-of-the-art and will help drive financial and operating performance going forward.
Himatsingka FY18 revenues stood at Rs. 2,266.68 crores. Revenues from brands grew from Rs. 1,100 crores in 2016-17 to Rs. 1,610 crores in 2017-18.
Mr. Shrikant Himatsingka, Managing Director & Group CEO said: “We remain focused on sweating manufacturing capacities, commissioning the new Terry Towel facility on schedule and enhancing market share across product categories and geographies we operate in.”
Himatsingka has informed that the integration of its recently acquired brand licenses is progressing well resulting in increase in revenues. The company’s manufacturing integration is still underway and is expected to continue through the end of FY19. The operating progress of the new Spinning Unit has been satisfactory and the performance parameters are now aligned with the company’s expectations. The construction of Himatsingka’s Greenfield Terry Towel facility is progressing as per schedule and the plant is expected to come on stream during H1 FY20. The facility will have an installed capacity of 25,000 Tonnes per Annum (TPA). The utilization levels at its Sheeting facility remained stable. Revenue contribution from brands continued its upward trend.
Himatsingka has one of the largest installed capacities globally for producing bedding products, bath products, drapery & upholstery fabrics and ultra-fine count cotton yarn. It is focused on building world-class facilities that have global scale, driven to create next generation shop floors that epitomise digital solutions and automation. Enhancing its digital quotient via production automation, intensive data analytics and developing cutting-edge applications will be key to monitoring and driving efficiencies.