Shrikant Himatsingka, ED, Himatsingka Seide is confident of the company's consistent strong organic growth in both private label and branded portfolio.
With Himatsingka Seide 's overall branded revenues in North American market standing at Rs 600 crore for FY14, the company's ED Shrikant Himatsingka is confident of consistent strong organic growth in both private label and branded portfolio.
In an interview with CNBC-TV18's Sonia Shenoy and Reema Tendulkar, he discusses the road ahead for his US business.
Below is the edited transcript of the interview:
Q: Brokerages are quite bullish on the prospect of your US business. Could you walk us through what you are expecting by way of revenue growth over there?
A: We grew our North America distribution revenues by approximately 16 percent during FY14 and it stood at a little over Rs 1600 crore for the financial year ended 2014. So, we expect to see continued strong organic growth that we are witnessing in those markets. We also operate a strong clutch of brand in that market including brands like Calvin Klein Home, Barbara Berry amongst other brands so our branded portfolio performance in North America has also come fairly strong for the year. Overall branded revenues for the group stood at over Rs 1600 crore for FY14 and we expect to see growth on that front as well.
Q: From the US business particularly what is the outlook like? Only in FY15 what kind of revenues are you looking at?
A: I cannot comment on guidance on revenues but we have seen strong organic growth rate in FY14 and we are very focused to continue to see growth rates in that region for FY15 and as I mentioned both private label and branded portfolio are witnessing this kind of growth.
Himatsingka Sei stock price
On June 18, 2014, Himatsingka Seide closed at Rs 72.05, down Rs 1.7, or 2.31 percent. The 52-week high of the share was Rs 78.00 and the 52-week low was Rs 25.90.
The company's trailing 12-month (TTM) EPS was at Rs 5.98 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 12.05. The latest book value of the company is Rs 62.03 per share. At current value, the price-to-book value of the company is 1.16.
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