Himatsingka Seide revised its Non-Convertible Debentures (NCD) issue aggregating Rs 550 crore on June 29, 2026, following a review by its Securities Committee. The revision modifies the previously approved proposal for Series 1 Listed NCDs, which was intimated on May 27, 2026. The new structure introduces Series D and Series E NCDs alongside the listed Series 1, offering a mix of rated and unrated instruments with varying tenures and listing status. The filing was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, and read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The Securities Committee met on June 29, 2026, from 4:10 p.m. to 4:50 p.m. to finalize the revised terms. All NCDs are denominated in INR, redeemable, taxable, and issued on a private placement basis in one or more tranches.

Revised Issue Structure

The revised issue is divided into three series, combining unrated and rated instruments across listed and unlisted categories. The following table summarizes the key parameters of each series:

Key Terms and Security

Series D NCDs carry a coupon rate of 11.50% per annum, payable quarterly, with a tenure of 42 months from the deemed date of allotment. The principal will be repaid in three installments at the end of 30 months, 36 months, and 42 months respectively. The tenures and coupon rates for Series E and Series 1 NCDs were not specified in the filing.

The securities are backed by a first pari passu charge on entire movable and immovable fixed assets at the Hassan and Doddaballapur plants, providing a 1.75x cover based on fair market value. Additional security includes a first ranking pari passu charge by way of mortgage over mortgaged properties, a negative lien over 4.85 acres of land in Hassan, and an exclusive charge over the Subscription Escrow Account.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE049A01027/41082ffcc2a6492a.pdf

Himatsingka Seide has released the transcript of its earnings call for analysts and investors held on Friday, May 29, 2026. The company reported a consolidated total income of ₹721 crores for Q4FY26, a 5.8% increase compared to ₹681 crores in the same period last year. The disclosure was made under Part A of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

During the call, Mr. Shrikant Himatsingka, Executive Vice Chairman and Managing Director, noted that fiscal 2026 faced volatility due to U.S. tariff policies and geopolitical uncertainties, including the impact of the Middle East conflict on supply chains and outbound shipments. The company expects these overhangs to continue affecting shipments to certain jurisdictions in Q1 FY27. Capacity utilization levels for the quarter stood at 99% for spinning, 56% for sheeting, and 63% for the Terry Towel division.

Strategic Diversification and Financials

Management outlined a strategic transition to diversify its revenue mix beyond home textiles into yarn, fabric, and apparel solutions. These initiatives, leveraging existing infrastructure, are expected to materialize starting H2 FY27. The company aims to reduce concentration risk and address larger market pools. Mr. Himatsingka stated that home textiles would eventually constitute approximately half of the portfolio, with the new verticals comprising the balance, while maintaining an EBITDA margin profile of 18% to 22%.

Key Financial and Operational Metrics

The Board approved raising up to ₹850 crores through the issuance of senior secured redeemable non-convertible debentures on a private placement basis to balance debt tenors. The company targets reducing its net debt from approximately ₹2,550 crores to ₹2,000 crores within the next 12 months. The dividend for FY26 remains ₹0.25 per equity share with a trade-off value of ₹5 per equity share.