Nov 10, 2010, 04.52 PM | Source: CNBC-TV18
Himatsingka Seide rallies as the company targets Rs 2500 crore in revenues over the next four years. Here is an excerpt from an interview with Srikanth Himatsingka.
Himatsingka: For this Financial Year we estimate our consolidated revenues to be in the region of Rs 1150 crore to Rs 1200 crore and over the next four years we are looking to grow our revenue streams to approximately Rs 2500 crore. The main driver of this growth will be enhancing our India presence. Presently, our atmosphere brand in India operates 14 stores and our expansion for India really entails taking our luxury brand atmosphere to approximately 25 Ė 30 stores and in addition to launching mid priced brand which will have a presence of about 120 stores across the country. So in total about 150 stores is what we envisage to launch over the next 4 years which will give us revenues of Rs 650 crore to Rs 700 crore coming in from this geography. So this is going to play a large role in the Rs 2500 crore revenue number that we are looking at four years down the line.
Q: So over the next four 4 years the remaining Rs 1800 crores will still coming in through the overseas businesses, right? What kind of expansion plan both organic and inorganic do you have for overseas?
A: Like I said we presently do approximately Rs 1150 crore to Rs 1200 crore.
Q: Over the next 4 years?
A: Rs 1150 crore to Rs 1200 crore in consolidated revenues and we are looking to go to Rs 2500 crore of which Rs 700 crore in that region will come in from our expansion to India. The rest of the growth will come from our organic growth across North America, South America, the European regions where we have a significant presence today and we look to grow organically over the years.
Q: What kind of capacity expansion plans do you have both for India and overseas?
A: We have just set up a 21 million meter per annum capacity in house a couple of years ago. At this point we donít foresee any capacity expansion in that facility. We feel that from our capacities stand point we are well equipped to address the needs. Of course over the next couple of years we feel the need to further expand capacity. We will take a call at that time.
Q: Also, the Board is meeting on the 11th to discuss the possibility of raising some funds. Could you take us through what kind of fund raising is going to happen? What is the number you are looking at and how soon would this happen?
A: All I can say at this point is the Board will meet to consider the various options it has to raise funds up to Rs 150 crore and post the board meeting we will know as to which route we are really taking to raise funds.