Harita Seating

TVS Group’s Harita Seating Systems is a domestic market leader providing complete seating solutions for the auto industry. It makes both driver and cabin seating for LCV, M&HCV, tractors, construction equipments, off-road vehicles as well as passenger seats for city and inter-city buses.

The company posted robust standalone Q2 FY17 numbers. On 4% QoQ rise in income to Rs.93 crore, net profit jumped 35% QoQ to Rs. 4.62 crore, as EBITDA margin strengthened to 7.8% (7.5% QoQ), which resulted in higher Q2 EPS of Rs.5.95, as against Q1 FY17 EPS of Rs. 4.42.

For H1FY17, company’s standalone topline stood at Rs. 181 crore, while EBITDA came in at Rs. 14 crore. Net profit of Rs. 8 crore has been clocked for the first half, which translates into EPS of Rs. 10.37 for H1. Total debt is less than Rs. 2 crore, all short-term, while cash and equivalents are over Rs.22 crore.