February 10, 2025
Financial Results

Siyaram Reports Strong Q3 FY25 Results With Expansion Plans

Siyaram Silk Mills Ltd., one of India’s leading producers of blended high-fashion fabrics, garments, and apparel, has announced its financial results for the third quarter (Q3) and the nine months ending December 31, 2024. The company reported strong performance in Q3 FY25, highlighting both revenue growth and ongoing expansion plans that signal a promising future.

In Q3 FY25, the company achieved a total income of Rs 586 crores, marking a significant 14.3% year-on-year growth compared to Rs 513 crores in Q3 FY24. This robust growth was complemented by an EBITDA of Rs 83 crores, which rose by 4.1% compared to Rs 80 crores in the same quarter last year.

However, the EBITDA margin slightly declined to 14.1% from 15.5% in Q3 FY24. Profit After Tax (PAT) for the quarter stood at Rs 46 crores, reflecting a 3.6% increase, with a PAT margin of 7.8% compared to 8.6% in the previous year. For the nine months of FY25, the company recorded a total income of Rs 1,546 crores, representing a 5% increase year-on-year.

As part of its growth strategy, Siyaram announced its plans to open 30 new retail stores, focusing on Tier I and Tier II cities across India. The company expects 20 of these stores to become operational by March 2025, with the remaining set to launch by Q1 FY26.

The expansion is in line with the launch of two new brands: ZECODE, which targets urban shoppers with trendy and affordable fast fashion, and DEVO, a brand dedicated to celebrating India’s cultural heritage through a diverse range of ethnic clothing.

The company also declared a second interim dividend of Rs 3 per equity share for the financial year 2024-25, underlining its commitment to rewarding shareholders.

Commenting on the performance, Gaurav Poddar, President and Executive Director of Siyaram Silk Mills, noted that the festive season in Q3 initially boosted consumer sentiment, leading to increased spending. However, persistent inflation moderated demand in the latter part of the quarter. Despite this, the company remains optimistic as inflation shows signs of cooling, offering a favorable market outlook for the remainder of FY25.

He further emphasized that Siyaram’s financial performance reflects resilience, with a strong revenue mix consisting of 83% from fabrics, 12% from garments, and 5% from yarn and other segments.

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