Textiles firm Siyaram Silk Mills announced Q1FY23 Result : Revenue up by 69% led by overall performance Net Debt Rs 2680 mn EBIDTA up by 60% Fabric NSR up 27% & Garment NSR up 29% YoY EPST at Rs 6.6 for Q1FY23 Garment volumes up by 28% PAT up by 140% Revenue for Q1FY23 was higher by 69% YoY. It was led by both Fabrics and Garment. Fabrics constituted 76%, followed by Garments constituting 14% of Total Revenue. EBITDA for Q1FY23 increased by 60% YoY, higher Raw material costs marginally impacted margins for Q1FY23. EBITDA margins softened by 83bps YoY to 14.6% in Q1FY23. Interest continued its downward trend and further reduced by 25% YoY. PAT increased by 140% YoY. Fabrics Revenue was up 64% YoY, Garment Revenue up by 68% YoY Fabrics Volume was higher 30% YoY, Garment volume was higher 28% YoY Realisations for Fabrics were higher 27% YoY, Garment realisations were higher 29% YoY Result PDF
Textiles firm Siyaram Silk Mills declares Q4FY22 result: Revenue grows 75% , EBITDA 287% and PAT 50x YoY Revenue for the Q4FY22 was higher by 24% YoY and 75% YoY for FY22. An all-round performance among fabric and apparel business led to this strong revenue growth EBITDA for Q4FY22 was higher 36% YoY and 287% for FY22. Efficient marketing strategy and positioning helped in margin expansion. PAT for FY22 increased by more than 50x backed by overall improvement in the operating matrix. Fabric Business overview: Fabric Business revenue reported an increase of 73% YoY to INR 1554 cr in FY22. Share of Fabrics in total revenue is 81 % in FY22. Fabric business witnessed a robust growth of 73% YoY; Higher pent up demand led by strong demand revival in Tier 2& 3 cities has led to such growth. The Company has sold 10.14 cr metres during FY22 ; a growth of 54.5% over FY21. The company’s brands in its fabric business are Siyaram, J Hampstead and CADINI The company has been consistently customer-centric and has been careering its fabric designs to meet ever evolving fashion trends. Commenting on financial results, Mr Ramesh Poddar Chairman & Managing Director, Siyaram Silk Mills said, “The financial performance for FY22 has been quite encouraging. Post easing of Covid restrictions, the company has been able to report a strong recovery in the growth. On the Fabric front, both Trade and Retail have witnessed an encouraging trend led by higher secondary sales as well as strong retail footfalls in MBO’s. Its continued focus on Tier II & III cities, and its positioning among aspiring Indians have made the brand more reachable and acceptable among the masses .Company’s revamping of its marketing strategy has helped in improving profitability. Along with profitability, it has also led to stability in Revenue. Overall, medium to long-term growth opportunities are encouraging and we expect demand to remain buoyant going ahead”. Result PDF