Siyaram Silk Mills Ltd. News and Updates

Name: Latest research reports of Siyaram Silk Mills Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Siyaram Silk Mills Ltd.
Rating: 5
Author: ICICI Securities Limited

Keep track of all breaking news on Siyaram Silk Mills Ltd. from all sources in a single place.

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Siyaram Silk Mills Ltd.

11 Aug 2021, 03:33PM

693.80

4.07%

Siyaram Silk Consolidated June 2021 Net Sales at Rs 233.14 crore, up 464.5% Y-o-Y

Moneycontrol

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Siyaram Silk Mills Ltd. is trading below its 100 day SMA of 780.4

Siyaram Silk Mills Ltd.

28 May 2021

693.80

4.07%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

In FY21, Siyaram re-engineered its cost structure with significant rationalisation of overheads including marketing spends. Operating overheads declined 42% YoY in FY21. The management expects 25% of cost savings to be sustainable in nature, going forward. Gross margins (including processing charges) deteriorated by ~820 bps YoY to 35% mainly on account of higher liquidation discounts and schemes given to dealers and distributors. We expect gross margins to revert to normalised levels in FY22E. With a complete washout in Q1 (87% revenue decline), Siyaram...

Siyaram Silk Mills Ltd. has gained 46.74% in the last 1 Year

Siyaram Silk Mills Ltd.

03 Feb 2021

693.80

4.07%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

The demand for fabrics is gradually inching towards normalisation levels and given Siyaram's strong brand patronage and distribution network (which mainly encompasses Tier II/III cities), it is well placed to capture market share opportunities in the segment. The garmenting division (15% of sales) on the other hand, is still not out of the woods as inventory in trade channels appears to be on the higher side. This led to lower flow of new orders from dealers/distributors. For YTDFY21, revenue declined 52% YoY to | 597 crore. The company has re-engineered its cost structure with...

Siyaram Silk Mills Ltd. has gained 46.74% in the last 1 Year

Siyaram Silk Mills Ltd.

09 Nov 2020

693.80

4.07%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

Given the weak demand scenario for fabric and apparel categories in domestic markets and excess inventory in trade channels, Siyaram (SSML) reported revenue decline of 64.4% YoY to | 173.6 crore (up 3.2x QoQ). However, the recovery rate trajectory has been on an upward trend MoM. Green shoots are visible for the fabric division (~80% of revenues), wherein recovery rate in September reached 60-70% of pre-Covid levels. Garmenting segment continued to be a laggard with recovery rate reaching 30-40% in September. Gross margins (including processing charges)...

Siyaram Silk Mills Ltd.'s price crossed above 50Day SMA today

Siyaram Silk Mills Ltd.

01 Jul 2020

693.80

4.07%

Buy Siyaram Silk Mills; target of Rs 160: ICICI Direct

Moneycontrol

ICICI Direct is bullish on Siyaram Silk Mills recommended buy rating on the stock with a target price of Rs 160 in its research report dated June 30, 2020.

Number of FII/FPI investors increased from 56 to 68 in Mar 2025 qtr.

Siyaram Silk Mills Ltd.

30 Jun 2020

693.80

4.07%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Recommendation Target

ICICI Securities Limited

Tepid consumption demand across product categories and a challenging Q4FY20 led to overall topline de-growth of 6.4% YoY to | 1699.3 crore in FY20. On the segmental front, fabrics division (~74% of revenues) de-grew 4% YoY whereas garmenting segment (~20% of revenues) saw revenue degrowth of 14% YoY to | 350.0 crore. Higher competitive intensity and subsequent lower realisation weighed on the performance of garmenting segment. As on date, trading channels are stuck with excess inventory. Hence, primary sales are expected to pick up only when the cash cycle starts to improve. On the profitability front, price cuts and higher trade discounts...

Siyaram Silk Mills Ltd. is trading below its 100 day SMA of 780.4

Siyaram Silk Mills Ltd.

20 May 2020

693.80

4.07%

Coronavirus impact: Siyarams to launch anti-viral fabric in market soon

Moneycontrol

Siyaram's is also planning to expand its online business which is currently at 10 percent.

Siyaram Silk Mills Ltd. has lost -21.31% in the last 3 Months

Siyaram Silk Mills Ltd.

29 Jan 2020

693.80

4.07%

Siyaram Silk Mills Limited

Hold: Siyaram Silk Mills Ltd.

Recommendation Target

ICICI Securities Limited

Given the subdued market conditions, the working capital cycle may witness certain deterioration owing to higher inventory days. However, SSML continues to focus on stringent control on cash conversion cycles through better management of receivable days. Also, with no major capex plans in the near term, debt is expected to remain at levels similar to FY19 for the current fiscal. We roll over our estimates to FY22E and build in revenue and earnings CAGR of 4.2%, 10.4% YoY, respectively, in FY19-22E. We expect revenue growth to remain under pressure owing to challenging market...

Siyaram Silk Mills Ltd. is trading below its 100 day SMA of 780.4

Siyaram Silk Mills Ltd.

22 Oct 2019

693.80

4.07%

Siyaram Silk Mills Ltd

Siyaram Silk Mills Ltd.

Angel Broking

For 2QFY2020, Siyaram Silk Mills (SSML) posted results in-line with our expectations on both top-line and bottom-line fronts. Revenue grew ~6% yoy. On the margin front, the companys operating margin contracted by 217bps yoy. On the bottom-line front, SSML reported PAT growth of ~23% yoy to ~`30cr due to lower taxes. Outlook and Valuation: Going

Number of FII/FPI investors increased from 56 to 68 in Mar 2025 qtr.

Siyaram Silk Mills Ltd.

16 Aug 2019

693.80

4.07%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

Uptick in festive season to be critical for Siyaram The management highlighted that market conditions remained sluggish post implementation of GST while normalisations at the dealer's level took longer than anticipated. Despite higher number of wedding days in Q1FY20, revenue growth continued to remain muted. Upcoming festive season and stabilisation of trade channels remain critical triggers for green shoots in revenues. Furthermore, the company may have to increase its marketing spends to revive sales growth leading to pressure on operating margins. We...

Siyaram Silk Mills Ltd. has lost -21.31% in the last 3 Months

Is Siyaram Silk Mills Ltd. worth buying?

135 Votes:

Buy 85.19%

Sell 7.41%

Hold 7.41%