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

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Siyaram Silk Mills Ltd.

23 May 2019

666.50

-0.83%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

ICICI Securities Limited

FY19 was a challenging year for the company with moderate topline growth of 4.8% YoY to | 1816.2 crore. The management highlighted that market conditions remained sluggish post implementation of GST while normalisations at dealer's level took longer than anticipated. To address this issue, the management had to invest in marketing spends and trim its average realisations especially for garmenting segment. This translated into 90 bps margin contraction to 13.2% YoY in FY19. With stabilisation of trade channels and higher number of wedding dates in FY20, we expect revenue...

Siyaram Silk Mills Ltd. has gained 46.16% in the last 1 Year

Siyaram Silk Mills Ltd.

01 Feb 2019, 12:00AM

666.50

-0.83%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research SSML reported decent revenue growth of 13.4% YoY to | 446.3 crore despite market conditions remaining subdued. The fabric division grew 13% YoY to | 332 crore while growth in the garmenting segment grew marginally by 1.4% YoY to | 87 crore. Revenues from the yarn segment grew 3.4x to | 16 crore mainly due to commencement of production of its dyed yarn (indigo) facility Gross margins for the quarter contracted significantly by 265 bps...

Siyaram Silk Mills Ltd. is trading above its 200 day SMA of 641.7

Siyaram Silk Mills Ltd.

30 Jan 2019

666.50

-0.83%

Siyaram Silk Mills Ltd

Buy: Siyaram Silk Mills Ltd.

Angel Broking

For 3QFY2019, Siyaram Silk Mills (SSML) posted subdued results, which were below our expectations on bottom-line fronts. Revenue grew ~13% yoy. On the margin front, the company reported operating margin contraction by 98bps yoy. On the bottom-line front, SSML reported de-growth of ~11% yoy to ~`20cr due to subdued top-line growth. Outlook and Valuation:

Siyaram Silk Mills Ltd. has lost -23.88% in the last 3 Months

Siyaram Silk Mills Ltd.

19 Nov 2018

666.50

-0.83%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

Key financials *EPS adjusted post stock split Revenues for the quarter grew at a moderate pace of 8.5% YoY to | 458.7 crore. Fabric and garmenting division grew 5% each YoY to | 298 crore and | 132 crore, respectively. Revenues from the yarn segment grew 4x to | 18 crore mainly owing to commencement of...

Siyaram Silk Mills Ltd. has lost -23.88% in the last 3 Months

Siyaram Silk Mills Ltd.

15 Nov 2018

666.50

-0.83%

Result Updates

Buy: Siyaram Silk Mills Ltd.

Target

Angel Broking

For 2QFY2019, Siyaram Silk Mills (SSML) posted subdued set of results, which were below our expectations on both, top-line as well as bottom-line fronts. Revenue grew ~9% yoy. On the margin front, the company reported operating margin contraction by 173bps yoy. On the bottom-line front, SSML reported de-growth of ~11% yoy to ~`27cr due to..

Siyaram Silk Mills Ltd. is trading above its 200 day SMA of 641.7

Siyaram Silk Mills Ltd.

20 Aug 2018

666.50

-0.83%

Result Updates

Buy: Siyaram Silk Mills Ltd.

Target

Angel Broking

For 1QFY2019, Siyaram Silk Mills (SSML) posted subdued set of results, which were below our expectations on both, top-line as well as bottom-line fronts. Revenue was flat yoy, however, the company reported operating margin improvement. On the bottom-line front, SSML reported de-growth of ~4% yoy to ~`10cr due to subdued top-line growth. O..

Siyaram Silk Mills Ltd. is trading above its 200 day SMA of 641.7

Siyaram Silk Mills Ltd.

17 Aug 2018

666.50

-0.83%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

Better gross margins (up 50 bps YoY) and lower other expense as a percentage of sales (down 75 bps YoY) led to EBITDA margin improvement of 20 bps YoY to 10.5%. However, higher employee & processing charges as a percentage of sales (up 62 bps, 40 bps, respectively) stemmed the margin expansion. Subsequently, absolute EBITDA grew 2.7% YoY to | 34 crore Though other income rose 84% YoY to | 7.7 crore, higher interest cost (up 77% to | 11 crore) and increase in depreciation (up 4% YoY...

Siyaram Silk Mills Ltd. has lost -23.88% in the last 3 Months

Siyaram Silk Mills Ltd.

31 May 2018

666.50

-0.83%

Siyaram Silk Mills Limited

Buy: Siyaram Silk Mills Ltd.

Target

ICICI Securities Limited

EBITDA margins for the quarter improved significantly by 270 bps YoY to 16.4% (highest ever EBITDA margins), mainly on account of positive operating leverage (processing charges and other expense down 40 bps and 252 bps YoY, respectively). Subsequently, absolute EBITDA increased 35.0% YoY | 98 crore Higher depreciation (up 32% YoY to | 15.5 crore) and interest cost (up 153% YoY to | 12.2 crore), coupled with one-time exceptional...

Siyaram Silk Mills Ltd. is trading below its 50 day SMA of 706.6

Siyaram Silk Mills Ltd.

30 May 2018

666.50

-0.83%

Result Updates

Buy: Siyaram Silk Mills Ltd.

Target

Angel Broking

For 4QFY2018, Siyaram Silk Mills (SSM) posted good set of results, exceeding our expectations on both, top-line as well as bottom-line fronts. Revenues grew by ~12% yoy. On the operating front, the company reported operating margin improvement. On the bottom-line front, SSM reported growth of ~19% yoy to `52cr on the back of strong top-li..