Karvy initiates coverage of Siyaram Silk Mills Ltd with a Buy Rating. Siyaram's (SSML) net sales, EBIDTA and PAT grew (YoY) by 25%, 27% and 16% respectively during FY14 due to robust volume growth and price hike. Going forward, we expect 22% CAGR revenue growth over FY14FY16E led by better product mix and strong position in blended fabric segment