Sai Silks (Kalamandir) Limited has informed the Exchange about Transcript
KALAMANDIR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sai Silks (Kalamandir) reported Q1 FY26 revenue of INR 379 crore, up 42% year-on-year, though the company noted last year was an aberration and normalized growth is 15-20%. EBITDA grew 200% YoY to INR 57.13 crore and PAT surged 1,300% to INR 30 crore, aided by a favourable wedding calendar and operational leverage. Same-store sales growth (SSSG) was 29% on a low base, with management guiding for a normalized 4-5% SSSG. Gross margin stood at 42.07% and management indicated 42% is sustainable. The company opened 1 new Varamahalakshmi Silks store in the quarter, taking total to 69 stores across 7.27 lakh sq ft, and is on track to add 65,000 sq ft this fiscal. A new compact format called 'Valli Silks' targeting women's wear with 20-25% lower capex is being launched. Management guided for an EBITDA margin of ~20% by FY27 and inventory days to reduce from 180 to 130-135 days.
Strong Q1 results were largely driven by a favourable wedding calendar after last year's weak base, so the headline 42% revenue and 200% EBITDA growth may not sustain at that pace. However, management's multi-year guidance of 15% revenue growth, ~20% EBITDA margin by FY27, and 8-10% annual store expansion points to steady medium-term compounding. Investors should view the quarter positively but distinguish between one-off wedding calendar tailwinds and the more sustainable 15% growth trajectory management outlined.