Approval by Board of Directors for development of one-off Residential Project at MIDC Leasehold land at Dombivali, Thane, Maharashtra
SIYSIL · price
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Siyaram Silk Mills' Board approved FY2026 audited results showing strong performance with standalone revenue of Rs. 2,569 crore (up 15.7% YoY) and net profit of Rs. 228 crore (up 14.8% YoY). The company declared a special interim dividend of Rs. 4 per share (200%) commemorating the centenary birth anniversary of founder Late Shri Dharaprasad Poddar, and recommended a final dividend of Rs. 5 per share (250%), subject to shareholder approval. Additionally, the Board approved development of a one-off residential project on the company's MIDC leasehold land at Dombivali, Thane, comprising 68 two-bedroom flats across 18 floors with approximately 77,400 sq. ft. built-up area, at an estimated cost of Rs. 45 crore excluding land cost. This represents the textile company's diversification into real estate development.
Strong financial results with consistent profitability growth and generous dividend payouts are positive signals for shareholders. The residential project launch indicates diversification strategy but represents a relatively small capital deployment (~3% of net worth) with execution risk given Siyaram's primary business is textiles, not real estate.