SAI SILKS (KALAMANDIR) L

Retails textile goods including sarees and ethnic wear through a chain of stores across South India under multiple brand formats, principally the Kalamandir and KLM Fashion Mall banners. As of Q1 FY27 the network stood at 83 stores spanning around 8.14 lakh square feet of retail space across four states (Andhra Pradesh, Telangana, Karnataka, Tamil Nadu) with presence in 24 cities, employing 6,315 permanent staff of which 40% are women. Q1 FY27 revenue was ₹375.08 crore, broadly flat against ₹379.02 crore in Q1 FY26, with same-store sales growth down 7.5–7.8% on weak rural consumption and an Adhik Maas calendar effect that compressed the wedding/festive selling window. The company is debt-free, continues to add retail space (~30,000 sq ft added in Q1, ~1,00,000 sq ft targeted for FY27), and is rationalising underperforming KLM Fashion Mall outlets (19 reduced to 18). Cost structure shows employees at 13.7% of revenue and other operating expenses at 12.6%, with depreciation at 3.6% of revenue, and gross margin held near 42% despite 10–15 bps pressure from dyeing and fuel costs. Expansion is planned into Pune (Maharashtra) by Q4 FY27/early FY28, with Kerala also under exploration.