Sai Silks Kalamandir Limited announces Q4FY24 & FY24 results

Ethnic apparel retailer Sai Silks Kalamandir Limited has declared its financial results the quarter and year ended March 31, 2024.

Q4FY24 - Highlights

- Total revenue was at ₹ 359.64 crore, as compared to ₹ 323.93 crore in Q4 FY23, up by 11.03%

- EBITDA was at ₹ 54.15 crore, as compared to ₹ 50.79 crore, registered a growth of 6.62%

- Net profit was at ₹ 28.73 crore, as compared to ₹ 20.24 crore in Q4 FY23, registered a growth of 41.95%

FY24 - Highlights

- Total revenue was at ₹ 1373.55 crore, as compared to ₹ 1351.47 crore in FY23, grown marginally by 1.63%

- EBITDA was at ₹ 211.98 crore, remained flat

- Net profit was at ₹ 100.87 crore, as compared to ₹ 97.59 crore in FY23, registered a growth of 3.36%

Operational Highlights of FY24

- During the year, company opened 6 new stores with a total area of 43, 896 sft and one of the stores at Khammam was upgraded to Varamahalakshmi format, which takes the total retail space to 6.47 lakhs sq.ft.

- Two stores were opened in Coimbatore and other stores were opened in Hosur, Poonamallee in Chennai, Khammam and Salem, this is in line with company's strategy to expand in Chennai and Tamil Nadu market

Commenting on the results, Mr. Bharadwaj Rachamadugu, Sr. Vice President said, "We delivered a marginal growth in Revenues & Profits during the year despite of several market adversities in consumer markets.


Our endeavour to grow in Chennai and Tamil Nadu market has been very encouraging as of now we have expanded to 9 stores with almost 63,000 sq.ft. space. We will further expand in these markets and would like to replicate the success we had achieved in other leading Southern States like Andhra Pradesh, Telangana and Karnataka.

Once we have a sizable business, we are going to establish large warehousing facilities to cater to Chennai and rest of Tamil Nadu to bring in efficiencies in stock management and optimisation of costs to get benefit out of our sheer scale of operations.

Our highly concentrated cluster based expansion approach is paying well, as with the scale this is going to contribute for better margins."

Shares of Sai Silks Kalamandir Limited was last trading in BSE at Rs. 174.35 as compared to the previous close of Rs. 179.45. The total number of shares traded during the day was 13691 in over 761 trades.

The stock hit an intraday high of Rs. 184.00 and intraday low of 172.00. The net turnover during the day was Rs. 2428403.00.

Source : Equity Bulls

Keywords

SaiSilksKalamandir INE438K01021 SpecialityRetail VaramahalakshmiSilks Q4FY24 FY2024 ResultUpdate FY24