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Sai Silks (Kalamandir) Q3 FY26 PAT at ₹38.4 Cr; 9M PAT Jumps 50% to ₹108 Cr
Sai Silks (Kalamandir) reported a resilient 9-month performance for FY26, with revenue growing 16.1% YoY to ₹1,234 crores and PAT surging 50% to ₹108 crores. While Q3 revenue moderated to ₹411.25 crores due to the shift of the Dasara festival into Q2, gross margins improved by 40 bps to 42.2%. The company added 11 stores in the first nine months, reaching a total retail footprint of 7.7 lakh sq. ft. Management remains optimistic for FY27, citing a 10% increase in wedding dates and planned expansion into Maharashtra and Kerala.
Key Highlights
9M FY26 PAT increased by 50% YoY to ₹108 Cr, with PAT margins expanding 200 bps to 8.77%.
9M FY26 Revenue grew 16.1% YoY to ₹1,234 Cr, despite Q3 revenue dip to ₹411.25 Cr from ₹448.5 Cr.
Retail footprint expanded by 54,500 sq. ft. in 9M FY26 across 11 new stores; total area at 7.7 lakh sq. ft.
Aggressive FY27 expansion target set at 80,000-85,000 sq. ft. with entry into Maharashtra and Kerala.
Management expects FY27 wedding dates to be 10% higher than FY26, supporting structural demand.
💼 Action for Investors
Investors should look past the Q3 festive-shift volatility and focus on the significant 9-month margin expansion and aggressive geographic diversification. The company's ability to maintain pricing discipline and a debt-free expansion strategy makes it a strong play in the organized ethnic wear segment.