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SSDL Declares Rs 3.00/Share Interim Dividend (30%), Fixes Record Date as Sept 30, 2026
Saraswati Saree Depot Limited has declared an interim dividend of Rs 3.00 per share (30% on face value of Rs 10) for FY27. The total dividend outgo will be Rs 11.88 crore, which represents roughly 51.7% of its TTM net profit of Rs 23 crore. The record date to determine eligible shareholders has been set for September 30, 2026.
Confidence: HIGH
What changedThe Board approved an interim dividend of Rs 3.00 per share and fixed September 30, 2026 as the entitlement record date.
Why it mattersThe Rs 11.88 crore payout reflects strong cash distribution to shareholders, representing over half of its TTM net profit (Rs 23 crore) and a yield of ~4.1% on the current share price of Rs 73.3.
Interim dividend per share: Rs. 3.00Total dividend payout: Rs 11,87,99,400Payout vs TTM net profit: ~51.7%Record date: 30-Sep-2026
📅 Short termThe announcement is likely to support the stock in the near term ahead of the September 30 record date due to an attractive ~4.1% dividend yield.
📈 Long termLimited; reflects healthy shareholder returns, though sustained dividend payouts will depend on maintaining operating margins amidst competition from unorganized retail.
⚠ Risk flags
- High payout relative to historical operating cash flow (INR 2.46 Cr in FY25) could reduce liquidity for expansion
Key Highlights
Interim dividend declared at Rs 3.00 per equity share (30% on face value of Rs 10)
Total dividend payout stands at Rs 11,87,99,400 (Rs 11.88 crore)
Record date fixed as Wednesday, September 30, 2026
Board meeting commenced at 04:00 PM and concluded at 04:30 PM on September 24, 2026
👀 What to Watch
Track the ex-dividend date preceding the September 30, 2026 record date for eligibility, and observe upcoming Q2 FY27 earnings for sustained cash flow performance.
SSDL Declares Rs 3/Share Interim Dividend Totaling Rs 11.88 Cr; Record Date Sept 30, 2026
Saraswati Saree Depot Limited has declared an interim dividend of Rs. 3.00 (30%) per equity share of face value Rs. 10 each for FY 2026-27. The total cash outgo for the dividend stands at Rs. 11.88 Cr, which represents about 51.6% of its TTM net profit of Rs. 23 Cr. The company has fixed Wednesday, September 30, 2026, as the record date to determine eligible shareholders. At the current share price of Rs 73.3, this dividend payout represents a single-payout yield of approximately 4.1%.
Confidence: HIGH
What changedBoard approval of a Rs. 3.00 per share interim dividend for FY 2026-27, with the record date set for September 30, 2026.
Why it mattersDistributes Rs. 11.88 Cr to shareholders, demonstrating substantial cash return and representing over half of the company's trailing twelve-month earnings.
Interim Dividend Per Share: Rs. 3.00Total Dividend Payout: Rs. 11,87,99,400Record Date: September 30, 2026Dividend vs TTM PAT: ~51.6%
📅 Short termTrading volume and share price may see activity leading up to the September 30, 2026 record date given the notable ~4.1% payout yield.
📈 Long termLimited; reflects continued cash return to shareholders but must be balanced against reinvestment needs for retail footprint expansion.
⚠ Risk flags
- Cash outflow of Rs 11.88 Cr is relatively high compared to operating cash flows (Rs 2.46 Cr in FY25).
Key Highlights
Interim dividend of Rs. 3.00 (30%) declared per Rs. 10 face value equity share
Total dividend outgo approved is Rs. 11,87,99,400 (Rs. 11.88 Cr)
Record date fixed as Wednesday, September 30, 2026
Payout accounts for approximately 51.6% of SSDL's TTM PAT of Rs. 23 Cr
👀 What to Watch
Track the ex-dividend date prior to the September 30, 2026 record date and observe the company's subsequent cash balance impact in upcoming quarterly reports.
SSDL Q1 FY27 Revenue at ₹147.59 Cr (+1.9% YoY); PAT Up 4.0% to ₹6.61 Cr as Margins Contract
Saraswati Saree Depot reported modest Q1 FY27 performance with revenue from operations growing 1.9% YoY to ₹1,475.90 Million (₹147.59 Cr). Operating profitability faced headwinds from elevated procurement costs, causing EBITDA to fall 13.1% YoY to ₹78.03 Million and EBITDA margin to contract by 92 bps to 5.29%. Net profit rose 4.0% YoY to ₹66.05 Million (₹6.61 Cr) with an EPS of ₹1.70, supported by lower sequential costs and working capital discipline. Sequentially, performance improved strongly over Q4 FY26, with revenue up 10.5% and PAT up 98.1%.
Confidence: HIGH
What changedSaraswati Saree Depot reported its unaudited Q1 FY27 earnings, reflecting modest top-line growth (+1.9% YoY) and margin compression due to higher procurement expenses.
Why it mattersDemonstrates steady volume stability in B2B wholesale saree trading, but highlights the impact of elevated sourcing costs on operating margins in an industry with limited pricing power.
Revenue from Operations (Q1 FY27): ₹1,475.90 MillionEBITDA (Q1 FY27): ₹78.03 MillionEBITDA Margin: 5.29%Profit After Tax (Q1 FY27): ₹66.05 MillionDiluted EPS: ₹1.70
📅 Short termPerformance is likely to be viewed as neutral-to-subdued given single-digit YoY revenue growth and a 92 bps YoY drop in EBITDA margins, though cushioned by a strong sequential rebound from Q4 FY26.
📈 Long termStructural expansion depends on successfully building direct-to-consumer retail channels, managing raw procurement inflation, and expanding geographic reach beyond core Western India markets.
⚠ Risk flags
- Elevated procurement costs putting pressure on operating EBITDA margins
- Seasonal distortion risk in Q2 and Q3 FY27 due to the shift in the timing of the Diwali festive season
- High geographic concentration in Western India
Key Highlights
Revenue from operations increased 1.9% YoY to ₹1,475.90 Million in Q1 FY27 (vs ₹1,447.71 Million in Q1 FY26)
EBITDA (excl. other income) fell 13.1% YoY to ₹78.03 Million, with EBITDA margin down 92 bps to 5.29%
PAT increased 4.0% YoY to ₹66.05 Million from ₹63.52 Million, delivering an EPS of ₹1.70
Strong sequential rebound with revenue up 10.5% and PAT surging 98.1% compared to Q4 FY26 (₹33.35 Million PAT)
Management flagged potential YoY distortion in Q2/Q3 FY27 due to shifting Diwali festive timing
👀 What to Watch
Track procurement cost trends and gross margin recovery in upcoming quarters, alongside festive demand shifts across Q2 and Q3 FY27 as the company expands its direct-to-consumer retail footprint.
Q1 FY27 Investor Presentation: Revenue up 1.9% YoY to ₹147.59 Cr, PAT at ₹6.61 Cr
Saraswati Saree Depot reported a modest 1.9% YoY revenue growth to ₹147.59 Cr in Q1 FY27, with PAT rising 4.0% YoY to ₹6.61 Cr. EBITDA margin compressed by 91 bps YoY to 5.29% (EBITDA of ₹7.80 Cr) due to elevated procurement costs. The company maintains a debt-free balance sheet and improved its cash conversion cycle by 23 days QoQ to 49 days. Wholesale continues to dominate at 98.3% of revenue, while its nascent direct-to-consumer retail format contributed 1.7% (₹2.54 Cr).
Confidence: HIGH
What changedSSDL published its detailed Q1 FY27 investor presentation following quarterly results, outlining segment performance and sourcing strategy adjustments.
Why it mattersThe disclosure highlights operational improvements in working capital alongside margin pressures from procurement costs, while tracking the early ramp-up of higher-margin retail operations.
Revenue (Q1 FY27): ₹1,475.90 MnPAT (Q1 FY27): ₹66.05 MnEBITDA Margin (Q1 FY27): 5.29%Cash Conversion Cycle: 49 daysWholesale Channel Share: 98.28%
📅 Short termPerformance is likely to see muted immediate stock reaction as modest top-line growth is counterbalanced by margin compression and festive seasonality shifts into Q2/Q3.
📈 Long termStructural growth relies on market formalization from unorganized to organized saree wholesale (expected organized CAGR of 9-10% through FY29) and successful scaling of retail outlets.
⚠ Risk flags
- High geographic concentration with 85.1% revenue from Western India
- EBITDA margin vulnerability to elevated textile procurement costs
- Shift in festive calendar affecting Q2/Q3 YoY comparability
Key Highlights
Revenue from operations rose 1.9% YoY to ₹1,475.90 Mn (₹147.59 Cr) in Q1 FY27
PAT increased 4.0% YoY to ₹66.05 Mn (₹6.61 Cr) with a net margin of 4.48% and EPS of ₹1.70
EBITDA contracted to ₹78.03 Mn with margin declining to 5.29% from 6.20% in Q1 FY26
Working capital improved with cash conversion cycle shortening by 23 days QoQ to 49 days
Product mix remained concentrated in sarees at 89.8% of revenue, with 85.1% originating from West India
👀 What to Watch
Track margin recovery progress as management addresses procurement efficiency, and monitor Q2/Q3 FY27 seasonal sales swings due to shifted Diwali festive timing.
SSDL Q1 Net Profit Up 4.0% YoY to ₹6.61 Cr; Revenue at ₹147.59 Cr
For the quarter ended June 30, 2026, Saraswati Saree Depot Limited reported revenue from operations of ₹147.59 crore (₹1,475.90 million), up 1.95% YoY from ₹144.77 crore in Q1 FY26. Net profit rose 3.98% YoY to ₹6.61 crore (₹66.05 million) compared to ₹6.35 crore in the corresponding prior quarter, representing a sharp sequential recovery from ₹3.34 crore in Q4 FY26. Basic EPS stood at ₹1.70 versus ₹1.61 in Q1 FY26. Additionally, the board approved the appointment of PPC & Co as statutory auditors for a 5-year term and scheduled its 6th AGM for September 18, 2026.
Confidence: HIGH
What changedSSDL published its Q1 FY27 financial results showing sequential margin recovery and approved a 5-year statutory auditor rotation to PPC & Co.
Why it mattersDemonstrates steady baseline performance with modest YoY revenue/profit growth in wholesale apparel trading, supporting the full-year earnings trajectory.
Revenue from operations (Q1): 1,475.90 MillionProfit after tax (Q1): 66.05 MillionBasic EPS: 1.70Auditor appointment tenure: 5 (five) yearsAGM date: September 18, 2026
📅 Short termStable Q1 numbers offer downside support to the stock after a sequential rebound from Q4.
📈 Long termLimited; operational model remains volume-led apparel wholesaling with stable low-single-digit net profit margins.
⚠ Risk flags
- Associate financials (50% partnership firm) were unreviewed by auditors as noted in the Limited Review Report
- High geographic concentration in Western India
Key Highlights
Q1 Revenue from operations reached ₹147.59 Cr (₹1,475.90 Mn) vs ₹144.77 Cr in Q1 FY26
Net profit after tax stood at ₹6.61 Cr (₹66.05 Mn) vs ₹6.35 Cr in Q1 FY26 and ₹3.34 Cr in Q4 FY26
Basic and diluted EPS stood at ₹1.70 per share (face value ₹10) vs ₹1.61 in Q1 FY26
PPC & Co, Chartered Accountants, appointed as Statutory Auditors for a 5-year term ending at the FY31 AGM
6th Annual General Meeting fixed for Friday, September 18, 2026 via VC/OAVM
👀 What to Watch
Track volume uptake and working capital intensity as the company builds inventory ahead of the key Q2/Q3 festive and wedding seasons.
SSDL Q1 PAT Rises 4% YoY to ₹6.61 Cr; Revenue Flat at ₹147.59 Cr
Saraswati Saree Depot Limited (SSDL) reported Q1 FY27 revenue from operations of ₹147.59 Cr (₹1,475.90 Mn), up 1.95% YoY from ₹144.77 Cr and up 10.53% QoQ. Net profit for the quarter rose 3.98% YoY to ₹6.61 Cr (₹66.05 Mn) compared to ₹6.35 Cr in Q1 FY26, rebounding sharply from ₹3.34 Cr in Q4 FY26. Diluted EPS stood at ₹1.70 for the quarter versus ₹1.61 a year ago. Additionally, the Board approved the appointment of PPC & Co, Chartered Accountants, as statutory auditors for a 5-year term subject to shareholder approval at the AGM on September 18, 2026.
Confidence: HIGH
What changedSSDL published its Q1 FY27 financial results and approved a 5-year auditor transition to PPC & Co upon expiration of the incumbent auditor's term.
Why it mattersShows stable profitability and margin preservation (~5.9% PBT margin), though top-line growth remains muted (~2% YoY) reflecting unorganized sector competition.
Revenue from operations (Q1): ₹1,475.90 MnNet Profit (Q1): ₹66.05 MnEPS (Basic & Diluted): ₹1.70YoY Revenue Growth: 1.95%AGM Date: September 18, 2026
📅 Short termMuted to neutral price reaction expected as results show steady but low single-digit YoY expansion.
📈 Long termLimited structural change; long-term upside depends on geographic diversification outside Western India and scaling non-saree apparel categories.
⚠ Risk flags
- Auditor noted unreviewed financials for the 50% associate partnership firm
- High regional concentration in Western India
Key Highlights
Revenue from operations stood at ₹147.59 Cr (₹1,475.90 Mn), representing modest YoY growth of 1.95%.
Net profit rose to ₹6.61 Cr (₹66.05 Mn), up 3.98% YoY and 98.05% QoQ from ₹3.34 Cr in Q4 FY26.
Finance costs declined sharply to ₹0.015 Cr (₹0.15 Mn) from ₹0.263 Cr (₹2.63 Mn) in Q1 FY26.
Proposed appointment of PPC & Co as statutory auditors for 5 years (until FY 2030-31 AGM).
6th Annual General Meeting fixed for Friday, September 18, 2026 via VC/OAVM.
👀 What to Watch
Monitor volume growth trends ahead of the key festive/wedding quarters (Q2/Q3) and track voting outcomes at the September 18, 2026 AGM.
SSDL Resubmits FY26 Results with Signed Audit Qualification on Inventory Records
Saraswati Saree Depot Limited (SSDL) has resubmitted its audited financial results for the year ended March 31, 2026, to address an exchange discrepancy regarding an unsigned 'Statement of Impact of Audit Qualification.' The statutory auditor issued a qualified opinion because the company failed to maintain quantitative stock records, relying solely on physical counts for inventory valuation. Despite this procedural weakness, the company reported a strong cash position of ₹699.28 million and a significant jump in operating cash flow to ₹359.59 million for FY26. The company has also appointed a new internal auditor to oversee financial controls for FY27.
Confidence: HIGH
What changedThe company corrected a filing error by providing a signed statement regarding its audit qualification and confirmed the appointment of a new internal auditor.
Why it mattersFor a wholesaler with over 300,000 SKUs, the lack of quantitative stock records is a material internal control weakness that can lead to inventory leakage or valuation errors, though the current impact is not quantified as material by the auditor.
Inventory (FY26): ₹1,206.91 MillionInventory vs TTM Revenue: ~24.6%Cash and Cash Equivalents: ₹699.28 MillionOperating Cash Flow (FY26): ₹359.59 MillionPBT (FY26): ₹311.96 Million
📅 Short termThe stock may face minor pressure or volatility as the market processes the formal audit qualification regarding inventory management.
📈 Long termThe structural significance depends on the company's ability to implement robust ERP-based inventory tracking; failure to do so could lead to persistent audit qualifications and governance concerns.
⚠ Risk flags
- Lack of quantitative stock records
- Internal control weakness in inventory management
- High geographic concentration in Western India
Key Highlights
Statutory auditor issued a qualified opinion due to the absence of quantitative stock records for the goods dealt in during FY26
Closing inventory as of March 31, 2026, was valued at ₹1,206.91 million based on physical counting
Cash and cash equivalents increased by 50.3% year-on-year to ₹699.28 million
Net cash from operating activities improved significantly to ₹359.59 million from ₹24.55 million in the previous year
Appointed M/s. Ajit M. Joshi and Associates as Internal Auditor for FY2026-27 to improve internal financial controls
👀 What to Watch
Investors should monitor future quarterly filings to see if the newly appointed internal auditor resolves the lack of quantitative stock records, which is a key internal control requirement for a trading business.
SSDL Appoints Rajesh Dulhani as Chairman; Re-appoints Independent Directors for 5-Year Terms
Saraswati Saree Depot Limited (SSDL) has appointed Executive Director Rajesh Dulhani as the new Chairman effective June 8, 2026, following the resignation of Shankar Laxmandas Dulhani. The board also approved the re-appointment of two Independent Directors, Mr. Yatiraj Marda and Mr. Amar Thorat, for five-year terms starting in mid-2026. Conversely, Mr. Maniklal Karmakar will cease his role as an Independent Director on June 19, 2026, upon the completion of his tenure. These changes reflect a mix of internal leadership transition and continuity in board oversight.
Key Highlights
Mr. Rajesh Dulhani appointed as Chairman effective June 8, 2026, bringing over 30 years of apparel industry experience.
Mr. Yatiraj Marda and Mr. Amar Thorat re-appointed as Independent Additional Directors for 5-year terms ending in 2031.
Mr. Maniklal Karmakar to step down as Independent Director on June 19, 2026, following term completion.
The leadership transition follows the resignation of the previous Chairman and Executive Director, Mr. Shankar Laxmandas Dulhani.
👀 What to Watch
Investors should monitor the company for any shifts in strategic direction under the new Chairman, though the re-appointment of experienced independent directors suggests stability in governance.
SSDL Appoints Rajesh Dulhani as Chairman and Re-appoints Key Independent Directors
Saraswati Saree Depot Limited (SSDL) has announced a leadership transition, appointing Executive Director Mr. Rajesh Dulhani as the new Chairman effective June 8, 2026, following the resignation of Mr. Shankar Laxmandas Dulhani. The company also approved the re-appointment of two Independent Directors, Mr. Yatiraj Marda and Mr. Amar Thorat, for five-year terms starting in June and August 2026, respectively. Concurrently, Mr. Maniklal Karmakar will step down as an Independent Director on June 19, 2026, upon the completion of his term. These appointments aim to ensure continuity in governance and leverage the extensive industry experience of the board members.
Key Highlights
Mr. Rajesh Dulhani appointed as Chairman effective June 8, 2026, bringing over 30 years of apparel industry experience.
Mr. Yatiraj Marda re-appointed as Independent Additional Director for a 5-year term starting June 20, 2026.
Mr. Amar Thorat re-appointed as Independent Additional Director for a 5-year term starting August 2, 2026.
Mr. Maniklal Karmakar to cease his role as Independent Director on June 19, 2026, following term completion.
👀 What to Watch
Investors should view these management changes as a routine transition for governance stability. Monitor the company's performance under the new Chairman's leadership to see if there are any shifts in strategic direction.
SSDL Chairman Shankar Laxmandas Dulhani Resigns Effective June 5, 2026
Saraswati Saree Depot Limited (SSDL) has announced the resignation of Mr. Shankar Laxmandas Dulhani from his dual roles as Chairman and Executive Director. The resignation is effective immediately from June 5, 2026. Mr. Dulhani has stepped down to focus on managing his partnership firm, and the company has confirmed there are no other material reasons for his departure.
Key Highlights
Mr. Shankar Laxmandas Dulhani (DIN: 01810022) resigned as Chairman and Executive Director on June 5, 2026.
The resignation is effective immediately with no other material reasons cited by the company.
Reason for departure is to dedicate more time towards his partnership firm's business interests.
Disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
👀 What to Watch
Investors should monitor the company's next steps regarding the appointment of a new Chairman to ensure leadership continuity and stability.
SSDL FY26 Revenue up 4.6% to ₹631.16 Cr; PAT falls 23.5% on margin pressure
Saraswati Saree Depot (SSDL) reported a modest 4.6% YoY revenue growth to ₹631.16 crore for FY26, though Q4 revenue saw a slight decline. Profitability was significantly impacted, with FY26 PAT dropping 23.5% to ₹23.41 crore and EBITDA margins contracting by 209 bps to 5.07% due to higher procurement costs. Despite the earnings decline, the company remains debt-free and improved its cash position by over 50% to ₹69.93 crore through better working capital management. Management has issued a cautious outlook, expecting significantly weaker demand in the coming year due to soft consumer spending.
Key Highlights
FY26 Revenue from Operations increased 4.6% YoY to ₹631.16 crore.
EBITDA margins contracted significantly from 7.16% in FY25 to 5.07% in FY26.
Profit After Tax (PAT) for the full year declined 23.5% to ₹23.41 crore.
Cash and cash equivalents increased by over 50% to ₹69.93 crore as of March 31, 2026.
Management warned of significantly weaker demand conditions expected in the upcoming fiscal year.
👀 What to Watch
Investors should exercise caution as the company faces margin compression and a pessimistic demand outlook for the near term. While the debt-free balance sheet and strong cash reserves provide stability, the lack of growth momentum and rising costs are immediate concerns.
SSDL FY26 Revenue Hits ₹631.16 Cr; PAT Drops 23.4% as Margins Contract to 5.07%
Saraswati Saree Depot Limited (SSDL) reported a modest 4.6% YoY revenue growth to ₹631.16 crore for FY26, but faced significant profitability challenges. Full-year PAT declined by 23.45% to ₹23.41 crore, while Q4 FY26 PAT plummeted 52.5% YoY to ₹3.34 crore. EBITDA margins compressed from 7.19% to 5.07% due to higher procurement costs and margin pressure. Despite these headwinds, the company maintains a debt-free balance sheet with a healthy cash reserve of ₹69.9 crore.
Key Highlights
FY26 Revenue from Operations grew 4.6% YoY to ₹631.16 crore, though Q4 revenue saw a slight 2.1% dip.
EBITDA for FY26 fell 26.2% to ₹32.02 crore, with margins contracting by 211 bps to 5.07%.
Maintained a debt-free status with cash and cash equivalents increasing to ₹69.9 crore as of March 31, 2026.
Sarees remain the core business segment, contributing 89.3% of the total revenue mix.
Management issued a cautious outlook, expecting demand conditions in the coming year to remain significantly weaker.
👀 What to Watch
Investors should exercise caution given the sharp decline in quarterly profitability and management's warning of a weak demand environment ahead. While the debt-free balance sheet provides a safety net, the stock may face pressure until margins stabilize and the new retail initiative shows meaningful contribution.
SSDL FY26 Net Profit Drops 23% to ₹234M; Auditor Issues Qualified Opinion on Stock Records
Saraswati Saree Depot Limited (SSDL) reported a weak financial performance for FY26, with annual net profit declining 23.4% to ₹234.06 million despite a 4.5% growth in revenue to ₹6,311.62 million. The Q4 FY26 performance was particularly stressed, with PAT more than halving to ₹33.35 million compared to ₹70.25 million in the same quarter last year. A significant concern is the Statutory Auditor's qualified opinion, highlighting that the company failed to maintain quantitative stock records during the year. Additionally, the board has appointed M/s. Ajit M. Joshi and Associates as the new Internal Auditor for FY 2026-27.
Key Highlights
Annual Revenue from operations grew marginally by 4.5% YoY to ₹6,311.62 million in FY26.
Net Profit for the full year FY26 fell to ₹234.06 million from ₹305.76 million in FY25.
Q4 FY26 PAT plummeted by 52.5% YoY to ₹33.35 million, reflecting margin pressure.
Statutory Auditors issued a qualified opinion stating the company did not maintain quantitative stock records for goods.
Appointed M/s. Ajit M. Joshi and Associates as Internal Auditor to oversee financial controls for FY 2026-27.
👀 What to Watch
Investors should exercise caution as the sharp decline in profitability is compounded by a serious auditor qualification regarding inventory tracking. Await management clarification on how they intend to rectify internal control deficiencies before making new commitments.
SSDL FY26 Net Profit Drops 23% to ₹234M; Auditor Raises Qualification on Inventory Records
Saraswati Saree Depot Limited (SSDL) reported a 23.4% decline in annual net profit to ₹234.06 million for FY26, despite a modest 4.5% growth in total revenue to ₹6,311.62 million. The fourth quarter was particularly weak, with net profit plunging 52.5% year-on-year to ₹33.35 million. A major concern for investors is the statutory auditor's qualified opinion, which highlights that the company does not maintain quantitative stock records and relies solely on physical counting for inventory valuation. To address internal controls, the board has appointed M/s. Ajit M. Joshi and Associates as the new Internal Auditor for FY 2026-27.
Key Highlights
Annual revenue from operations increased by 4.5% to ₹6,311.62 million in FY26 from ₹6,035.90 million in FY25.
Full-year net profit fell to ₹234.06 million compared to ₹305.76 million in the previous fiscal year.
Q4 FY26 net profit dropped sharply to ₹33.35 million from ₹70.25 million in Q4 FY25.
Auditors issued a qualified opinion due to the absence of quantitative stock records for goods dealt by the company.
Earnings Per Share (EPS) declined to ₹5.89 for FY26, down from ₹7.72 in FY25.
👀 What to Watch
Investors should exercise caution as the sharp decline in quarterly profitability and the auditor's qualification regarding inventory records suggest potential weaknesses in internal controls and margin pressure. It is advisable to wait for management's clarification on inventory management improvements before making new positions.
SSDL FY26 Net Profit Declines 23% to ₹234.06 Million; Auditor Issues Qualified Opinion
Saraswati Saree Depot Limited (SSDL) reported a 23.4% decline in annual net profit to ₹234.06 million for FY26, down from ₹305.76 million in FY25. While annual revenue saw a modest growth of 4.5% to ₹6,311.62 million, the Q4 FY26 performance was weak with net profit more than halving to ₹33.35 million compared to the previous year's quarter. A significant concern is the auditor's qualified opinion regarding the company's failure to maintain quantitative stock records. The board has also appointed M/s. Ajit M. Joshi and Associates as the new internal auditor for FY 2026-27.
Key Highlights
Annual revenue for FY26 increased slightly to ₹6,311.62 million from ₹6,035.90 million in FY25.
Net profit for the full year dropped to ₹234.06 million, representing a 23.4% YoY decline.
Q4 FY26 net profit fell sharply to ₹33.35 million from ₹70.25 million in Q4 FY25.
Auditors issued a qualified opinion stating the company did not maintain quantitative stock records for goods.
Earnings Per Share (EPS) for FY26 decreased to ₹5.89 from ₹7.72 in the previous fiscal year.
👀 What to Watch
Investors should exercise caution as the declining profitability is compounded by a red flag in the auditor's report regarding inventory management. It is advisable to wait for management's clarification on how they intend to rectify the lack of quantitative stock records.
SSDL Q3 FY26 PAT Drops 59% YoY to ₹32.1 Million; Revenue Declines 20.7%
Saraswati Saree Depot Limited (SSDL) reported a weak set of numbers for Q3 FY26, with revenue from operations falling 20.7% YoY to ₹1,444.66 million. Net profit witnessed a sharp decline of 59.3% YoY, dropping to ₹32.10 million from ₹78.83 million in the same quarter last year. On a sequential basis, the performance was even more subdued, with PAT falling nearly 70% from ₹105.09 million in Q2 FY26. For the nine-month period ending December 2025, PAT stands at ₹200.71 million compared to ₹235.52 million in the previous year.
Key Highlights
Revenue from operations decreased 20.7% YoY to ₹1,444.66 million in Q3 FY26.
Net Profit (PAT) plummeted 59.3% YoY to ₹32.10 million from ₹78.83 million.
Earnings Per Share (EPS) for the quarter fell to ₹0.81 from ₹1.99 in Q3 FY25.
9-month revenue showed a marginal growth of 4.3% YoY reaching ₹4,976.29 million, but 9-month PAT declined by 14.8%.
Total expenses for the quarter stood at ₹1,414.07 million, leading to a significant compression in profit margins.
👀 What to Watch
Investors should exercise caution as the company has shown a significant decline in profitability and revenue growth this quarter. It is recommended to monitor management's explanation for the margin compression and the sharp sequential drop in performance.
SSDL Q3 FY26 PAT Drops 59.2% YoY to ₹3.21 Cr Amid Margin Compression
Saraswati Saree Depot Limited (SSDL) reported a weak Q3 FY26 with revenue declining 20.7% YoY to ₹144.47 crore, attributed to a high base effect and softening wholesale demand. Profitability was significantly impacted as PAT fell 59.2% YoY to ₹3.21 crore, while EBITDA margins contracted from 7.04% to 3.29% due to input cost pressures. Despite the quarterly slump, the 9M FY26 revenue grew 4.3% YoY to ₹497.63 crore, reflecting underlying business resilience. The company is diversifying into the retail segment, which currently contributes approximately 1% of total sales.
Key Highlights
Q3 FY26 Revenue fell 20.7% YoY to ₹144.47 crore vs ₹182.14 crore in Q3 FY25.
EBITDA for the quarter plummeted 63% YoY to ₹4.75 crore with margins shrinking to 3.29%.
Net Profit (PAT) for Q3 FY26 declined 59.2% YoY to ₹3.21 crore from ₹7.88 crore.
9M FY26 Revenue showed a modest growth of 4.3% YoY reaching ₹497.63 crore.
Maintained a strong balance sheet with a Debt/Equity ratio of 0.0 as of H1 FY26.
👀 What to Watch
Investors should exercise caution due to the sharp margin contraction and monitor if the upcoming wedding season in Q4 drives the expected volume recovery. The strategic shift toward retail is a long-term positive, but current performance is under pressure from input costs and operating deleverage.
SSDL Q3 FY26 PAT Slumps 59% YoY to ₹3.21 Cr; EBITDA Margins Contract to 3.29%
Saraswati Saree Depot reported a weak Q3 FY26 with revenue declining 20.7% YoY to ₹144.47 crore, primarily due to a high base effect and seasonal softness. Profitability was significantly impacted, with PAT falling 59.3% YoY to ₹3.21 crore and EBITDA margins contracting by 375 bps to 3.29%. For the nine-month period, revenue grew slightly by 4.3% to ₹497.63 crore, but PAT declined 14.8% to ₹20.07 crore due to input cost pressures. Management expects a recovery in Q4 driven by the upcoming wedding season and festive demand.
Key Highlights
Q3 FY26 Revenue fell 20.7% YoY to ₹144.47 crore compared to ₹182.14 crore in Q3 FY25.
EBITDA for the quarter slumped 63% YoY to ₹4.75 crore, with margins shrinking from 7.04% to 3.29%.
9M FY26 PAT declined 14.8% YoY to ₹20.07 crore despite a 4.3% growth in top-line revenue of ₹497.63 crore.
Input cost pressures and operating deleverage led to a 211 bps contraction in Q3 PAT margins to 2.22%.
Company launched a new retail initiative which contributed approximately 1% to the total revenue during the quarter.
👀 What to Watch
Investors should exercise caution as the sharp margin contraction and profit decline indicate significant pressure on the wholesale business model. Monitor the Q4 results closely to see if the wedding season demand can restore margins to historical levels of 6-7%.
Saraswati Saree Depot Approves Unaudited Financial Results for Q3 and Nine Months Ended Dec 2025
Saraswati Saree Depot Limited (SSDL) held a board meeting on February 14, 2026, to approve the unaudited financial results for the quarter and nine-month period ending December 31, 2025. The meeting was brief, lasting 35 minutes, and concluded with the approval of the financial statements and the Limited Review Report. This filing confirms compliance with SEBI Regulation 33 regarding periodic financial disclosures. Investors should now examine the detailed financial tables to evaluate the company's performance during the critical Q3 festive and wedding season.
Key Highlights
Board approved unaudited financial results for the quarter ended December 31, 2025.
Financial results for the nine-month period ending December 31, 2025, were also reviewed and approved.
The board meeting commenced at 04:00 PM and concluded at 04:35 PM on February 14, 2026.
The submission includes a Limited Review Report from statutory auditors as per IND AS requirements.
👀 What to Watch
Investors should review the detailed profit and loss statements once available to assess revenue growth and margin stability in the wholesale textile segment. Monitor the stock for any price action following the formal release of the numerical data.
SSDL Proposes Strategic Diversification into Real Estate Sector via Postal Ballot
Saraswati Saree Depot Limited (SSDL) has initiated a postal ballot to seek shareholder approval for altering its Memorandum of Association to include real estate development. The proposed expansion covers the construction, sale, leasing, and management of residential, commercial, and industrial properties. While the core saree and garment business will remain the primary focus, this move marks a significant entry into a new industry. The e-voting period for shareholders is scheduled from December 2, 2025, to January 1, 2026.
Key Highlights
Proposal to add real estate development and infrastructure projects to the company's Main Objects clause.
Core business of trading and manufacturing sarees and garments will continue unaltered.
Remote e-voting period runs from December 2, 2025, to January 1, 2026.
Cut-off date for determining shareholder voting eligibility was November 28, 2025.
Final results of the postal ballot will be announced on or before January 3, 2026.
👀 What to Watch
Investors should monitor the company's capital allocation plans and management's expertise in the real estate sector, as this represents a significant departure from their core textile business.
