Siyaram Silk

Owner of brands like J Hampstead, Oxemberg, Siyaram MSD, the challenging times in the textile sector has surely anchored the rise in profits. YoY, topline rose 9% at Rs.299 crore and net profit was up 6% at Rs.18 crore. Thanks to the ‘other income’ which was up 2.5 times ats.10 crore, the profits were shored up or else , after the 14% rise in operating cost, it would have fallen for the quarter.

The company’s total debt currently stands at Rs.257 crore but at the same time, has a reserve of Rs.258 crore. On an equity of Rs.9.37 crore, annualized EPS is at Rs.60 (Rs.10 FV). The company, at the beginning of the fiscal had announced a capex of Rs.160 crore to expand its fabrics and garments manufacturing capacity. It also planned to open 40 stores, mainly through franchise route but no word on the progress of any of this has been given by the company.