India · Delayed Price · Currency is INR Sai Silks (Kalamandir) Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY 2026 saw lower revenue due to festive calendar shifts, but nine-month results showed strong growth in revenue and profit. Expansion continues with disciplined store additions, and FY 2026-27 guidance targets 15%-20% growth, improved margins, and robust internal funding.
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Q2 and H1 FY 2025-26 delivered robust revenue and profit growth, driven by festive and wedding demand, store expansion, and strong SSG. Full-year growth guidance was raised to 18-20%, with continued focus on digital, new formats, and operational efficiency.
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Q1 FY26 delivered 42% revenue growth and 200% EBITDA growth, driven by strong wedding demand and saree sales. SSG reached 29%, with sustainable margins and a 15% annual growth target. Inventory days are set to reduce, and new formats like Valli Silks will expand the market.
Fiscal Year 2025
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Q4 FY25 revenue grew 11% YoY with gross margin expansion, despite negative SSGs. FY26 targets 15–20% revenue growth, margin improvement, and continued store expansion, especially in the Varamahalakshmi format. Income tax liabilities from prior years have been settled.
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Q3FY25 delivered strong revenue and margin growth, driven by festive and wedding demand, especially in Tier 2 cities. Premiumization and digital marketing boosted performance, while working capital improvements and debt reduction strengthened the balance sheet.
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Q2 FY24 revenue grew 6.25% year-over-year to INR 347 crore, with gross margin at 42.17% and PAT up 1.7%. H2 is expected to see strong growth due to more wedding dates and festive demand, with 45,000-50,000 sq ft of new retail space planned.
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Q1 FY25 saw revenue of INR 274 crore and improved gross margins despite a 20% drop in footfalls due to fewer wedding dates and external headwinds. Management expects a strong rebound in Q2 and H2, with positive SSG, margin recovery, and continued store expansion, targeting 100 stores and higher per sq ft productivity by FY26.