Whalesbook
Company ne FY26 mein kaise kiya dhamaka?
Full year FY26 mein Sai Silks (Kalamandir) Ltd ne solid performance dikhaya hai. Revenue 13.1% badh kar ₹1,654 Crore tak pahunch gaya. Aur PAT ka toh kehna hi kya, yeh lagbhag 65% badh kar ₹141 Crore ho gaya! Iske peeche ka ek bada reason hai inka store expansion. FY26 mein inhone 13 naye stores aur 1 extension khola, jisse total stores ki संख्या 81 ho gayi hai, jo poore 785,000 sq ft area mein phaili hui hain.
Company ke EBITDA margins bhi 128 basis points badhe hain, aur fiscal year ke end tak yeh 15.76% ho gaye hain. Yeh numbers dikhate hain ki company operational efficiency aur pricing power mein sudhar kar rahi hai.
Ye sab kyun ho raha hai?
Management ka kehna hai ki shaadi ka ecosystem abhi bhi bahut strong hai aur log ab organised retail ki taraf zyada shift ho rahe hain. Ye dono cheezein company ke liye growth ke bade drivers hain. Upcoming fiscal year mein company higher EBITDA margins aur aggressive store additions ka target rakhe hue hai.
Aage kya hone wala hai?
Investors taiyaar ho jao, kyunki FY27 mein bhi expansion rukne wala nahi hai. Company lagbhag 100,000 sq ft naya retail space add karne ka plan bana rahi hai, khaas kar Karnataka aur Andhra Pradesh mein. Aur toh aur, ab Maharashtra mein bhi entry ka plan hai, Mumbai mein kam se kam ek store khulne ki ummeed hai.
Profitability ko aur badhane ke liye, FY27 mein EBITDA margins ko 17.5% se 18% tak le jaane ka target hai.
Kya koi risks bhi hain?
Han, ek chhota sa issue KLM format mein dikh raha hai, jahan 3% ki kami aayi hai, especially Telangana mein. Competition bhi kaafi badh gayi hai aur fashion cycles bhi tezi se change ho rahe hain, jo consumer buying behavior ko affect kar sakte hain. Q4 FY26 mein kuch mature markets mein consumption environment thoda mixed raha.
Peer comparison
Sai Silks (Kalamandir) ka mukabala Vedant Fashions Ltd (Manyavar) jaise players se hai, jo ethnic wear segment mein hain aur unki bhi pan-India presence kaafi strong hai.