Siyaram Silk Mills Maintaining Focus On Profitable Growth: ICICI Direct  
Spools of thread sit on a textile machine. (Photographer: Taylor Weidman/Bloomberg)

Siyaram Silk Mills Maintaining Focus On Profitable Growth: ICICI Direct  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Siyaram Silk Mills Ltd. reported healthy Q3 FY21 results with a sharp recovery sequentially.

For Q3 FY21, revenue de-growth was restricted to 8.5% YoY to Rs 382.4 crore (versus decline of 64% in Q2 FY21) on the back of healthy demand during the festive season and also supported by low base of Q3 FY20.

Gross margins (including processing charges) contracted sharply by 740 basis points YoY to 37% owing to higher discounting and schemes given to dealers/distributors.

However, cost rationalisation measures significantly boosted Ebitda margins by 530bps YoY to 13.6% with Ebitda increasing by 50.5% YoY to Rs 52.0 crore.

Click on the attachment to read the full report:

ICICI Direct Siyaram Company Update.pdf

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