31 January 2025, Mumbai
As a part of its expansion plans, Siyaram Silk Mills plans to open 30 new stores in Tier II, III cities by Q1, FY26. Of these, the company will open around 20 stores by March 2025.
In Q3, FY25 Siyaram Silk Mills’ net profit increased by 2 per cent to Rs 45 crore ($5.2 million) as compared to Rs 44 crore for the same quarter in the previous year.
The company’s total income for the quarter rose by 14 per cent to Rs 587 crore, as against Rs 514 crore in the corresponding quarter of the previous fiscal year.
Gaurav Poddar, President, Siyaram Silk Mills, says, driven by festivities, consumer spending picked up during the quarter. Inflationary pressure remained persistent throughout the quarter thus moderating demand in the later half. However, inflation showed signs of cooling down at the end of the quarter making outlook optimistic going forward.
Poddar hopes, the remainder of the fiscal year will be driven by favorable market environment and prudent capital management, ensuring continued growth. We thank our stakeholders for their trust and support as we move into the next phase of growth,” he added.
