09 November 2022, Mumbai:
For the first half of the year, Siyaram Silk Mills’ revenue rose by 45 per cent.
An all-around performance in the fabric and apparel business led to this strong revenue growth. The fabric business revenue grew by 30 per cent. The share of fabrics in total revenue is 70 per cent. Higher pent-up demand led by strong demand revival in Tier II and III cities led to such an increase.
The company sold 11 per cent more meters of fabric. Apparel revenue rose by 92 per cent. The share of apparel in total revenue is 21 per cent. So the company’s apparel business has seen good traction. New brands and designs helped to demonstrate good performance.
Siyaram Silk Mills is a manufacturer of fabrics, readymade garments, and other textile products. The company's brands in its fabric business are Siyaram, J. Hampstead, and Cadini. The top brands in the apparel business are Siyaram, Oxembergand J. Hampstead.
The company has been consistently customer-centric and has been careering its fabric designs to meet ever-evolving fashion trends. On the fabric front, both trade and retail witnessed an encouraging trend led by higher secondary sales and strong retail footfalls in MBOs.
The apparel division too has been exhibiting strong performance. Its continued focus on Tier II and Tier III cities and its positioning among aspiring Indians have made the brand more reachable and acceptable among the masses.
