18 May 2023, Mumbai
Siyaram Silk Mills Ltd, a leading player in the menswear fabrics and garments market, achieved remarkable financial results for the fiscal year 2022-2023. The company reported a total income of Rs 2,273 crore, with a net profit of Rs 251 crore.
During the fourth quarter ending on March 31, Siyaram Silk Mills witnessed a notable growth in net profit, which reached Rs 88 crore, marking a 7 percent increase compared to the same period last year when it stood at Rs 82 crore. Moreover, the company's total income for the quarter experienced a growth of 10 percent, reaching Rs 706 crore, up from Rs 640 crore in the previous fiscal year.
The success of Siyaram Silk Mills can be attributed to its strong foothold in the suiting and shirting segment of the menswear market.
Not only does the company offer popular brands like Mistair, Royale Linen, Moretti, Miniature, Unicode, J Hampstead, and Oxemberg, but it also holds the exclusive rights for the prestigious Italian fashion brand, Cadini, in the Indian market.
The consistent growth and profitability of Siyaram Silk Mills reflect its ability to meet the changing preferences of Indian consumers in the menswear segment.
