Sai Silks (Kalamandir) Ltd. (IN:KALAMANDIR)
:KALAMANDIR
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Sai Silks (Kalamandir) Ltd.
(KALAMANDIR)
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Rating:68Neutral
Price Target:
₹110.00
▼(-27.77% Downside)
Action:ReiteratedDate:01/22/26
The score is primarily supported by solid underlying financial performance (improving profitability, strong equity base, and positive free cash flow) and reasonable valuation (P/E ~14 and ~1.76% dividend yield). These positives are partly offset by very weak technical conditions, with the stock trading below all key moving averages and showing strongly bearish momentum indicators.
Positive Factors
Gross margin & cost control
A ~41.8% gross margin indicates durable product-level pricing power and effective procurement/merchandising. Sustained gross margins support EBITDA generation and allow investment in stores, assortment and marketing without depending solely on top-line expansion, improving long-term profitability resilience.
Negative Factors
Debt level volatility
While current leverage is modest, historical swings in total debt create uncertainty about funding patterns. Variable debt levels can compress interest coverage or force refinancing during retail seasonality, increasing financing risk and operational sensitivity over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin & cost control
A ~41.8% gross margin indicates durable product-level pricing power and effective procurement/merchandising. Sustained gross margins support EBITDA generation and allow investment in stores, assortment and marketing without depending solely on top-line expansion, improving long-term profitability resilience.
Read all positive factors
Sai Silks (Kalamandir) Ltd. (KALAMANDIR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.51B
Dividend Yield1.31%
Average Volume (3M)319.79K
Price to Earnings (P/E)14.4
Beta (1Y)1.33
Revenue Growth14.80%
EPS Growth21.05%
CountryIN
Employees5,424
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)2.59
Shares Outstanding153,366,120
10 Day Avg. Volume64,383
30 Day Avg. Volume319,787
Financial Highlights & Ratios
PEG Ratio-1.03
Price to Book (P/B)1.76
Price to Sales (P/S)1.36
P/FCF Ratio36.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.1
Revenue Forecast (FY)₹18.53B
Sai Silks (Kalamandir) Ltd. Business Overview & Revenue Model
Company Description
Sai Silks (Kalamandir) Limited engages in the retail sale of apparel in India. The company offers ultra-premium and premium sarees for weddings, parties, and occasional and daily wear; ethnic fashion for middle income customers; and value fashion ...
How the Company Makes Money
The company makes money primarily by selling merchandise to end consumers through its branded retail operations. Its core revenue stream is retail sales of ethnic apparel—especially sarees and other traditional clothing—where revenue is recognized...
Sai Silks (Kalamandir) Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
75
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.71B | 14.62B | 13.74B | 13.51B | 11.36B | 6.79B |
| Gross Profit | 6.31B | 6.11B | 5.59B | 5.29B | 2.77B | 1.31B |
| EBITDA | 2.87B | 1.86B | 2.43B | 2.18B | 1.46B | 514.74M |
| Net Income | 1.30B | 853.90M | 1.01B | 975.90M | 544.10M | 59.37M |
Balance Sheet | ||||||
| Total Assets | 18.02B | 16.41B | 16.42B | 12.20B | 10.57B | 8.43B |
| Cash, Cash Equivalents and Short-Term Investments | 2.70B | 2.95B | 447.80M | 497.00M | 486.37M | 257.99M |
| Total Debt | 3.01B | 4.05B | 4.64B | 5.26B | 3.93B | 2.79B |
| Total Liabilities | 6.15B | 5.09B | 5.79B | 8.23B | 7.41B | 5.82B |
| Stockholders Equity | 11.88B | 11.32B | 10.63B | 3.97B | 3.16B | 2.62B |
Cash Flow | ||||||
| Free Cash Flow | 1.58B | 542.60M | -626.60M | -188.80M | 822.55M | -140.09M |
| Operating Cash Flow | 1.80B | 1.07B | -214.60M | 412.30M | 736.72M | -84.35M |
| Investing Cash Flow | -349.80M | 1.18B | -3.32B | -601.40M | -435.40M | -181.91M |
| Financing Cash Flow | -1.92B | -1.84B | 3.93B | 149.00M | -271.82M | 194.26M |
Sai Silks (Kalamandir) Ltd. Technical Analysis
Negative
152.30
Price Trends
105.29
Negative
124.79
Negative
147.88
Negative
Market Momentum
-1.93
Negative
53.72
Neutral
80.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KALAMANDIR, the sentiment is Negative. The current price of 152.3 is above the 20-day moving average (MA) of 96.99, above the 50-day MA of 105.29, and above the 200-day MA of 147.88, indicating a neutral trend. The MACD of -1.93 indicates Negative momentum. The RSI at 53.72 is Neutral, neither overbought nor oversold. The STOCH value of 80.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KALAMANDIR.
Sai Silks (Kalamandir) Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹1.47T | 78.30 | ― | 0.12% | 17.16% | 11.18% | |
68 Neutral | ₹15.51B | 14.42 | ― | 1.31% | 14.80% | 21.05% | |
62 Neutral | ₹72.34B | 20.98 | ― | ― | 64.60% | 115.66% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹103.70B | 26.22 | ― | 1.37% | 1.54% | -10.15% | |
57 Neutral | ₹2.45B | 23.68 | ― | 4.77% | ― | ― |
* Consumer Cyclical Sector Average
IN:KALAMANDIR
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-13.55%
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IN:V2RETAIL
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IN:ABLBL
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Sai Silks (Kalamandir) Ltd. Corporate Events
Sai Silks Posts 13% FY26 Revenue Growth on Back of Aggressive Store Expansion
Apr 2, 2026
Sai Silks (Kalamandir) Ltd. reported a modest 5% year‑on‑year increase in turnover to Rs.419 crore for the fourth quarter of FY 2025–26, while full‑year revenue rose 13% to Rs.1,653 crore, underscoring steady growth in its ...
Sai Silks Extends IPO Fund Deployment as It Surpasses Retail Footprint Targets
Mar 29, 2026
Sai Silks (Kalamandir) has extended the timeline for using its remaining IPO proceeds of Rs. 39.86 crore by six months to September 30, 2026, after its board and audit committee approved the move. The company raised Rs. 566.23 crore in its 2023 IP...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.