Past 10 year's financial track record analysis by Moneyworks4me indicates that Sai Silks (Kalamandir) Ltd is a good quality company.
The key valuation ratios of Sai Silks (Kalamandir) Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Sai Silks (Kalamandir) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.8% | 17.4% | 16.6% | 17.3% | 22% | 21.4% | 8.1% | 21.8% | 28.5% | 18.9% | - |
| Value Creation Index ⓘ | 0.1 | 0.2 | 0.2 | 0.2 | 0.6 | 0.5 | -0.4 | 0.6 | 1.0 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 412 | 457 | 540 | 692 | 1,044 | 1,176 | 677 | 1,129 | 1,351 | 1,374 | 1,357 |
| Sales YoY Gr. | - | 10.8% | 18.2% | 28% | 50.9% | 12.6% | -42.4% | 66.8% | 19.7% | 1.6% | - |
| Adj EPS ⓘ | 1.4 | 1.1 | 1.2 | 1.3 | 2.6 | 3.6 | 0.4 | 4.8 | 8.1 | 6.8 | 5.6 |
| YoY Gr. | - | -20.7% | 10.8% | 6.5% | 97% | 38.8% | -88% | 1014% | 69.1% | -15.6% | - |
| BVPS (₹) ⓘ | 8.7 | 10.9 | 12.1 | 13.6 | 16.2 | 19.7 | 20.2 | 25 | 33 | 72.1 | 70.1 |
| Adj Net Profit ⓘ | 14.6 | 12.8 | 14.1 | 15.3 | 30.2 | 42 | 5.1 | 57.7 | 97.5 | 101 | 86 |
| Cash Flow from Ops. ⓘ | 7.4 | 35.3 | 44.8 | 59.1 | 29.8 | 85.3 | -15.2 | 45.6 | 41.2 | -21.5 | - |
| Debt/CF from Ops. ⓘ | 15.1 | 3.1 | 2.4 | 1.9 | 5.8 | 1.9 | -14.3 | 5.7 | 8.4 | -12 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.3% | 5.6% | 26.6% | 1.6% | ||||
| Adj EPS ⓘ | 19.3% | 21.5% | 151.5% | -15.6% | ||||
| BVPSⓘ | 26.4% | 34.9% | 52.9% | 118.4% | ||||
| Share Price | - | - | - | -43.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 16.8 | 11.8 | 10.7 | 10.3 | 17.4 | 20 | 2.2 | 21.2 | 27.9 | 13.8 | 7.9 |
| Op. Profit Mgn % ⓘ | 9.9 | 9.6 | 8.8 | 7.7 | 7.9 | 8.8 | 9.2 | 12.2 | 16.2 | 16 | 13.8 |
| Net Profit Mgn % ⓘ | 3.5 | 2.8 | 2.6 | 2.2 | 2.9 | 3.6 | 0.8 | 5.1 | 7.2 | 7.3 | 6.4 |
| Debt to Equity ⓘ | 1.2 | 0.9 | 0.8 | 0.7 | 0.9 | 0.7 | 0.9 | 0.9 | 0.9 | 0.2 | 0 |
| Working Cap Days ⓘ | 160 | 164 | 145 | 130 | 117 | 126 | 225 | 155 | 181 | 215 | 148 |
| Cash Conv. Cycle ⓘ | 124 | 121 | 102 | 78 | 62 | 57 | 113 | 96 | 109 | 143 | 105 |
Sales growth is growing at healthy rate in last 3 years 26.58%
Net Profit is growing at healthy rate in last 3 years 151.49%
Debt to equity has declined versus last 3 years average to 0.24
Return on Equity has declined versus last 3 years average to 7.90%
Sales growth is not so good in last 4 quarters at 1.51%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.6 | 3.6 |
| TTM Sales (₹ Cr.) | 1,357 | 1,136 |
| BVPS (₹.) ⓘ | 70.1 | 0 |
| Reserves (₹ Cr.) ⓘ | 1,044 | 273 |
| P/BV ⓘ | 2.28 | 0.00 |
| PE ⓘ | 28.26 | 44.96 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 144.25 / 311.40 |
| All Time Low / High (₹) | 144.25 / 311.40 |
| Market Cap (₹ Cr.) | 2,446 |
| Equity (₹ Cr.) | 30.7 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 94.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 412 | 457 | 540 | 692 | 1,044 | 1,176 | 677 | 1,129 | 1,351 | 1,374 |
| Operating Expenses ⓘ | 372 | 414 | 493 | 638 | 961 | 1,072 | 615 | 991 | 1,132 | 1,154 |
| Manufacturing Costs | 7 | 10 | 14 | 16 | 27 | 0 | 0 | 31 | 44 | 48 |
| Material Costs | 301 | 333 | 393 | 507 | 734 | 846 | 447 | 738 | 818 | 810 |
| Employee Cost | 18 | 18 | 24 | 31 | 45 | 105 | 85 | 99 | 133 | 157 |
| Other Costs ⓘ | 45 | 52 | 62 | 86 | 155 | 121 | 83 | 124 | 136 | 139 |
| Operating Profit ⓘ | 41 | 44 | 47 | 53 | 83 | 104 | 62 | 138 | 219 | 219 |
| Operating Profit Margin (%) | 9.9% | 9.5% | 8.8% | 7.7% | 7.9% | 8.8% | 9.2% | 12.2% | 16.2% | 16.0% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 1 | 3 | 2 | 4 | 8 | 24 |
| Interest ⓘ | 16 | 19 | 17 | 18 | 20 | 28 | 27 | 34 | 52 | 60 |
| Depreciation ⓘ | 4 | 6 | 8 | 9 | 14 | 26 | 29 | 31 | 41 | 48 |
| Exceptional Items ⓘ | -7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 15 | 19 | 23 | 27 | 49 | 53 | 7 | 77 | 134 | 135 |
| Tax ⓘ | 5 | 6 | 9 | 11 | 19 | 11 | 2 | 20 | 36 | 34 |
| Profit After Tax | 10 | 13 | 14 | 15 | 30 | 42 | 5 | 58 | 98 | 101 |
| PAT Margin (%) | 2.4% | 2.8% | 2.6% | 2.2% | 2.9% | 3.6% | 0.8% | 5.1% | 7.2% | 7.3% |
| Adjusted EPS (₹) | 1.0 | 1.1 | 1.2 | 1.3 | 2.6 | 3.6 | 0.4 | 4.8 | 8.1 | 6.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 91 | 125 | 139 | 159 | 189 | 232 | 243 | 301 | 397 | 1,063 |
| Share Capital ⓘ | 21 | 23 | 23 | 23 | 23 | 23 | 24 | 24 | 24 | 29 |
| Reserves ⓘ | 70 | 102 | 116 | 135 | 166 | 208 | 219 | 277 | 373 | 1,033 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 105 | 98 | 98 | 102 | 158 | 153 | 197 | 239 | 313 | 241 |
| Long Term Debt | 18 | 23 | 15 | 4 | 40 | 35 | 57 | 49 | 65 | 23 |
| Short Term Debt | 87 | 75 | 83 | 98 | 118 | 118 | 140 | 191 | 247 | 218 |
| Trade Payables | 19 | 19 | 26 | 80 | 142 | 170 | 108 | 129 | 230 | 59 |
| Others Liabilities ⓘ | 39 | 50 | 36 | 52 | 77 | 139 | 118 | 173 | 281 | 279 |
| Total Liabilities ⓘ | 254 | 290 | 298 | 392 | 566 | 693 | 665 | 842 | 1,220 | 1,642 |
Fixed Assets | ||||||||||
| Gross Block | 70 | 97 | 113 | 153 | 207 | 291 | 294 | 347 | 464 | 547 |
| Accumulated Depreciation | 18 | 24 | 31 | 40 | 54 | 40 | 69 | 97 | 85 | 133 |
| Net Fixed Assetsⓘ | 52 | 73 | 82 | 113 | 152 | 251 | 225 | 249 | 379 | 414 |
| CWIP ⓘ | 0 | 1 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 2 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 168 | 175 | 175 | 226 | 341 | 372 | 367 | 476 | 690 | 723 |
| Trade Receivables | 1 | 1 | 2 | 4 | 6 | 2 | 2 | 2 | 3 | 3 |
| Cash Equivalents | 4 | 3 | 2 | 2 | 21 | 23 | 23 | 47 | 50 | 402 |
| Others Assetsⓘ | 29 | 37 | 38 | 47 | 46 | 46 | 46 | 68 | 99 | 97 |
| Total Assets ⓘ | 254 | 290 | 298 | 392 | 566 | 693 | 665 | 842 | 1,220 | 1,642 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 7 | 35 | 45 | 59 | 30 | 85 | -15 | 46 | 41 | -21 |
| PBT ⓘ | 15 | 19 | 23 | 27 | 49 | 53 | 7 | 77 | 134 | 135 |
| Adjustment ⓘ | 20 | 25 | 25 | 27 | 34 | 57 | 61 | 68 | 90 | 95 |
| Changes in Working Capital ⓘ | -23 | -3 | 2 | 12 | -45 | -1 | -79 | -98 | -137 | -204 |
| Tax Paid ⓘ | -5 | -6 | -5 | -6 | -8 | -23 | -5 | -2 | -46 | -47 |
| Cash Flow From Investing Activity ⓘ | -1 | -31 | -27 | -49 | -47 | -47 | -18 | -42 | -60 | -332 |
| Capex | -5 | -27 | -16 | -40 | -53 | -47 | -6 | -25 | -60 | -41 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | -3 | -14 | -20 | -7 | -312 |
| Others ⓘ | 4 | -4 | -10 | -9 | 6 | 3 | 1 | 3 | 7 | 22 |
| Cash Flow From Financing Activityⓘ | -8 | -6 | -17 | -10 | 37 | -45 | 19 | 1 | 15 | 393 |
| Net Proceeds from Shares ⓘ | 0 | 21 | 0 | 5 | 1 | 0 | 6 | 0 | 0 | 565 |
| Net Proceeds from Borrowing ⓘ | 8 | 5 | -9 | -11 | 36 | -6 | 23 | -9 | 17 | -43 |
| Interest Paid ⓘ | -13 | -16 | -17 | -18 | -20 | -26 | -27 | -27 | -43 | -52 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -3 | -16 | 9 | 15 | 20 | -13 | 17 | 37 | 42 | -77 |
| Net Cash Flow ⓘ | -2 | -1 | 1 | 0 | 19 | -7 | -14 | 4 | -4 | 40 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.55 | 11.83 | 10.7 | 10.3 | 17.43 | 20 | 2.16 | 21.22 | 27.96 | 13.82 |
| ROCE (%) | 15.77 | 17.35 | 16.64 | 17.33 | 21.96 | 21.37 | 8.12 | 21.76 | 28.52 | 18.88 |
| Asset Turnover Ratio | 1.72 | 1.68 | 1.84 | 2 | 2.18 | 1.87 | 1 | 1.5 | 1.31 | 0.96 |
| PAT to CFO Conversion(x) | 0.7 | 2.69 | 3.21 | 3.93 | 1 | 2.02 | -3 | 0.79 | 0.42 | -0.21 | Working Capital Days |
| Receivable Days | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Inventory Days | 139 | 137 | 118 | 106 | 99 | 111 | 199 | 136 | 157 | 188 |
| Payable Days | 20 | 20 | 21 | 38 | 55 | 67 | 113 | 59 | 80 | 65 |
The company’s business was started as a partnership firm under the name and style of “Sai Silks” on August 10, 2005 with Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi as its partners. Subsequently, Kalyan Srinivas Annam and Subash Chandra Mohan Annam joined the partnership firm on April 1, 2006 and Suchitra Annam, Sowjanya Annam and Venkata Rajesh Annam joined on March 4, 2008. Further, the name of the partnership firm was also changed to “Sai Silks (Kalamandir)” on March 4, 2008 to incorporate the brand in its name. The partnership firm was subsequently converted into a private limited company and a certificate of incorporation was obtained dated July 3, 2008 under the name and style of ‘Sai Silks (Kalamandir) Private Limited’ from the Registrar of Companies, Andhra Pradesh at Hyderabad. The company was further converted into a public limited company pursuant to a special resolution passed by its Shareholders on May 14, 2009 and a fresh certificate of incorporation consequent upon conversion to public limited company was obtained on May 21, 2009 from the Registrar of Companies, Andhra Pradesh. The name of the company was changed to its present name, ‘Sai Silks (Kalamandir) Limited.
The company is amongst the top 10 retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in Fiscal 2020, 2021 and 2022. Through its four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, it offers its products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value-fashion, with a variety of products across different price points, thereby catering to customers across all market segments. It leverages its store network of 54 stores as of July 31, 2023, to focus on spreading India’s vibrant culture, traditions and heritage by offering a diverse range of products which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; lehengas, men’s ethnic wear, children’s ethnic wear and value fashion products comprising fusion wear and western wear for women, men and children. Today, it offers one of the widest portfolios of saree SKUs among women’s apparel brands in India. With large retail outlets that provide customers a wide variety of options in ethnic wear across various price points.
Business area of the company
The company provides ethnic apparel and value-fashion products. Inspired by India's vibrant culture, traditions, and heritage, the company offers a diverse range of products which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, occasional and daily wear, lehengas, men's ethnic wear, children's ethnic wear and value fashion products comprising fusion wear and western wear for women, men and children.
Key Awards, Accreditations and Recognition
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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