In Q2 FY2024, Siyaram Silk Mills Ltd. reported a net profit of US $ 8.11 million, up from US $ 7.29 million in the same period the previous year, representing an 11.3 per cent year-over-year gain. Compared to US $ 69.7 million in the prior fiscal year, the company’s revenue increased 3.7 per cent to US $ 72.32 million.
With an EBITDA margin of 14.6 per cent, which is marginally lower than the 15 per cent margin from the previous year, operating profit (EBITDA) rose 1.1 per cent to US $ 10.58 million.
An Indian maker of blended fabrics and clothing, Siyaram Silk Mills Limited is also referred to as Siyaram’s or SSML. It has a chain of retail locations, branded showrooms, and an online store called Siyaram’s Online Shop. Founded in 1978, Siyaram’s has its main office in Mumbai.
Siyaram’s produces and markets yarns, home furnishings, ready-made clothing for men and women, and fabrics. The organisation has more than 170 branded showrooms around the country and is connected to more than 1 lakh retail outlets.
