Sai Silks (Kalamandir) Limited (SSKL), a South India-focused ethnic apparel retailer, reported a decline in revenue and profit for the third quarter ended Dec. 31, 2025, as weaker festive demand and higher operating costs weighed on performance.
Results
Versus Q3 2025:
● Revenue from operations fell 8.3% to ₹4.11 billion.
● EBITDA declined to ₹702 million with margin narrowing to about 17.1%.
● PAT fell 17.1% to ₹381 million.
Quarterly decline was attributed to a high base effect, softer discretionary spending, and increased promotional activity during the festive season.
Employee costs increased year-on-year due to store additions. Store operating expenses rose in line with network expansion. Promotional spending increased during the quarter. Inventory ageing improved compared with the prior year period.
Business Highlights
● Operates multiple ethnic retail formats with strong presence in South Indian saree market
● Omni-channel sales model in operation
● ERP-driven inventory management with centralized warehousing infrastructure
Store Network and Expansion Trend
As of Dec. 31, 2025, Sai Silks operated stores across Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, and Puducherry with store count increasing steadily over the past 3 financial years.
Expansion was concentrated in existing geographic markets and store formats remain unchanged. New stores were added primarily under the Kalamandir and KLM Fashion Mall formats.
Outlook Indicators
● Wedding and regional festival calendars remain key demand drivers.
● Store productivity remains a core operating metric.
● Inventory turnover and cost discipline remain focus areas.
● Digital channels continue to support physical retail operations.