Siyaram Silk Mills Ltd Share Price – NSE  / BSE

Textiles, Small Cap

Net profit of Siyaram Silk Mills rose 11.23% to Rs 68.17 crore in the quarter ended September 2024 as against Rs 61.29 crore during the previous quarter ended September 2023. Sales rose 3.75% to Rs 607.88 crore in the quarter ended September 2024 as against Rs 585.91 crore during the previous quarter ended September 2023.

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Siyaram Silk Mills has fixed 06 November 2024 as record date for first interim dividend of Rs 4 per share for FY 2024-25. The dividend will be paid on or after 14 November 2024.

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Siyaram Silk Mills announced that the Board of Directors of the Company at its meeting held on 26 October 2024, inter alia, have recommended the first interim dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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Siyaram Silk Mills announced the opening of its newest retail outlets in a move to enhance direct customer engagement and provide a seamless shopping experience. These stores will cater specifically to the growing demand for fast fashion and ethnic wear, marking a significant step forward in the company's strategic expansion plans.

The new fast fashion outlets will feature the company's latest collections under the brand name, ZECODE, targeting urban shoppers with trendy, affordable apparel, while the ethnic clothing outlets will showcase an extensive range of clothes under the brand name, DEVO, catering to the city's rich cultural heritage and style preferences.

These new stores are part of the company's larger strategy to penetrate both Tier I, II, and III cities across India, with a total of 30 new outlets planned by March 2025. This initiative will be backed by an investment of approximately Rs 50 crore, further demonstrating the company's confidence in the growth potential of both the fast fashion and ethnic wear markets.

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