Sai Silks (Kalamandir) Limited

All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.

{"amount":"125.084","purpose":"Funding capital expenditure towards setting-up of 30 new stores"}

{"amount":"25.399","purpose":"Funding capital expenditure towards setting-up of two warehouses"}

{"amount":"280.067","purpose":"Funding working capital requirements"}

{"amount":"50.00","purpose":"Repayment or pre-payment of certain borrowings"}

{"amount":"85.687","purpose":"General Corporate Purposes"}

Among the top 10 retailers of ethnic apparel, particularly sarees, in south India by revenues and PAT

Multi-format retail presence with four distinct store formats catering to different market segments from premium to value fashion

Strong regional brand recognition with 54 stores across four major south Indian states

Diversified product offerings across different price ranges enabling access to a broad customer base

Significant expansion experience having opened 15 stores across the past three fiscals

Growing organised apparel retail sector, with organised share expected to rise from 32% in 2020 to 48% in 2027

Shareholding Pattern

Income Tax Department conducted a search, survey and seizure operation at company offices, stores, warehouses and promoter residences beginning May 2, 2023 with proceedings yet to be concluded

Large portion of revenue is dependent on physical stores, which are subject to rental, lease and operational risks

Working capital intensive business with significant reliance on debt financing

Acquisition of business assets from Sai Retail India Limited makes financial comparisons across periods difficult

Concentrated geographic exposure to four south Indian states

Related party transactions with promoters and promoter group entities at significant scale