Sai Silks (Kalamandir) (KALAMANDIR) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 saw strong revenue growth driven by a favorable wedding calendar, robust consumer demand, and a leading saree and value fashion presence across South India.

• Operates 69 stores in 21 cities under four brands, with ~726,388 sq. ft retail space and an average revenue per store of ₹215 million for FY 24-25.

• Unaudited Q1 FY26 results were approved and reviewed by statutory auditors; company is debt free on working capital borrowings.

• August 22, 2025, set as record date for a final dividend of Rs.1 per equity share.

• Focuses on innovative designs, omnichannel retailing, and a cluster-based expansion model.

Financial highlights

• Q1 FY26 revenue reached ₹379.02 crore, up 41.8% year-over-year from ₹267.29 crore, with gross margin improving to 42.07%.

• EBITDA for Q1 FY26 was ₹57.13 crore, a 200% increase year-over-year; PAT surged to ₹30.06 crore, up from ₹2.09 crore.

• Same-store sales growth (SSG) was 29% for Q1 FY26.

• Sequentially, revenue declined 4.97% from Q4 FY25, but PAT margin improved from 3.39% to 7.93%.

• Basic and diluted EPS for Q1 FY26 stood at Rs. 2.04.

Outlook and guidance

• Targeting 8%-10% annual retail sq ft addition, funded mainly through internal accruals and IPO proceeds.

• Internally targeting 15% top-line growth year-over-year for the next three to five years.

• Gross margin of 42% and EBITDA levels seen as sustainable, with potential for further improvement.

• Inventory days targeted to reduce to 130-135 by FY27.

• Continued focus on omnichannel expansion and leveraging technology for inventory and supply chain management.