Sai Silks (Kalamandir) (KALAMANDIR) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue from operations was INR 375 crore, nearly flat compared to INR 379 crore in Q1 FY26, reflecting weak consumer demand due to Adhik Maasam and broader discretionary spending softness.

• Operates 83 stores across 24 cities in South India, focusing on ethnic wear and value fashion with five differentiated brand formats.

• Strong omnichannel presence, serving customers both offline and online, with significant e-commerce reach across 25 states and 6 UTs.

• Cluster-based expansion strategy enables efficient management and targeted customer engagement.

• Unaudited financial results for the quarter ended June 30, 2026, were approved and reviewed by the Board and statutory auditors.

Financial highlights

• Revenue from operations for Q1 FY27 was ₹375.08 crore, down 1.04% year-over-year and 10.50% sequentially from Q4 FY26.

• Gross margin for Q1 FY27 was approximately 42%, nearly flat year-over-year and sequentially.

• EBITDA for Q1 FY27 was ₹51.85 crore (13.83% margin), down 9.23% year-over-year and 15.30% sequentially.

• Net profit for Q1 FY27 stood at ₹20.87 crore, compared to ₹32.65 crore in Q1 FY26 and ₹25.64 crore in Q4 FY26.

• Same-store sales declined by 7.5%-7.8% year-over-year, mainly driven by KLM Fashion Mall's performance in Telangana.

Outlook and guidance

• Full-year revenue growth guidance remains at 12%-15%, with expectations of improved EBITDA margins and positive SSSG for FY27.

• Net retail space addition target is approximately 1 lakh sq ft for FY27, with possible upside depending on Q4 execution.

• Focus on leveraging technology, expanding omnichannel capabilities, and maintaining a cluster-based expansion model to drive future growth.

• Management expects demand to recover in the festive and wedding-heavy H2, with additional wedding dates and Dussehra shifting to Q3.

• Continued emphasis on innovative design, inventory management, and customer experience to sustain competitive advantage.