Siyaram Silk Mills Limited, producer of blended fabrics in India, reported a 15 % year-on-year rise in profit after tax (PAT) to Rs. 228 crore (US $23.78 million) for FY ’26, driven by improved consumer demand, festive and wedding season spending, and steady retail expansion.
The company, which claims to be the largest producer of blended high-fashion suiting, shirting, and apparel in India, recorded a 16 % year-on-year increase in total income to Rs. 2,653 crore (US $276 million) in FY ’26. EBITDA for the year rose 17% to Rs. 413 crore (US $43.08 million), while the EBITDA margin stood at 15.6%.
For the fourth quarter ended 31st March 2026, the company continued its strong momentum, with total income rising 16.1% to Rs.. 871 crore (US $90.85 million) compared to Rs.. 750 crore (US $78.23 million) in Q4 FY ’25. EBITDA during the quarter increased 21 % to Rs. 152 crore (US $15.85 million) from Rs. 125 crore (US $13.04 million) in the corresponding period last year, while PAT grew 30.6 % to Rs. 95 crore (US $9.91 million) against Rs. 72 crore (US $7.51 million) in Q4 FY ’25. PAT margin also improved to 10.9 % from 9.7 % in the year-ago quarter.
The company stated that fabric remained the largest contributor to Q4 FY ’26 revenue with an 80% share, followed by garments at 15%, while yarn and other segments contributed the remaining 5%.
As part of its ongoing retail expansion strategy, the company expanded its presence to 27 ZECODE outlets and 17 DEVO stores by the end of Q4 FY ’26.
Meanwhile, despite reporting healthy financial performance, the company’s stock has remained under pressure in recent months. The decline in the NSE: SIYSIL share price from its 52-week high of Rs. 848 (US $8.85) has come down to the current level of around Rs. 569 (US $5.94), a correction of nearly 33%.
The decline has largely been attributed to sector-level pressures and broader macroeconomic challenges, including the US tariff on Indian goods, weaker order flows from the United States and Europe, volatility in cotton and synthetic fibre prices during FY ’26, and moderation in domestic demand for premium apparel categories.
“During Q4 FY ’26, consumer demand improved gradually despite global uncertainties, supported by rising disposable incomes and higher spending during the wedding and festive seasons, while the company’s strong brand portfolio and disciplined operations further strengthened performance, said Gaurav Poddar, President & Executive Director, Siyaram Silk Mills.
