KALAMANDIRSai Silks (Kalamandir) Ltd.
Sai Silks (Kalamandir) Q2 FY27 Results: Standalone Net Profit ₹31.08 Crore on Total Income of ₹439 Crore
- Earnings
- Textile retail
Reviewed byRachit TripathiBlacklitt Research
Sai Silks (Kalamandir) (NSE: KALAMANDIR) reported standalone total income of ₹438.87 crore and net profit of ₹31.08 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹438.87 crore, down 2.2% YoY and up 15.3% QoQ
- Net profit and EPS: ₹31.08 crore, down 22.5% YoY; basic EPS ₹2.11 against ₹2.72
- Profit before tax: ₹41.45 crore, down 23.8% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 438.87 | 448.84 | -2.2% | 380.77 | +15.3% | |
| Revenue from operations | 434.05 | 444.33 | -2.3% | 375.08 | +15.7% |
| Other income | 4.82 | 4.51 | +6.9% | 5.69 | -15.3% |
| 31.08 | 40.08 | -22.5% | 25.63 | +21.3% | |
| Finance costs | 8.89 | 6.98 | +27.4% | 8.30 | +7.1% |
| Depreciation | 16.07 | 15.14 | +6.1% | 14.84 | +8.3% |
| Tax expense | 10.37 | 14.33 | -27.6% | 8.77 | +18.2% |
| Net profit margin | 7.08% | 8.93% | -1.85 pp | 6.73% | +0.35 pp |
| Tax as share of profit before tax | 25.0% | 26.3% | -1.32 pp | 25.5% | -0.48 pp |
| EPS, basic (₹) | 2.11 | 2.72 | -22.4% | 1.74 | +21.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit before tax fell 23.8%, from ₹54.41 crore to ₹41.45 crore, while revenue from operations fell 2.3%, from ₹444.33 crore to ₹434.05 crore. Net profit fell 22.5%, from ₹40.08 crore to ₹31.08 crore, a smaller fall than the 23.8% in profit before tax. Tax expense was ₹10.37 crore against ₹14.33 crore a year earlier, down 27.6%.
Finance costs rose 27.4%, to ₹8.89 crore from ₹6.98 crore, and depreciation rose 6.1%, to ₹16.07 crore from ₹15.14 crore. Other income was ₹4.82 crore, up 6.9% from ₹4.51 crore.
Against the June quarter, revenue from operations rose 15.7%, from ₹375.08 crore, and net profit rose to ₹31.08 crore from ₹25.64 crore. Total income rose 15.3%, to ₹438.87 crore from ₹380.77 crore. Basic EPS was ₹2.11, against ₹1.74 in the June quarter.
For the six months to 30 Sep 2026, revenue from operations was ₹809.13 crore, down 1.7% from ₹823.35 crore; profit before tax was ₹75.86 crore, down 19.9% from ₹94.65 crore; and net profit was ₹56.73 crore, down 19.1% from ₹70.14 crore.
Inventories rose 17.6%, to ₹959.59 crore from ₹815.93 crore at 31 Mar 2026, and total assets rose 5.8%, to ₹1,956.33 crore from ₹1,848.91 crore. Net cash used in operating activities was ₹29.74 crore for the half year, against net cash generated of ₹180.37 crore a year earlier.
Inference
The board resolved on 03 Nov 2026 to reconsider its 29 Sep 2026 resolution, to use the unutilised ₹20.27 crore earmarked for setting up warehouses for that purpose, and to extend the deadline for that use to 30 Sep 2027. Of the ₹566.24 crore of IPO proceeds to be used as per the prospectus, ₹545.97 crore, or 96.4%, had been used up to 30 Sep 2026.
Dividends paid in the half year were ₹22.05 crore. In the IPO utilisation table, the working capital line shows ₹282.43 crore used against ₹280.07 crore to be used.
What is not known from the results is the reason for the fall in profit before tax and the reason for the negative operating cash flow in the half year.
Filed with BSE on . Reference: Original filing (PDF)
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