Siyaram Silk Mills – Key Beneficiary Of The Unorganised To Organised Shift In A Highly Fragmented Textile, Apparel Industry: HDFC Securities


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HDFC Securities Retail Research

Siyaram Silk Mills Ltd. sells its products under multiple brands that enjoy high recall value with consumers. They include brand names such as Siyaram, J Hampstead, Oxemberg, and Cadini.

It is one of the largest poly viscose blended fabric players in India. The company has an extensive distribution network that permeates India, giving an aspiring yet underserved vast population ready access to high-quality fabrics and apparel at attractive price points.

This makes Siyaram Silk Mills’ brands the preferred choice in India’s fast-growing yet untapped market. It is backed by highly integrated and state-of-the-art manufacturing and retailing capabilities.

Siyaram Silk Mills has one of the most prudent capital allocation track record in the textile and apparel space in India. Despite the Covid-19 pandemic related turmoil, it operated at a net debt/equity of 0.2 times as on FY22.

It has been in a constant endeavour to establish itself as an asset light and a pure branded fabric and apparel player in the highly commoditised and working capital intensive textile industry.

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