Sai Silks Q3 Results: Profit falls 17%, revenue down amid higher costs and softer margins

Sai Silks (Kalamandir) Limited

on Monday, January 19, reported a weaker operating performance for the December quarter, with profit and revenue declining year-on-year amid softer margins.

The ethnic apparel retailer posted a 17.4% fall in net profit to ₹38 crore in Q3FY26, compared with ₹46 crore in the year-ago period. Revenue from operations declined 8.3% to ₹411 crore, down from ₹448 crore a year earlier, reflecting moderation in demand and higher operating costs.

Operating performance also remained under pressure, with EBITDA falling 12.1% year-on-year to ₹69.8 crore from ₹79.4 crore. As a result, EBITDA margin narrowed to 17%, compared with 17.7% in the corresponding quarter last year.

Profit before tax stood at ₹51.1 crore, lower than ₹61.5 crore in Q3FY25, while earnings per share (EPS) declined to ₹2.59, from ₹2.72 a year ago.

For the nine-month period ended December 31, 2025, Sai Silks reported a profit of ₹108.3 crore, compared with ₹85.4 crore in the corresponding period last year, supported by stronger performance in the first half of the financial year. Revenue for the nine months rose to ₹1,234.6 crore, from ₹1,063.2 crore a year earlier.

Sai Silks, which operates brands such as Kalamandir, Varamahalakshmi and KLM Fashion Mall, continues to invest in store expansion and supply chain infrastructure, supported by funds raised through its IPO, even as near-term profitability faces pressure from costs and demand trends.

The stock closed 3.90% higher at ₹129 ahead of the Q3 result announcement on Monday. The stock has fallen 15.55% in the last one month.