Sai Silks (Kalamandir) Limited convened a Board of Directors meeting on May 16, 2025, during which key financial decisions were taken, including the approval of audited results for the fourth quarter and the full financial year ended March 31, 2025. The meeting commenced at 12.30 P.M. and concluded at 4.20 P.M.

Board Approves FY2024-25 Audited Financial Results

The Board of Directors approved the audited financial results for the fourth quarter and the financial year ended March 31, 2025, along with the audited financial statements for FY2024-25. The approval was made in compliance with Regulation 33 of the applicable listing regulations, fulfilling the company's statutory disclosure obligations to the stock exchanges.

Final Dividend Recommended for FY2024-25

In addition to the financial results, the board recommended a final dividend for the financial year 2024-25. The key details of the dividend recommendation are outlined below:

The recommended final dividend of Rs. 1.00 per equity share represents 50% of the nominal face value of Rs. 2.00 per equity share. The dividend recommendation is subject to shareholder approval as per applicable regulatory requirements.

Key Outcomes of the Board Meeting

The following matters were decided at the board meeting held on May 16, 2025:

• Approval of audited financial results for Q4 and the financial year ended March 31, 2025
• Approval of audited financial statements for FY2024-25
• Recommendation of a final dividend of Rs. 1.00 per equity share (50% of face value of Rs. 2.00) for FY2024-25

The disclosures were communicated to BSE Limited and the National Stock Exchange of India Limited in accordance with listing obligations. The intimation was signed by M.K. Bhaskara Teja, Company Secretary & Compliance Officer of Sai Silks (Kalamandir) Limited.

Sai Silks (Kalamandir) Limited has filed its Monitoring Agency (MA) report for the quarter ended March 31, 2026, pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report was prepared and submitted by CARE Ratings Limited, the appointed Monitoring Agency, and was signed by Y. Tejeswari Reddy, Associate Director, on May 12, 2026. The filing covers the utilisation status of proceeds from the company's Initial Public Offering conducted during September 20–22, 2023.

IPO Issue Details

The IPO was a public fresh issue of equity shares, with the company offering 2,70,27,027 equity shares at Rs.222 per share, aggregating to Rs.600 crore. The issue was fully subscribed, and the same number of equity shares was allotted to applicants. After accounting for issue-related expenses, the net proceeds available for utilisation stood at Rs.566.24 crore. The following table summarises the key financial parameters of the issue:

Utilisation of Net Proceeds as of March 31, 2026

As of March 31, 2026, a cumulative amount of Rs.526.85 crore had been utilised out of the total net proceeds of Rs.566.24 crore, leaving Rs.39.38 crore unutilised. The following table details the progress against each stated object:

During Q4FY26 alone, Rs.65.41 crore was utilised across the various objects. Under Object 1, three new stores were opened during the quarter, taking the total to 25 stores set up using IPO funds. Payments under Object 2 were made to various vendors towards setting up a warehouse through the monitoring account. Objects 4 (loan repayment) and 5 (GCP) were reported as fully utilised.

Deviations and Reallocation of Funds

The Monitoring Agency noted that utilisation was not entirely as per the disclosures in the Offer Document, citing the following key observations:

• Timeline deviation: There has been a deviation in the timelines for utilisation of funds under Objects 1 and 2. The Board of Directors has approved an extension of timelines for a further six months, i.e., up to September 30, 2026.
• Reallocation: An amount of Rs.2.36 crore, originally earmarked under Object 1 (setting up of 30 new stores), was utilised towards Object 3 (working capital requirements), following Board approval. This arose from savings of Rs.24.82 crore achieved through better negotiations and lower costs in Tier 2 and Tier 3 cities.
• No material deviation: The deviation in the amount spent towards Object 3 is within 10% as of March 31, 2026, and shareholder approval was therefore not required.
• Revised means of finance: The means of finance for Objects 1 and 3 have been revised; however, the overall proceeds allocated towards the objects specified in the IPO document remain unchanged at Rs.566.24 crore.
• Major deviation vs. earlier report: The revision in funding towards Objects 1 and 3 was not envisaged at the time of the earlier monitoring report for Q3FY26.

The Monitoring Agency also noted a delay in utilisation of funds towards setting up new stores, warehouses, and towards general corporate purposes relative to the timelines stated in the Offer Document.

Deployment of Unutilised Proceeds

The remaining unutilised funds of Rs.39.38 crore were deployed as follows as at the end of the quarter:

Statutory Approvals and Compliance

Sai Silks (Kalamandir) confirmed to the Monitoring Agency that all requisite approvals required for a warehouse and 25 stores opened with IPO funds are in place. The CA certificate relied upon for this report was issued by Sagar & Associates, dated April 11, 2026. The Monitoring Agency clarified that it does not perform an audit and undertakes no independent verification of information or certifications received, and that its report is based on information provided by the issuer and sources believed to be accurate and reliable.