Siyaram Silk Mills Limited shareholders approved a final dividend of ₹5 per share (250%) for the financial year ended March 31, 2026, during its 48th Annual General Meeting (AGM) held on August 1, 2026. The resolution, which also confirmed interim dividends including a special dividend paid earlier, passed with overwhelming support, reflecting strong shareholder confidence in the company’s capital distribution strategy.

The AGM was conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) directives and Securities and Exchange Board of India (SEBI) regulations. Ramesh Poddar, Chairman and Managing Director, chaired the meeting, while Gaurav Poddar, President and Executive Director, addressed shareholder queries. Prasen Naithani of P. Naithani & Associates served as the independent scrutinizer for the e-voting process.

Key Resolutions Passed

Shareholders voted on four ordinary resolutions, all of which were passed with requisite majority. Voting was conducted via remote e-voting from July 29 to July 31, 2026, and through InstaPoll during the AGM on August 1, 2026. The record date for voting eligibility was July 25, 2026.

Pawan D. Poddar (DIN: 00090521), who retired by rotation, offered himself for reappointment as a Director. His reappointment received near-unanimous support, with only 157 votes cast against out of over 31.5 million votes polled.

Auditor and Compliance Details

The company ratified the remuneration of ₹6,00,000 payable to M/s. K. G. Goyal & Associates, Cost Accountants (FRN 000024), as Cost Auditors for the financial year ending March 31, 2027. This resolution passed with 99.9985% support, with 471 votes against.

The Statutory Auditors’ Report and Secretarial Auditors’ Report contained no adverse remarks, as noted by the Chairman during the proceedings. National Securities Depository Limited (NSDL) facilitated the e-voting platform, ensuring secure and transparent vote casting for all eligible shareholders.

What the Numbers Show

The high participation rate in remote e-voting—particularly among promoter and institutional investors—underscores robust engagement with corporate governance processes. Promoter group shareholders held 30,598,404 shares and voted in favor of all resolutions with 100% support. Institutional investors also showed unanimous backing for key agenda items, while non-institutional public shareholders contributed to the overall consensus with minimal dissent.

The final dividend payment is scheduled for on or after August 7, 2026, within the statutory time limit. The total number of shareholders on the record date was 46,505, with 79 participants attending the virtual AGM.

Siyaram Silk Mills reported a standalone net profit of ₹112 million for the quarter ended June 30, 2026, marking a 144% year-on-year increase from ₹46 million in Q1FY26. Total income grew 16.4% to ₹4,663 million, while revenue from operations stood at ₹4.4 billion compared to ₹3.88 billion in the year-ago period. However, EBITDA declined to ₹182 million from ₹207 million year-on-year, with the EBITDA margin contracting to 4.1% from 5.33%, reflecting cost pressures during the quarter.

The Board of Directors approved the unaudited financial results on July 30, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory Auditors M/s. Jayantilal Thakkar & Co., Chartered Accountants, issued their review report on the financial statements. The company also confirmed that its Scheme of Arrangement, sanctioned by the National Company Law Tribunal (NCLT), Mumbai Bench, remains effective.

Financial Performance

Siyaram Silk Mills delivered a mixed set of results, with strong bottom-line growth contrasting with EBITDA pressure. Standalone total income rose to ₹4,663 million from ₹4,005 million in the corresponding period last year, while revenue from operations increased to ₹4.4 billion from ₹3.88 billion. Despite the top-line growth, EBITDA declined to ₹182 million from ₹207 million year-on-year, and the EBITDA margin narrowed by 123 basis points to 4.1% from 5.33%. Profit before tax surged 128.1% to ₹146 million from ₹64 million. The bottom-line PAT margin improved to 2.4% from 1.1%, while earnings per share (EPS) increased to ₹2.48 from ₹1.01.

The revenue mix was led by Fabric at 71%, followed by Garments at 19% and Yarn & Others at 10%. This diversification helped cushion the impact of moderation in wedding and occasion-led consumption due to the Adhik Maas period. Other income contributed ₹217 million, including interest collection from debtors of ₹79.4 million and mark-to-market gains on investments of ₹74.6 million.

Retail Expansion

The company added 3 ZECODE and 2 DEVO stores in Q1FY27, bringing the total store count to 30 ZECODE outlets and 19 DEVO outlets. Management reaffirmed its plan to reach approximately 70 stores across both brands by FY27, funded entirely through internally generated cash flows. The investor presentation highlighted active engagement on social media and digital platforms to reach a wider audience, alongside strategic placement in high-footfall areas.

Key Takeaways

The significant jump in net profit was supported by top-line growth and other income, even as EBITDA came under pressure with the margin contracting to 4.1% from 5.33% year-on-year. The doubling of the PAT margin from 1.1% to 2.4% underscores the contribution of non-operating income to the bottom line during the quarter. Executive Director Gaurav Poddar noted that consumers adopted a value-conscious approach, yet the strong brand portfolio maintained steady progress. As the festive season approaches, management anticipates an improvement in consumer demand and spending sentiment.