Sai Silks (Kalamandir) has officially opened its 80th store at Konanakunte Cross, Bengaluru, Karnataka on March 09, 2026. The company announced this milestone through a regulatory filing under Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Store Launch Details

The new store operates under the Kalamandir format and represents a significant milestone in the company's retail expansion strategy. The opening was formally communicated to both BSE Limited and National Stock Exchange of India Limited as part of mandatory disclosure requirements.

Regulatory Compliance

The store opening was disclosed through proper regulatory channels, with Company Secretary and Compliance Officer M.K. Bhaskara Teja signing the intimation letter. The disclosure was made to both major stock exchanges where the company's shares are listed - BSE (Scrip Code: 543989) and NSE (Symbol: KALAMANDIR).

Strategic Expansion

This store opening reinforces Sai Silks (Kalamandir)'s commitment to expanding its retail network across Karnataka. The selection of Konanakunte Cross in Bengaluru demonstrates the company's strategy to establish presence in strategic locations within major metropolitan areas, strengthening its position in the South Indian retail market.

Sai silks (kalamandir) Limited reported its Q3FY26 earnings results, showing the impact of festive calendar shifts on quarterly performance while maintaining strong nine-month growth momentum. The ethnic apparel retailer faced headwinds from the timing of Dasara festival, which contributed to lower footfalls compared to the previous year.

Financial Performance Overview

The company's quarterly results reflected the seasonal nature of the ethnic wear business. For Q3FY26 ending December 31, 2025, revenue from operations declined to ₹411.25 crores compared to ₹448.5 crores in the corresponding quarter of the previous year.

Despite the quarterly decline, the company demonstrated strong resilience over the nine-month period. Revenue from operations grew 16.1% year-on-year to ₹1,234 crores compared to ₹1,063 crores in the corresponding period of FY25.

Nine-Month Performance Highlights

The nine-month results showcased the company's operational leverage and improved efficiency. Profit after tax increased significantly by 50% to ₹108 crores compared to ₹71.8 crores in the previous year. The PAT margin expanded to 8.77% from 6.7%, representing a 200 basis point improvement.

Store Expansion Strategy

The company continued its calibrated expansion during Q3FY26, adding approximately 20,500 square feet of retail space. For the nine-month period, it added 11 stores with cumulative retail space of 54,500 square feet. The total retail footprint reached 7.7 lakh square feet as of December 31, 2025.

Management outlined ambitious expansion plans for FY27, targeting 80,000-85,000 square feet compared to the current year's target of 60,000-65,000 square feet. The expansion will focus on the Varamahalakshmi format, which offers better margins and operational efficiency.

Market Expansion Plans

The company is exploring entry into new markets including Maharashtra and Kerala. Management indicated advanced negotiations for locations in Mumbai, Pune, and Nagpur, though rental costs remain a challenge. The strategy involves opening 1-2 stores initially to understand consumer behavior before aggressive expansion.

Format Performance Analysis

The Varamahalakshmi format in Tamil Nadu is currently delivering around ₹37,000-37,500 per square feet with potential to reach ₹45,000 by the end of FY27. The KLM format faced challenges in men's and kids' wear categories during Q3, though sarees remained resilient.

Financial Outlook and Guidance

Management expects to achieve 15% revenue growth for the full year FY26, with the possibility of reaching 18% depending on Q4 performance. For FY27, the company targets 15-20% growth driven by 5% same-store sales growth and 15% contribution from new store additions. The company anticipates 35% PAT growth for FY26 and expects to maintain EBITDA margins of 17-18% for FY27.