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Siyaram's | |
Company type | Public |
Industry | Textile and garment manufacture, Fashion |
Founded | 1978 |
Headquarters | , India |
Area served | India, Middle East, Sri Lanka |
Key people |
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Brands |
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Number of employees | 650 (2013) |
Siyaram Silk Mills Ltd, also known as Siyaram's or SSM, [1] is an Indian blended fabric and garment manufacturing company, [2] with an associated chain of retail outlets and branded showrooms. Siyaram's was incorporated in 1978, [3] and is headquartered in the Kamala Mills compound, Lower Parel, Mumbai. [4]
Siyaram Silk Mills Ltd (SSM) is a subsidiary of the Siyaram Poddar Group, the parent company of Balkrishna Industries Ltd and Govind Rubber Ltd, which are all listed companies on the Bombay Stock Exchange. [5] SSM is a small-cap company with a market capitalization of ₹936.75 crores. [6] Siyaram manufactures and sells fabrics, [7] ready-made men's and women's apparel, home furnishings, and yarns. [1] [3] [8] [9] SSM is associated with one lakh retail outlets, [2] and has over 170 branded showrooms across the nation. [9] In the March 2014 quarter, the company's annualized net profit was ₹20.2 crores. [2] Siyaram produces over 4 million meters of fabric per month, totalling over 60 million meters annually. [10]
According to the Economic Times, polyester viscose which is derived from crude oil, accounts for approximately 85% of Siyaram's raw material. [2] In 2014, Siyaram reported 80% of its revenue came from fabric sales, 16% from garments, and 4% from yarn. [2] Siyaram's weaving capacity is approximately 8 crore metres, and its garment production capacity is around 40 lakh pieces annually. [2]
Like some other textile manufacturers, Siyaram's has expanded into the ready-made garment (RMG) sector. Starting in 2004, [11] the company introduced product lines including home furnishings, uniforms, children's apparel, and women's clothing. [12]
On 24 September 2015, Siyaram's Silk Mills announced a partnership with Italian brand Cadini [13] [14] , at an event held at Sahara Star in Mumbai.
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