Siyaram Silk Mills

Last updated
Siyaram Silk Mills Ltd.
Siyaram's
Company type Public
Industry Textile and garment manufacture, Fashion
Founded1978;47 years ago (1978)
Headquarters
Mumbai
,
India
Area served
 India, Middle East, Sri Lanka
Key people
  • Ramesh Poddar (Chairman & Managing Director)
  • Pawan Poddar (Joint MD)
  • Kishan Poddar (Executive Director)
  • Gaurav Poddar (ED)
Brands
  • Tessio
  • Mozzo
  • Inspiro
  • Oxemberg
  • J Hampstead
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]

Contents

Structure

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]

Product line

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.

References

  1. 1 2 Hrithik Kiran Bagade, SV Krishnamachari (26 Feb 2013). "Womenswear to propel Siyaram's topline growth". Deccan Herald. Retrieved 26 Feb 2013.
  2. 1 2 3 4 5 6 Rajesh Naidu. Consistent Siyaram’s an attractive option for investors. ET Bureau, Times Internet Limited (Times of India)
  3. 1 2 "Siyaram Silk Mills: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Siyaram Silk Mills - NDTV". www.ndtv.com.
  4. ↑ Siyaram, Contact Us. "Siyaram - Contact Us". www.siyaram.com.{{cite web}}: |first1= has generic name (help)
  5. ↑ Govind Rubber Limited Announced Business Expansion Plan. India PRwire July 19, 2012
  6. ↑ "SIYSIL Share Price - 287.00 INR, Siyaram Silk Mills stock price today, Live updates - The Economic Times". economictimes.indiatimes.com.
  7. ↑ "Siyaram's expanding aggressively using the franchising module". Rediff News. Rediff. 10 Oct 2014. Retrieved 10 Oct 2014.
  8. ↑ "Siyaram plans to enter home furnishing". www.thehindubusinessline.com.
  9. 1 2 "Siyaram's expanding aggressively using the franchising module". Indian Television. 5 November 2014. Retrieved 5 November 2014.
  10. ↑ "Interview with Shri Ramesh Poddar, MD of Siyaram Silk Mills Ltd". www.textilevaluechain.com.
  11. ↑ "Siyaram launches 'Featherz' brand". Economic Times. Indiatimes. 29 Dec 2004. Archived from the original on March 5, 2016. Retrieved 29 Dec 2004.
  12. ↑ Sangeetha G. "Siya". www.mydigitalfc.com. My Digital FC (Financial Chronicle). Retrieved 4 March 2013.
  13. ↑ PTI. "Siyaram announces joint venture with Italian lifestyle brand Cadini". economictimes.indiatimes.com. Economic times. Archived from the original on March 5, 2016. Retrieved 24 September 2015.
  14. ↑ BS Reporter. "Siyaram Silk Mills buys rights of Italian brand Cadini". www.business-standard.com/. Business Standard. Retrieved 24 September 2015.
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