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,
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.