Siyaram Q1 profit rises marginally at Rs 10.73 cr

Siyaram Silk Mills in its financial results for the period

ended June 30, 2013 has reported that its net sales/income from operations stood at Rs 251.08 crores for the quarter against Rs 205.61 crores in the same quarter in 2012. The net profit/(loss) was at Rs 10.73 crores for the quarter compared to Rs 10.31 crores for the quarter ended June 30, 2012.

The company reported an EPS of Rs 11.45 for the quarter as compared to Rs 11 for the quarter ended June 30, 2012. In a separate filing, Siyaram has said its board has constituted a committee to consider and approve issue and allotment of 1,968 forfeited equity shares to the promoters/promoter group at a minimum issue price of Rs 259.76 per equity share of Rs 10 each. Of course, this would be subject to the approval of shareholders at the AGM to be held on August 10, and approvals of all concerned authorities.

Siyaram Silk Mills for over three decades has been catering to young India by making contemporary fashion accessible to the classes and masses. It is a leading fabric manufacturer that boasts of an elite brand portfolio consisting of powerful brands like Siyaram’s, J Hampstead, Mistair, MSD, Oxemberg, Royale Linen and the recently launched Moretti, Free Fall and Victory.