Scripscan:Siyaram Silk Mills Ltd
cmp:116
Code:503811
Story:Siyaram Silk Mills sells J Hampstead, Oxembourg, Siyaram MSD and its flagship brand Fabric to Fashion (F2f) brands through both company owned and franchisees.It retails its apparel through a 35,000-strong distributor network pan-India. The company operates three manufacturing units at Silvassa, Daman and Tarapur. The company is also planning to launch two new products – Moretti Italy and Genesis.Moretti Italy is ammonia treated 100% fine cotton shirtings while Genesis is 100% cotton suitings. It expects to clock Rs 50 crore from the sale of these two fabrics in the first year itself. The company is planning to roll out 60 more retail showroom across the country by this fiscal.It currently has 40 showrooms in the country and further 60 showrooms would take the toll to the century mark.The company is also planning to invest Rs 15-crore in upgradation of its manufacturing units at Silvassa, Daman and Tarapur. Siyaram Silk manufactures around 40 lakh metres of fabrics every year.The company is targeting a 40% growth in production, which would help it to attain a 40% swell in revenue from Rs 575 crore to Rs 800 crore by this fiscal.Siyaram is expected to grow by leaps and bounds in both topline and bottomline over the coming few years.It has renewed its contract with M.S Dhoni for further 2 years.The Dhoni factor has helped it a lot in branding. Since its giving ahuge thrust to retail presence, the popularity of Dhoni would help it in reaching customer’s fashion space.Considering all these siyaram silk is a great buy.Cheap valuations,expansion and aggresive management helps in having more confidence and conviction over the company.
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Thursday, October 29, 2009
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