Financial Performance Summary

Key Standalone Financial Results (₹ in Million):

| Particulars | Q1 FY27 | Q1 FY26 | YoY % | Q4 FY26 | QoQ % |

| Revenue from Operations | 1,475.90 | 1,447.71 | 1.9% | 1,335.33 | 10.5% |

| EBITDA (Excluding Other Income) | 78.03 | 89.83 | (13.1%) | 42.36 | 84.2% |

| EBITDA Margin | 5.29% | 6.20% | (92) Bps | 3.17% | 211 Bps |

| PAT | 66.05 | 63.52 | 4.0% | 33.35 | 98.1% |

| PAT Margin | 4.48% | 4.39% | 9 Bps | 2.50% | 198 Bps |

| EPS (₹) | 1.70 | 1.61 | 5.6% | 0.82 | 107.3% |

Performance Analysis

Revenue Trends:

  • Revenue from Operations stood at ₹1,475.90 million in Q1 FY27, showing a 1.9% year-over-year increase from ₹1,447.71 million in Q1 FY26
  • Sequential growth of 10.5% over Q4 FY26 revenue of ₹1,335.33 million

Profitability Metrics:

  • EBITDA (Excluding Other Income) declined by 13.1% YoY to ₹78.03 million from ₹89.83 million in Q1 FY26
  • EBITDA Margin contracted by 92 basis points to 5.29% from 6.20% in Q1 FY26
  • PAT increased by 4.0% YoY to ₹66.05 million from ₹63.52 million in Q1 FY26
  • PAT Margin improved by 9 basis points to 4.48% from 4.39% in Q1 FY26
  • EPS stood at ₹1.70, representing a 5.6% increase from ₹1.61 in Q1 FY26

Management Commentary & Strategic Updates

Mr. Rajesh Dulhani, Chairman & Executive Director, commented on the performance:

Business Strengths:

  • The company's extensive wholesale network, diversified supplier base, and strong market presence continue to underpin business momentum
  • The retail initiative represents an important strategic step in building a direct consumer-facing presence alongside wholesale leadership

Operational Challenges:

  • Margins remained under pressure from elevated procurement costs
  • Restoring margins is identified as the foremost operating priority

Sourcing Strategy Evolution:

  • The Surat purchase office has served its purpose in improving sourcing efficiency and deepening vendor engagement
  • The company may gradually scale down the Surat office over time as part of a natural evolution of sourcing approach

Balance Sheet & Financial Position:

  • The company maintains a debt-free balance sheet
  • Healthy liquidity position
  • Disciplined approach to working capital management

Outlook & Guidance:

  • Expects demand conditions to remain measured, reflecting continued caution in consumer spending
  • Q2 and Q3 FY27 performance may not be strictly comparable YoY due to Diwali falling in a different month compared to FY26
  • Focus areas include operational efficiency, customer and supplier relationships, product portfolio expansion, efficient working capital management, optimum fund allocation, and retail presence

Company Overview

Saraswati Saree Depot Limited is one of India's leading organized players in the wholesale (B2B) trade of sarees and women's ethnic wear with heritage dating back to 1966. The company's product range includes:

  • Sarees
  • Kurtis
  • Dress materials
  • Blouse pieces
  • Lehengas
  • Other ready-made ethnic wear

Sourcing Network: Products are sourced from thousands of weavers and manufacturers across textile hubs including:

  • Surat
  • Varanasi
  • Mau
  • Madurai
  • Dharmavaram
  • Kolkata
  • Bengaluru

Market Presence: Supplies to an extensive, pan-India network of retailers. The company is listed on both BSE (Scrip Code: 544230) and NSE (Symbol: SSDL).