back to top
HomeSTOCKSQ3 Result, Dividend Declared, Buy Or Sell? Share Target ₹600 And ₹645

Q3 Result, Dividend Declared, Buy Or Sell? Share Target ₹600 And ₹645

textile
Hot Stocks Alert Join

Siyaram Silk Mills Ltd (NSE: SIYSIL) has presented its quarter results. The company’s quarter result of ending March 3rd of the fiscal year 2023-24 have been released in the report.

In the past, there was a decrease in the net profits of the firm. It is also involved with the manufacturing of clothes.

In addition, a seasoned investment guru also has invested in the company.

The company has just released its results from the financial quarter which ended on December 31, 2023. A dividend interim in the amount of 15% has been declared for fiscal year 2024.

Below Are The Final Results

The company reported a 27.49 percent decline in profits when compared to the same quarter. The operating profits of the company during Q3 of Fiscal Year 24 amounted to 502 crore.

EBITDA decreased 9.7 percent to Rs 69 crore during Q3FY24 compared to R 76 crore in Q3FY23. EBITDA margin stood at 13.6% in Q3FY24, compared to 15.1% in Q3FY23. 

PAT decreased 14.9 percent YoY, to Rs 44 crore during Q3FY24, down from 52 crore in Q3FY23. In Q3FY24, the PAT margin stood at 8.8%, compared to 10.4% in Q3FY23.

Low Consumer Demand

Gaurav Poddar, the executive director at Siyaram Silk Mills Limited, stated, “Despite facing low consumer demand and challenging market conditions the company has demonstrated the ability to endure. For financial performance, our operating revenue for Q3FY24 was 5019 million. Marginal rise from 511 million rupees in Q3FY23. Our revenue mix includes Fabrics at 85 percent, Garments at 10% along with Yarn & Others at 5 percent in Q3FY24.”

Interim Dividend

In addition, the Board of Directors has declared an additional interval dividend amounting to Rs 3 (150 percent) for each equity share of equity shares worth Rs. 2 for the fiscal period 2023-24.

On the last trading day of February 2024, the share price was 511 rupees, with a loss of 29.80 rupees (5.51%).

According to the data of BSE for the quarter that ended on December 31st, 2023, the expert investor held 5,05,000 shares of the company in his portfolio which amounts to 1.11 percent of the paid-up and issued capital stock for Siyaram Silk Mills.

Buy Or Sell?

This share is currently trading at Rs 511, displaying an ebb and flow pattern that is in the 486-575 range in the last eight months. This indicates a time of uncertainty or equilibrium in the market.

The lower part of the range at 496 is a solid support level for the weekly timeframe and is in line closely with the daily exponential moving average of 100 days (EMA). A little resistance can be seen in the upper part of the range, at around 570 levels.

Breaking this resistance could provide a way for the market to move towards the next resistance of Rs 600- 645 levels. This is a possible trading opportunity for traders.

About Siyaram Silk Mills Ltd 

Siyaram Silk Mills Limited is an Indian-based textile business. The company is involved in the manufacture branding, marketing, and branding of ready-made clothing, fabrics, and indigo-dyed yarn.

 It has a variety of materials, such as polyester viscose, polyester viscose mix, and polyester viscose Lycra. wool linen, polyester cotton, polyester viscose, wool lycra, wool and more.

It sells indigo yarn including 100% cotton indigo dyed yarn and cotton-poly blend to dye indigo, cotton/lycra dyed yarn and cotton slub yarn dyed yarns, fancy dyed indigo yarn, and viscose/excel/Tencel indigo dyed yarn.

The division for institutional customers is geared towards a variety of markets and offers a wide assortment of clothing, such as formal clothes, casual wear, and uniforms for offices and furniture fabrics for homes.

Fundamental Analysis of Siyaram Silk Mills

Market Cap₹ 2,402 Cr.
Current Price₹ 511
52-wk High₹ 635 
52-wk Low₹ 399
Stock P/E11.8
Book Value₹ 255
Dividend2.15 %
ROCE27.9 %
ROE23.7 %
Face Value₹ 2.00
P/B Value2.01
OPM14.1 %
EPS₹ 43.5
Debt₹ 212 Cr.
Debt to Equity0.18

Siyaram Silk Mills Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹600₹655
2025₹660₹674
2026₹705₹715
2027₹724₹765
2028₹770₹800
2029₹812₹835
2030₹888₹945
Hot Stocks Alert Join

Siyaram Silk Mills Ltd Shareholding Pattern

Promoters Holding
Dec 202267.18%
Mar 202367.18%
June 202367.18%
Sept 202367.18%
Dec 202367.45%
FII Holding
Dec 20222.61%
Mar 20232.04%
June 20232.39%
Sept 20231.91%
Dec 20231.75%
DII Holding
Dec 20224.45%
Mar 20234.85%
June 20234.27%
Sept 20234.42%
Dec 20233.44%
Hot Stocks Alert Join
Public Holding
Dec 202225.74%
Mar 202325.94%
June 202326.14%
Sept 202326.49%
Dec 202327.37%

Siyaram Silk Mills Ltd Share: Last 5 Years’ Financial Condition

To better understand how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 1,815 Cr
2020₹ 1,698 Cr
2021₹ 1,088 Cr
2022₹ 1,903 Cr
2023₹ 2,136 Cr

Last 5 Years’ Net Profit:

2019₹ 101 Cr
2020₹ 72 Cr
2021₹ 5 Cr
2022₹ 213 Cr
2023₹ 204 Cr
Hot Stocks Alert Join

Last 5 Years’ Debt-To-Equity Ratio:

20190.55
20200.46
20210.1
20220.23
20230.13

Last 10 Years’ Profit Growth:

10 Years:16%
5 Years:17%
3 Years:52%
Current Year:-17%

Last 10 years’ Return on Equity (ROE):

10 Years:16%
5 Years:15%
3 Years:17%
Last Year:24%

Sales Growth Over 10 Years:

10 Years:8%
5 Years:5%
3 Years:10%
Current Year:-1%

Conclusion

This article is a complete guide about Siyaram Silk Mills Ltd Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses. 

Also, We have discussed the share’s prospects and growth potential in detail.

This information will help you in your further investment. 

If you are new to our website and want to get all the latest updates related to the stock market, join us on Telegram Group.

If you have any further queries, please comment below. We will be happy to answer all your questions. 

If you like this information, share the article with as many people as possible.

Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. Also, the share price predictions are completely for reference purposes. The price predictions will only be valid when there are positive signs on the market. Any uncertainty about the company’s future or the current state of the market will not be considered in this study. We are not responsible for any financial loss you might incur through the information on this site. We provide timely updates about the stock market and financial products to help you make better investment choices. Do your research before any investment.

BEST FOR YOU

LEAVE A REPLY

Please enter your comment!
Please enter your name here