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The buyback price represents a 22.31% premium to Thursdays closing price of Rs 588.65 on the BSE.The company has also reduced the maximum number of equity shares proposed to be bought back from 16,61,530 shares to 14,99,992 shares, representing 3.20% of the total paid-up equity shares of the company.The decision was taken by the companys buyback committee at its meeting held on Thursday.Siyaram Silk has fixed Monday, 18 September 2023 as the record date for its share buyback. The company had announced the buyback on 12 August 2023.Mumbai-based Siyaram Silk Mills is a well-known brand and marketer of fabrics, readymade garments, and textile products. The company offers high-quality fabrics and apparel made from various blends such as poly viscose, cotton, wool, linen, bamboo, and stretch. They operate a chain of retail stores and sell their products under popular brand names like Siyaram, J. Hampstead, Oxemberg, and Cadini.The company reported 67.6% decline in consolidated net profit to Rs 9.99 crore on 11.1% fall in net sales to Rs 355 crore in Q1 FY24 over Q1 FY23.The counter hit a 52-week high of Rs 633.80 on the BSE.

Siyaram Silk hits 52-week high on raising buyback price to Rs 720/share

Siyaram Silk Mills increased the share buyback price to Rs 720 per equity share from Rs 650.

Siyaram Silk Mills hits record high on raising share buyback price

Considering the strong momentum, the index is likely to march towards 20,000 milestone in coming days, provided its holds 19,700-19,800 area, while the crucial support remains at 19,600-19,500 levels, experts said

Top 10 trading ideas for next 3-4 weeks as bulls charge Nifty towards 20,000 mark

Siyaram Silk Standalone June 2023 Net Sales at Rs 353.75 crore, down 11.11% Y-o-Y

Siyaram Silk Consolidated June 2023 Net Sales at Rs 355.00 crore, down 11.06% Y-o-Y

Siyaram Silk Consolidated March 2023 Net Sales at Rs 695.43 crore, up 10.69% Y-o-Y

Siyaram Silk Standalone March 2023 Net Sales at Rs 694.78 crore, up 10.63% Y-o-Y

Profit before tax stood at Rs 68.19 crore in Q3 FY23, down 25.6% from Rs 91.62 crore posted in the corresponding quarter previous year.Total expenses fell 7.6% to Rs 426.31 crore in quarter ended 31 December 2022. Cost of materials consumed was at Rs 244.55 crore (down 2% YoY) and employee benefit expenses stood at Rs 44.25 crore (up 3.6% YoY) during the quarter.The companys board declared second interim dividend of Rs 3 per equity share for the Financial Year 2022-23. Siyaram Silk Mills is a marketers of fabrics, readymade garments and other textiles products. In addition, the company operates and franchises a chain of retail stores, which offer menswear fashion fabrics, apparel, and accessories. Ace investor Vijay Kedia picked up a stake in fabric and garment manufacturer during the third quarter of FY23. As per the shareholding disclosure for the third quarter ended December 2022, Vijay Kedia held about 5 lakh shares, or 1.07% equity, of Siyaram Silk Mills. Kedia did not hold any stake in the company during the previous quarter of July-September 2022 period.Among other prominent shareholders, DSP Small Cap Fund holds 2.23% stake while Sunil Singhanias Abakkus Emerging Opportunities Fund-1 has 2.11% stake in the fabric manufacturer as on December 2022.Promoter & promoter group hold 67.18% stake in the company. 

Siyaram Silk tumbles after Q3 PAT slides 24% YoY

Siyaram Silk Consolidated December 2022 Net Sales at Rs 502.18 crore, down 10.83% Y-o-Y

Siyaram Silk Mills will hold a meeting of the Board of Directors of the Company on 28 January 2023.

Siyaram Silk Mills schedules board meeting

Siyaram Silk Mills Ltd. engages in the business of manufacturing and marketing textile products. Its product portfolio consists of yarns, home furnishing, retail, ready to use and fabrics. The company was founded on June 29, 1978 and is headquartered in Mumbai, India.

Watchers	28
52-Wk Low	399.30
52-Wk High	635.00

Market Cap	27.37B
Volume (M)	88,647.00
52-Wk High	635.00
52-Wk Low	399.30

SIYSIL.NSE Siyaram Silk Mills Ltd.

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