Stock Analysis Report

Executive Summary

Siyaram Silk Mills Limited manufactures and sells fabrics and readymade garments in India.

Snowflake Analysis

Excellent balance sheet, good value and pays a dividend.

Similar Companies

Share Price & News

How has Siyaram Silk Mills's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: 503811 has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




IN Luxury


IN Market

1 Year Return




IN Luxury


IN Market

Return vs Industry: 503811 underperformed the Indian Luxury industry which returned 12.8% over the past year.

Return vs Market: 503811 underperformed the Indian Market which returned 5.2% over the past year.

Shareholder returns

7 Day-0.6%-4.4%-3.5%
30 Day-1.9%-1.4%-3.9%
90 Day-3.5%6.0%-2.1%
1 Year-31.4%-33.6%13.5%12.8%7.2%5.2%
3 Year-29.7%-33.4%45.8%44.0%18.9%12.4%
5 Year30.1%20.9%97.3%93.7%29.4%17.7%

Price Volatility Vs. Market

How volatile is Siyaram Silk Mills's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Siyaram Silk Mills undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 503811 (₹222.8) is trading below our estimate of fair value (₹325.23)

Significantly Below Fair Value: 503811 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 503811 is poor value based on its PE Ratio (11.2x) compared to the Luxury industry average (10.6x).

PE vs Market: 503811 is good value based on its PE Ratio (11.2x) compared to the Indian market (13x).

Price to Earnings Growth Ratio

PEG Ratio: 503811 is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: 503811 is overvalued based on its PB Ratio (1.3x) compared to the IN Luxury industry average (0.5x).

Next Steps

Future Growth

How is Siyaram Silk Mills forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 503811's forecast earnings growth (14.5% per year) is above the savings rate (6.5%).

Earnings vs Market: 503811's earnings (14.5% per year) are forecast to grow slower than the Indian market (20.4% per year).

High Growth Earnings: 503811's earnings are forecast to grow, but not significantly.

Revenue vs Market: 503811's revenue (6.3% per year) is forecast to grow slower than the Indian market (9% per year).

High Growth Revenue: 503811's revenue (6.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 503811's Return on Equity is forecast to be low in 3 years time (12.8%).

Next Steps

Past Performance

How has Siyaram Silk Mills performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 503811 has high quality earnings.

Growing Profit Margin: 503811's current net profit margins (5.1%) are lower than last year (5.5%).

Past Earnings Growth Analysis

Earnings Trend: 503811's earnings have grown by 6.8% per year over the past 5 years.

Accelerating Growth: 503811's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 503811 had negative earnings growth (-6.8%) over the past year, making it difficult to compare to the Luxury industry average (6.4%).

Return on Equity

High ROE: 503811's Return on Equity (11.9%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is Siyaram Silk Mills's financial position?

Financial Position Analysis

Short Term Liabilities: 503811's short term assets (₹9.9B) exceed its short term liabilities (₹5.9B).

Long Term Liabilities: 503811's short term assets (₹9.9B) exceed its long term liabilities (₹2.4B).

Debt to Equity History and Analysis

Debt Level: 503811's debt to equity ratio (60.6%) is considered high.

Reducing Debt: 503811's debt to equity ratio has reduced from 74.3% to 60.6% over the past 5 years.

Debt Coverage: 503811's debt is well covered by operating cash flow (40.5%).

Interest Coverage: 503811's interest payments on its debt are well covered by EBIT (6.2x coverage).

Balance Sheet

Inventory Level: 503811 has a high level of physical assets or inventory.

Debt Coverage by Assets: 503811's debt is covered by short term assets (assets are 2.1x debt).

Next Steps


What is Siyaram Silk Mills's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: 503811's dividend (1.97%) is higher than the bottom 25% of dividend payers in the Indian market (0.61%).

High Dividend: 503811's dividend (1.97%) is low compared to the top 25% of dividend payers in the Indian market (2.67%).

Stability and Growth of Payments

Stable Dividend: 503811's dividend payments have been volatile in the past 10 years.

Growing Dividend: 503811's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.2%), 503811's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: 503811's dividends in 3 years are forecast to be well covered by earnings (18.3% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Rameshkumar Poddar (67yo)



Mr. Rameshkumar Dharaprasad Poddar has been the Chairman of Siyaram Silk Mills Ltd. since May 2012 and serves as its Managing Director. Mr. Poddar is an Industrialist with vast experience in Textile and Ru ...

CEO Compensation Analysis

Compensation vs Market: Rameshkumar's total compensation ($USD693.43K) is above average for companies of similar size in the Indian market ($USD50.10K).

Compensation vs Earnings: Rameshkumar's compensation has been consistent with company performance over the past year.

Board Members

Rameshkumar Poddar
Chairman & MD0yrs₹49.64m8.94% 939.0m
Pawan Kumar Poddar
Joint MD & Director31.1yrs₹41.53m1.67% 175.2m
Ashok Kumar Jalan
Senior President cum Director13.2yrs₹6.71m0.0013% 131.3k
Gaurav Poddar
President & Executive Director7.5yrs₹30.97m4.36% 457.7m
Shrikishan Poddar
Executive Director30.3yrs₹38.80m3.66% 384.9m
Harish Motiwalla
Non-Executive & Independent Director8.8yrs₹1.03m0.00027% 28.4k
Shailesh Vaidya
Non-Executive & Independent Director14.3yrs₹275.00kno data
Pramod Jalan
Non-Executive & Independent Director11.1yrs₹225.00kno data
Dileep Shinde
Non-Executive & Independent Director11.1yrs₹525.00kno data
Mangesh Teli
Non-Executive & Independent Director15.7yrs₹475.00kno data


Average Tenure


Average Age

Experienced Board: 503811's board of directors are seasoned and experienced ( 12.1 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Siyaram Silk Mills Limited's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Siyaram Silk Mills Limited
  • Ticker: 503811
  • Exchange: BSE
  • Founded: 1978
  • Industry: Textiles
  • Sector: Consumer Durables
  • Market Cap: ₹10.504b
  • Shares outstanding: 46.87m
  • Website:

Number of Employees


  • Siyaram Silk Mills Limited
  • B-5, Trade World
  • 5th Floor
  • Mumbai
  • Maharashtra
  • 400013
  • India


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SIYSILNSEI (National Stock Exchange of India)INR2ININRNo data
503811BSE (Mumbai Stock Exchange)INR2ININRNo data
503811BSE (Mumbai Stock Exchange)YesEquity SharesININROct 2001
SIYSILNSEI (National Stock Exchange of India)YesEquity SharesININROct 2001


Siyaram Silk Mills Limited manufactures and sells fabrics and readymade garments in India. The company offers fabrics, including polyester viscose, polyester viscose linen and lycra, polyester rayon and cotton, polyester wool, polyester wool lycra, wool lycra and linen, wool, cotton, linen, and cotton linen fabrics; and CVC and PC yarn-dyed shirtings. It also provides formal and casual ready to wear garments; home furnishing fabrics, such as curtains and upholstery fabrics; womenswear comprises salwar kameez and dupatta materials; dyed yarns; and basic, corporate, and school uniforms. In addition, the company operates and franchises a chain of retail stores, which offer men’s fashion fabrics, apparels, and accessories under the Siyaram’s Shop name; and exports its products to the United States, the United Kingdom, France, South East Asia, Australia, and Latin America. The company sells its products under the Siyaram’s Suitings and Shirtings, Mistair, Moretti, Royale Linen, Miniature, Little Champ, Unicode, J. Hampstead, Oxemberg, Siya, Cadini, and Casa Moda brand names. Siyaram Silk Mills Limited was founded in 1978 and is based in Mumbai, India. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/27 12:36
End of Day Share Price2020/02/27 00:00
Annual Earnings2019/03/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.