Siyaram Silk Mills Q2 Results | Profit up 11% to ₹68 crore, declares dividend and bonus preference shares

Domestic textiles player Siyaram Silk Mills Ltd on Saturday (October 26) reported an 11.3% year-on-year (YoY) increase in net profit at ₹68.2 crore for the second quarter that ended September 30, 2024.

In the corresponding quarter of the previous fiscal, Siyaram Silk Mills posted a net profit of ₹61.3 crore, the company said in a regulatory filing. The company’s revenue from operations was up 3.7% to ₹608 crore as against ₹586 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rises 1.1% to ₹89 crore in the second quarter of this fiscal over ₹88 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 14.6% in the reporting quarter as compared to 15% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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The company declared the first interim dividend of ₹4 per equity share on the paid-up equity shares of ₹2 each, for the financial year 2024-25. The interim dividend will be credited on or after 14th November 2024 to such shareholders as on Record Date i.e. 6th November 2024.

Siyaram Silk Mills has approved a Scheme of Arrangement, which outlines the issuance and allotment of bonus preference shares to its equity shareholders. As per the scheme, the company will issue preference shares in two series—Series I and Series II—to existing equity shareholders.

The results came after the close of the market hours. Shares of Siyaram Silk Mills Ltd ended at ₹534.00, down by ₹4.40, or 0.82% on the BSE.

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