Unistone Capital Pvt Ltd
Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women’s apparel.
The company’s primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India. Currently, our product catalog lists more than 300,000 different SKUs. The company majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka, and Tamil Nadu and the company has served more than 13,000 unique customers in fiscal 2024. The company stores offer saree products categorized by occasion, fabric, weave, and ornamentation. Over 90 percent of the company’s revenue comes from saree sales.
For the year/period ended (Rs. in Cr.)
| H1FY24 | FY23 | FY22 | |
|---|---|---|---|
| Total Revenue | 612.58 | 603.52 | 550.31 |
| Profit After Tax | 29.53 | 22.97 | 12.31 |
| EPS | 8.92 | 6.94 | 3.72 |
| OPM (%) | 6.73% | 5.66% | 3.79% |
| PATM (%) | 4.83% | 3.82% | 2.24% |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY23 |
Net Profits(Cr.) FY23 |
|---|---|---|---|---|---|---|
| Saraswati Saree Depot Limited | 633.6 | 160 | 14.97 | 17.93 | 612.58 | 29.53 |
| Go Fashion (India) Ltd. | 6,057.92 | 1,121.65 | 9.58 | 71.15 | 762.83 | 82.78 |
| Sai Silks (Kalamandir) Ltd. | 2,412.45 | 157.3 | 2.27 | 23.92 | 1,373.55 | 100.87 |
1. Funding working capital requirements of the company.
2. General corporate purposes
The company is into textile garmenting business. As on FY24 earnings, the IPO is trading at close to 18x P/E multiple. Hence, Investor may subscribe for long term perspective
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