About Sai Silks (Kalamandir) Limited

Sai Silks (Kalamandir) Limited (SSKL) is a South India–focused ethnic fashion retailer incorporated in 2008, known especially for sarees and traditional wear. The company’s core business is retail trading of textile goods—premium ethnic fashion, ethnic fashion for middle income consumers, and value-fashion—which accounts for 100% of turnover. Its products are classified as “textile goods” and contribute 100% of sales under statutory reporting. SSKL operates four formats: Kalamandir (flagship), Mandir (premium ethnic and party wear), Kanchipuram Varamahalakshmi Silks (bridal and premium silks) and KLM Fashion Mall (value-fashion for families). As on March 31, 2025, the company runs 68 stores, supported by 2 offices and 4 warehouses in India, with operations across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Pondicherry; it has no international locations and exports are Nil as a percentage of turnover.

Brand heritage includes the launch of Kalamandir in September 2005 to bring organised ethnic retail to the middle and upper‑middle classes, and the introduction of Mandir in February 2011 for handcrafted premium ethnic wear. KLM Fashion Mall, started in 2017, focuses on affordable family fashion. Kanchipuram Varamahalakshmi Silks is the key growth driver for bridal and premium sarees across South India. The company completed a landmark IPO in FY 2023‑24 and is listed on the NSE and BSE; IPO proceeds were earmarked for new stores, warehouses, working capital, debt reduction and general corporate purposes. As on the reporting date, SSKL had no holding, subsidiary or associate companies.

Key Milestones of Sai Silks (Kalamandir) Limited

Brand heritage includes the launch of Kalamandir in September 2005 to bring organised ethnic retail to the middle and upper‑middle classes, and the introduction of Mandir in February 2011 for handcrafted premium ethnic wear. KLM Fashion Mall, started in 2017, focuses on affordable family fashion. The company completed a landmark IPO in FY 2023‑24 and is listed on the NSE and BSE; IPO proceeds were earmarked for new stores, warehouses, working capital, debt reduction and general corporate purposes.

Sai Silks (Kalamandir) Limited Business Verticals and Geographical Presence 

Revenue by category (FY 2024‑25):

• Sarees: 71.49%
• Ladies apparel: 13.33%
• Men’s: 7.81%
• Kids: 6.97%
• Few‑Rasamayi: 0.39%

Revenue by channel (FY 2024‑25):

• Showrooms: 98.74%
• Online: 1.26%

Geography:

• Domestic: 100%
• International: 0% (exports as a percentage of total turnover: Nil)

The company operates 68 stores across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Pondicherry, supported by 2 offices and 4 warehouses in India, with no international locations.

Sai Silks (Kalamandir) Limited Business Segment

SSKL sells ethnic fashion and textile goods, led by sarees, across four retail formats: Kalamandir (flagship), Mandir (premium ethnic and party wear), Kanchipuram Varamahalakshmi Silks (bridal and premium silks) and KLM Fashion Mall (value-fashion for families). In FY 2024‑25, 98.74% of sales were through showrooms and 1.26% online; all revenue was domestic, with exports at 0% of turnover. The company operates 68 stores in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Pondicherry as on March 31, 2025.

Sai Silks (Kalamandir) Limited Key Management

• Ravindra Vikram Mamidipudi – Chairman & Independent Director
• Nagakanaka Durga Prasad Chalavadi – Managing Director
• Kalyan Srinivas Annam – Whole Time Director
• Doodeswara Kanaka Durga Rao Chalavadi – Whole Time Director
• Pramod Kasat – Independent Director
• Venkata Ramakrishna Kunisetty – Independent Director
• Sirisha Chintapalli – Independent Director
• K.V.L.N. Sarma – Chief Financial Officer
• M.K. Bhaskara Teja – Company Secretary & Compliance Officer

Latest Updates on Sai Silks (Kalamandir) Limited

• Store expansion: In FY 2024‑25, SSKL opened eight Kanchipuram Varamahalakshmi Silks stores—Salem (June 14, 2024), Purasaiwakkam (August 22, 2024), Madurai (September 5, 2024), Tadepalligudem (December 14, 2024), Pondicherry (December 20, 2024), Adyar (December 30, 2024), Trichy (January 10, 2025) and Tumakuru (March 19, 2025). The network stood at 68 stores as on March 31, 2025; a post‑year‑end addition at Davanagere (Karnataka) took the tally to 69 at the time of the report.
• Format-wise footprint (as on March 31, 2025): Kanchipuram Varamahalakshmi Silks 34; KLM Fashion Mall 19; Kalamandir 11; Mandir 4; total 68.
• Customer metrics: The company acquired 18.5 lakh unique customers in FY 2024‑25, with a 43% repeat purchase rate, highlighting brand loyalty and a strong value proposition.
• Credit rating: India Ratings upgraded SSKL’s ratings to IND A/Positive/IND A1 for fund‑based working capital facilities and term loans, improving from IND A‑/Stable/IND A2+ and IND A‑/Stable, respectively.
• Recognition: SSKL received multiple honours, including “Best Retailer of the Year (Apparel & Lifestyle)” in 2024 from the Retail Association of India, and in 2025 was recognised as a “Leading Ethnic Fashion Retail Group” by The Times of India. It also won the “Pioneer in Ethnic Retail Fashion” award at Outlook Business Entity Awards and the VML–Retail Icon Award (Best Silk Store).