About Saraswati Saree Depot Limited

Saraswati Saree Depot Limited (SSDL) is an organised player in India’s saree industry with a legacy that dates back to 1966. Formally established as a partnership firm in 1993, the company now operates primarily in the B2B and wholesale segment of traditional women’s apparel. Its product portfolio is dominated by sarees, contributing over 90% of total revenue, and complemented by kurtis, dress materials, lehengas, blouse pieces, ethnic bottoms, and fashion accessories—together forming a catalogue of more than 3,00,000 SKUs. SSDL sources from over 900 weavers and vendors across major textile hubs such as Surat, Varanasi, Madurai, and Kolkata, and caters to approximately 13,000 active B2B customers across southern and western India, including Maharashtra, Goa, Karnataka, and Tamil Nadu.

The company operates two large-format stores in Maharashtra—its flagship outlet in Kolhapur and another in Ulhasnagar—with a combined retail area exceeding 1,85,000 sq. ft.; the Kolhapur location accounts for nearly 88% of its total sales. Strengthening procurement efficiency, SSDL inaugurated a 25,000 sq. ft. purchase office in Surat in October 2024 to further improve sourcing access near key suppliers. A significant corporate milestone was reached when the company’s equity shares were listed on the NSE and BSE on August 20, 2024, following an Initial Public Offering that was oversubscribed approximately 107 times, underscoring robust investor confidence.

As of March 31, 2025, SSDL reported that it has no subsidiaries, joint ventures, or associate companies. The total number of subsidiaries stands at zero.

Key Milestones of Saraswati Saree Depot Limited

• Incorporation of legacy business as a formal entity in 1993, building on operations dating back to 1966.
• Expansion into large-format operations with flagship outlets in Kolhapur and Ulhasnagar, Maharashtra.
• Establishment of a 25,000 sq. ft. purchase office in Surat in October 2024 to support strategic sourcing operations.
• Listing on the NSE and BSE on August 20, 2024, following an IPO oversubscribed by approximately 107 times.
• Initiation of retail expansion through an exclusive pilot outlet in Kolhapur for the direct-to-consumer segment.

Saraswati Saree Depot Limited Business Segment and  Geographic Presence 

SSDL operates primarily within the B2B and wholesale segment of traditional women’s ethnic wear. Sarees contribute over 90% of revenue, while complementary categories—such as kurtis, dress materials, lehengas, blouse pieces, and accessories—form the rest of its product base.

Geographical Presence:

• Two large-format stores located in Kolhapur and Ulhasnagar, Maharashtra.
• Purchase office in Surat, established in October 2024.
• Core market coverage across Maharashtra, Goa, Karnataka, and Tamil Nadu through a network of 13,000+ active B2B customers.

The company’s product sourcing network spans Surat, Varanasi, Madurai, and Kolkata, supported by over 900 sourcing partners and weavers, establishing a diversified and resilient supply chain.

SSDL operates as a single business segment focusing on women’s ethnic apparel, with a strong emphasis on sarees (over 90% of revenue). Its integrated value chain encompasses design, sourcing, wholesale, and emerging retail functions. The large-format Kolhapur outlet acts as both a flagship and the primary sales contributor (around 88% of revenue). Ongoing expansion into the retail segment and exploration of men’s ethnic wear reflect a strategic move toward diversification and higher-margin product categories. Technology and ERP investments further enable data-driven efficiencies and customer engagement improvements.

Saraswati Saree Depot Limited Key Management

• Shankar Laxmandas Dulhani – Chairman & Executive Director
• Vinod Shevakram Dulhani – CEO & Managing Director
• Rajesh Sujandas Dulhani – Executive Director
• Mahesh Sajandas Dulhani – Executive Director
• Mahesh Suwalal Vyas – Chief Financial Officer
• Sangeeta Shambhu Mahato – Company Secretary & Compliance Officer (as on March 31, 2025)

Latest Updates on Saraswati Saree Depot Limited

• Capital market milestone: Completed a successful IPO and listing on the NSE and BSE on August 20, 2024; the issue was oversubscribed by about 107 times.
• Sourcing expansion: Opened a 25,000 sq. ft. purchase office in Surat in October 2024 to enhance procurement and vendor coordination efficiency.
• Retail foray: Initiated entry into the retail segment with the launch of an exclusive outlet in Kolhapur as a pilot; broader rollout will depend on its performance and customer response.
• Portfolio diversification: Evaluating Ulhasnagar branch performance for strategic repositioning and exploring entry into men’s ethnic wear to address new market opportunities.
• Digital and process transformation: Continuing investments in IT systems, ERP, and data analytics to increase operational agility and improve customer experience.
• Governance and leadership changes: Appointment of Mrs. Pallavi Ashish Korgaonkar as Independent Director (with effect from September 9, 2024). Resignation of Mrs. Charushila Abhinay Kumbhar and Mrs. Rupali Ratnakar Shelake as Independent Directors on the same date. Ms. Sangeeta Mahato took charge as Company Secretary & Compliance Officer w.e.f. December 9, 2024, succeeded by Ms. Vidhi Bharat Oswal w.e.f. June 7, 2025.