Sai Silks (Kalamandir) Ltd Falls to 52-Week Low Amidst Continued Underperformance

Stock Price Movement and Market Context

On 29 Jan 2026, Sai Silks (Kalamandir) Ltd’s share price touched an intraday low of Rs.109.3, representing a 3.23% decline from the previous close. The stock closed the day down by 2.70%, underperforming the Garments & Apparels sector by 1.43%. This new low is notable as it also represents the company’s all-time lowest trading level, a stark contrast to its 52-week high of Rs.222.9.

The broader market environment was subdued, with the Sensex opening flat but eventually falling by 223.86 points (-0.24%) to close at 82,145.10. Despite this, the Sensex remains within 4.89% of its 52-week high of 86,159.02, indicating relative resilience compared to Sai Silks’ performance. The Sensex is trading below its 50-day moving average, though the 50DMA remains above the 200DMA, suggesting mixed technical signals at the index level.

Sai Silks is currently trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — underscoring the sustained downward pressure on the stock price over multiple time horizons.

Long-Term Performance and Growth Metrics

Over the past year, Sai Silks has delivered a negative return of -35.99%, significantly underperforming the Sensex, which posted a positive 7.33% return over the same period. The stock’s underperformance extends beyond the last year, with returns lagging behind the BSE500 index across one-year, three-month, and three-year timeframes.

The company’s long-term growth has been modest, with net sales increasing at an annualised rate of 10.50% over the last five years. Operating profit has grown at a similar pace of 10.78% annually during this period. These growth rates, while positive, have not translated into commensurate stock price appreciation, reflecting market concerns about the company’s growth trajectory relative to peers.

Institutional investor participation has also declined, with a 5.4% reduction in their stake over the previous quarter. Currently, institutional investors hold 9.68% of the company’s shares. This reduction in institutional ownership may indicate a cautious stance from investors with greater analytical resources.

Financial Health and Profitability Indicators

Despite the stock’s price decline, Sai Silks maintains a relatively low debt profile, with an average debt-to-equity ratio of 0.08 times. The company reported positive results for the last three consecutive quarters, with a notable return on capital employed (ROCE) of 15.52% in the half-year period. The debt-to-equity ratio for the half-year stood at a low 0.25 times, signalling conservative leverage.

Profit after tax (PAT) for the nine-month period reached Rs.108.27 crores, reflecting a 21% increase in profits over the past year. The company’s return on equity (ROE) is 10.3%, and it trades at a price-to-book value of 1.5, which is considered attractive relative to its peers’ historical valuations. The PEG ratio of 0.7 further indicates that the stock is trading at a discount to its earnings growth potential.

Mojo Score and Rating Update

Sai Silks currently holds a Mojo Score of 43.0, with a Mojo Grade of Sell as of 19 Jan 2026, having been downgraded from Hold. The market capitalisation grade stands at 3, reflecting its mid-tier market cap status within the Garments & Apparels sector. This downgrade aligns with the stock’s recent price weakness and underperformance relative to sector peers and broader indices.

The downgrade and low Mojo Score underscore the challenges faced by the company in sustaining investor confidence amid its subdued price performance and modest growth metrics.

Summary of Key Price and Performance Indicators

The stock’s new 52-week low of Rs.109.3 is a critical technical level, highlighting the downward momentum that has persisted despite positive quarterly earnings and a conservative balance sheet. The stock’s trading below all major moving averages further emphasises the prevailing bearish trend.

While the broader market has shown some resilience, Sai Silks’ share price has not mirrored this trend, reflecting company-specific factors and investor sentiment that have weighed on its valuation.

Conclusion

Sai Silks (Kalamandir) Ltd’s fall to a 52-week low of Rs.109.3 marks a significant development in its stock price trajectory. The decline is set against a backdrop of modest long-term growth, reduced institutional participation, and a recent downgrade in its Mojo Grade. Despite positive profit growth and a strong balance sheet, the stock’s performance has lagged behind sector and market benchmarks, resulting in a cautious market stance reflected in its current valuation and technical indicators.

Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →