Recent Price Movement and Market Context
On 27 Jan 2026, Sai Silks recorded an intraday low of Rs.110.7, representing a 4.24% decline within the trading session. The stock closed with a day change of -2.29%, underperforming its sector by 2.58%. Over the last two trading days, the stock has lost 3.93% cumulatively, continuing a downward trajectory that has persisted for several months.
Comparatively, the Sensex declined by only 0.22% on the same day, highlighting Sai Silks’ relative weakness. Over the past week, the stock has fallen 5.42%, while the Sensex dipped 1.00%. The disparity widens over longer periods: a 1-month loss of 26.96% versus Sensex’s 4.33%, and a 3-month drop of 42.53% compared to the Sensex’s 4.04% decline.
Year-to-date, Sai Silks has shed 28.52%, significantly underperforming the Sensex’s 4.53% fall. Over the last year, the stock’s return stands at -30.82%, while the Sensex has gained 7.95%. The three-year and five-year returns for Sai Silks remain flat at 0.00%, contrasting sharply with the Sensex’s 37.12% and 71.60% gains respectively. Over a decade, the Sensex has surged 232.17%, underscoring the stock’s prolonged stagnation.
Technical Indicators and Moving Averages
Sai Silks is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning signals sustained bearish momentum and a lack of short- to medium-term price support. The stock’s inability to breach these averages further emphasises the downward pressure it faces.
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Fundamental Performance and Financial Metrics
Despite the share price decline, Sai Silks has reported positive financial results in recent quarters. The company declared profits for three consecutive quarters, with a 9-month PAT of Rs 108.27 crores. Return on Capital Employed (ROCE) for the half-year period reached a high of 15.52%, while the debt-to-equity ratio remained low at 0.25 times, indicating a conservative capital structure.
Return on Equity (ROE) stands at 10.3%, and the stock trades at a Price to Book Value of 1.5, suggesting an attractive valuation relative to its peers. The company’s profits have increased by 21% over the past year, even as the stock price declined by 30.58%. This divergence is reflected in a PEG ratio of 0.7, indicating that earnings growth is not currently mirrored in the share price.
Long-Term Growth and Institutional Participation
Over the last five years, Sai Silks’ net sales and operating profit have grown at annual rates of 10.50% and 10.78% respectively. While these figures indicate moderate growth, they have not translated into sustained share price appreciation. Institutional investors have reduced their holdings by 5.4% in the previous quarter, now collectively holding 9.68% of the company’s shares. This decline in institutional participation may reflect a reassessment of the company’s growth prospects and relative attractiveness.
The stock’s performance has lagged behind the BSE500 index over the last three years, one year, and three months, underscoring its below-par returns in both the near and long term.
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Mojo Score and Market Capitalisation Assessment
Sai Silks currently holds a Mojo Score of 46.0, with a Mojo Grade of Sell, downgraded from Hold on 19 Jan 2026. The company’s market capitalisation grade is rated 3, reflecting its small-cap status within the Garments & Apparels sector. The downgrade in Mojo Grade signals a reassessment of the stock’s risk-reward profile based on recent performance and fundamentals.
The stock’s consistent underperformance relative to the Sensex and sector benchmarks, combined with reduced institutional interest, highlights the challenges faced by Sai Silks in regaining investor confidence.
Summary of Key Performance Indicators
To summarise, Sai Silks’ key metrics as of January 2026 are:
- All-time low share price: Rs.110.7
- Day’s low decline: -4.24%
- 1-year return: -30.82%
- 3-month return: -42.53%
- 5-year and 10-year returns: 0.00%
- ROCE (HY): 15.52%
- ROE: 10.3%
- Debt-to-equity ratio (average): 0.08 times
- PEG ratio: 0.7
- Institutional holding: 9.68%, down 5.4% last quarter
These figures illustrate a company with stable financial metrics but facing significant market valuation pressures and investor caution.
Conclusion
The fall of Sai Silks (Kalamandir) Ltd to an all-time low price of Rs.110.7 marks a notable event in the stock’s history, reflecting a prolonged period of underperformance against market and sector indices. Despite positive profit growth and conservative leverage, the stock has not translated these fundamentals into price appreciation. The downgrade to a Sell grade and declining institutional participation further underscore the cautious stance adopted by market participants. The stock remains below all major moving averages, signalling continued downward momentum in the near term.
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