Technology

For 3QFY2018, Siyaram Silk Mills (SSM) posted good set of results, exceeding our
expectations on both, top-line as well as bottom-line fronts. Revenues grew by
~16% yoy (above our estimate). On the operating front, the company reported
operating margin improvement. On the bottom-line front, SSM reported growth of
~64% yoy to `22cr on the back of strong top-line growth, higher other income and
lower taxes.

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