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Sai Silks Kalamandir's Q1 FY27 revenue was INR 375 Cr, nearly flat YoY, with same-store sales degrowth of 7.5%. EBITDA margins declined slightly, but gross margins held strong at 42%. Management attributed the softness primarily to Adhik Maas and a higher base last year, emphasizing an annual performance perspective due to seasonal shifts. The company remains debt-free. It added 30,000 sq ft retail space, totaling 83 stores, and targets 1,00,000 sq ft expansion for FY27, focusing on Karnataka. One KLM store is being rationalized. Full-year revenue growth guidance of 12-15% is maintained, expecting 3-4% positive SSSG. Sentiment is confident on annual targets, banking on festive season demand.