- Business
- Saraswati Saree Depot Ltd. (SSDL.NS) operates as a leading B2B wholesaler of women's ethnic apparel in India, specializing in sarees, kurtis, dress materials, blouse pieces, lehengas, bottoms, and allied traditional garments; the company maintains a vast catalog exceeding 300,000 SKUs sourced from over 900 weavers and suppliers in key textile hubs including Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. Founded in 1966 with family management spanning three generations, it is headquartered in Kolhapur, Maharashtra, with an additional store in Ulhasnagar and primary revenue generation—over 90% from sarees—targeting retailers, entrepreneurs, and customers across urban and rural markets nationwide, while serving more than 13,000 unique clients annually through events like its Utsav sale. Recent developments include a successful IPO in August 2024 raising approximately Rs 160 crore for working capital, inventory management, and entry into men's ethnic wear; robust Q2 FY26 results with 26.5% year-over-year revenue growth to Rs 208.39 crore driven by festive demand; inauguration of a new 25,000 sq ft purchase office in Surat to bolster procurement; and October 2025 regulatory no-objection for reclassifying 21 promoters to public shareholders alongside appointments of new independent directors and auditors at its September 2025 AGM.