Sai Silks Shares Plunge 12% on Weak Q3 Update; Down 40% from IPO Price

• Sai Silk Kalamandir Ltd. shares fell over 12% on Monday, becoming the top loser on the BSE Smallcap index.
• The decline followed an underwhelming Q3 business update, with turnover at ₹411 crore, 8% lower than the previous year.
• Despite the Q3 dip, revenue for the first nine months of FY increased 16% year-on-year to ₹1,235 crore.
• The company opened five new stores during the quarter, including Kanchipuram Varamahalakshmi Silks and Valli Silks formats.
• Monday's fall marked the third consecutive day of losses, extending the stock's drop to 40% from its IPO price of ₹222.

Why It Matters: Sai Silks stock plummeted due to weak Q3 results, extending its post-IPO decline to 40%.