Page Industries Ltd Share Price – NSE  /  BSE

Readymade Garments/ Apparells, Small Cap

Page Industries will hold a meeting of the Board of Directors of the Company on 8 August 2024.

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Page Industries announced that the 29th Annual General Meeting (AGM) of the company will be held on 8 August 2024.

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Sales volume during the period under review grew 6.1% YoY, amounting to 45.3 million pieces.

EBITDA improved by 24.5% to Rs 167.2 crore in Q4 FY24 from Rs 134.3 crore in Q4 FY23. EBITDA margin was 16.8% in Q4 FY24 as against 13.9% in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 145 crore, up by 36.1% from Rs 106.5 crore in Q4 FY23.

For FY24, Page Industries has reported net profit and revenue of Rs 569.2 crore (down 0.4% YoY) and Rs 4,581.7 crore (down 2.8% YoY), respectively.

V.S. Ganesh, managing director, Page Industries, said: “I am pleased to share that our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in maintaining robust margins and enhanced profitability.

Focused efforts to optimize operational efficiency has also been pivotal in enabling us to achieve an impressive 38.1% growth in PAT for Q4.

Our adaptive strategies including enhancing supply chain productivity and modernizing our distribution management system in response to the market’s evolving demands have shown early signs of stabilizing revenue this quarter, despite challenges due to generally subdued market conditions.

Our e-commerce channel continues to drive substantial growth, reflecting evolving consumer purchasing behaviour. With continued investments in our strategic drivers, we are well-positioned to seize long term opportunities of growth.”

In its outlook, Page Industries said: The outlook for the innerwear and athleisure industry in India remains positive, driven by advances in fabric technology and a growing trend towards health-conscious and active lifestyles.

Over the next decade, we expect significant growth in the athleisure market,. This shift towards high-quality, functional apparel is set to enhance consumer engagement and drive demand in both urban and rural markets.

At Page Industries, we are well-positioned to capitalise on these trends through our strategic investments in brand building, market expansion, and technology adoption. Our focus on enhancing e-commerce capabilities and expanding our distribution network will be key to capturing market share.”

Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India.

The scrip fell 1.77% to end at Rs 35663.70 on the BSE today.

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Page Industries announced that the Board of Directors of the Company at its meeting held on 23 May 2024, has recommended a Fourth Interim dividend of Rs.120 per share (i.e.1200%), subject to the approval of the shareholders.

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