News

Published: May 24, 2024
Updated: May 24, 2024

Page Industries Q4FY24: Net Profit Surges 38%, Revenue Growth at 3.2%

Strong Financial Performance:

Page Industries reported a consolidated net profit of ₹108.2 crore for the fourth quarter of FY24, reflecting a significant increase of 38.2% from ₹78.3 crore in the same quarter of the previous financial year. The company's total revenue reached ₹995.3 crore, up 3.2% from ₹964.6 crore in the year-ago period.

EBITDA and Margins:

Earnings before interest, tax, depreciation, and amortization (EBITDA) for the quarter stood at ₹167.2 crore, marking a 24.5% growth. The EBITDA margin was reported at 16.8% year-on-year, showcasing improved operational efficiency.

Dividend Announcement:

The Board of Directors approved an interim dividend of ₹120 per share, the highest since November 2021. This decision underscores the company's strong financial health and commitment to returning value to shareholders.

Strategic Initiatives and Market Adaptation:

Managing Director V.S. Ganesh highlighted the company's adaptive strategies, including enhancing supply chain productivity and modernizing the distribution management system to meet evolving market demands. Despite generally subdued market conditions, these efforts have started stabilizing revenue. The e-commerce channel continues to drive substantial growth, aligning with changing consumer purchasing behaviour.

Future Prospects and Market Trends:

Page Industries is optimistic about the future of the innerwear and athleisure industry in India, driven by advancements in fabric technology and a rising preference for health-conscious and active lifestyles. The company anticipates significant growth in the athleisure market over the next decade, with a shift towards high-quality, functional apparel boosting consumer engagement and demand across both urban and rural areas.

Strategic Investments and Market Expansion:

To capitalize on these trends, Page Industries is focusing on strategic investments in brand development, market expansion, and technology integration. Enhancing e-commerce platforms and expanding distribution networks are key priorities to secure a larger market presence.

Market Reaction:

Despite the positive financial performance, shares of Page Industries were trading down by 2.19% at ₹35,508.95 on the BSE at 3:15 pm.Page Industries showcased a robust financial performance in Q4FY24, with significant growth in net profit and stable revenue. Strategic initiatives and a focus on e-commerce have positioned the company well to leverage future growth opportunities in the innerwear and athleisure markets.