A leading garment provider is set to convene its quarterly board meeting in early February to assess its performance in the last quarter of 2024. The meeting will also determine the third interim dividend for the current fiscal year, with potential benefits for shareholders based on the mid-February record date.
Share Price Movement
The share price of Page Industries Limited fell down by 0.34 percent to Rs. 47,900.75 per share on Thursday, a decrease from its previous close of Rs. 48,063.30 per share. The market capitalisation now stands at approximately Rs. 53,427 crore as of January 09, 2025.
What’s Driving the Price?
A board meeting is scheduled for 5 February 2025 to review the unaudited financial results for the quarter ending 31 December 2024 and to consider the declaration of the 3rd interim dividend for FY 2024-25. If declared, the record date will be 13 February 2025.
Financial Highlights
According to its recent filing, in the quarter ending September 2024, Page Industries’s consolidated revenue from operations has increased by 10.75 percent YOY from Rs. 1,125 crore in Q2 FY24 to Rs. 1,246 crore in Q2 FY25 and decreased by 2.5 percent QoQ from Rs. 1,246 crore in Q4 FY24.
The company’s consolidated net profit has increased by 30 percent YoY, from Rs. 150 crore in Q2 FY24 to Rs. 195 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 18.18 percent QoQ from Rs. 165 crore.
The average price-to-earnings (P/E) ratio in the textiles industry is 45. which is less than Page Industries’s current P/E ratio of 86.12.
Market Outlook
The Indian textile industry is a global leader, ranking second in MMF fibre production and third in textiles and apparel exports. With a 10.5% share in India’s merchandise exports, the sector is vital to the economy, offering employment to millions, including rural and women workers.
The Indian apparel market, valued at $102 billion in 2023, is expected to grow at 9% annually. Additionally, the innerwear segment, driven by comfort and aesthetics, is projected to grow at 11.2% CAGR, reflecting strong consumer demand.
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Expansion Plans
Page Industries is expanding strategically to meet FY’25 demand with new facilities, including a 35,000 sq. ft. tape dyeing unit in Hassan and e-commerce warehouses in Delhi, NCR. Key projects like ‘Cup Moulding’ and KR Pete’s 250,000 sq. ft. facility bolster production and elastic manufacturing.
Shareholding Pattern
As of the September 2024 shareholding pattern, Page Industries Limited is primarily held by the promoters at 44.29 percent, foreign institutional investors hold 20.84 percent, and the public with 5.35 percent. Furthermore, the government has a 0.75% stake in the company as well.
About Company
Page Industries Limited, headquartered in Bangalore and founded in 1994, is a prominent name in India’s garment sector. Known for its innerwear and swimwear, it holds exclusive licenses for JOCKEY International and Speedo International. The company employs over 19,000 people and operates 15 manufacturing units across several cities.
It offers a variety of products, including innerwear, loungewear, swimwear, and accessories like socks and towels. With a strong presence in over 1,800 Indian cities, Page Industries reaches consumers through 50,000 retail outlets and 1,289 exclusive stores. The company focuses on innovation and expanding its product range, maintaining a strong market presence and commitment to quality.
Written By Fazal Ul Vahab C H
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