Page Industries Limited, India’s leading apparel manufacturer, today announced its financial results for the fourth quarter and annual year ended March 31, 2024.
Key Financial Highlights for Q4 FY 24:
• Sales volume grew 6.1percent YoY, amounting to 45.3 mn pieces
• Revenue at Rs. 9,954 mn, a 3.2 percent increase YoY
• EBITDA reported at Rs. 1,672 mn, a growth of 24.5 percent over the previous year
• The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation.
• Profit After Tax (PAT) at Rs. 1,082 mn, a significant increase of 38.1 percent compared to the same period last year, with PAT margins at 12.4 percent.
Key Financial Highlights for FY24:
• Revenue reported at Rs. 45,817 mn, a 2.8 percent decline, owing to the subdued performance in the first half of the fiscal year.
• EBITDA recorded at Rs. 8.722 mn, a growth of 1.1%
• PAT at Rs. 5,692 mn, at par with FY23
Commenting on the results, V.S. Ganesh, Managing Director, Page Industries Limited 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. A focused effort 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.
Outlook and Trends:
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.
