Page Industries Limited , the exclusive licensee of Jockey International Inc. (USA) in India and several other countries, has reported a strong financial performance for the first quarter. The company's results showcase robust growth in profitability and operational efficiency.

Financial Highlights

Page Industries reported a quarterly revenue of Rs 13,166.00 million, marking a 3.1% increase compared to Rs 12,775.00 million in the same period last year. The company's net profit saw a significant jump, rising 21.5% year-over-year to Rs 2,008.00 million from Rs 1,652.00 million.

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed impressive growth, increasing by 21.1% to Rs 2,947.00 million, up from Rs 2,433.00 million in the corresponding quarter of the previous year. The EBITDA margin improved substantially to 22.4% from 19.0% in the corresponding quarter of the previous year.

Operational Performance

Page Industries reported a modest increase in sales volume, which grew by 1.9% year-over-year, amounting to 58.6 million pieces sold during the quarter.

Dividend Declaration

The Board of Directors has declared an interim dividend of Rs 150.00 per equity share. The record date for the dividend payment is set for August 13, with the payment to be made on or before September 5.

Management Commentary

V.S. Ganesh, Managing Director of Page Industries Limited, expressed satisfaction with the company's performance. He stated, "I am happy to share that we have achieved PAT growth of 21.5% in the quarter. We continue to expand our consumer reach, pursue several product innovation and process automation initiatives while focusing on optimum market investments and cost efficiency measures."

Market Outlook

The company remains optimistic about future demand recovery. Ganesh highlighted positive factors such as low inflation, lower borrowing rates, and direct tax rate rationalization, which are expected to strengthen consumer buying power. He also noted that deeper adoption of e-commerce would significantly aid in expanding the organized retail ecosystem.

New Product Launches

Page Industries has expanded its product range with the introduction of JKY Groove, aimed at meeting the latest trends for younger consumers. The company has launched this new fashionable range of products on jockey.in and select Exclusive Brand Outlets (EBOs) across the country, with initial response reported as very encouraging.

Operational Updates

The company has successfully completed the pilot run of a modern Distribution Management System through Salesforce and is on track for full deployment. Additionally, migration to SAP S4 HANA is progressing as planned.

Page Industries has also commenced commercial production at its new state-of-the-art manufacturing facility in Odisha, with plans to gradually ramp up production in the coming months.

The company continues to maintain a strong market presence with 1,10,487 multi-brand outlets, 1,490 exclusive brand stores, and extensive coverage across 2,715 cities and towns in India.

As Page Industries Limited continues to focus on innovation, market expansion, and operational efficiency, it remains well-positioned to capitalize on the growing demand for premium innerwear and leisure wear in its licensed markets.

Page Industries , a leading manufacturer of innerwear and leisurewear, has announced a significant dividend payout for its shareholders. The company has set May 21, 2023, as the record date for its Rs 200 per share dividend distribution.

Key Details of the Dividend

Eligibility and Settlement Cycle

Investors should note that to be eligible for this dividend, they must own Page Industries shares by May 20, 2023. This deadline is crucial due to the T+1 settlement cycle currently in place in the Indian stock market. The T+1 cycle means that trades are settled one day after the transaction date, allowing for quicker processing of buy and sell orders.

Current Stock Performance

As of the latest trading session, Page Industries' shares were trading at approximately Rs 47,861.55 on the Bombay Stock Exchange (BSE). This price point reflects the current market valuation of the company, which is known for its exclusive license for JOCKEY brand products in India.

Investor Considerations

The substantial dividend of Rs 200.00 per share represents a significant return for shareholders. Investors considering this opportunity should factor in the following:

1. The ex-dividend date, which is typically one business day before the record date
2. Any potential impact on the share price post-dividend
3. Their individual tax implications for dividend income

Page Industries' decision to offer this dividend may be seen as a sign of the company's financial health and its commitment to returning value to shareholders. However, as with all investment decisions, investors are advised to conduct their own research and consider their financial goals before making any investment choices.

This dividend announcement comes as Page Industries continues to maintain its position as a key player in the Indian apparel market, particularly in the innerwear and leisurewear segments.