Page Industries , a leading manufacturer of innerwear and leisurewear, has released its financial results for the second quarter of fiscal year 2026, showing modest growth amidst challenging market conditions.

Financial Highlights

The company reported a revenue increase of 3.6% year-over-year, reaching ₹12,909.00 million in Q2 FY26. This growth was supported by sales volume of 56.60 million pieces during the quarter. However, profit after tax remained flat at ₹1,948.00 million, indicating pressure on margins.

Market Dynamics and Management Outlook

Page Industries experienced improved demand during the late September and early October festive season, suggesting a potential uptick in consumer spending. Despite the modest growth, the company's management has expressed confidence in better performance for the second half of the fiscal year.

Challenges and Expectations

While the management remains optimistic about future prospects, they have acknowledged that current growth rates are below their internal targets. This admission reflects the broader challenges faced by the consumer goods sector, likely due to subdued consumption patterns in the market.

Looking Ahead

The company's ability to maintain flat profit levels despite only marginal revenue growth demonstrates some resilience in its business model. However, investors and analysts will be closely watching Page Industries' performance in the coming quarters to see if the anticipated improvement in H2 materializes, especially given the management's expressed confidence.

As the market navigates through periods of subdued consumption, Page Industries' performance will be a key indicator of the overall health of the innerwear and leisurewear segment in India.

Page Industries Limited , the exclusive licensee of Jockey in India and other countries, has announced its financial results for the second quarter of fiscal year 2026, along with an interim dividend declaration.

Q2 FY2026 Financial Highlights

Page Industries reported a moderate growth in its Q2 FY2026 results:

The company's revenue showed a 3.6% year-over-year growth, reaching ₹1,290.86 crore in Q2 FY2026. However, the EBITDA remained nearly flat at ₹279.50 crore, with a slight decline in the EBITDA margin from 22.58% to 21.65%. Net profit for the quarter stood at ₹194.76 crore, marginally lower than the ₹195.26 crore reported in the same quarter last year.

Interim Dividend Declaration

The Board of Directors has declared an interim dividend of ₹125 per equity share for the financial year ending March 31, 2026. This follows an earlier interim dividend of ₹150 per share declared on August 7, 2025.

Management Commentary

V.S. Ganesh, Managing Director of Page Industries Limited, commented on the results: "Our continued focus on operational efficiency and cost optimisation measures while investing in product innovation and distribution expansion has contributed to strong operating margins. While revenue growth was moderate this quarter, we are well positioned to capitalise on the improvement in demand in the coming months."

Business Outlook

Page Industries remains optimistic about future growth prospects. The company highlighted several positive factors that may contribute to improved consumption:

• Implementation of GST 2.0
• Reduced lending rates
• Rapid growth in e-commerce, including quick commerce in metros and expansion in other cities
• Strong leadership position in modern retail

The company also noted an encouraging initial response to its new product line featuring bonded technology in men's innerwear and bras, launched in September 2025.

Operational Highlights

• Sales volume growth was 2.5% year-over-year, amounting to 56.6 million pieces in Q2 FY2026.
• The company maintains a strong distribution network with presence in 2,725 cities and towns, available in 110,636 Multi Brand Outlets and 1,527 Exclusive Brand Stores.
• Page Industries continues to focus on expanding its market reach and product innovation to drive growth.

As Page Industries navigates through a period of moderate growth, the company's focus on operational efficiency and strategic initiatives may help in capitalizing on future market opportunities. Investors and market observers will likely keep a close watch on how these efforts translate into performance in the coming quarters.