Page Industries Limited Q4 Results: Q4 Profit Rises by 38.1%

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Page Industries Limited, a prominent apparel manufacturer in India, disclosed its Q4 financials. Profit After Tax (PAT) surged by 38.1% to ₹108.2 crores, with sales volume up by 6.1% to 45.3 million units. Despite a 3.2% revenue increase to ₹995.4 crores, the fiscal year revenue declined by 2.8%. The EBITDA grew by 1.1% to ₹872.2 crores, while PAT remained stable at ₹569.2 crores. Page Industries maintains leadership in quality and market presence, notably with its flagship brand, Jockey, excelling in brand health metrics.

DATA Points:

  1. PAT: ₹108.2 crores; up by 38.1%
  2. Sales Volume: 45.3 million units, Up by 6.1% YoY
  3. Yearly revenue: ₹4,581.7 crores; down by 2.8%
  4. PAT at ₹569.2 crores; At par with FY 23

Additioanl Read: Page Industries Ltd Share Price

Page Industries Limited Q4 Result: 5 Key Financial Highlights

One of India’s most popular apparel manufacturers, Page Industries Limited, known for being the exclusive licensee of Jockey International in India, Sri Lanka, Bangladesh, Nepal, and the UAE, as well as Speedo International for the Indian subcontinent, announced its financial results for the fourth quarter that ended March 31, 2024. Here are the highlights:

  • Profit After Tax (PAT) reached ₹108.2 crores, representing a significant increase of 38.1% compared to the same period last year, with PAT margins at 12.4%.
  • Sales volume increased by 6.1% year-over-year, reaching 45.3 million units.
  • Revenue reached ₹995.4 crores, marking a 3.2% year-over-year increase.
  • The reported Q4 FY 24 EBITDA stands at ₹167.2 crores, marking a growth of 24.5% compared to the previous year.
  • FY 24 revenue was recorded at ₹4,581.7 crores, showing a 2.8% decline.

Additonal ReadQuarterly Results

Page Industries Limited Q4 Result: Profitability Analysis

The innerwear and loungewear manufacturer and retailer Page Industries, in Q3, reported a 23.1% year-on-year growth in PAT reaching ₹152.4 crore compared to ₹124 crore in the same quarter in the previous year[1] .

Persistent inflation has prompted consumers to switch to cheaper alternatives, impacting the company's top line. For the financial year 2023-24, Page Industries revenue was reported at ₹4,581.7 crores, reflecting a 2.8% decline due to subdued performance in the first half of the fiscal year. The company’s EBITDA increased by 1.1% to ₹872.2 crores, while PAT remained steady at ₹569.2 crores, matching the figures from FY23.

Additional ReadSun Pharma Q4 Results

Page Industries Limited Q4 Result: Market Position

Page Industries maintains its leadership in quality and market presence across all categories, bolstered by strong brand recognition and customer loyalty, particularly in the premium innerwear and athleisure segments. Jockey continues to stand as the flagship brand, excelling in brand health metrics such as top-of-mind awareness, and preference. The company's marketing strategies encompass a disproportionate investment towards women and kids segments. Additionally, they plan to implement tailored marketing campaigns targeting younger audiences and leverage digital platforms.

Additional Read: ITC Q4 FY24 Results

Page Industries Limited Q4 Result: FInancial Metrics (₹ in crores)



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What the Future Holds for Page Industries Limited?

The MD attributed the company's robust margins and enhanced profitability to its strategic commitment to sustainable sales practices and meticulous inventory management. He highlighted that focused efforts to optimise operational efficiency were crucial in achieving an impressive 38.1% growth in PAT for Q4. 

He highlighted that the e-commerce channel continues to drive substantial growth, reflecting changing consumer purchasing behaviour. The MD expressed confidence that with continued investments in these strategic drivers, the company is well-positioned to seize long-term growth opportunities.


The exclusive licensee of JOCKEY International Inc. (USA), Page Industries is responsible for manufacturing, distributing, and marketing the JOCKEY brand in India, Qatar, Bangladesh, Sri Lanka, Bhutan, Oman, the UAE, Nepal and Maldives. Additionally, Page Industries holds the exclusive licence for Speedo International Ltd. to manufacture, market, and distribute the Speedo brand in India.

Distributed across more than 2,750 cities and towns, Jockey is available in over 1,382 Exclusive Brand Stores (EBS), 1,05,000 Multi-Brand Outlets (MBOs), and more than 1,670 Large Format Stores (LFS), as well as online. The Speedo brand is available in 1,049 stores and 32 Exclusive Brand Outlets (EBOs) across 90+ cities.

Despite a temporary boost during last quarter's festive season, the retail sector continued to face subdued demand in the fourth quarter. It also highlighted increasing competitive intensity from both organised and unorganised sectors. However, the company stated that it expects significant growth in the athleisure market over the next decade.

Thanks to its sustainable sales practices and innovative product offerings Page Industries looks well-placed for enduring growth, adept at adjusting to the changing dynamics of retail and evolving consumer preferences. With a focus on channel expansion and enhancing store efficiencies to propel volume growth, Page Industries aims for a sustainable EBITDA margin of 19-21%.

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Is Jockey a part of Page Industries?

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Yes. A flagship brand of Page Industries, Jockey is a market leader in high-quality innerwear and leisurewear.

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