Quarter ended Sep 2021 compared with Quarter ended Sep 2020.

Net sales (including other operating income) of Page Industries has increased 46.43% to Rs 1,084.01 crore.  

Operating profit margin has declined from 22.34% to 21.53%, leading to 41.16% rise in operating profit to Rs 233.43 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 22.40% to 26.36%.   Purchase of finished goods cost rose from 17.67% to 20.08%.   Employee cost decreased from 18.96% to 15.94%.   Other expenses fell from 16.84% to 16.58%.   

Other income up 44.47% to Rs 5.36 crore.  PBIDT rose 41.24% to Rs 238.79 crore.  Provision for interest fell 0.80% to Rs 7.45 crore.  Loan funds declined from Rs 143.29 crore as of 30 September 2020 to Rs 113.70 crore as of 30 September 2021.  Inventories rose to Rs 641.33 crore as of 30 September 2021 from Rs 571.86 crore as of 30 September 2020.  Sundry debtors were higher at Rs 127.65 crore as of 30 September 2021 compared to Rs 95.13 crore as of 30 September 2020.  Cash and bank balance rose to Rs 537.85 crore as of 30 September 2021 from Rs 409.20 crore as of 30 September 2020.  

PBDT rose 43.19% to Rs 231.34 crore.  Provision for depreciation rose 5.49% to Rs 16.52 crore.  Fixed assets declined from Rs 408.49 crore as of 30 September 2020 to Rs 405.22 crore as of 30 September 2021.  Intangible assets declined from Rs 1.97 crore to Rs 1.94 crore.  

Profit before tax grew 47.24% to Rs 214.82 crore.  Provision for tax was expense of Rs 54.33 crore, compared to Rs 35.03 crore.  Effective tax rate was 25.29% compared to 24.01%.

Profit after tax rose 44.76% to Rs 160.49 crore.  

Year-to-date (YTD) results analysis

Net sales (including other operating income) of Page Industries has increased 54.67% to Rs 1,585.55 crore.  

Operating profit margin has jumped from 12.74% to 16.88%, leading to 104.86% rise in operating profit to Rs 267.65 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 21.80% to 24.26%.   Purchase of finished goods cost rose from 16.71% to 20.89%.   Employee cost decreased from 28.39% to 20.45%.   Other expenses fell from 18.44% to 17.79%.   

Other income fell 8.80% to Rs 8.91 crore.  PBIDT rose 96.95% to Rs 276.56 crore.  Provision for interest fell 2.57% to Rs 14.8 crore.  Loan funds declined from Rs 143.29 crore as of 30 September 2020 to Rs 113.70 crore as of 30 September 2021.  Inventories rose to Rs 641.33 crore as of 30 September 2021 from Rs 571.86 crore as of 30 September 2020.  Sundry debtors were higher at Rs 127.65 crore as of 30 September 2021 compared to Rs 95.13 crore as of 30 September 2020.  Cash and bank balance rose to Rs 537.85 crore as of 30 September 2021 from Rs 409.20 crore as of 30 September 2020.  

PBDT rose 109.02% to Rs 261.76 crore.  Provision for depreciation rose 2.24% to Rs 32.42 crore.  Fixed assets declined from Rs 408.49 crore as of 30 September 2020 to Rs 405.22 crore as of 30 September 2021.  Intangible assets declined from Rs 1.97 crore to Rs 1.94 crore.  

Profit before tax grew 145.23% to Rs 229.34 crore.  Provision for tax was expense of Rs 57.9 crore, compared to Rs 22.21 crore.  Effective tax rate was 25.25% compared to 23.75%.

Profit after tax rose 140.42% to Rs 171.44 crore.  

Equity capital stood at Rs 11.15 crore as of 30 September 2021 to Rs 11.15 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 47.91% as of 30 September 2021 ,compared to 48.32% as of 30 September 2020 .  

Cash flow from operating activities decreased to Rs 205.74 crore for YTD ended September 2021 from Rs 321.84 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 28.67 crore, compared to Rs 1.28 crore during the YTD ended September 2020.  

Others:

The Board of Directors of the company at their meeting held on Nov 11, 2021 has declared 2 nd interim dividend for FY2021-22 of Rs 150/- per equity share.

Management Commentary:

Commenting on the results, Managing Director, Mr. Sunder Genomal said, " As we announce our highest ever revenue and PAT this quarter, we remain confident to deliver on the long term growth prospects of the company. I am pleased to share that the sales momentum has picked up significantly after the setbacks of the global pandemic. We saw increased momentum in sales across all our product categories backed by expansion in our portfolio and existing network. We are well poised and remain optimistic on delivering sustainable growth in the foreseeable future.

E-commerce continues to witness an increasing trend and our investments in warehousing, technology and logistics support helped not only in strong execution but also on delivering on profitable growth.

With a strong and proven business model, wide product portfolio, efficient financial management and a very loyal customer base, we remain committed to continue creating value for our stakeholders.