On standalone basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of Page Industries has increased
15.78% to Rs 1,255.02 crore.
Operating profit margin has declined
from 21.53% to 18.95%, leading to 1.89% rise in operating profit to Rs 237.85
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 26.36% to 26.48%. Purchase of finished
goods cost rose from 20.08% to 27.94%. Employee cost decreased from
15.94% to 14.98%. Other expenses fell from 16.58% to 15.11%.
Other income fell 50.19% to Rs 2.67
crore. PBIDT rose 0.72% to Rs 240.52 crore. Provision for
interest up 22.95% to Rs 9.16 crore. Loan funds rose to Rs 153.22
crore as of 30 September 2022 from Rs 113.70 crore as of 30 September
2021. Inventories rose to Rs 1,359.22 crore as of 30 September 2022
from Rs 641.33 crore as of 30 September 2021. Sundry debtors were
higher at Rs 205.52 crore as of 30 September 2022 compared to Rs 127.65 crore
as of 30 September 2021. Cash and bank balance declined from Rs
537.85 crore as of 30 September 2021 to Rs 83.32 crore as of 30 September
2022.
PBDT rose 0.01% to Rs 231.36
crore. Provision for depreciation rose 13.92% to Rs 18.82
crore. Fixed assets increased to Rs 564.27 crore as of 30 September
2022 from Rs 405.22 crore as of 30 September 2021. Intangible assets
increased from Rs 1.94 crore to Rs 2.75 crore.
Profit before tax down 1.06% to Rs
212.54 crore. Provision for tax was expense of Rs 50.41 crore,
compared to Rs 54.33 crore. Effective tax rate was 23.72% compared
to 25.29%.
Profit after tax rose 1.02% to Rs
162.13 crore.
Equity capital stood at Rs 11.15
crore as of 30 September 2022 to Rs 11.15 crore as of 30 September
2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 46.12% as of 30
September 2022 ,compared to 47.91% as of 30 September 2021 .
For year-to-date (YTD) results
analysis
Net sales (including other operating income) of Page Industries has increased
63.75% to Rs 2,596.29 crore.
Operating profit margin has jumped
from 16.88% to 20.63%, leading to 100.13% rise in operating profit to Rs 535.65
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 24.26% to 26.59%. Purchase of finished
goods cost rose from 20.89% to 25.28%. Employee cost decreased from
20.45% to 15.00%. Other expenses fell from 17.79% to 15.11%.
Other income fell 33% to Rs 5.97
crore. PBIDT rose 95.84% to Rs 541.62 crore. Provision
for interest up 19.53% to Rs 17.69 crore. Loan funds rose to Rs
153.22 crore as of 30 September 2022 from Rs 113.70 crore as of 30 September
2021. Inventories rose to Rs 1,359.22 crore as of 30 September 2022
from Rs 641.33 crore as of 30 September 2021. Sundry debtors were
higher at Rs 205.52 crore as of 30 September 2022 compared to Rs 127.65 crore
as of 30 September 2021. Cash and bank balance declined from Rs
537.85 crore as of 30 September 2021 to Rs 83.32 crore as of 30 September
2022.
PBDT rose 100.16% to Rs 523.93
crore. Provision for depreciation rose 13.60% to Rs 36.83
crore. Fixed assets increased to Rs 564.27 crore as of 30 September
2022 from Rs 405.22 crore as of 30 September 2021. Intangible assets
increased from Rs 1.94 crore to Rs 2.75 crore.
Profit before tax grew 112.39% to Rs
487.10 crore. Provision for tax was expense of Rs 117.94 crore,
compared to Rs 57.9 crore. Effective tax rate was 24.21% compared to
25.25%.
Profit after tax rose 115.33% to Rs
369.16 crore.
Equity capital stood at Rs 11.15
crore as of 30 September 2022 to Rs 11.15 crore as of 30 September
2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 46.12% as of 30
September 2022 ,compared to 47.91% as of 30 September 2021 .
Cash flow from operating activities
decreased to Rs 57.53 crore for YTD ended September 2022 from Rs 205.74 crore
for YTD ended September 2021. Cash flow used in acquiring fixed
assets during the YTD ended September 2022 stood at Rs 88.85 crore, compared to
Rs 28.67 crore during the YTD ended September 2021.
Full year results analysis
Net sales (including other operating income) of Page Industries has increased
37.19% to Rs 3,886.46 crore.
Operating profit margin has jumped
from 18.59% to 20.21%, leading to 49.16% rise in operating profit to Rs 785.46
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 22.19% to 24.77%. Purchase of finished
goods cost rose from 18.30% to 21.71%. Employee cost decreased from
21.38% to 17.70%. Other expenses fell from 18.16% to 16.51%.
Other income up 7.76% to Rs 20.98
crore. PBIDT rose 47.68% to Rs 806.44 crore. Provision
for interest up 8.27% to Rs 32.2 crore. Loan funds declined from Rs
127.05 crore as of 31 March 2021 to Rs 109.91 crore as of 31 March
2022. Inventories rose to Rs 974.87 crore as of 31 March 2022 from
Rs 554.93 crore as of 31 March 2021. Sundry debtors were higher at
Rs 165.08 crore as of 31 March 2022 compared to Rs 137.12 crore as of 31 March
2021. Cash and bank balance declined from Rs 435.00 crore as of 31
March 2021 to Rs 283.46 crore as of 31 March 2022.
PBDT rose 49.95% to Rs 774.24
crore. Provision for depreciation rose 4.07% to Rs 65.47
crore. Fixed assets increased to Rs 465.70 crore as of 31 March 2022
from Rs 411.83 crore as of 31 March 2021. Intangible assets declined
from Rs 2.32 crore to Rs 1.97 crore.
Profit before tax grew 56.32% to Rs
708.77 crore. Provision for tax was expense of Rs 172.24 crore,
compared to Rs 112.84 crore. Effective tax rate was 24.30% compared
to 24.89%.
Profit after tax rose 57.53% to Rs
536.53 crore.
Equity capital stood at Rs 11.15
crore as of 30 September 2022 to Rs 11.15 crore as of 30 September
2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 47.19% as of 31
March 2022 ,compared to 48.32% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 326.91 crore for year ended March 2022 from Rs 695.89 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 97.96 crore, compared to Rs 15.33
crore during the year ended March 2021.
Others:
The Board of Directors of the
company has declared 2 nd interim dividend for FY2022-23 of Rs 70/- per equity
share.
Management Commentary:
Commenting on the results, Managing
Director, Mr. V. S. Ganesh said, “We are
pleased to report that
historically, this has
been the best Q2 for the company in terms of revenue. We are well in line with
our guidance of
delivering robust growth on the back of strong levers such as increased shift in organized retail, increased
branded inner-wear demand and growing aspirations for global brands.
The Company will continue to invest in capacity building, manpower, business process re-engineering, digital outreach
and advertising while building inventory. With a
strong focus in the fast-growing Tier 2-3-4 markets and with new product introductions to further strengthen our product portfolio, we see
a huge opportunity for retail expansion and growth as we move forward.”
| Page Industries : Standalone Results | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,255.02 | 1,084.01 | 15.78 | 2,596.29 | 1,585.55 | 63.75 | 3,886.46 | 2,832.96 | 37.19 | | OPM (%) | 18.95 | 21.53 | -258 bps | 20.63 | 16.88 | 375 bps | 20.21 | 18.59 | 162 bps | | OP | 237.85 | 233.43 | 1.89 | 535.65 | 267.65 | 100.13 | 785.46 | 526.60 | 49.16 | | Other Inc. | 2.67 | 5.36 | -50.19 | 5.97 | 8.91 | -33.00 | 20.98 | 19.47 | 7.76 | | PBIDT | 240.52 | 238.79 | 0.72 | 541.62 | 276.56 | 95.84 | 806.44 | 546.07 | 47.68 | | Interest | 9.16 | 7.45 | 22.95 | 17.69 | 14.8 | 19.53 | 32.2 | 29.74 | 8.27 | | PBDT | 231.36 | 231.34 | 0.01 | 523.93 | 261.76 | 100.16 | 774.24 | 516.33 | 49.95 | | Depreciation | 18.82 | 16.52 | 13.92 | 36.83 | 32.42 | 13.60 | 65.47 | 62.91 | 4.07 | | PBT | 212.54 | 214.82 | -1.06 | 487.1 | 229.34 | 112.39 | 708.77 | 453.42 | 56.32 | | PBT before EO | 212.54 | 214.82 | -1.06 | 487.1 | 229.34 | 112.39 | 708.77 | 453.42 | 56.32 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 212.54 | 214.82 | -1.06 | 487.1 | 229.34 | 112.39 | 708.77 | 453.42 | 56.32 | | Taxation | 50.41 | 54.33 | -7.22 | 117.94 | 57.9 | 103.70 | 172.24 | 112.84 | 52.64 | | PAT | 162.13 | 160.49 | 1.02 | 369.16 | 171.44 | 115.33 | 536.53 | 340.58 | 57.53 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 162.13 | 160.49 | 1.02 | 369.16 | 171.44 | 115.33 | 536.53 | 340.58 | 57.53 | | EPS (Rs)* | 145.41 | 143.94 | 1.02 | 331.09 | 153.76 | 115.33 | 481.19 | 305.45 | 57.53 | | | * EPS is on current equity of Rs 11.15 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|
Peer Comparision (Standalone)
|
Q-202209
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
09-Nov-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Page Industries Ltd
|
1,255.02
|
15.78
|
237.85
|
1.89
|
162.13
|
1.02
|
49,566.25
|
24.70
|
658.53
|
74.25
|
|
Aditya Birla Fashion & Retail Ltd
|
2,952.76
|
47.93
|
443.47
|
40.94
|
80.13
|
468.7
|
311.95
|
2.06
|
4.68
|
66.97
|
|
Cantabil Retail India Ltd
|
116.00
|
29.45
|
31.26
|
33.59
|
9.28
|
19.43
|
1,192.35
|
104.34
|
33.82
|
35.61
|
|
Celebrity Fashions Ltd
|
97.32
|
14.02
|
6.22
|
25.15
|
1.74
|
37.01
|
20.35
|
106.39
|
1.88
|
10.71
|
|
Fiberweb (India) Ltd
|
25.39
|
8.5
|
2.43
|
-54.41
|
1.64
|
-47.44
|
39.05
|
-10.44
|
2.74
|
13.85
|
|
Garment Mantra Lifestyle Ltd
|
23.96
|
-26.97
|
0.75
|
-71.8
|
0.22
|
-86.59
|
5.12
|
-64.86
|
-0.05
|
-
|
|
Garware Technical Fibres Ltd
|
351.62
|
28.92
|
59.24
|
26.69
|
45.99
|
22.44
|
3,422.00
|
-6.66
|
79.57
|
42.23
|
|
Go Fashion (India) Ltd
|
165.75
|
47.89
|
49.34
|
40.17
|
19.27
|
3.55
|
1,299.05
|
3.71
|
14.76
|
83.66
|
|
Gokaldas Exports Ltd
|
569.35
|
28.39
|
77.11
|
49.96
|
41.99
|
47.23
|
367.75
|
46.87
|
28.48
|
12.70
|
|
Heads UP Ventures Ltd
|
0.43
|
-
|
-1.65
|
-1.23
|
-1.59
|
-14.39
|
13.65
|
-19.47
|
-2.61
|
-
|
|
Indian Terrain Fashions Ltd
|
154.38
|
58.96
|
16.36
|
91.12
|
8.66
|
341.84
|
77.45
|
48.37
|
4.61
|
16.04
|
|
Jayatma Enterprises Ltd
|
0.14
|
0
|
0.08
|
60
|
0.17
|
112.5
|
60.00
|
2.56
|
1.00
|
60.00
|
|
K P R Mill Ltd
|
1,073.67
|
5.74
|
264.70
|
-14.12
|
203.10
|
-7.68
|
541.10
|
4.62
|
23.10
|
23.54
|
|
Kewal Kiran Clothing Ltd
|
226.34
|
29.28
|
50.01
|
54.88
|
39.13
|
44.82
|
472.50
|
95.09
|
17.33
|
26.79
|
|
Khoobsurat Ltd
|
0.00
|
-
|
-0.08
|
27.27
|
0.04
|
-42.86
|
1.90
|
850.00
|
0.02
|
96.58
|
|
M K Exim (India) Ltd
|
25.75
|
73.75
|
4.39
|
3.29
|
4.17
|
31.13
|
82.25
|
158.40
|
5.07
|
16.77
|
|
Mallcom (India) Ltd
|
109.71
|
5.89
|
15.16
|
19.09
|
10.08
|
18.31
|
692.70
|
3.22
|
55.80
|
12.52
|
|
Mittal Life Style Ltd
|
16.55
|
-17.29
|
0.14
|
16.67
|
-0.05
|
PL
|
11.80
|
16.83
|
0.03
|
444.25
|
|
Monte Carlo Fashions Ltd
|
248.58
|
4.32
|
50.77
|
-3.64
|
30.32
|
-10.59
|
677.35
|
63.45
|
56.29
|
12.21
|
|
Morarjee Textiles Ltd
|
51.99
|
-10.56
|
-12.66
|
-385.06
|
-38.57
|
-52.63
|
21.80
|
15.04
|
-33.73
|
-
|
|
Nahar Spinning Mills Ltd
|
656.87
|
-22.05
|
60.35
|
-71.65
|
39.76
|
-70.89
|
292.25
|
-48.94
|
104.72
|
2.74
|
|
Nandani Creation Ltd
|
12.47
|
-20.47
|
0.92
|
-48.31
|
0.18
|
-82.86
|
114.25
|
115.16
|
-1.22
|
-
|
|
Nutricircle Ltd
|
0.50
|
-
|
0.04
|
LP
|
0.04
|
LP
|
84.85
|
13.36
|
-5.15
|
-
|
|
Osiajee Texfab Ltd
|
0.10
|
-93.1
|
-0.03
|
PL
|
0.07
|
16.67
|
46.60
|
11.35
|
-0.04
|
-
|
|
PDS Ltd
|
97.48
|
183.62
|
5.11
|
-18.76
|
4.00
|
-4.08
|
360.35
|
26.82
|
5.34
|
65.64
|
|
Raymond Ltd
|
1,519.68
|
51.09
|
229.30
|
166.63
|
118.14
|
356.32
|
1,226.70
|
136.61
|
83.35
|
14.54
|
|
S P Apparels Ltd
|
268.70
|
47.03
|
39.13
|
-0.38
|
25.59
|
16.42
|
381.45
|
12.26
|
41.26
|
9.05
|
|
Shoppers Stop Ltd
|
1,008.24
|
59.63
|
163.19
|
131.05
|
19.59
|
LP
|
755.55
|
90.96
|
6.97
|
105.02
|
|
Southern Latex Ltd
|
0.00
|
-
|
-0.04
|
-33.33
|
0.02
|
100
|
20.45
|
61.02
|
0.29
|
68.19
|
|
T T Ltd
|
40.56
|
-65.52
|
-1.61
|
PL
|
-10.98
|
PL
|
98.10
|
15.41
|
-2.41
|
-
|
|
V2 Retail Ltd
|
194.51
|
30.08
|
7.33
|
-49.55
|
-13.39
|
-158.99
|
104.95
|
-47.55
|
-3.79
|
-
|
|
Vandana Knitwear Ltd
|
0.61
|
6000
|
-0.12
|
-500
|
0.03
|
50
|
1.82
|
18.18
|
0.01
|
185.73
|
|
VIP Clothing Ltd
|
52.36
|
-11.88
|
2.60
|
-54.78
|
1.59
|
-26.39
|
38.65
|
78.52
|
-0.09
|
-
|
|
Virat Industries Ltd
|
8.04
|
7.34
|
0.96
|
-17.95
|
0.46
|
-23.33
|
245.00
|
277.50
|
2.66
|
90.47
|
|
Welspun India Ltd
|
1,529.61
|
-14.17
|
60.41
|
-76.87
|
7.84
|
-93.82
|
77.40
|
-45.03
|
1.19
|
65.26
|
|
Industry
|
12,854.44
|
20.22
|
1,862.43
|
0.96
|
810.79
|
-5.45
|
1,61,444.60
|
41.38
|
|
55.33
|
|