On standalone basis
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating income) of Page Industries has declined
7.55% to Rs 1,240.03 crore.
Operating profit margin has declined
from 22.20% to 19.51%, leading to 18.78% decline in operating profit to Rs
241.87 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 26.70% to 26.52%. Purchase of finished
goods cost fell from 22.44% to 14.96%. Employee cost increased from
15.02% to 18.62%. Other expenses rose from 15.12% to 18.33%.
Other income fell 42.55% to Rs 1.89
crore. PBIDT fell 19.04% to Rs 243.76 crore. Provision
for interest up 49.36% to Rs 12.74 crore.
PBDT fell 21.04% to Rs 231.02
crore. Provision for depreciation rose 16.66% to Rs 21.01
crore.
Profit before tax down 23.51% to Rs
210.01 crore. Provision for tax was expense of Rs 51.65 crore,
compared to Rs 67.52 crore. Effective tax rate was 24.59% compared
to 24.59%.
Profit after tax fell 23.51% to Rs
158.36 crore.
Promoters’ stake was 46.12% as of 30
June 2023 ,compared to 46.12% as of 30 June 2022 .
Full year results analysis
Net sales (including other operating income) of Page Industries has increased
23.21% to Rs 4,788.64 crore.
Operating profit margin has declined
from 20.21% to 18.02%, leading to 9.84% rise in operating profit to Rs 862.74
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 24.77% to 26.89%. Purchase of finished
goods cost rose from 21.71% to 25.76%. Employee cost decreased from
17.70% to 15.92%. Other expenses fell from 16.51% to 15.84%.
Other income fell 29.79% to Rs 14.73
crore. PBIDT rose 8.81% to Rs 877.47 crore. Provision for
interest up 28.20% to Rs 41.28 crore. Loan funds rose to Rs 406.40
crore as of 31 March 2023 from Rs 109.91 crore as of 31 March
2022. Inventories rose to Rs 1,595.26 crore as of 31 March 2023 from
Rs 974.87 crore as of 31 March 2022. Sundry debtors were lower at Rs
146.07 crore as of 31 March 2023 compared to Rs 165.08 crore as of 31 March
2022. Cash and bank balance declined from Rs 283.46 crore as of 31
March 2022 to Rs 8.10 crore as of 31 March 2023.
PBDT rose 8% to Rs 836.19
crore. Provision for depreciation rose 19.28% to Rs 78.09
crore. Fixed assets increased to Rs 633.04 crore as of 31 March 2023
from Rs 465.70 crore as of 31 March 2022. Intangible assets
increased from Rs 1.97 crore to Rs 2.59 crore.
Profit before tax grew 6.96% to Rs
758.10 crore. Provision for tax was expense of Rs 186.85 crore,
compared to Rs 172.24 crore. Effective tax rate was 24.65% compared
to 24.30%.
Profit after tax rose 6.47% to Rs
571.25 crore.
Promoters’ stake was 46.12% as of 31
March 2023 ,compared to 47.19% as of 31 March 2022 .
Cash flow from operating activities
has turned negative Rs 1.61 crore for year ended March 2023 from positive Rs
326.91 crore for year ended March 2022. Cash flow used in acquiring
fixed assets during the year ended March 2023 stood at Rs 165.65 crore,
compared to Rs 97.96 crore during the year ended March 2022.
Operational highlights:
The
company added 43 EBOs to the network during the quarter and total count is at
1332 as of June 30, 2023.
E-com
business has witnessed growth of 43% YoY.
Dividend: The
Board of Directors of the company has declared 1st interim dividend for FY2023-24
of Rs 75/- per equity share.
Management Commentary:
Commenting on the results, Managing
Director, Mr. V. S. Ganesh said, ““I am pleased to share that the initiatives
taken have led to a substantiative margin recovery and the Company has reported
31% sequential volume growth in Q1. While our year-on-year revenues and volume
growth remain challenged on the back of prevailing market conditions, we remain
steadfast in our conviction that this is merely a transient phase. Our
proactive approach involves continued investment in shaping the future, thereby
ensuring that we capitalize on the promising prospects that lie ahead."
| Page Industries : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,240.03 | 1,341.27 | -7.55 | 4,788.64 | 3,886.46 | 23.21 | | OPM (%) | 19.51 | 22.20 | -270 bps | 18.02 | 20.21 | -219 bps | | OP | 241.87 | 297.81 | -18.78 | 862.74 | 785.46 | 9.84 | | Other Inc. | 1.89 | 3.29 | -42.55 | 14.73 | 20.98 | -29.79 | | PBIDT | 243.76 | 301.10 | -19.04 | 877.47 | 806.44 | 8.81 | | Interest | 12.74 | 8.53 | 49.36 | 41.28 | 32.2 | 28.20 | | PBDT | 231.02 | 292.57 | -21.04 | 836.19 | 774.24 | 8.00 | | Depreciation | 21.01 | 18.01 | 16.66 | 78.09 | 65.47 | 19.28 | | PBT | 210.01 | 274.56 | -23.51 | 758.1 | 708.77 | 6.96 | | PBT before EO | 210.01 | 274.56 | -23.51 | 758.1 | 708.77 | 6.96 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 210.01 | 274.56 | -23.51 | 758.1 | 708.77 | 6.96 | | Taxation | 51.65 | 67.52 | -23.50 | 186.85 | 172.24 | 8.48 | | PAT | 158.36 | 207.04 | -23.51 | 571.25 | 536.53 | 6.47 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 158.36 | 207.04 | -23.51 | 571.25 | 536.53 | 6.47 | | EPS (Rs)* | 142.03 | 185.69 | -23.51 | 512.33 | 481.19 | 6.47 | | | * 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-202306
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
10-Aug-2023
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Page Industries Ltd
|
1,240.03
|
-7.55
|
241.87
|
-18.78
|
158.36
|
-23.51
|
40,066.70
|
-17.34
|
468.67
|
85.49
|
|
Aditya Birla Fashion & Retail Ltd
|
2,987.15
|
7.69
|
364.30
|
-23.31
|
-48.60
|
PL
|
213.70
|
-22.87
|
-0.42
|
-
|
|
Alan Scott Industries Ltd
|
0.00
|
-
|
-0.22
|
46.34
|
-0.20
|
53.49
|
46.55
|
-48.91
|
-4.38
|
-
|
|
Axita Cotton Ltd
|
227.87
|
11.36
|
7.02
|
32.95
|
5.75
|
29.21
|
26.40
|
-10.36
|
0.93
|
28.29
|
|
Dollar Industries Ltd
|
318.92
|
-11.76
|
24.80
|
-33.37
|
14.10
|
-49.41
|
446.40
|
0.56
|
7.84
|
56.93
|
|
Go Fashion (India) Ltd
|
190.10
|
15.07
|
64.22
|
20.37
|
26.28
|
7.53
|
1,257.40
|
14.07
|
15.67
|
80.23
|
|
Gokaldas Exports Ltd
|
514.25
|
-15.74
|
60.65
|
-15.86
|
35.59
|
-11.2
|
505.65
|
50.99
|
27.85
|
18.16
|
|
Golden Carpets Ltd
|
0.18
|
260
|
-0.03
|
70
|
-0.06
|
40
|
9.75
|
21.12
|
-0.25
|
-
|
|
Himatsingka Seide Ltd
|
630.15
|
25.14
|
123.72
|
457.55
|
30.01
|
LP
|
124.55
|
3.40
|
2.15
|
57.95
|
|
Hindoostan Mills Ltd
|
20.45
|
-26.33
|
-1.46
|
-11.45
|
-0.61
|
47.41
|
223.00
|
-14.61
|
-37.65
|
-
|
|
Integra Essentia Ltd
|
55.00
|
-1.72
|
1.28
|
120.69
|
1.11
|
91.38
|
6.28
|
-2.18
|
0.16
|
40.20
|
|
Iris Clothings Ltd
|
24.16
|
3.74
|
6.34
|
49.53
|
3.08
|
76
|
462.20
|
147.70
|
5.88
|
78.63
|
|
Jayatma Enterprises Ltd
|
0.14
|
0
|
-0.04
|
PL
|
0.07
|
600
|
16.01
|
-70.68
|
1.40
|
11.43
|
|
Jindal Worldwide Ltd
|
418.36
|
-37.55
|
34.08
|
-51.34
|
13.53
|
-66.75
|
371.80
|
69.81
|
4.34
|
85.73
|
|
K P R Mill Ltd
|
1,000.19
|
-21.2
|
128.62
|
-54.52
|
101.02
|
-54.91
|
661.25
|
15.55
|
14.98
|
44.14
|
|
Kewal Kiran Clothing Ltd
|
178.40
|
15.44
|
34.14
|
16.36
|
33.84
|
56.74
|
693.80
|
90.24
|
21.35
|
32.50
|
|
KG Petrochem Ltd
|
84.21
|
10.09
|
2.56
|
-74.09
|
-0.99
|
PL
|
202.00
|
-10.95
|
4.62
|
43.75
|
|
Khoobsurat Ltd
|
0.00
|
-
|
-0.11
|
-10
|
0.06
|
-53.85
|
1.17
|
-41.50
|
0.02
|
77.70
|
|
Lagnam Spintex Ltd
|
71.72
|
-9.48
|
7.18
|
-44.73
|
1.36
|
-78.1
|
65.60
|
-14.81
|
2.78
|
23.61
|
|
Lovable Lingerie Ltd
|
30.66
|
-14.93
|
5.24
|
-4.55
|
4.53
|
8.63
|
138.80
|
-5.26
|
0.20
|
684.73
|
|
M K Exim (India) Ltd
|
25.76
|
20.54
|
4.34
|
100
|
3.74
|
100
|
96.25
|
27.74
|
6.77
|
14.21
|
|
Mahalaxmi Rubtech Ltd
|
50.13
|
2.68
|
3.68
|
48.39
|
1.26
|
-19.75
|
160.00
|
21.03
|
5.19
|
30.84
|
|
Mallcom (India) Ltd
|
90.89
|
3.83
|
13.63
|
15.51
|
8.59
|
8.73
|
1,047.15
|
49.59
|
60.19
|
17.40
|
|
Meyer Apparel Ltd
|
1.08
|
9.09
|
-0.60
|
-46.34
|
-0.53
|
-307.69
|
1.81
|
48.36
|
-0.26
|
-
|
|
Mittal Life Style Ltd
|
15.40
|
-0.13
|
0.61
|
1120
|
0.18
|
1700
|
15.25
|
19.61
|
0.17
|
88.49
|
|
Monte Carlo Fashions Ltd
|
138.77
|
22.95
|
-4.17
|
PL
|
-11.59
|
-195.66
|
744.10
|
0.46
|
60.33
|
12.33
|
|
Nahar Spinning Mills Ltd
|
748.90
|
-13.11
|
7.64
|
-93.2
|
-16.05
|
PL
|
242.60
|
-21.43
|
6.96
|
34.84
|
|
Nandan Denim Ltd
|
554.37
|
-28.91
|
20.35
|
-46.36
|
1.71
|
-83.81
|
18.93
|
-29.23
|
-0.56
|
-
|
|
Nutricircle Ltd
|
0.00
|
-
|
-0.38
|
-533.33
|
-0.38
|
-533.33
|
196.35
|
157.68
|
-24.28
|
-
|
|
Osiajee Texfab Ltd
|
0.00
|
-
|
-0.06
|
PL
|
0.01
|
-66.67
|
42.18
|
-18.33
|
0.02
|
2,278.00
|
|
Pioneer Embroideries Ltd
|
73.22
|
-14.05
|
4.17
|
79.74
|
1.05
|
1650
|
45.31
|
-2.14
|
1.10
|
41.02
|
|
Prakash Woollen & Synthetic Mills Ltd
|
16.40
|
-24.74
|
1.81
|
LP
|
-0.66
|
60.24
|
24.14
|
-35.45
|
-3.94
|
-
|
|
RLF Ltd
|
0.00
|
-
|
-0.15
|
PL
|
-0.05
|
-400
|
6.30
|
36.36
|
-0.38
|
-
|
|
Shahlon Silk Industries Ltd
|
48.44
|
-22.17
|
6.61
|
-53.78
|
0.82
|
LP
|
13.21
|
-9.21
|
0.26
|
51.52
|
|
Sheshadri Industries Ltd
|
7.05
|
-50.49
|
-0.44
|
PL
|
-1.10
|
PL
|
13.60
|
-39.42
|
-7.26
|
-
|
|
Shoppers Stop Ltd
|
981.55
|
4.21
|
172.29
|
6.08
|
14.94
|
-34.44
|
807.40
|
32.18
|
10.28
|
78.56
|
|
Southern Latex Ltd
|
0.00
|
-
|
-0.05
|
16.67
|
0.01
|
-
|
17.80
|
1.14
|
0.33
|
54.58
|
|
Spenta International Ltd
|
9.61
|
-35.93
|
0.10
|
-75.61
|
-0.22
|
-37.5
|
139.65
|
78.35
|
3.94
|
35.41
|
|
Spice Islands Apparels Ltd
|
0.20
|
900
|
0.07
|
LP
|
0.05
|
LP
|
20.15
|
98.91
|
0.02
|
866.00
|
|
T T Ltd
|
59.29
|
5.84
|
5.34
|
0.56
|
0.49
|
-23.44
|
86.05
|
4.62
|
-5.96
|
-
|
|
Tirupati Foam Ltd
|
23.39
|
-4.53
|
2.28
|
1.79
|
0.48
|
-2.04
|
103.50
|
8.95
|
4.29
|
24.13
|
|
Trident Ltd
|
1,466.93
|
-12.01
|
228.10
|
-10.26
|
90.31
|
-27.05
|
33.38
|
-12.27
|
0.76
|
43.79
|
|
Vandana Knitwear Ltd
|
0.75
|
92.31
|
-0.09
|
-200
|
0.01
|
-50
|
2.01
|
-4.74
|
0.01
|
179.17
|
|
VIP Clothing Ltd
|
53.66
|
7.06
|
3.54
|
LP
|
0.61
|
LP
|
44.20
|
84.17
|
0.63
|
70.07
|
|
Virat Industries Ltd
|
9.85
|
76.84
|
0.88
|
266.67
|
0.53
|
657.14
|
213.00
|
-3.82
|
4.25
|
50.14
|
|
Voith Paper Fabrics India Ltd
|
44.01
|
15.6
|
12.07
|
23.04
|
9.66
|
31.97
|
1,651.35
|
53.50
|
77.68
|
21.26
|
|
Welspun India Ltd
|
1,702.27
|
23.25
|
253.72
|
258.82
|
155.48
|
957.69
|
118.55
|
61.40
|
2.91
|
40.73
|
|
Wires & Fabriks (S.A) Ltd
|
25.10
|
5.42
|
4.25
|
0
|
0.17
|
6.25
|
154.85
|
72.06
|
4.41
|
35.10
|
|
Industry
|
14,138.96
|
-3.62
|
1,843.70
|
-11.85
|
637.75
|
-33.75
|
1,49,999.13
|
6.88
|
|
55.33
|
|