Page Industries

Revenues up 76% YoY aided by increased footfall in stores

Aug 13, 2021 09:08 IST capital market

On Standalone basis

Quarter ended June 2021 compared with Quarter ended June 2020.

Net sales (including other operating income) of Page Industries has increased 76.08% to Rs 501.54 crore.  

Operating profit margin (OPM) has turned from negative 12.18% to positive 6.82%, Operating profit for the quarter stood at Rs 34.21 crore compared to loss of Rs 34.70 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 19.81% to 19.61%.   Purchase of finished goods cost rose from 13.50% to 22.68%.   Employee cost decreased from 59.82% to 30.44%.   Other expenses fell from 23.78% to 20.45%.   

Other income fell 41.16% to Rs 3.56 crore.  PBIDT stood at Rs 37.77 crore compared to loss of Rs 28.65 crore.  Provision for interest fell 4.17% to Rs 7.35 crore.  

PBDT stood at Rs 30.42 crore compared to loss of Rs 36.32 crore.  Provision for depreciation down 0.93% to Rs 15.9 crore.  

Profit before tax reported profit of Rs 14.52 crore compared to loss of Rs 52.37 crore.  Provision for tax was debit of Rs 3.57 crore, compared to credit of Rs 12.82 crore.  Effective tax rate was 24.59% compared to 24.48%.

Profit after tax reported profit of Rs 10.95 crore compared to loss of Rs 39.55 crore.  

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

Others:

The Board of Directors of the company at their meeting held on Aug 12,2021 has declared 1st interim dividend for FY2021-22 of Rs 50/- per equity share.

Management Commentary:

Commenting on the results, Managing Director, Mr. Sunder Genomal said, I am pleased to announce that despite unprecedented challenges posed by resurgence of the pandemic, we delivered YoY growth across all our segments. As an organization we were better prepared owing to the learnings over the last year and were more agile to handle the challenges.

Despite half of the quarter being under lockdown for most cities and states, we could successfully add 1,465 MBOs and 9 EBOs during these three months. We remain focused on profitable partnerships with our distributors while continuing expansion.

Being aware of the shift of consumer preference towards e-commerce, we are well prepared and invested in our warehousing, technology and logistics support to cater to this increasing demand. During the quarter, we also saw great demand and acceptance for our kids wear business which continues to be an important area for us going forward.

With our focused approach on our core business verticals, we remain confident of maintaining growth backed by our continued efforts on innovation and investments.

Page Industries : Standalone Results

 

2106 (3) 2006(3) Var (%) 2103 (12) 2003 (12) Var (%)
Sales 501.54 284.83 76.08% 2832.96 2945.54 -3.82%
OPM (%) 6.82% -12.18% 1900 bps  18.59% 18.08%  51 bps
OP 34.21 -34.70 LP 526.60 532.59 -1.12%
Other inc. 3.56 6.05 -41.16% 19.47 24.64 -20.98%
PBIDT 37.77 -28.65 LP 546.07 557.23 -2.00%
Interest 7.35 7.67 -4.17% 29.74 33.86 -12.17%
PBDT 30.42 -36.32 LP 516.33 523.37 -1.35%
Dep. 15.90 16.05 -0.93% 62.91 61.36 2.53%
PBT 14.52 -52.37 LP 453.42 462.01 -1.86%
PBT Before EO 14.52 -52.37 LP 453.42 462.01 -1.86%
Exceptional items  - - - - - -
PBT After EO 14.52 -52.37 LP 453.42 462.01 -1.86%
Total Tax 3.57 -12.82 PL 112.84 118.79 -5.01%
PAT 10.95 -39.55 LP 340.58 343.22 -0.77%
EPS (Rs)* # #  305.45  307.82
* EPS is on current equity of Rs 11.15 crore, Face value of Rs. 10 Each
# EPS is not annualised due to seasonality of business
BPS- Basis points
LP: Loss to profit
PL: Profit to Loss
Figures in Rs crore
Source: Capitaline Corporate Database

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