Page Industries net profit rises 4-folds to Rs116cr; Stock dips 1.5%

The company continues to have a strong balance sheet, debt-free and with ROCE at 55%.

May 28, 2021 02:05 IST India Infoline News Service

Quarterly Results
Page Industries, India’s leading apparel manufacturer, announced its financial results for the quarter and full year ended 31 st March 2021 today.

Financial Highlights for Q4FY21
  • Revenue, the second highest achieved in any quarter at Rs.880.8cr; marginally lower qoq and up 63% yoy.
  • EBITDA margin at 19%.
  • Reported Profit After Tax is one of the strongest reported by the Company at Rs115.6cr; down 25% qoq and up 272% yoy. PAT margin at 13%, aided by growth in revenues, coupled with efficient control on operating costs.
Financial Highlights for FY21
  • Revenue at Rs2833cr; down 4% yoy. Although, sales were severely impacted due to the covid-19 pandemic during Q1’21, company witnessed a steady recovery with a strong pick-up in sales momentum Q2’21 onwards leading to Q3’21 and Q4’21 reporting best quarterly performance in the history of the Company.
  • The operating cost was reduced by 16% to Rs478.7cr.
  • EBITDA and PAT margins are steady at 19% and 12% respectively.
  • The cash & cash equivalent continued to be strong at Rs434.7cr. The company continues to have a strong balance sheet, debt-free and with ROCE at 55%.
Commenting on the results, Managing Director, Sunder Genomal said, “This has been an unprecedented year for all of us. However, I am pleased to say that during this time, we were able to handle the operational challenges and come out as a stronger and more resilient organization.

Although the year started on a challenging note, we were quick to implement our business continuity plans resulting in one of the best quarter performances for the company in its history. We witnessed a strong demand pick-up across all our product categories. We have added 180 Exclusive Brand Outlets during the year and continue to strengthen our distribution channels.

Our focus continues to be on strengthening our management team with the best talent and invest in digital transformation, technology and innovation in product design and development, marketing and brand building. There is also renewed focus in becoming more efficient and optimal in all aspects of the business, while at the same time taking care to eliminate any wasteful spend or activity.

Given our strong and proven business model, wide product portfolio, efficient financial management and a very loyal customer base, we continue to remain very confident of our medium to long term prospects.”

At around 2:55 PM, Page Industries was trading at Rs31,357.55 apiece down by Rs482.35 or 1.51%.

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