Page Industries Q1 preview: Expect a weak set of numbers due to high base, volumes may drop 11%

Page Industries Q1 Results preview: Page Industries, the manufacturer and retailer of innerwear, loungewear, and socks, and the exclusive licensee of the well-known brand Jockey International Inc., will likely report a weak set of numbers for the quarter ended June 30, 2023, due to a high base. The company, according to Zee Business Research, is expected to report a 7 per cent decline in its consolidated revenue at Rs 1,244 crore on a year-on-year (YoY) basis. It had reported revenue of Rs 1,341 crore in the year-ago period.

Page Industries is slated to release its numbers tomorrow (August 10).

Its profit after tax (PAT) is likely to fall 27 per cent YoY to Rs 151 crore against Rs 207 crore registered in the corresponding quarter of the previous fiscal. On the operational front, EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is estimated to come in at Rs 231 crore, down 22 per cent YoY, while the EBITDA margin is seen at 18.5 per cent against 22 per cent in the year-ago period.

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The demand is likely to be weak during the quarter. The company's volumes are expected to see an 11 per cent decline. Further, margins will be impacted due to negative operating leverage. Furthermore, the company's results will also show the impact of ARS implementation.

Besides, investors will keep an eye on the athleisure demand momentum.

Page Industries Q4 Results 

Apparel manufacturer Page Industries Ltd reported a 58.87 per cent decline in net profit at Rs 78.35 crore for the fourth quarter ended March 31 (Q4FY23), on account of the higher cost of inventory and lower capacity utilisation. The company had posted a net profit of Rs 190.52 crore during the January-March period a year ago. Its revenue from operations was down 12.78 per cent to Rs 969.09 crore during the March 2023 quarter, as against Rs 1,111.11 crore logged in the corresponding period of the previous fiscal.

PIL Managing Director V. S. Ganesh said the year was challenging with a general decrease in consumption.

"Although the company experienced some impact on profitability due to higher inventory levels acquired during an inflationary period and lower than optimal capacity utilisation, we have taken several steps to address these issues," he said.

Page Industries' share price

Shares of the company have slipped nearly 6 per cent over the last three months, Trendlyne data show. The stock was listed on the NSE on March 16, 2007.