Page Industries Limited, the apparel manufacturer, announced its financial results for the fourth quarter and the fiscal year ended March 31, 2024.
The company reported a 6.1% year-over-year increase in sales volume for Q4, amounting to 45.3 million pieces. Revenue for the quarter reached Rs. 9,954 million, a 3.2% increase from the previous year. Notably, EBITDA grew by 24.5% to Rs. 1,672 million, attributed to the favorable balance between investments in digital transformation, marketing initiatives, and the optimization of input costs and operational expenses. The Profit After Tax (PAT) saw a substantial rise of 38.1%, amounting to Rs. 1,082 million, with PAT margins at 12.4%.
For the fiscal year 2024, Page Industries reported a revenue of Rs. 45,817 million, marking a 2.8% decline due to subdued performance in the first half of the year. However, EBITDA showed a growth of 1.1%, reaching Rs. 8,722 million. The PAT remained consistent with the previous fiscal year at Rs. 5,692 million.
V.S. Ganesh, Managing Director of Page Industries Limited, expressed his satisfaction with the results, highlighting the company’s strategic commitment to sustainable sales practices and meticulous inventory management, which contributed to robust margins and enhanced profitability. He emphasized the importance of optimizing operational efficiency, which played a crucial role in achieving an impressive 38.1% growth in PAT for the fourth quarter. Ganesh noted that adaptive strategies, such as enhancing supply chain productivity and modernizing the distribution management system, have shown positive effects in stabilizing revenue despite generally subdued market conditions. The e-commerce channel continues to drive substantial growth, reflecting changing consumer purchasing behavior. He affirmed that with continued investments in strategic drivers, the company is well-positioned to seize long-term growth opportunities.
Looking ahead, the outlook for the innerwear and athleisure industry in India remains positive, driven by advances in fabric technology and a growing trend towards health-conscious and active lifestyles. Over the next decade, significant growth is expected in the athleisure market, with the shift towards high-quality, functional apparel set to enhance consumer engagement and drive demand in both urban and rural markets.
