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Recovery a couple of quarters away for Page Industries; stock falls 8.8%

In Q4, unit volume declined 14.6 per cent year-on-year

Page Industries
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Page continues to hold 17-18 per cent market share in the men’s innerwear category (Jockey has very high brand recall) and its share is in the high single digits in other categories

Devangshu Datta

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Disappointing results for the January-March quarter of the 2022-23 financial year (Q4FY23) has led to high volume selling of the Page Industries stock. 

In Q4, unit volume declined 14.6 per cent year-on-year (YoY), while sales dropped by 12.8 per cent (highest decline in sales since FY12, if we exclude the Covid-19 period). The Ebitda (earnings before interest, tax, depreciation and amortisation) margin of 13.9 per cent was also a multi-year low if Covid-19 is excluded.

The issues included lack of an ability to absorb fixed costs due to volume decline and also the consumption of high-cost inventory. The raw material

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First Published: May 26 2023 | 9:36 PM IST

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