Page Inds needs sustained growth

Page Industries Ltd has ended FY25 on a high note. The March quarter (Q4) results surpassed earnings expectations, aided by a 486 basis points (bps) year-on-year (y-o-y) expansion in Ebitda margin to 21.4%.

- Pallavi Pengonda

Page Industries Ltd has ended FY25 on a high note. The March quarter (Q4) results surpassed earnings expectations, aided by a 486 basis points (bps) year-on-year (y-o-y) expansion in Ebitda margin to 21.4%. Stability in raw material prices, especially fabric, sustained higher production efficiency, and controlled operating costs helped operating profit performance.

Page is the exclusive licensee of Jockey International Inc. (USA) in India, and a few other countries. For the full year, Ebitda margin rose 271 bps in FY25 to 21.5%. Still, Page's management is being measured in setting expectations, keeping Ebitda margin guidance at 19-21% in the coming quarters. It isn't looking to raise prices, and neither does it anticipate an increase in raw material cost in the near future. But it sees cost pressures such as salary increases and investments in IT, keeping the margin within the guided range.