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Informist, Thursday, Feb. 5, 2026

By Astha Oriel and Afra Abubacker 

MUMBAI/NEW DELHI – Apparel manufacturer and distributor Page Industries Ltd. is targeting a double-digit value-driven growth in the coming quarters, the company's management said in an analyst call after announcing December quarter results. The company, which houses the popular brand 'Jockey', said its performance was better in the December quarter, and this is likely to "flow" in the March quarter as well.

The company plans to achieve double-digit growth through increased market penetration and innovation. The company said it has enough headroom for growth across products. Going ahead, the company expects its earnings before interest, taxes, depreciation, and amortization margin to be 19-21%, the management said.

Talking about the challenges in achieving the double-digit growth, the management said that Page Industries has not achieved a double-digit growth due to disruptions in the marketplace and a shift in consumer behaviour from offline shopping to online shopping.

The company said products with premium pricing have performed better than those at entry-level pricing. While the company has not increased prices in the past few years, it is considering price hikes in the coming quarters. "We are keeping a close watch on the cotton prices also, with FTAs (free trade agreements) and all that, there can be pressures on the input cost. So it is very volatile (in terms of pricing) out there. So our pricing strategy will be based on those developments in the market," the management said.

The company saw some gains in the sales of a few products due to the recent cut in Goods and Services Tax. However, the impact of the GST cut was negligible for the overall brand, the management said.

The company's net profit for the December quarter fell 7.4% on year and 2.7% on quarter to INR 1.90 billion, due to one-time costs owing to the implementation of labour codes. The exclusive licensee for Jockey and Speedo products in India reported a top line of INR 13.87 billion for the December quarter, up 5.6% on year and 7.4% sequentially. The company's EBITDA for the December quarter rose 5.2% on year to INR 3.18 billion. Its EBITDA margin for the quarter contracted by 10 basis points on year to 22.9%.

The company plans to expand its presence in Saudi Arabia, Kuwait, and Bahrain. "We've always been in the Middle East, but only in select markets of the UAE, Oman, and Qatar. We now have the license for Saudi Arabia. We have the license for Kuwait and Bahrain. So the whole of GCC (Gulf Cooperation Council) now is a license for Page and Jockey, which we see as a large market, much larger than our current residents in UAE, Oman, and Qatar," the management said.

The company declared its results during market hours on Thursday. Shares of Page Industries closed at INR 35,640 on the National Stock Exchange, up 3.5% from the previous session.  End

Edited by Ashish Shirke

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