Page Industries (PAGEIND) Q4 24/25 earnings summary

Executive summary

• FY25 saw strong financial performance despite inflationary pressures and muted consumer demand in the first half, with recovery in the second half and robust e-commerce growth.

• Audited financial results for the quarter and year ended March 31, 2025, were approved and released, with the auditor issuing an unmodified opinion on the statements.

• Strategic investments in technology, supply chain, and consumer engagement supported sustained growth.

• Proactive inventory management and supply chain efficiency supported market growth and healthy financials.

• New production facility in Odisha is ready for commercial operations, enhancing capacity.

Financial highlights

• FY25 revenue increased 8% to INR 49,349 million (₹4,93,490.95 lakhs); PAT up 28.1% to INR 7,291 million (₹72,914.19 lakhs).

• Q4 FY25 revenue grew 10.6% year-on-year to INR 10,981 million (₹1,09,807.02 lakhs); PAT up 51.6% to INR 1,640 million (₹16,400.50 lakhs).

• FY25 EBITDA grew 23.6% to INR 10,626 million; EBITDA margin at 21.5%.

• Basic and diluted EPS for FY25 stood at ₹653.71, up from ₹510.31 in FY24.

• Inventory days reduced to 64 from 93; working capital days down to 54 from 75.

Outlook and guidance

• No price hikes planned for the near term; focus remains on volume-driven, profitable growth.

• Margin guidance maintained at 19%-21% despite inflationary pressures and increased investments.

• Targeting high single-digit volume growth for FY26, with optimism for improved demand supported by government tax rationalization, low retail inflation, and a normal monsoon forecast.

• Continued investments in IT (1.25%-1.5% of revenue) and marketing (4%-5%).

• Continued focus on digital transformation, product innovation, and expansion in Tier 2 and 3 cities.