Page Industries (PAGEIND) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 saw a significant improvement in consumer sentiment and retail demand, driving double-digit volume and revenue growth, supported by strategic initiatives in distribution, brand building, product innovation, and operational efficiency.

• Premiumisation, targeted price adjustments, and digital transformation investments enhanced agility, operational scalability, and higher average selling prices.

• The company was recognized as International Licensee of the Decade by Jockey International, coinciding with the brand's 150th anniversary.

• Audited financial results for the quarter and year ended March 31, 2026, were approved and published, with an unmodified audit opinion from the statutory auditors.

• A 4th interim dividend of ₹150 per equity share was declared, with a record date of May 27, 2026, and payment by June 19, 2026.

Financial highlights

• Q4 FY26 revenue grew 14.1% year-over-year to INR 12,526 million; sales volume up 10.8% to 54.5 million pieces; Q4 EBITDA rose 10.7% to INR 2,605 million (margin 20.8%); Q4 profit after tax increased 9% to INR 1,787 million.

• FY26 revenue was INR 52,468 million, up 6.3% year-over-year; sales volume up 3.9% to 228.4 million pieces; FY26 EBITDA grew 8.5% to INR 11,529 million (margin 22%); PAT up 4.8% to INR 7,638 million.

• Revenue from operations for FY26 was ₹5,24,677.58 lakhs, up from ₹4,93,490.95 lakhs year-over-year; net profit for FY26 was ₹76,382.32 lakhs, compared to ₹72,914.19 lakhs in FY25.

• Basic and diluted EPS for FY26 were ₹684.81, up from ₹653.71 in FY25.

• Exceptional item of INR 350 million (₹3,500.42 lakhs) impacted Q3 and FY26 results due to new labour codes.

Outlook and guidance

• Management targets double-digit volume growth and expects to sustain momentum into FY27, with EBITDA margin guidance for FY27 at 19%-21% reflecting increased marketing spend and inflationary pressures.

• Further price increases are planned in Q1 FY27 to offset input cost inflation, with a focus on not impacting volume growth.

• Targeting sustainable revenue growth with a goal of INR 8,000 Cr by FY28-29 and continued focus on innovation-led sustainability and profitable growth aligned with ESG goals.

• The company continues to monitor the impact of new labour codes and will account for further changes as required.