PremiumPage Industries, the manufacturer, distributor, and marketer of JOCKEY brands in India, announced its September 2022 quarterly results. On year-on-year, Page Industries posted stable earnings, however, sequentially it witnessed a decline in profitability and revenue. However, Page Industries shareholders are in for a treat as the company declared a second interim dividend of a whopping ₹70 per equity share for fiscal FY23.
Dividend benefits:
This large-cap company's board of directors announced a second interim dividend of ₹70 per share for FY23. The company fixed November 18 as the record date for determining eligible shareholders for the dividend benefits.
Ahead of the record date, Page Industries stock will turn ex-dividend on November 17.
The company plans to pay the second interim dividend on or before December 9, 2022.
Page Industries is among dividend king stocks. Its first interim dividend for FY23 was around 600% aggregating to ₹60 per equity share for its investors. It has a strong track record of paying hefty dividends to its shareholders.
In the fiscal ending March 31, 2022 (FY22), the company paid a massive 3,700% equity dividends to its shareholders aggregating to ₹370 per share.
Currently, its dividend yield is around 0.76%.
Page Industries Q2 earnings:
In Q2FY23, the company posted a PAT of ₹162.1 crore up by 1% yoy but lower by 22% qoq. Revenue stood at ₹1,255 crore higher by 16% yoy but declined by 6% qoq. EBITDA came in at ₹237.9 crore in Q2FY23, while margins were around 19% with an investment of opex in advertising, warehouse capacity, and manpower.
V.S. Ganesh, the Managing Director of Page Industries in the audit report said, “We are pleased to report that historically, this has been the best Q2 for the company in terms of revenue. We are well in line with our guidance of delivering robust growth on the back of strong levers such as increased shift in organised retail, increased branded innerwear demand, and growing aspirations for global brands."
Outlook:
Page Industries MD added, "The Company will continue to invest in capacity building, manpower, business process re‐engineering, digital outreach and advertising while building inventory."
The MD added, "With a strong focus in the fast‐growing Tier 2‐3‐4 markets and with new product introductions to further strengthen our product portfolio, we see a huge opportunity for retail expansion and growth as we move forward."
Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture, distribution, and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and UAE. Also, the company is an exclusive licensee of Speedo International for the manufacture, marketing, and distribution of the Speedo brand in India.
Jockey is the company’s flagship brand and a market leader in the premium innerwear and leisure wear category. The brand is distributed in 2,850+ cities & towns and available in 118,120,+ Multi Brand Outlets, and 1,190+ Exclusive Brand Outlets (EBO) with an extensive presence in 2,740+ Large Format Stores, as also online. Speedo brand is available in 1,090+ stores and27 EBOs, spread across 90+ cities.
Page Industries shares:
The largecap stock finished at ₹48,893.20 apiece on Thursday down by ₹673.05 or 1.36% on BSE. The stock had touched an intraday high and low of ₹49,582.60 apiece and ₹48,202.80 apiece earlier in the day.
Page Industries market cap is around ₹54,534.86 crore on BSE.
Currently, on BSE, Page Industries price-to-equity (PE) ratio is around 75.46x, while its ROE is around 67.30%.
In a year, Page Industries has given double-digit returns in percentage terms to its investors. Its stock has advanced by nearly 23%. On November 10 last year, the company's stock was less than ₹40,000 mark.