Page Industries Ltd
Incorporated in 1995, Page Industries Limited is the exclusive licensee of JOCKEY International Inc. for manufacturing, distribution and marketing of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal and the UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacturing, marketing and distribution of the Speedo brand in India.
JOCKEY is the company’s flagship brand and a market leader in the innerwear category. Page Industries and Brand Jockey have pioneered the innerwear industry on many fronts. The company has established the premium segment in the innerwear category in India through brand Jockey.
In 2011, Speedo International Limited appointed Page Industries as their sole licensee for the manufacturing, marketing and distribution of the Speedo brand in India. Within just six years of its operations, the brand is present in over 1286 stores in 86 cities and towns across the country. [1]
- Market Cap ₹ 44,457 Cr.
- Current Price ₹ 39,872
- High / Low ₹ 54,349 / 37,807
- Stock P/E 60.6
- Book Value ₹ 1,179
- Dividend Yield 0.93 %
- ROCE 67.2 %
- ROE 54.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 46.3%
- Company has been maintaining a healthy dividend payout of 70.4%
- Company's median sales growth is 18.5% of last 10 years
Cons
- Stock is trading at 33.8 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Readymade Garments/ Apparells Industry: Textiles - Products
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
492 | 697 | 876 | 1,188 | 1,543 | 1,796 | 2,129 | 2,551 | 2,852 | 2,946 | 2,833 | 3,886 | 4,897 | |
400 | 547 | 695 | 931 | 1,223 | 1,419 | 1,714 | 2,010 | 2,234 | 2,412 | 2,305 | 3,099 | 3,844 | |
Operating Profit | 92 | 150 | 181 | 256 | 320 | 376 | 415 | 542 | 618 | 533 | 528 | 787 | 1,053 |
OPM % | 19% | 22% | 21% | 22% | 21% | 21% | 19% | 21% | 22% | 18% | 19% | 20% | 22% |
12 | 5 | 8 | 6 | 8 | 10 | 24 | 21 | 36 | 25 | 19 | 21 | 18 | |
Interest | 7 | 10 | 12 | 15 | 18 | 19 | 19 | 18 | 17 | 34 | 30 | 34 | 35 |
Depreciation | 10 | 11 | 11 | 14 | 18 | 24 | 25 | 28 | 31 | 61 | 63 | 65 | 70 |
Profit before tax | 88 | 134 | 166 | 233 | 293 | 343 | 395 | 518 | 606 | 462 | 453 | 709 | 967 |
Tax % | 33% | 33% | 32% | 34% | 33% | 33% | 33% | 33% | 35% | 26% | 25% | 24% | |
Net Profit | 59 | 90 | 113 | 154 | 196 | 232 | 266 | 347 | 394 | 343 | 341 | 537 | 734 |
EPS in Rs | 52.49 | 80.67 | 100.89 | 137.87 | 175.74 | 207.57 | 238.73 | 311.08 | 353.19 | 307.71 | 305.35 | 481.02 | 658.30 |
Dividend Payout % | 50% | 46% | 50% | 44% | 41% | 41% | 41% | 42% | 97% | 52% | 82% | 77% |
Compounded Sales Growth | |
---|---|
10 Years: | 19% |
5 Years: | 13% |
3 Years: | 11% |
TTM: | 44% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 15% |
3 Years: | 12% |
TTM: | 67% |
Stock Price CAGR | |
---|---|
10 Years: | 28% |
5 Years: | 13% |
3 Years: | 17% |
1 Year: | -5% |
Return on Equity | |
---|---|
10 Years: | 48% |
5 Years: | 46% |
3 Years: | 46% |
Last Year: | 54% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | |
Reserves | 113 | 155 | 202 | 278 | 376 | 519 | 655 | 836 | 764 | 809 | 874 | 1,077 | 1,304 |
115 | 76 | 101 | 163 | 157 | 95 | 88 | 69 | 85 | 176 | 127 | 110 | 153 | |
101 | 132 | 160 | 233 | 279 | 321 | 401 | 497 | 491 | 517 | 688 | 908 | 996 | |
Total Liabilities | 340 | 374 | 475 | 686 | 823 | 946 | 1,154 | 1,412 | 1,351 | 1,513 | 1,700 | 2,107 | 2,464 |
93 | 108 | 132 | 173 | 217 | 217 | 236 | 238 | 301 | 406 | 386 | 402 | 451 | |
CWIP | 1 | 3 | 10 | 4 | 0 | 0 | 24 | 59 | 7 | 29 | 28 | 65 | 116 |
Investments | 3 | 2 | 1 | 0 | 0 | 0 | 52 | 218 | 0 | 0 | 0 | 0 | 0 |
243 | 262 | 331 | 509 | 606 | 729 | 842 | 898 | 1,043 | 1,079 | 1,286 | 1,639 | 1,897 | |
Total Assets | 340 | 374 | 475 | 686 | 823 | 946 | 1,154 | 1,412 | 1,351 | 1,513 | 1,700 | 2,107 | 2,464 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-0 | 123 | 87 | 75 | 167 | 219 | 274 | 453 | 230 | 517 | 696 | 327 | |
-27 | -25 | -42 | -49 | -53 | -26 | -108 | -238 | 192 | -27 | -401 | 119 | |
27 | -97 | -44 | -27 | -113 | -189 | -154 | -188 | -443 | -378 | -366 | -396 | |
Net Cash Flow | -0 | 1 | 1 | -1 | 1 | 4 | 12 | 27 | -22 | 113 | -71 | 49 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 19 | 23 | 24 | 22 | 21 | 21 | 19 | 21 | 16 | 9 | 18 | 16 |
Inventory Days | 316 | 220 | 239 | 337 | 317 | 288 | 264 | 191 | 229 | 200 | 160 | 208 |
Days Payable | 48 | 47 | 48 | 54 | 59 | 50 | 47 | 46 | 37 | 26 | 72 | 77 |
Cash Conversion Cycle | 288 | 196 | 216 | 305 | 279 | 259 | 236 | 166 | 207 | 183 | 106 | 146 |
Working Capital Days | 105 | 64 | 74 | 85 | 81 | 71 | 62 | 40 | 61 | 47 | 14 | 36 |
ROCE % | 48% | 60% | 64% | 64% | 62% | 62% | 60% | 64% | 69% | 53% | 48% | 67% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Details of investors call scheduled on 9 February 2023
- Corporate Action-Board to consider Dividend 20 Jan
- Board Meeting Intimation for Unaudited Financial Results, 3Rd Interim Dividend 2022-23 And Record Date. 20 Jan
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Announcement under Regulation 30 (LODR)-Change in Directorate
9 Jan - Resignation of Mr. Rohan Genomal as Executive Director - Strategy and continue as Non-Executive Director
- Postal Ballot Results And Report Of Scrutinizer 30 Dec
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jun 2021Transcript PPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Mar 2020Transcript PPT
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Dec 2018TranscriptPPT
Brands & Product Portfolio
Co. sells its products under two brands Jockey and Speedo. Under the jockey brand the product portfolio includes underwear, handkerchiefs, caps, towels, etc. co. has opened 211 Exclusive Brand Outlets across India taking the total number of EBO’s to 1,131 including 48 ‘Jockey Woman’ EBOs and 71 Jockey Juniors EBOs. [1]
Product portfolio under the speedo brand includes swimwear, equipment, footwear, etc and the Speedo brand is available in 1,340+ stores, 26 EBOs, and 12 Large Format Stores spread across 230+ cities. [2]