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February 5, 2025 PERFORMANCEHIGHLIGHTS Q3FY25
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SAFE HARBOUR STATEMENT 2 This presentation, by Page Industries Limited (the “Company”), has been prepared solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities.This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider relevant. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.This presentation updated as on February 5, 2025 may contain certain forward-looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition, economic growth in our markets, ability to attract and retain highly skilled professionals, our ability to manage our operations, government policies and actions, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.
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3 CONTENTS • QUARTERLY UPDATE - MANAGEMENT COMMENTARY - FINANCIAL HIGHLIGHTS - KEY HIGHLIGHTS - MARKET COVERAGE - NEW LAUNCHES - DIGITAL/SOCIAL MEDIA REACH• COMPANY OVERVIEW - ABOUT PAGE INDUSTRIES - MANUFACTURING CAPABILITIES - PRODUCT PORTFOLIO - EXCLUSIVE BRAND STORE - NEW IDENTITY - MANAGEMENT GROWTH INITIATIVES - KEY STRENGTHS - FINANCIAL PERFORMANCE - SHAREHOLDING PATTERN - SUSTAINABILITY
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MANAGEMENT COMMENTARYWe have achieved strong profit growth, driven by consistent revenue increases and meticulous control over operating expenses. Our unwavering commitment to investing in top talent, product innovation, and digital transformation is propelling us towards our strategic goals. We are perfectly positioned to seize promising future growth opportunities, with modern retail and e-commerce continuing to serve as powerful growth engines. Our focus on these areas not only strengthens our overall market position but also ensures we remain at the forefront of industry advancements. 4
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FINANCIAL HIGHLIGHTS 5 •Meticulous control over operating expenses, consistent revenue growth and improvement in inventory turns have contributed to achieve 23% EBITDA margin in Q3 Financials (INR mn)Q3FY25 %Q2FY25 %Q3FY24 %QoQ growthYoY growthRevenue13,131 12,463 12,256 5.4%7.1%EBITDA3,025 23.0%2,815 22.6%2,264 18.5%7.5%33.6%PBT 2,750 20.9%2,625 21.1%2,021 16.5%4.8%36.1%PAT 2,047 15.6%1,953 15.7%1,524 12.4%4.8%34.3% Financials (INR mn)9M FY'25%9M FY'24%YoY growthRevenue38,36835,768 7.3%EBITDA8,273 21.6%6,955 19.4%19.0%PBT 7,599 19.8%6,115 17.1%24.3%PAT 5,651 14.7%4,610 12.9%22.6%
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KEY HIGHLIGHTS FOR Q3 FY25 6 Market Commentary-Operating environment in Q3 continued to be affected by subdued demand conditions-Festivities in the beginning of Q3 propelled demand but was not sustained subsequently-Modern retail including Exclusive branded Stores and ecommerce continues to grow impressively Trade Update-We have maintained the momentum to increase consumer touch points through network expansion across general trade and modern retail-Ecommerce Channels continues to outperform other sales channels through expanding penetration, innovation and enhanced consumer experiences-Modernising distributor management system through digitisation is expected to enhance productivity across general trade
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UNMATCHED MARKET COVERAGE 7 3,986 Distributor Accounts 2,710 Cities / Towns1,10,176 Retail Network 761 Team Strength 1,436Exclusive Brand Stores37 Exclusive Woman Stores51 Exclusive Juniors Stores16 Factory Outlets513 Cities / Towns 15Partner Chains1,212 Stores1,753 Points of Sale Jockey.inSpeedo.in ... and more Partners Multi-BrandTrade ChannelExclusive Brand StoreKey Department StoreECommerce
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JOCKEY - NEW LAUNCHES 8 Style No. MV41Polo Style No. MV55Shorts Style No. A156Oversized T-shirt Style No. U107Hoodie
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9Followers9,28,1383,03,29122,75734,952 DIGITAL/SOCIAL MEDIA REACH
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10 COMPANY OVERVIEW
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11 VISIONTo satisfy the human need for comfort; by ensuring our consumers always get the most comfortable and innovative products at the best possible quality and value for money MISSIONTo be the largest and most profitable premium innerwear and athleisure brand within men, women and kids segments in our licensed markets VISIONTo inspire people to swim; with Speedo MISSIONTo be the number one swimwear brand in our licensed markets PAGE INDUSTRIES: VISION & MISSION STATEMENT
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12 Leading player in Premium Innerwear and Athleisure marketHighly Experienced Professional Management supported by19,896 Employees 79% Women Employees Production Capacity250 mn pieces 16 manufacturing unitsStrong backward integration PAN India Presence1,10,176 Retail Network1,436 Exclusive Brand Stores1,212 Large Format Stores& E-Commerce Strong Financial PerformanceHealthy ROCE 75% •Jockey is the world’s best-loved and most recognisable brand. Active in more than 147 countries•Exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE•Products include Innerwear, Athleisure, Socks for Men and Women, Thermal, Towels, Handkerchief, Caps and Face Mask •Speedo International Ltd. is a manufacturer and distributor of swimwear and swimming accessories based in Nottingham, UK•Exclusive licensee of Speedo International Ltd. for manufacture, distribution and marketing in India•Products include Swimwear, Equipment, Water shorts, Apparel and Footwear PAGE INDUSTRIES: AT A GLANCE
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JOCKEY PRODUCTPORTFOLIO 13
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SPEEDO PRODUCTPORTFOLIO 14
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MANUFACTURING CAPABILITIES 15 STRONG IN-HOUSE MANUFACTURING CAPABILITIESCOMMITTED TO QUALITY•Facilities spread over 2.2 million sq ft across 16 manufacturing units•Present in 15 facilities in Karnataka, 1 in Tamil Nadu and upcoming facility in Odisha•>70% in-house manufacturing •Our own manufacturing helps set high quality standards for both in-house and outsourced manufacturing •Monitor every stage of manufacturing process: Designing, Raw Materials, Production Process, Packaging and Final Products LocationUnitsEmployeesBangalore67,369Mysore34,457Hassan33,703Gowribidanur11,428Tiptur11,033Tirpur2193Grand Total1618,183 KR Pet Unit Sewing Unit
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EXCLUSIVE BRAND STORE 16
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GROWTH INITIATIVES 17 Capacity Ramp-up in both Manufacturing and Sales Expanding Channel presence in distribution, Exclusive Brand outlets, Large Format Stores & E-Commerce Brand building initiatives to amplify brand presence, product awareness and enhance consumer engagement. Expanding investments and spends in Sales and Marketing at Point of Sale Enhance investments in R&D, Product Development and Innovation, Automation and Digital Transformation
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KEY STRENGTHS 18 Reputed Brand Equity, Image and Leadership In-house product development expertise and back end capabilities Strong Distribution network across MBO, EBO, LFS and E-Commerce Wide Range of Premium Quality Products License with Jockey International till 2040 Robust Financials with ROCE of 75% Strong Balance Sheet
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PROVEN TRACK RECORD OF FINANCIAL PERFORMANCE 19 Revenue` Million 29,45428,33038,865 FY20FY21FY22 47,142 45,817 EBITDA` Million (EBITDA Margin %) 5,326(18.1%) PAT` Million (PAT Margin %) FY23FY24FY20FY21FY22FY23FY24FY20FY21FY22FY23FY24 5,266 (18.6%)7,855(20.2%)8,775(18.6%) 8,598(18.8%) 3,432 (11.7%)3,406(12.0%)5,365(13.8%) 5,712(12.1%) 5,692(12.4%) Delivered growth with steady margins Strong Brand ValueExpansion of Distribution NetworkFocus on Profitable Growth
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PROVEN BALANCE SHEET STRENGTH 20 RONW/ROCE58%55%68%58%51%43%40%54%46%38% FY20FY21FY22FY23FY24RONWROCE EPS and DPS FY20FY21FY22FY23FY24 308 161 305250 481300 512 260 510 250 EPSDPSFY20FY21FY22FY23FY24 Working Capital Days 918161113 89719212493 1232342218 5766595975 ReceivablesInventoryPayablesNet Working Capital Investing in future, through strong internal accruals and generating high ROCE. High returns for shareholdersBest in class Return on Capital Employed
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21 Promoters, 42.89% FPI, 22.66% Mutual Funds, 21.67% Insurance Companies and Other DIIs, 7.02%Others (incl SWF), 5.76% Market Cap: ~ INR 529 bn(as on December 2024) SHAREHOLDING PATTERNAs on December 2024
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Social Responsible Supply Chain Diversity and Equal Opportunity Governance, Risk and Compliance Economic Performance Energy and GHG Emissions Water and effluents Materials Product Stewardship Occupational Health and Safety Sustainability Framework Environment Governance SUSTAINABILITY 22 I am pleased to share our 6th Sustainability Report, highlighting our steadfast commitment to responsible business practices and environmental stewardship. This report outlines our progress over the past year and reflects how sustainability is embedded in our operations, aligning growth with positive societal and environmental impact. Despite an unpredictable economic landscape, we have remained resilient, achieving all our targets sustainably. Notably, we reduced energy intensity by 18% compared to our FY 2019-20 baseline, surpassing our original target of 17% by FY 2023-24. This milestone aligns with India’s decarbonisation agenda and reinforces our commitment to energy efficiency and waste reduction.In FY 2023-24, we recycled 100% of pre- and post-consumer plastic waste, totalling 1,127 metric tonnes, contributing to Sustainable Development Goal (SDG) 12. This reflects our focus on waste minimisation, reduction, and recycling to lower our environmental impact. Our workforce of 19,461 employees remains central to our sustainability journey. We are committed to fostering a safe, inclusive, and innovative workplace that empowers our people to contribute meaningfully to our shared goals, driving both individual and organisational success.As we grow, we remain deeply committed to innovation and sustainability across environmental, social, and governance dimensions, ensuring a lasting positive impact on the planet and its people.I extend my heartfelt gratitude to our entire workforce and management team for their relentless dedication and hard work. It is their collective efforts that have enabled us to achieve these remarkable milestones and lay the foundation for continued success.Thank you for your trust and support, which inspire us to drive progress, deliver sustainable growth, and build a future we can all be proud of. Sunder (Ashok) Genomal, The nine focus areas are translated into nine missions targeted to drive value by embedding futuristic commitments across the missions. Targets for Sustainability Focus Areas Sustainability Report: View here
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SUSTAINABILITY MILESTONES 23 Economic Performance•Conducted an analysis of the nudge factor pertaining to emission reduction for the Odisha solar plant (in progress).•Continued commitment to the vulnerable/disadvantaged sections of the society by contributing ₹ 84.66 million Governance, Risk, and Compliance: •The company achieved 100% on-time compliance for FY 2023-24 Energy and GHG Emission•Energy Intensity at 52.41 achieving an 18% reduction against•GHG Emission (Scope 1&2) Intensity at 7.64 (tCO2e/Million Minutes Produced) achieving 29% reduction against FY 2019-20 Water and Effluents:•Improved water use efficiency by 16.57% in FY 2023-24•A water neutrality study has been initiated for two manufacturing units, with plans to expand the assessment to other units.•PIL installed the Low-Temperature Evaporator (LTE) system for ETP to ensure Zero Liquid Discharge (ZLD) to eliminate the risk of effluent transportation and disposal at Unit 21. Materials•100% vendors/suppliers (Fabric, Elastic, Yarn) are OEKO-TEX® Certified in FY 2023-24•100% (1,127 MT) of pre- and post-consumer plastic waste was recycled in FY 2023-24 as per CPCB target Product stewardship•100% of product developments are undertaken in collaboration with OEKO-TEX-certified vendors. •IP-Packaging material Lamination has been removed for all products except socks packaging. Responsible Supply Chain•18 outsourcing garment vendors and 24 raw material suppliers were audited (annual/bi-annual/need basis) and conducted 2 awareness sessions on responsible business practices which cover 80% of the value chain partners.•Phase 1&2 implementation of RSL policy is completed. Phase 3 is in progress and expected to be completed in FY 2025. Occupational Health & Safety•Achieved the 0.8 safety training index for EHS training•Achieved zero waste diversion to landfill in FY 2023-24.•100% Implementation of WASH Pledge and Third-Party Audit was completed in 2023-24 Diversity and Equal Opportunity •During the reporting year, 100% of the workforce (including contract employees) is sensitised through POSH awareness sessions and training programs.•Gender Pay Parity study for the non-staff category is completed. For staff, pay gap analysis will be initiated in the upcoming years.
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SUSTAINABILITY RECOGNITION The Page Industries Limited has been awarded “Best Garment Industry” by the Karnataka Safety Institute, Department of Factories, Boilers, Industrial Safety, and Health, in association with the National Safety Council, Karnataka Chapter, “for practicing the best Safety Health, Environment and welfare initiatives in our manufacturing units.” Awards were organised as a part of the “53rd National Safety Day, 2014” celebration. Committed to excellence across all aspects of operations, this comprehensive framework combines best practices in quality management, environmental responsibility, and occupational health and safety at Page Industries. By integrating these essential systems, the company upholds the highest standards, mitigates risks, and cultivates a culture of ongoing improvement. The IMS serves as a cornerstone of the company’s sustainability strategy, ensuring responsible practices and ethical operations throughout the value chain. Page Industries Limited is pleased to announce its commitment to 5S principles. Unit 17 has been certified as a “Model Factory,” while Units 12, 16, and 25 are competing for “Model Level Certification.” Additionally, Units 1, 4, and 20 are striving for “Sustenance Level 2 Certification,” Units 3, 11, 22, and 28 are competing for “Sustenance Level 1 Certification,” and Units 14, 19, and 21 are working towards “Basic Level Certification.”
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PAGE INDUSTRIES LIMITEDCIN: L18101KA1994PLC016554Contact Us: For Investor Relations: investors@jockeyindia.comWebsite: www.jockey.in THANK YOU 25