Subscribe to enjoy similar stories. Page Industries Ltd’s investors seem confident after its September quarter (Q2FY25) results beat expectations on key parameters. The stock hit a new 52-week high of ₹48,393.70 on Monday and has been up about 5% since the results were announced on 7 November.
Revenue growth returned to double-digit in Q2FY25 of around 11% year-on-year after being lacklustre for the previous seven quarters. A low base helped, but management highlighted that growth was seen across channels, driven by the e-commerce channel, mainly quick-commerce. The beginning of festival season toward September end indicated encouraging signs, but the management said it is yet to see a significant revival in consumer sentiment.
Tier 2 and tier 3 towns continue to see better demand trends versus metros and tier-1 aided by a gradual uptick in rural consumption. Page holds the exclusive license for the manufacture, marketing and distribution of the Jockey brand in some countries, including India. Also Read: Page Industries sees uptick, but growth hurdles persist Rationalization of channel inventory has been a niggling worry for Page investors, but the management is hoping for a complete normalization in the second half of FY25.
That said, the management will revisit its earlier $1 billion revenue guidance for FY26 in Q3FY25 as achieving this target could take longer than anticipated due to sluggish demand seen over the last two years. Volumes grew 6.6% year-on-year to 55.2 million pieces. Page has not raised prices since July 2022.
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