Page Industries Limited: history, ownership, mission, how it works & makes money

A Brief History of Page Industries Limited

Founded in 1994, Page Industries Limited is the exclusive licensee of the Jockey brand in India, Sri Lanka, Bangladesh, Nepal, Bhutan, and the Maldives. The company was established by Sri. S. P. Oswal, who played a pivotal role in developing the brand in the region.

In its early years, Page Industries focused on manufacturing innerwear and loungewear, leveraging Jockey's established global reputation. By 2002, the company expanded its product offerings to include a wider range of apparel, further enhancing its market presence.

Page Industries was listed on the Bombay Stock Exchange (BSE) in 2007. As of September 2023, the stock price is approximately ₹38,500, having shown significant growth since its IPO price of ₹1,050.

Over the years, Page Industries has posted consistent revenue growth. For the fiscal year 2023, the company's consolidated revenue stood at approximately ₹3,900 crore, an increase from ₹3,500 crore in FY 2022. Net profit for FY 2023 was reported at ₹560 crore, reflecting a growth of 15% year-on-year.

The company has also maintained a robust dividend policy, with a dividend payout of ₹165 per share in 2023, resulting in a dividend yield of approximately 0.43%.

Geographically, Page Industries has also expanded its footprint. The company has a wide distribution network of over 2,400 exclusive brand outlets and more than 40,000 multi-brand outlets across India.

Page Industries has been recognized for its operational excellence and has received various awards over the years. Its commitment to quality manufacturing is reflected in its state-of-the-art production facilities located in Karnataka, which utilize advanced technology for fabric production and garmenting.

Looking to the future, Page Industries continues to innovate and adapt to changing consumer preferences, especially in the e-commerce segment where they have seen a significant uptick in online sales. The company's investment in digital marketing and e-commerce partnerships is expected to further accelerate its growth.

A Who Owns Page Industries Limited

Page Industries Limited, a leading manufacturer and retailer of apparel, particularly in the innerwear and athleisure segments, is publicly traded on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). With a significant presence in the Indian market, the ownership structure is comprised of various stakeholders, including individual and institutional investors.

As of the latest available data from September 2023, the ownership breakdown is as follows:

The major promoter of Page Industries is the J. B. P. & Co. Ltd., holding a substantial stake of around 48.98%. The company has garnered interest from numerous institutional investors, which is reflected in the 17.20% ownership by FIIs, while DIIs own about 8.15%.

Key institutional shareholders include the following:

As of the latest financial year ending March 2023, Page Industries reported total revenues of approximately ₹2,800 crore (around $370 million) with a net profit of ₹490 crore (approximately $65 million), showcasing a year-on-year growth rate of around 15%.

In the fiscal year 2023, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹600 crore (approximately $80 million), reflecting a margin of about 21.4%.

Page Industries has maintained a healthy Return on Equity (ROE) of approximately 25%, which is higher than the industry average. This financial performance reinforces the company's strong market position and effective management.

Page Industries Limited Mission Statement

Page Industries Limited, an Indian company that manufactures and sells innerwear, loungewear, and activewear, is the exclusive licensee for the Jockey International brand in India, Sri Lanka, Bangladesh, and Nepal. The company's mission statement encapsulates its commitment to quality, innovation, and customer satisfaction, aligning itself closely with its core values and business objectives.

The essence of Page Industries' mission statement revolves around creating products that enhance the customer's lifestyle, emphasizing sustainability and social responsibility. The mission is evident in its operational strategies and product lines, ensuring that the brand remains synonymous with quality and comfort.

In the fiscal year 2023, Page Industries reported a revenue of ₹3,550 crores, showing a year-on-year growth of 12%. The company's net profit for the same year stood at ₹505 crores, reflecting a profit margin of approximately 14.2%.

Page Industries is also focused on expanding its retail footprint. As of October 2023, the company operates over 1,500 exclusive brand outlets and has a presence in more than 25,000 multi-brand outlets across India. Additionally, the company has an e-commerce strategy, with its products available on leading platforms like Amazon and Flipkart.

The company has invested significantly in sustainability initiatives, with a goal to reduce operational carbon emissions by 30% by 2030. This aligns with its mission statement's focus on social responsibility, showcasing their commitment to environmental stewardship.

In alignment with its mission, Page Industries emphasizes continuous innovation. The company has launched multiple product lines, including sustainable collections made from organic cotton and recycled materials, catering to the growing consumer demand for eco-friendly products.

Furthermore, Page Industries' mission statement promotes employee well-being, reflected in their retention strategy and training programs. The company reported a retention rate of 90% in 2023, highlighting its commitment to creating a positive workplace culture.

Overall, Page Industries Limited's mission statement serves as a guiding principle for its growth strategies and operational excellence, ensuring that all aspects of the business are aligned with its core values of quality, innovation, and responsibility.

How Page Industries Limited Works

Page Industries Limited is the exclusive licensee of the Jockey International Inc. brand in India. Established in 1994, the company has become a key player in the apparel sector, particularly in the production of innerwear and leisurewear. As of August 2023, Page Industries operates more than 1,600 exclusive brand outlets and has a presence across over 25,000 retail outlets in India.

The company reported a revenue of ₹2,153 crore for the financial year ended March 2023, marking a robust growth of 14% year-on-year. The net profit for the same period was approximately ₹364 crore, which represents a net profit margin of about 16.9%.

Page Industries’ business model revolves around a mix of direct sales and distribution through third-party retailers. The company invests heavily in marketing and brand promotion. For instance, it spent around ₹100 crore on advertising in FY 2022-23, leveraging both traditional and digital channels to enhance brand visibility.

In terms of product offerings, the company has introduced various categories, including men’s innerwear, women’s innerwear, and athleisure products. The men’s innerwear segment accounts for about 55% of total sales, while women’s products make up approximately 30%. The remaining 15% is generated from athleisure and other product lines.

Page Industries focuses on product innovation and quality. The company has a dedicated R&D team that works on developing new products and enhancing existing ones. This commitment to innovation has led to a series of successful launches, including eco-friendly fabrics and moisture-wicking materials, which have been well-received in the market.

The supply chain management of Page Industries is robust, involving partnerships with several manufacturers across India to ensure timely production and distribution. The company oversees quality control at every stage, from sourcing raw materials to final distribution. This approach has helped maintain its reputation for high-quality products.

Geographically, Page Industries has extensive distribution networks in urban and rural areas. The company has also been expanding its international footprint by exporting products to several countries, including the Middle East and Southeast Asia. In FY 2022-23, around 5% of its total sales came from international markets.

As of the market close on October 6, 2023, Page Industries’ share price stood at ₹42,500, with a market capitalization of approximately ₹54,000 crore. The company has consistently delivered value to its shareholders, achieving a return on equity of around 23% and a dividend yield of 1.2%.

The strategic direction of Page Industries involves continuous brand strengthening, expanding product lines, and enhancing distribution channels. The management has set ambitious growth targets, aiming to achieve a **₹5,000 crore** revenue milestone by FY 2025.

How Page Industries Limited Makes Money

Page Industries Limited is the exclusive licensee of the Jockey brand in India, Sri Lanka, Bangladesh, Nepal, Bhutan, and the Maldives. Its revenue streams primarily stem from the sale of premium innerwear, athleisure, and leisurewear products.

In the financial year 2022-2023, Page Industries reported a revenue of ₹3,481 crore, which represented a 12% year-over-year increase. The company's net profit for the same fiscal year was ₹517 crore, reflecting a margin of approximately 14.9%.

Page Industries generates income through various channels including direct-to-consumer sales, retail partnerships, and e-commerce platforms. The company boasts a strong distribution network with over 20,000 retail outlets across India, which is pivotal in driving sales volume.

The innerwear segment remains the cornerstone of Page Industries' operations, contributing approximately 70% of total revenues. The athleisure and leisurewear segments are rapidly gaining traction, now accounting for nearly 20% of overall sales. The balance is generated from a diverse range of products that cater to various consumer segments.

In terms of market positioning, Page Industries holds a significant share of the Indian innerwear market, which is estimated to be valued at around ₹60,000 crore. The company’s competitive edge lies in its premium pricing strategy and robust brand equity.

While the domestic market is crucial, Page Industries is also focusing on international expansion. As of the latest reports, exports contribute to about 5% of total revenues, with plans to increase this share through strategic global partnerships.

Digital sales have surged in recent years, especially during the pandemic, prompting Page Industries to enhance its online presence. The e-commerce channel has grown by over 40% year-on-year, making it a key driver for future growth.

The innovative marketing campaigns and an emphasis on quality have resulted in strong customer loyalty, further bolstering sales figures. Page Industries continues to invest in brand-building activities and product innovation to sustain its growth trajectory.