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India
As of 18 Sept 2026, 03:30 pm
For the first quarter of fiscal year 2027 (Q1 FY27), Page Industries reported revenue of ₹14,204 million, a 7.9% year-over-year increase, with sales volume growing 5.7% year-over-year to 61.9 million pieces. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) were ₹2,890 million, representing a margin of 20.3%. However, profit after tax decreased by 4% year-over-year to ₹1,928 million. The company attributed the moderation in volume growth to a planned normalization of quarterly schemes and temporary logistics disruptions. A 2.2% weighted-average price increase was implemented in mid-May to offset input costs, with benefits expected in the second quarter. Management has maintained its full-year EBITDA margin guidance of 19% to 21% and its target of double-digit volume growth for FY27.
On September 2, 2026, Page Industries Limited was notified by the Dubai Court of a claim filed by Yellow Flower Trading LLC (YFT). The claim relates to disputes concerning their distribution arrangement in the UAE and seeks AED 113,548,160.81, plus 9% annual interest from October 10, 2025. Page Industries stated its intention to contest these claims vigorously, assessing them as preliminarily without merit. The legal proceedings are currently in their initial stages.
As of September 18, 2026, key technical levels for Page Industries include support at ₹35,860.0 (1.48% below current price) and ₹35,440.0 (2.64% below current price). Resistance is noted at ₹36,430.0 (0.08% above current price) and ₹41,449.38 (13.87% above current price).
As of September 18, 2026, Page Industries has shown varied returns across different timeframes. The stock has returned 4% in the last day, 3% over 20 days, and 2% year-to-date. Over a longer period, it has returned 15% in the last 6 months and 2% over 5 years. However, the stock has experienced a decline of 18% over the last year and a cumulative decrease of 24% since its inception.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q4 FY2026 and comparative quarterly trends.
| Metric | Q4 FY2025-26(Latest) | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 | Q4 FY2024-25 |
|---|---|---|---|---|---|
| Profit Before Tax | ₹237.80 crore | ₹256.25 crore | PEAK₹531.28 crore | ₹270.21 crore | ₹218.68 crore |
| Tax Expense | ₹59.07 crore | ₹66.72 crore | PEAK₹135.73 crore | ₹69.42 crore | ₹54.67 crore |
| Profit Loss For Period | ₹178.73 crore | ₹189.54 crore | PEAK₹395.56 crore | ₹200.80 crore | ₹164.01 crore |
| Revenue From Operations | ₹1,252.60 crore | ₹1,386.76 crore | PEAK₹2,607.42 crore | ₹1,316.56 crore | ₹1,098.07 crore |
| Other Expenses | ₹242.87 crore | ₹252.22 crore | PEAK₹496.54 crore | ₹249.99 crore | ₹249.99 crore |
In the fourth quarter, Page Industries reported revenue of ₹1,252.60 crore, up 14% from the same period last year but down 10% from the previous quarter. Profit after tax rose 9% year-over-year to ₹178.73 crore, also declining sequentially. The profit growth rate trailed revenue growth, resulting in slightly narrower profit margins compared to last year's fourth quarter.
Other expenses, which include items such as selling, distribution, and administrative costs, were ₹242.87 crore in Q4. This was a decrease of ₹9.35 crore (3.71%) from the previous quarter and a decrease of ₹7.12 crore (2.85%) from Q1 FY2025-26. Q2 saw a sharp increase to ₹496.54 crore, consistent with the much higher revenue in that quarter.
Page Industries achieved year-over-year growth in both revenue and profit in the fourth quarter, but profit growth lagged behind revenue growth, leading to slightly narrower profit margins compared to the same quarter last year. Revenue and profit declined sequentially from the third quarter, and the company built up inventory during the quarter. The overall financial story is one of continued annual growth accompanied by modest margin pressure.
Exchange disclosures and regulatory announcements for Page Industries.
On September 2, 2026, Page Industries Limited received a notice from the Dubai Court regarding a claim by Yellow Flower Trading LLC (YFT) concerning disputes over their UAE distribution arrangement. The claim seeks AED 113,548,160.81 plus 9% annual interest calculated from October 10, 2025. Page Industries intends to vigorously contest the claims, which it preliminarily assesses as without merit, while legal proceedings remain in the preliminary stage.
Murugesh C resigned as Company Secretary & Compliance Officer (Senior Management Personnel) of Page Industries Limited, effective from the close of business on 26 August 2026, to pursue another opportunity outside the organization.
Mr. MURUGESH C resigned as Company Secretary (Key Managerial Personnel) of PAGE INDUSTRIES LIMITED, effective August 26, 2026, to pursue another opportunity outside the organization. The resignation letter was received on May 25, 2026.
Page Industries Limited has informed the Exchange about Resignation of Director/KMP/SMP |SUBJECT: Resignation of Director/KMP/SMP
Page Industries reported Q1 FY27 revenue of INR14,204 million (7.9% YoY growth) and sales volume of 61.9 million pieces (5.7% YoY growth). EBITDA was INR2,890 million (margin 20.3%), and profit after tax was INR1,928 million (down 4% YoY). The company attributed the volume growth moderation to a planned normalization of quarterly schemes under the ARS system and temporary quarter-end logistics and manpower disruptions that left about three days of billing undelivered. A 2.2% weighted-average price increase was taken in mid-May to partially offset input cost inflation, with benefits expected in Q2. Management maintained its full-year EBITDA margin guidance of 19% to 21% and its goal of double-digit volume growth for FY27.
Page Industries Limited submitted a newspaper advertisement on August 14, 2026, to the BSE and NSE regarding its financial results for the quarter ended June 30, 2026. The filing was made pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with copies published in Business Line and Samyuktha Karnataka. Murugesh C, the Company Secretary, digitally signed the correspondence dated August 14, 2026.
Page Industries Limited will participate in the J.P. Morgan India Conference on 21 September 2026 at The St. Regis Mumbai, where its management team will interact with investors and analysts in group meetings.
Page Industries Limited has informed the Exchange that Board of Directors at its meeting held on August 13, 2026, declared Interim Dividend of Rs. 200 per equity share. |SUBJECT: Dividend
Recent market and company developments associated with Page Industries.
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Comprehensive Section Breakdown for Page Industries
Strategic Vision: Manufactures and markets innerwear, leisurewear, and swimwear under Jockey and Speedo.
• Exclusive licensing agreements for globally recognized brands.
• Vertically integrated business model from design to retail.
• Extensive distribution network across multiple channels.
• Focus on manufacturing at scale and careful brand building.
Revenue from operations for Q4 FY2025-26 was ₹1,252.60 crore, an increase of ₹154.53 crore (14.07%) from ₹1,098.07 crore in Q4 FY2024-25. Sequentially, revenue fell by ₹134.16 crore (9.67%) from ₹1,386.76 crore in Q3 FY2025-26. Among the four quarters of the current fiscal year, Q4 recorded the lowest revenue, while Q2 was the highest at ₹2,607.42 crore.
Profit after tax (PAT) followed a similar pattern. PAT of ₹178.73 crore was up ₹14.73 crore (8.98%) year-over-year but down ₹10.81 crore (5.70%) from the preceding quarter. The year-over-year growth in PAT was a smaller percentage than the growth in revenue.
The profit before tax (PBT) margin for Q4 FY2025-26 was 18.98% (PBT of ₹237.80 crore divided by revenue of ₹1,252.60 crore), compared to 19.91% in Q4 FY2024-25. The PAT margin was 14.27% in the current quarter versus 14.94% in the same quarter last year. The effective tax rate remained similar at 24.84% in Q4 FY2025-26 and 25.00% in Q4 FY2024-25. The decline in PBT margin indicates that the company's costs, after accounting for other income, rose relative to revenue on a year-over-year basis.
In the quarter ended 31 March 2026, the major expense categories were:
Additionally, the company reported a negative change in inventories of finished goods, work in progress, and stock in trade amounting to ₹90.58 crore. This negative figure means that inventories increased during the quarter, which reduces the total expense line. The build-up of inventory suggests that production exceeded sales in the quarter.
Category: Consumer Goods
This segment includes a wide range of apparel for men, women, and kids, focusing on comfort and lifestyle.
Key Products & Services: Jockey
Category: Consumer Goods
This segment offers performance swimwear and related accessories for competitive and recreational swimmers.
Key Products & Services: Speedo
Core Thesis: The company leverages exclusive licensing agreements for globally recognized brands to build a comprehensive apparel portfolio.
• Vertically Integrated Operations: The business model spans product design, development, manufacturing, sales, marketing, distribution, and retail, ensuring end-to-end quality control. • Multi-Channel Distribution: Products are distributed through exclusive brand outlets, large format stores, multi-brand outlets, multi-purpose stores, and e-commerce platforms. • Brand Building and Nurturing: Focuses on careful brand building and establishing enduring partnerships to create value for consumers and stakeholders.