Page Industries Declares ₹250 Dividend per Share after Q2 Results; Stock Up 15% in 2024

Page Industries Ltd., the well-known licensee for Jockey International and Speedo in India and Sri Lanka, has announced a dividend payout of ₹250 per share to its shareholders following the release of its September quarter results. This follows the first interim dividend of ₹300 that the company declared in June. The record date for this dividend is set for November 16, 2024, with the payout expected to be credited to shareholders on or before December 6, 2024.

For the September quarter, Page Industries reported a strong 6.7% growth in overall volumes, surpassing the expected 5.7% growth. The company’s net profit for the quarter saw a robust increase of 30.5%, reaching ₹195.5 crore, compared to ₹149.8 crore during the same period last year. Additionally, the company’s revenue for Q2 stood at ₹1,246 crore, an 11% increase from ₹1,122 crore in the previous year.

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EBITDA for the quarter increased by 25.6% to ₹296 crore, with the EBITDA margin expanding by over 250 basis points to 23.5% from 21% in the previous year. The company attributed the improved margins to a focus on operational efficiencies, cost control measures, and strategic sourcing.

Page Industries’ management expressed optimism about the future, anticipating a surge in consumer demand, especially with a growing young consumer base and rising disposable incomes in urban areas. The company is also focusing on eco-friendly and sustainable products, which are increasingly being demanded by consumers.

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Despite some fluctuations, Page Industries’ stock is currently trading around ₹44,616 per share, showing a 1% increase post-earnings announcement. The stock has gained 15% in 2024, reflecting strong investor confidence and the company’s positive performance in the competitive apparel retail market.

[Disclaimer: The information provided here is for educational purposes only. Investors should conduct their own research before making any financial decisions. Page Industries' stock price and dividend details are subject to market conditions.]