Page Industries posts double-digit Q2 revenue growth as input costs trim margins

Page Industries, the exclusive Indian licensee for Jockey and Speedo, reported an 11.5 per cent Y-o-Y revenue increase to Rs 1,439.61 crore in Q2 FY27, outpacing broader domestic apparel retail growth of roughly 8 to 10 per cent. Sales volume rose by 5.5 per cent to 59.7 million pieces, indicating that higher-margin athleisure and premium innerwear launches contributed substantially to realizations. For the first half of FY27, turnover climbed 9.7 per cent to Rs 2,860 crore across its network of 1,626 Jockey EBOs and over 1.14 lakh MBOs.

Margin compression and festive outlook

Despite healthy consumer off-take, elevated cotton and crude-linked yarn costs pushed total expenses up 12.7 per cent to Rs 1,182.24 crore. Consequently, operating margins compressed by 80 basis points Y-o-Y to 20.85 per cent, limiting net profit growth to 4 per cent at Rs 202.54 crore and triggering a sharp 10 per cent single-day stock correction. While raw material costs remained elevated, our profitability has remained within our planned range, said VS Ganesh, ,Managing Director, noting, expanded manufacturing capacity and automated supply-chain efficiencies will support festive-quarter margins.

Innerwear and athleisure market leader

Headquartered in Bengaluru, Page Industries manufactures and retails innerwear, athleisure, and swimwear under Jockey and Speedo across India, Sri Lanka, Bangladesh, Nepal, and the UAE. Backed by a debt-free balance sheet and regular interim dividends, the company is expanding manufacturing capacity and Tier-II retail penetration, building on its founding in 1994.