Page Industries Limited · NSE:PAGEIND
Page Industries — Q4 FY21 Earnings Presentation
41 slides from Page Industries's earnings presentation, May 27, 2021
Slide 1: Performance Highlights Q4FY21
PERFORMANCE HIGHLIGHTS Q4FY21 MAY 27, 2021
Slide 2: Safe Harbour Statement
SAFE HARBOUR STATEMENT This presentation, by Page Industries Limited (the “Company”), has been prepared solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities. This Presentation has been prepared by the Company base
Slide 3: Contents
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING • NEW LAUNCHES COMPANY OVERVIEW • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 3
Slide 4: Page Industries: Vision & Mission Statement
PAGE INDUSTRIES: VISION & MISSION STATEMENT MISSION To be the largest and most profitable premium innerwear MISSION and athleisure brand within To be the number one swim- men, women and kids wear brand in our licensed segments in our licensed markets markets VISION To satisfy the human need for comf
Slide 5: Page Industries: At a Glance
PAGE INDUSTRIES: AT A GLANCE Leading player in Highly Experienced Production Capacity PAN India Presence Strong Financial Premium Innerwear Professional 260 mn pieces 78,000+ Retail Network Performance and Athleisure Management market supported by 15 manufacturing units Healthy ROCE 55% 930+ Exclusi
Slide 6: Our Journey
OUR JOURNEY 2017 2006 Jockey Socks launched 2015 • First Jockey EBO in Sri Lanka • Brand Jockey reached • The turnover of the 2011 50,000 outlets in India Company crossed 2004 • Launch of first INR 1b in terms of International factory selling price • Licensing agreement format EBO in 1995 • Producti
Slide 7: Management Growth Initiatives
MANAGEMENT GROWTH INITIATIVES Capacity Ramp-up in both Manufacturing and Sales Quality Expanding Channel presence in distribution, Integrity Customer Exclusive Brand outlets, Delight Large Format Stores & E-Commerce Page’s Value System Expanding investments People and spends in Sales and Emphasis Si
Slide 8: Attractive Macro Opportunity
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING ATTRACTIVE MACRO • NEW LAUNCHES OPPORTUNITY • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 8
Slide 9: Attractive Macro: Multiple Drivers for Growth
ATTRACTIVE MACRO: MULTIPLE DRIVERS FOR GROWTH Favourable Demographics Industry Growth Drivers 41.7% 31.1% 15 - 34 YRS 27.8% HIGHER INCREASE IN 25.7% LARGEST DISPOSABLE URBAN CONSUMER INCOME POPULATION GROUP 0.8 1.0 1.2 1.5 1991 2001 2011 2030P TOTAL POPULATION (IN BN) URBANISATION (%) INCREASED HIGH
Slide 10: Attractive Macro: Large Market
ATTRACTIVE MACRO: LARGE MARKET Indian Innerwear Market Indian Outerwear Market • Among all the fashion categories, innerwear is one of the fastest growing categories over the last few decades Athleisure Market • Domestic demand of innerwear has changed with consumer buying behavior, transforming fro
Slide 11: Key Highlights
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING • NEW LAUNCHES KEY HIGHLIGHTS • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 11
Slide 12: Key Highlights
KEY HIGHLIGHTS • Continued growth momentum with strong revenue and PAT growth • Liquidity continues to remain strong with cash and cash equivalents increasing 292% YoY to ` 4,347 million • Retail stores of channel partners’ active as of end - March 2021 – 90% of our 78,000+ MBO’s are active – All 93
Slide 13: Multiple Products Offering
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING MULTIPLE PRODUCTS • NEW LAUNCHES OFFERING • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 13
Slide 14: Jockey Product Portfolio
JOCKEY JUNIORS BOYS PRODUCT VESTS BRIEFS TRUNKS PORTFOLIO BOXER SHORTS T-SHIRTS POLO T-SHIRTS TRACK PANTS SHORTS SWEAT SHIRTS JACKETS MEN UNDERWEAR VESTS BRIEFS JUNIORS BOXER BRIEFS GIRLS PANTIES TRUNKS BLOOMERS OUTERWEAR BOXER SHORTS SHORTIES BERMUDAS INNER TEES CAMISOLE TRACK PANTS MIDWAYS TANK TO
Slide 15: Speedo Product Portfolio
SPEEDO PRODUCT PORTFOLIO SWIMACTIVE SWIM H2O ACT ACTIVE SUN TOP CAPRI LEGGING WATERS WATERSHORT EQUIPMENT GOGGLES CAPS TRAINING AID SWIM CONFIDENCE SWIMWEAR S FOOTWEAR F L LEISURE S SLIDE S SWIMDRESS T THONG K KNEESUIT L LEGSUIT F FULL BODY SUIT J JAMMER A AQUASHORTS W WATERSHORTS A ALL-IN-ONE SUIT
Slide 16: New Launches
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING • NEW LAUNCHES NEW LAUNCHES • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 16
Slide 17: Jockey - New Launches
JOCKEY - NEW LAUNCHES Style No. UM40 TANK TOP Style No. AW87 Style No. AM06 LEGGINGS MUSCLE TEE Style No. AG47 T-SHIRT Style No. 1301P Style No. MW23 TRACK PANTS SHORTS 17
Slide 18: Unmatched Market Coverage
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING UNMATCHED • NEW LAUNCHES MARKET COVERAGE • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 18
Slide 19: Multi Brand Outlets: Pan India Distribution Network
MULTI BRAND OUTLETS: PAN INDIA DISTRIBUTION NETWORK CHANNEL SALES 3,900+ Distributor Accounts 2,890+ Cities / Towns 78,000+ Retail Network 620+ Channel Sales Strength 19
Slide 20: Exclusive Brand Outlets: First to Offer
EXCLUSIVE BRAND OUTLETS: FIRST TO OFFER 930+ Exclusive Brand Outlets 46 Exclusive Woman Outlets 38 Exclusive Juniors Outlets 190+ Outlets in malls 740+ Outlets in high street Present in 330+ cities 20
Slide 21: Large Format Stores: Enhancing Customer Reach
LARGE FORMAT STORES: ENHANCING CUSTOMER REACH 22 Large Format ~ 2,350 ~ 3,600 partners Stores Point of sale across the country 21
Slide 22: Online & E-Commerce: Riding the Digital Wave
ONLINE & E-COMMERCE: RIDING THE DIGITAL WAVE EXCLUSIVE ONLINE STORE jockey.in | speedo.in SELLING THROUGH ONLINE KEY PARTNERS …and other Partners 22
Slide 23: Extensive Brand Reach
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING EXTENSIVE • NEW LAUNCHES BRAND REACH • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 23
Slide 24: Digital/Social Media Reach
DIGITAL/SOCIAL MEDIA REACH Followers 9,43,385 1,93,357 22,000 24
Slide 25: Manufacturing Capabilities
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING MANUFACTURING • NEW LAUNCHES CAPABILITIES • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 25
Slide 26: Manufacturing Capabilities
MANUFACTURING CAPABILITIES STRONG IN-HOUSE MANUFACTURING CAPABILITIES COMMITTED TO QUALITY • Our own manufacturing helps set high quality • Facilities spread over 2.2 million sq ft across 15 standards for both in-house and outsourced manufacturing units manufacturing • Present in 14 locations in Kar
Slide 27: Financial Highlights
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING FINANCIAL • NEW LAUNCHES HIGHLIGHTS • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 27
Slide 28: Proven Track Record of Financial Performance
PROVEN TRACK RECORD OF FINANCIAL PERFORMANCE Revenue Revenue Growth % EBITDA EBITDA Margin % PAT PAT Margin % Rs Million Rs Million Rs Million 18.6% 19.8% 11.8% 21.2% 21.6% 13.6% 13.8% 3.3% 19.4% 18.1% 18.6% -3.8% 12.5% 11.7% 12.0% 29,454 28,522 28,330 6,169 25,520 3,939 5,406 5,326 5,266 3,470 3,43
Slide 29: Proven Balance Sheet Strength
PROVEN BALANCE SHEET STRENGTH RONW/ROCE EPS and DPS Working Capital Days 107 353344 72% 96 311 308 305 89 81 78 239 250 71 70 58% 58% 66 60 57 55% 55% 161 51% 131 97 28 41% 42% 19 21 16 18 19 19 40% 16 12 38% 9 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Receivables Inventory Payables Net Work
Slide 30: Profit and Loss Statement: Full Year
PROFIT AND LOSS STATEMENT: FULL YEAR Financials (INR mn) FY 21 % FY 20 % YoY growth Revenue 28,330 100% 29,454 100% -4% COGS 12,639 45% 13,108 45% -4% Employee Cost 5,638 20% 5,317 18% 6% Other operating cost 4,787 17% 5,703 19% -16% Emp + operating cost 10,424 37% 11,020 37% -5% EBITDA 5,266 19% 5,
Slide 31: Profit and Loss Statement: Quarterly
PROFIT AND LOSS STATEMENT: QUARTERLY QoQ YoY Financials (INR mn) Q4FY21 % Q3FY21 % Q4FY20 % growth growth Revenue 8,808 100% 9,271 100% 5,413 100% -5% 63% COGS 3,733 42% 4,131 45% 2,228 41% -10% 68% Employee Cost 1,648 19% 1,462 16% 1,344 25% 13% 23% Other operating cost 1,729 20% 1,417 15% 1,260 23
Slide 32: Gross Margin
GROSS MARGIN Financials (INR mn) Q4,FY21 Q4,FY20 FY21 FY20 Revenue 8,808 5,413 28,330 29,454 Material consumed 3,733 2,228 12,639 13,108 Sub contract costs # 349 325 1,058 1,237 Contribution 4,726 2,860 14,632 15,109 Contribution % 53.7% 52.8% 51.7% 51.3% Other manufacturing costs 1,058 787 3,507 3,
Slide 33: Balance Sheet
BALANCE SHEET Assets (Rs Million) FY21 FY20 FY19 Total Equity & Liabilities (Rs Million) FY21 FY20 FY19 Non Current Assets Equity Share Capital 112 112 112 Reserves and Surplus 8,737 8,087 7,638 Fixed Assets 3,165 3,298 3,079 Total Equity 8,849 8,199 7,750 Financial Assets 213 257 175 Other Non Curr
Slide 34: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS Strong in-house Wide Range of product development Robust Financials Premium Quality and back end with ROCE of 55% Products capabilities Strong Distribution network with strong License with Jockey Strong Balance Sheet; Strong Brand Equity, presence in MBO, EBO, International
Slide 35: Sustainability
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING • NEW LAUNCHES SUSTAINABILITY • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 35
Slide 36: Sustainability Culture
SUSTAINABILITY CULTURE VISION To be a leading apparel company through balanced growth with a focus on quality, innovation and sustainable design, thereby, creating lasting value for all our stakeholders Commitment to Sustainability Building Capacity - Public disclosure through sustainability report,
Slide 37: Sustainability Focus Areas
SUSTAINABILITY FOCUS AREAS Economic Water and Effluent Page sustainability focus areas cover all aspects Performance of value chain viz., product development, supply chain & logistics, manufacturing, sales & 09 01 marketing and economic performance. Governance, Materials Risk and Compliance 9 focus
Slide 38: Sustainability Focus Areas
SUSTAINABILITY FOCUS AREAS Economic Performance Diversity and Equal Opportunity Sustain strong financial performance by tracking economic value generated and distributed, assess and address the financial To ensure a diverse and inclusive workplace through policies, pay implications of sustainability
Slide 39: Shareholding Pattern
CONTENTS • COMPANY OVERVIEW • ATTRACTIVE MACRO OPPORTUNITY • KEY HIGHLIGHTS • MULTIPLE PRODUCTS OFFERING SHAREHOLDING • NEW LAUNCHES PATTERN • UNMATCHED MARKET COVERAGE • EXTENSIVE BRAND REACH • MANUFACTURING CAPABILITIES • FINANCIAL HIGHLIGHTS • SUSTAINABILITY • SHAREHOLDING PATTERN 39
Slide 40: Shareholding Pattern
SHAREHOLDING PATTERN As of 31st March 2021 Insurance Companies and Other DIIs, 4.1% Others, 9.6% Mutual Funds, 12.1% Promoter, 48.3% FPI, 25.9% Market Cap: ~ INR 323 bn (as on 18th May, 2021) 40
Slide 41: Thank You
THANK YOU PAGE INDUSTRIES LIMITED CIN: L18101KA1994PLC016554 Contact Us: For Investor Relations: investors@jockeyindia.com Website: www.jockey.in 41