Page Industries Limited · NSE:PAGEIND
Page Industries — Q4 FY23 Earnings Presentation
40 slides from Page Industries's earnings presentation, May 25, 2023
Slide 1: Performance Highlights Q4FY23
PERFORMANCE HIGHLIGHTS Q4FY23 MAY 25, 2023
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 1,20,060+ Retail Network Performance and Athleisure Management market supported by 15 manufacturing units 1,289+ Exclusive Business O
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 Industry Growth Drivers 10% 107 15 - 34 YRS HIGHER INCREASE IN 67 LARGEST 55 DISPOSABLE URBAN CONSUMER INCOME POPULATION 41 GROUP FY 2015 FY 2018 FY 2020E FY 2025P INCREASED HIGH GROWTH INCREASED MIDDLE, Indian Fashion Market (USD Bn) SHIFT INVOLVEMENT I
Slide 10: Attractive Macro: Indian Apparel Market Segments
ATTRACTIVE MACRO: INDIAN APPAREL MARKET SEGMENTS Men’s Apparel Market Men’s innerwear category in FY2020 is estimated to be USD 1.9 bn and is expected to grow at a CAGR 10.3% 8.6% 14.2% 10.3% 13.6% 8.4% CAGR of 10.3 percent to USD 3.1 bn in FY 2025. 45.3 21.6 Men’s casual and activewear category in
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 • Multi Brand Outlets (MBO) - Added 9,512 in FY23 (1,222 in Q4 FY23), now present in 1,20,060+ stores and 2,850+ cities and towns • Exclusive Brand Outlets (EBO) - Added 158 in FY23 (61 in Q4 FY23), now present in 1,289+ stores and 431+ cities • Large Format stores (LFS) - Now present
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 INNERWEAR VESTS BRIEFS JUNIORS BOXER BRIEFS GIRLS PANTIES TRUNKS BLOOMERS OUTERWEAR BOXER SHORTS SHORTIES BERMUDAS INNER TEES CAMISOLE TRACK PANTS TANK TOPS LOUNG
Slide 15: Speedo Product Portfolio
SPEEDO PRODUCT PORTFOLIO SWIMACTIVE SWIM SUN TOP CAPRI LEGGING WATERS WATERSHORT EQUIPMENT GOGGLES CAPS TRAINING AID SWIM CONFIDENCE SWIMWEAR S FOOTWEAR F S SWIMDRESS S SLIDE K KNEESUIT T THONG L LEGSUIT F FULL BODY SUIT J JAMMER A AQUASHORTS W WATERSHORTS A ALL-IN-ONE SUIT 15
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. MV40 Performance Jacket Style No. RX72 Shorts Style No. UM45 Leisure Jeans Style No. AM28 Track Pants Style No. MW72 Performance 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 4,266+ Distributor Accounts 2,850+ Cities / Towns 1,20,060+ Retail Network 689+ Channel Sales Strength 19
Slide 20: Exclusive Brand Outlets: First to Offer
EXCLUSIVE BRAND OUTLETS: FIRST TO OFFER 1289+ Exclusive Brand Outlets 48 Exclusive Woman Outlets 78 Exclusive Juniors Outlets 16 Factory Outlets 258 Outlets in malls 1061+ Outlets in high street Present in 431+ cities 20
Slide 21: Large Format Stores: Enhancing Customer Reach
LARGE FORMAT STORES: ENHANCING CUSTOMER REACH 24 Large Format ~ 3,062 ~ 4,241 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 9,50,575 2,96,124 22,594 25,800 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 23.2% Rs Million 18.0% Rs Million 20.2% 13.8% 11.9% 37.2% 47,886 21.6% 3.3% -3.8% 8,627 11.8% 18.1% 18.6% 13.8% 5,712 38,865 7,855 12.0% 5,365 11.7% 29,454 6,169 28,522 28,330 3,9
Slide 29: Proven Balance Sheet Strength
PROVEN BALANCE SHEET STRENGTH RONW*/ROCE EPS and DPS 512 Working Capital Days 481 353 344 72% 308 122 68% 305 300 96 92 260 89 58% 250 55% 50% 71 66 60 59 59 161 57 54% 49% 46% 34 43% 32 22 40% 18 16 16 16 9 11 12 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Receivables Inventory Payables Net W
Slide 30: Profit and Loss Statement: Full Year
PROFIT AND LOSS STATEMENT: FULL YEAR Financials (INR mn) FY 23 % FY 22 % YoY growth Revenue 47,886 100.0% 38,865 100.0% 23.2% COGS 21,680 45.3% 17,090 44.0% 26.9% Employee Cost 8,812 18.4% 7,201 18.5% 22.4% Other operating cost 8,767 18.3% 6,719 17.3% 30.5% Emp + operating cost 17,579 36.7% 13,920 3
Slide 31: Profit and Loss Statement: Quarterly
PROFIT AND LOSS STATEMENT: QUARTERLY QoQ YoY Financials (INR mn) Q4FY23 % Q3FY23 % Q4FY22 % growth growth Revenue 9,691 100.0% 12,233 100.0% 11,111 100.0% -20.8% -12.8% COGS 4,203 43.4% 5,825 47.6% 4,508 40.6% -27.8% -6.8% Employee Cost 2,203 22.7% 2,148 17.6% 2,006 18.1% 2.6% 9.9% Other operating c
Slide 32: Balance Sheet
BALANCE SHEET Assets (Rs Million) FY23 FY22 FY21 Total Equity & Liabilities (Rs Million) FY23 FY22 FY21 Non Current Assets Equity Share Capital 112 112 112 Reserves and Surplus 13,599 10,775 8,737 Fixed Assets 4,905 3,766 3,165 Total Equity 13,710 10,886 8,849 Financial Assets 204 221 213 Other Non
Slide 33: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS In-house product Wide Range of development Robust Financials Premium Quality expertise and back with ROCE of 50% Products end capabilities Strong Distribution network across License with Jockey Reputed Brand Equity, Strong Balance Sheet MBO, EBO, LFS and International till
Slide 34: 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 34
Slide 35: 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 Dear Stakeholder, Business resilience is highly valued at Page Industries, and we have displayed
Slide 36: Sustainability Focus Areas
SUSTAINABILITY FOCUS AREAS The nine focus areas are translated into nine missions targeted to drive value by embedding futuristic Economic Performance commitments across the missions. Energy and Governance, Risk and Compliance GHG Emissions Diversity and Equal Water and Opportunity effluents Governa
Slide 37: Sustainability Focus Areas
SUSTAINABILITY FOCUS AREAS • Economic Performance • Governance Risks & • Energy and GHG Emissions • Water & Effluents • Materials 1. INR 2,673.89 million Compliance 1. Energy Intensity at 54.03 (GJ/ 1. Water treatment efficiency 1. 84% of fabric ordered is of economic value was Internal Compliance M
Slide 38: 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 38
Slide 39: Shareholding Pattern
SHAREHOLDING PATTERN As on March 2023 Insurance Companies and Other DIIs, 3.9% Others (incl SWF) 11.0% Mutual Funds, 16.6% Promoters, 46.1% FPI, 22.4% Market Cap: ~ INR 464 bn (as on 19th May 2023) 39
Slide 40: Thank You
THANK YOU PAGE INDUSTRIES LIMITED CIN: L18101KA1994PLC016554 Contact Us: For Investor Relations: investors@jockeyindia.com Website: www.jockey.in 40