Page Industries Limited · NSE:PAGEIND
Page Industries — Q3 FY2023 Earnings Presentation
40 slides from Page Industries's earnings presentation, Feb 9, 2023
Slide 1: Performance Highlights Q3FY23
PERFORMANCE HIGHLIGHTS Q3FY23 FEBRUARY 09, 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 1,18,838+ Retail Network Performance and Athleisure Management market supported by 15 manufacturing units 1,228+ 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 8,290 in 9 months ended FY23 (715 in Q3 FY23), now present in 1,18,838+ stores and 2,850+ cities and towns • Exclusive Brand Outlets (EBO) - Added 97 in 9 months ended FY23 (37 in Q3 FY23), now present in 1,228+ stores and 415+ cities • Large Format
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. MV13 Tank Top Style No. RX61 Pyjama Style No. MV37 Performance T-Shirt Style No. AB46 Shorts Style No. AG77 Cycling Shorts Style No. RX65 Sleep 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 4,523+ Distributor Accounts 2,850+ Cities / Towns 1,18,838+ Retail Network 714+ Channel Sales Strength 19
Slide 20: Exclusive Brand Outlets: First to Offer
EXCLUSIVE BRAND OUTLETS: FIRST TO OFFER 1228+ Exclusive Brand Outlets 48 Exclusive Woman Outlets 76 Exclusive Juniors Outlets 16 Factory Outlets 224 Outlets in malls 1004+ Outlets in high street Present in 415+ cities 20
Slide 21: Large Format Stores: Enhancing Customer Reach
LARGE FORMAT STORES: ENHANCING CUSTOMER REACH 24 Large Format ~ 2,967 ~ 4,168 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 9,24,007 2,89,638 22,553 24,600 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 20.2% 13.8% 37.2% 21.6% 3.3% -3.8% 13.8% 11.8% 21.2% 18.1% 18.6% 19.8% 38,865 7,855 13.6% 12.0% 5,365 11.7% 29,454 6,169 28,522 28,330 3,939 25,520 5,406 5,3
Slide 29: Proven Balance Sheet Strength
PROVEN BALANCE SHEET STRENGTH RONW*/ROCE EPS and DPS 481 Working Capital Days 353 344 311 308 305 300 72% 96 92 68% 89 250 81 78 58% 58% 71 55% 66 60 59 161 57 54% 49% 131 46% 34 43% 32 40% 21 18 16 19 16 16 9 12 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Receivables Inventory Payables Net Wo
Slide 30: Profit and Loss Statement: Quarterly
PROFIT AND LOSS STATEMENT: QUARTERLY QoQ YoY Financials (INR mn) Q3FY23 % Q2FY23 % Q3FY22 % growth growth Revenue 12,233 100.0% 12,550 100.0% 11,898 100.0% -3% 3% COGS 5,825 47.6% 5,551 44.2% 5,563 46.8% 5% 5% Employee Cost 2,148 17.6% 2,301 18.3% 1,900 16.0% -7% 13% Other operating cost 2,332 19.1%
Slide 31: Gross Margin
GROSS MARGIN Financials (INR mn) Q3FY23 Q2FY23 Q3FY22 FY22 Revenue* 11,907 12,238 11,425 37,406 Material consumed* 5,491 5,237 5,034 15,585 Sub contract costs# 352 460 429 1,575 Contribution 6,063 6,541 5,962 20,245 Contribution % 50.9% 53.4% 52.2% 54.1% Other manufacturing costs 1,592 1,695 1,459 5
Slide 32: Profit and Loss Statement: Nine Months
PROFIT AND LOSS STATEMENT: NINE MONTHS Financials (INR mn) 9MFY23 % 9MFY22 % YoY growth Revenue 38,195 100.0% 27,754 100.0% 38% COGS 17,477 45.8% 12,582 45.3% 39% Employee Cost 6,609 17.3% 5,195 18.7% 27% Other operating cost 6,825 17.9% 4,793 17.3% 42% Emp + operating cost 13,434 35.2% 9,988 36.0%
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 68% 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 December 31st 2022 Insurance Companies and Other DIIs, 4.8% Others, 9.4% Mutual Funds, 14.96% Promoters, 46.1% FPI, 24.66% Market Cap: ~ INR 444 bn (as on 3rd February 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