Page Industries Limited · NSE:PAGEIND
Page Industries — Q3 FY2021 Earnings Presentation
41 slides from Page Industries's earnings presentation, Feb 10, 2021
Slide 1: Performance Highlights Q3FY21
PERFORMANCE HIGHLIGHTS Q3FY21 FEBRUARY 10, 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 72,300+ Retail Network Performance and Athleisure Management market supported by 15 manufacturing units Healthy ROCE 58% 870+ 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 • Strong growth achieving all-time high Revenue and PAT aided by festive season and increased footfalls due to gradual lifting of the lockdown • Liquidity continues to remain strong with cash and cash equivalents increasing 23% QoQ and 275% YoY to ` 4,941 million • Retail stores of ch
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 Athleisure - New Launches
JOCKEY ATHLEISURE - NEW LAUNCHES Style No. IM21 Style No. IW06 T-SHIRT ALL DAY PANTS Style No. MV23 SHORTS Style No. AW73 LEGGINGS Style No. AW46 T-SHIRT Style No. MV24 TRACK PANTS 17
Slide 18: Jockey Juniors - New Launches
JOCKEY JUNIORS - NEW LAUNCHES Style No. CG18 JOGGER Style No. CB05 TRACK PANTS Style No. AB31 JOGGER Style No. AG44 TRACK PANTS Style No. CB08 T-SHIRT Style No. UG22 JEGGINGS 18
Slide 19: 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 19
Slide 20: Multi Brand Outlets: Pan India Distribution Network
MULTI BRAND OUTLETS: PAN INDIA DISTRIBUTION NETWORK CHANNEL SALES 3,865+ Distributor Accounts 2,890+ Cities / Towns 72,300+ Retail Network 610+ Channel Sales Strength 20
Slide 21: Exclusive Brand Outlets: First to Offer
EXCLUSIVE BRAND OUTLETS: FIRST TO OFFER 870+ Exclusive Brand Outlets 43 Exclusive Woman Outlets 28 Exclusive Juniors Outlets 190+ Outlets in malls 680+ Outlets in high street Present in 300+ cities 21
Slide 22: Large Format Stores: Enhancing Customer Reach
LARGE FORMAT STORES: ENHANCING CUSTOMER REACH 23 Large Format ~ 2,450 ~ 3,900 partners Stores Point of sale across the country 22
Slide 23: 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 23
Slide 24: 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 24
Slide 25: Digital/Social Media Reach
DIGITAL/SOCIAL MEDIA REACH Followers 9,33,452 1,74,907 21,800 25
Slide 26: 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 26
Slide 27: Manufacturing Capabilities
MANUFACTURING CAPABILITIES STRONG IN-HOUSE MANUFACTURING CAPABILITIES COMMITTED TO QUALITY • Our own manufacturing helps set high quality • Facilities spread over 2.4 million sq ft across 15 standards for both in-house and outsourced manufacturing units manufacturing • Present in 14 locations in Kar
Slide 28: 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 28
Slide 29: 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 16.4% 18.6% 19.8% 11.8% 20.9% 19.4% 21.2% 21.6% 13.6% 13.8% 3.3% 18.1% 12.9% 12.5% 11.7% 29,454 28,522 6,169 25,520 3,939 5,406 5,326 3,470 3,432 21,305 4,13
Slide 30: Proven Balance Sheet Strength
PROVEN BALANCE SHEET STRENGTH RONW/ROCE EPS and DPS Working Capital Days 72% 353 110 344 107 311 308 96 89 58% 58% 81 78 55% 58% 239 68 70 51% 208 60 57 161 44% 131 41% 42% 97 40% 85 21 19 21 19 19 19 16 16 9 12 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 Receivables Inventory Payables Net Wor
Slide 31: Profit and Loss Statement: Quarterly
PROFIT AND LOSS STATEMENT: QUARTERLY QoQ YoY Financials (INR mn) Q3FY21 % Q2FY21 % Q3FY20 % growth growth Revenue 9,271 100% 7,403 100% 7,938 100% 25% 17% COGS 4,131 45% 3,297 45% 3,718 47% 25% 11% Employee Cost 1,462 16% 1,299 18% 1,346 17% 13% 9% Other operating cost 1,417 15% 1,153 16% 1,486 19%
Slide 32: Gross Margin
GROSS MARGIN Financials (INR mn) Q3FY21 Q3FY20 FY20 Revenue 9,271 7,938 29,454 Material consumed 4,131 3,718 13,108 Sub contract costs # 343 267 1,237 Contribution 4,796 3,953 15,109 Contribution % 51.7% 49.8% 51.3% Other manufacturing costs 1,026 922 3,536 Gross Profit 3,770 3,031 11,574 Gross Marg
Slide 33: Profit and Loss Statement: Nine Months
PROFIT AND LOSS STATEMENT: NINE MONTHS Financials (INR mn) 9MFY21 % 9MFY20 % YoY growth Revenue 19,522 100% 24,043 100% -19% COGS 8,906 46% 10,880 45% -18% Employee Cost 3,989 20% 3,974 17% 0% Other operating cost 3,058 16% 4,444 18% -31% Emp + operating cost 7,048 36% 8,418 35% -16% EBITDA 3,568 18
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 58% 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. Materials 9 focus areas identified based on our ma
Slide 38: Sustainability Focus Areas
SUSTAINABILITY FOCUS AREAS Economic Performance Sustain strong financial performance by tracking economic value Diversity and Equal Opportunity 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 December 2020 Insurance Companies and Other DIIs, 4.0% Others, 10.1% Mutual Funds, 12.3% Promoter, 48.3% FPI, 25.3% Market Cap: ~ INR 310 bn (as on 1st February, 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