15 November 2021, Mumbai:
For the second quarter, Page Industries’ net profit was up 44.7 percent. Revenue increased 46.4 percent. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 41.1 percent. The EBITDA margin -- a key metric -- came in at 21.5 percent in the quarter as against 22.3 percent in the year-ago period.
For garment maker Page Industries, based in Bangalore, sales momentum picked up significantly after setbacks due to the global pandemic. The company saw increased momentum in sales across product categories backed by expansion in its portfolio and its existing network.
Page Industries plans to double manufacturing capacity in India in the next five years. Its current installed capacity is 260 million pieces.
The company’s manufacturing units cover 2.4 million sq ft in total, which includes 14 locations in Karnataka and one location in Tamil Nadu.
The company is currently setting up a greenfield manufacturing factory in Anantpur, where menswear production will run. The company will also set up a new unit at Mysore for manufacturing and raw material warehousing.
The company’s workforce comes to 20,000 with manufacturing operations spread over 15 locations including Bangalore, Mysore, and Tirupur.
TOP 5:
2. Consumers will determine growth of sustainable fashion e-comm in India
3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
5. Nike strengthens retail presences with new store at DLF Mall of India,Noida
