Page Industries Limited · NSE:PAGEIND
Page Industries — Q2 FY22 Earnings Presentation
43 slides from Page Industries's earnings presentation, Nov 12, 2021
Slide 1: Cover letter to stock exchanges
11 November 2021 The Secretary The Secretary Corporate Relationship Dept. National Stock Exchange of India The Bombay Stock Exchange Limited 1st Floor, New Trading Ring Exchange Plaza Rotunda Building Bandra Kurla Complex Phiroze Jeejeebhoy Towers Mumbai – 400 051 Dalal Street, Mumbai – 400 001 Dear
Slide 2: Press release: Solid quarter with record growth in Revenues and PAT
For Immediate Release Solid quarter with record growth in Revenues and PAT with increasing market presence Bengaluru, India - 11th November 2021: Page Industries, India’s leading apparel manufacturer, announced its financial results for the quarter and half year ended 30th September 2021 today. Fina
Slide 3: About Page Industries Limited
About Page Industries Limited Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for manufacture, distribution and marketing of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE. Page Industries is also the exclusive licensee of
Slide 4: Performance Highlights Q2FY22
PERFORMANCE HIGHLIGHTS Q2FY22 NOVEMBER 11, 2021
Slide 5: 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 6: Contents: Company Overview
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 7: 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 8: 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 94,200+ Retail Network Performance and Athleisure Management market supported by 15 manufacturing units 1,000+ Exclusive Business Out
Slide 9: 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 10: 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 11: Contents: 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 12: 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 13: 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 14: Contents: 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 15: Key Highlights
KEY HIGHLIGHTS • MBO - Added 13,950 in this quarter in addition to 2,250 in Q1 • EBO - Added 54 in this quarter in addition to 9 in Q1, now present in 1,000+ stores and 350+ cities • LFS - Added 6 LFS & 200+ stores in this quarter • With robust demand we achieved the best quarter in our history, in
Slide 16: Contents: 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 17: 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 TANK TOPS LOUNG
Slide 18: 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 19: Contents: 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 20: Jockey - New Launches
JOCKEY - NEW LAUNCHES Style No. IM22 Full Sleeve T-Shirt Style No. A111 Jacket Style No. UM36 Jogger Style No. AB26 Hoodie Sweatshirt Style No. RG12 Long Length Style No. A100 T-shirt 3/4th Sleeve T-Shirt 17
Slide 21: Contents: 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 22: Multi Brand Outlets: Pan India Distribution Network
MULTI BRAND OUTLETS: PAN INDIA DISTRIBUTION NETWORK CHANNEL SALES 4,130+ Distributor Accounts 2,895+ Cities / Towns 94,200+ Retail Network 655+ Channel Sales Strength 19
Slide 23: Exclusive Brand Outlets: First to Offer
EXCLUSIVE BRAND OUTLETS: FIRST TO OFFER 1000+ Exclusive Brand Outlets 46 Exclusive Woman Outlets 51 Exclusive Juniors Outlets 9 Factory Outlets 200+ Outlets in malls 800+ Outlets in high street Present in 350+ cities 20
Slide 24: Large Format Stores: Enhancing Customer Reach
LARGE FORMAT STORES: ENHANCING CUSTOMER REACH 29 Large Format ~ 2,580 ~ 3,950 partners Stores Point of sale across the country 21
Slide 25: 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 26: Contents: 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 27: Digital/Social Media Reach
DIGITAL/SOCIAL MEDIA REACH Followers 9,52,498 2,09,107 22,160 18,719 24
Slide 28: Contents: 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 29: 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 30: Contents: 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 31: 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 32: 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 33: Profit and Loss Statement: Quarterly
PROFIT AND LOSS STATEMENT: QUARTERLY QoQ YoY Financials (INR mn) Q2FY22 % Q1FY22 % Q2FY21 % growth growth Revenue 10,840 100.0% 5,015 100.0% 7,403 100.0% 116% 46% COGS 4,899 45.2% 2,120 42.3% 3,297 44.5% 131% 49% Employee Cost 1,768 16.3% 1,527 30.4% 1,299 17.5% 16% 36% Other operating cost 1,839 17
Slide 34: Gross Margin
GROSS MARGIN Financials (INR mn) Q2 FY22 Q2 FY21 FY21 Revenue 10,840 7,403 28,330 Material consumed 4,899 3,297 12,639 Sub contract costs # 412 269 1,058 Contribution 5,529 3,836 14,632 Contribution % 51.0% 51.8% 51.7% Other manufacturing costs 1,305 802 3,507 Gross Profit 4,224 3,034 11,125 Gross M
Slide 35: Profit and Loss Statement: Half Yearly
PROFIT AND LOSS STATEMENT: HALF YEARLY Financials (INR mn) H1'22 % H1'21 % YoY growth Revenue 15,855 100.0% 10,251 100.0% 55% COGS 7,019 44.3% 4,775 46.6% 47% Employee Cost 3,295 20.8% 2,528 24.7% 30% Other operating cost 2,865 18.1% 1,642 16.0% 75% Emp + operating cost 6,160 38.9% 4,170 40.7% 48% E
Slide 36: 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 37: Contents: 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 38: 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 39: 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 40: 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, implications of sustainability ris
Slide 41: Contents: 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 42: Shareholding Pattern
SHAREHOLDING PATTERN As of 30th September 2021 Insurance Companies and Other DIIs, 5.6% Others, 9.5% Mutual Funds, 13.2% Promoter, 47.9% FPI, 23.7% Market Cap: ~ INR 437 bn (as on 8th November, 2021) 39
Slide 43: Thank You
THANK YOU PAGE INDUSTRIES LIMITED CIN: L18101KA1994PLC016554 Contact Us: For Investor Relations: [email protected] Website: www.jockey.in 40