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Page Industries Q4FY23 PAT down -58.9% yoy at Rs78 crore on sharp fall in consumption demand

May 25, 2023

By: BlinkX Research Team

Page Industries reported -12.78% fall in sales revenues for the March 2023 quarter on consolidated basis at Rs969 crore. Revenues were down sequentially by -20.78% on the back of weak consumption demand in the quarter. However, for FY23 as a whole, the company reported 23.2% growth in revenue at Rs4,789 crore while the volumes of products sold were up 13.1% at 215.6 million. There was traction on price and on volumes.

For FY23, EBITDA grew 9.8% yoy at Rs863 crore while the Ebitda margins for FY23 were lower by 200 basis points at 18.2%. On a fourth quarter basis, the operating profits fell by 30% sequentially and 49.7% on a yoy basis. EBITDA margins for the quarter also stood lower at 13.9% compared to 24% in the year ago period. Net working capital needs had also gone up due to supply chain constraints in the business.

Financial highlights for Mar-23 compared yoy and sequentially

The company currently has a market cap of nearly Rs46,400 crore with promoters holding 46% stake in the company. While FPIs hold 22.4% stake, the mutual funds hold 16.6% in the company. The retail float is quite low in the market. ROE and ROCE of the company continue to be near the 50% mark, although these numbers tapered in the last couple of years.