Page sees strong volume growth across categoriesPAGEIND - 41730 Change: -1,186.90 (-2.77 %)
News:Page Industries reported yet another healthy quarter with revenue and PAT coming in at an all-time high. Revenue for the quarter grew 28% YoY to Rs.1189.8 crore (I-direct estimate: Rs.1115.8 crore, two-year CAGR: 22%). It continued to strengthen its distribution network with addition of 11000 MBO touchpoints (total: 105000+ ) in addition to 16200 added in H1 and 36 EBOs (total 1030+). On account of higher RM prices, gross margins declined 219 bps YoY to 53.2% (I-direct estimate: 54.7%). Despite RM inflationary pressure, the company has been able to maintain 20%+ EBITDA margins during the quarter. Absolute EBITDA grew 11% YoY to Rs.250.7 crore (I-direct estimate: Rs.241.0 crore). Tracking the healthy operational performance, PAT grew by 14% YoY to Rs.174.6 crore (I-direct estimate: Rs.166.3 crore).
Views: The company’s products are witnessing strong demand and the management expects the trend to continue. The company is striving to increase the capacities to meet the enhanced demand. All its channels are fully operational and the company is witnessing increased momentum in sales across all product categories backed by expansion in its product portfolio and existing network. The management expects to sustain healthy revenue trajectory and aims to reach sales of US$1 billion by FY26 (CAGR: 21%).