Other Apparel & Accessories firm Page Industries announced Q4FY23 & FY23 results: Q4FY23: Q4FY23 Revenues stand at Rs 9,691 million in comparison to YoY Rs 11,111 million, a degrowth of 12.8% whereas QoQ was Rs 12,233 million, a degrowth of 20.8% Q4FY23 EBITDA stands at Rs 1,345 million as compared to YoY Rs 2,671 million, a degrowth of 49.7% & QoQ at Rs 1,928 million, a degrowth of 30.2% EBITDA margins stand at 13.9% compared to 24.0% YoY & 15.8% QoQ PAT stands at Rs 784 million as compared with YoY Rs 1,905 million, a degrowth of 58.9% & QoQ was Rs 1,237 million, a degrowth of 36.7% PAT margins are at 8.1% compared with YoY 17.1% (QoQ 10.1%) Net working capital stood at Rs 7,710 million, compared with YoY Rs 6,317 million (QoQ Rs 8,045 million) FY23: FY23 revenues stood at 47,886 million as compared to Rs 38,865 million in FY22, a growth of 23.2% Volumes are Rs 215.6 million compared with Rs 190.6 million in FY22, a 13.1% growth EBITDA stands at Rs 8,627 million as compared to Rs 7,855 million in FY22 a growth of 9.8% FY23 EBITDA margins are at 18.0% as compared to 20.2% in FY22 FY23 PAT is at Rs 5,712 million as compared to Rs 5,365 million in FY22 a growth of 6.5% FY23 PAT margin is 11.9% compared with 13.8% in FY22 Commenting on the results, Mr. V.S. Ganesh, Managing Director, Page Industries Limited said, “We are pleased at the Company’s overall growth through the year despite a challenging economic climate and a general decrease in consumption. We consider this impact to be temporary and maintain a positive outlook on demand. Although the company experienced some impact on profitability due to higher inventory levels acquired during an inflationary period and lower than optimal capacity utilization, we taken several steps to address these issues. These measures include transitioning to a pull-based auto replenishment system, which allows for better management of inventory levels, and strengthening the supply chain planning to effectively manage the situation. We have confidence in our growth prospects, thanks to our efforts in expanding trade distribution, opening more exclusive brand outlets (EBOs), leveraging e-commerce, improving customer experience, strengthening our product portfolio and enhancing our supply chain." Result PDF