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Exclusive licensee of Jockey posts 49% jump in net profit
09 May '07
2 min read
Page Industries Limited the exclusive licensee of Jockey International Inc (USA) for India, Sri Lanka, Nepal, Bangladesh and Maldives, has posted a 49% jump in its Net Profit of Rs. 170.27 million for the year ended March 31, 2007, as compared to the Net Profit of Rs. 113.91 million posted during the last fiscal.
The Net Sales/Income from operations during the year shot up 34% to Rs. 1359.40 million as compared to Rs. 1011.86 million posted during the last fiscal. Basic and diluted EPS based on the year end equity stood at Rs.15.27.
Mr. Sunder (Ashok) Genomal, Chairman and Managing Director, Page Industries Ltd, said, “The premium innerwear market is posting double-digit growth and we intend to increase our market share to around the 30% mark."
"Over the next three years, we expect our topline to grow at a CAGR of 35%. Our existing businesses will grow due to the retail revolution, growing consumer sophistication, higher disposable income and urbanisation. We shall also benefit from export opportunities emerging from Jockey International USA and Europe.”
The Company recently tapped the capital markets through an initial public offering (IPO) to raise funds for brand building and expansion of garment manufacturing capacity in the existing facility.
It plans to set up a new garment manufacturing facility at Bommasandra, Bangalore. It intends to expand the elastic manufacturing facility and socks manufacturing facility.
It will also implement next generation ERP software (SAP) and modernise its production process. It intends to expand the existing range of products through innovation and accelerate the brand building efforts.
It will seek to explore export initiatives while exploiting the unprecedented retail growth in India. It will continue to invest in further strengthening manufacturing infrastructure in order to cope up with the growing demand.
The Net Sales/Income from operations during the year shot up 34% to Rs. 1359.40 million as compared to Rs. 1011.86 million posted during the last fiscal. Basic and diluted EPS based on the year end equity stood at Rs.15.27.
Mr. Sunder (Ashok) Genomal, Chairman and Managing Director, Page Industries Ltd, said, “The premium innerwear market is posting double-digit growth and we intend to increase our market share to around the 30% mark."
"Over the next three years, we expect our topline to grow at a CAGR of 35%. Our existing businesses will grow due to the retail revolution, growing consumer sophistication, higher disposable income and urbanisation. We shall also benefit from export opportunities emerging from Jockey International USA and Europe.”
The Company recently tapped the capital markets through an initial public offering (IPO) to raise funds for brand building and expansion of garment manufacturing capacity in the existing facility.
It plans to set up a new garment manufacturing facility at Bommasandra, Bangalore. It intends to expand the elastic manufacturing facility and socks manufacturing facility.
It will also implement next generation ERP software (SAP) and modernise its production process. It intends to expand the existing range of products through innovation and accelerate the brand building efforts.
It will seek to explore export initiatives while exploiting the unprecedented retail growth in India. It will continue to invest in further strengthening manufacturing infrastructure in order to cope up with the growing demand.
Page Industries Limited
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