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India's Page Industries sees steady Q2 growth despite soft margins

17 Nov '25

2 min read

India's Page Industries sees steady Q2 growth despite soft margins

Pic: Shutterstock/T. Schneider

Insights

Page Industries has posted modest Q2 FY26 growth, with revenue up 3.6 per cent to ₹12,909 million (~$145.5 million) and sales volumes rising 2.5 per cent, though EBITDA and PAT saw slight declines.
H1 performance was stronger, with revenue up 3.3 per cent and healthier margins.
The company expects consumption to improve with GST 2.0, lower lending rates, and e-commerce growth.

Indian apparel manufacturer Page Industries Limited has reported modest growth for the second quarter and first half of FY26, supported by steady sales volumes and improving consumer sentiment. The company posted a 3.6 per cent rise in Q2 revenue to ₹12,909 million (~$145.5 million), with sales volumes reaching 56.6 million pieces, up 2.5 per cent year-on-year (YoY). EBITDA declined slightly by 0.7 per cent to ₹2,795 million, while profit after tax (PAT) dipped 0.3 per cent to ₹1,948 million.

In the first half (H1) of fiscal 2026 (FY26), the company’s performance was stronger. Revenue grew 3.3 per cent to ₹26,704 million, and sales volumes increased 2.23 per cent to 115.2 million pieces. EBITDA rose 9.4 per cent to ₹5,742 million, and PAT expanded 9.7 per cent to ₹3,956 million, reflecting healthier profitability.

The company noted that expected improvements in consumption—driven by GST 2.0, lower lending rates, rapid e-commerce expansion, and strengthening quick-commerce channels in metros and other cities—are likely to support future growth. The company added that it maintains a leading position in modern retail, and early consumer response to its new bonded-tech product line has been promising, Page Industries said in a press release.

“Our continued focus on operational efficiency and cost optimisation measures while investing in product innovation and distribution expansion has contributed to strong operating margins. While revenue growth was moderate this quarter, we are well positioned to capitalise on the improvement in demand in the coming months,” said VS Ganesh, managing director, Page Industries Limited.

Fibre2Fashion News Desk (SG)

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