📈 Live Market Tracking
AI-Powered NSE Corporate Announcements Analysis
Page Industries Q3 FY26: Revenue Up 5.6%, PAT Down 7.4% Due to ₹350M One-time Provision
Page Industries reported a modest 5.6% YoY revenue growth to ₹13,868 million for Q3 FY26, with sales volumes increasing by 1.4% to 58.6 million pieces. While EBITDA grew by 5.2% to ₹3,181 million with a stable margin of 22.9%, PAT declined by 7.4% to ₹1,895 million. This decline was primarily driven by a one-time exceptional provision of ₹350 million related to new labor code requirements for employee benefits. Management remains optimistic about returning to double-digit growth through distribution expansion and productivity gains from automation.
Key Highlights
Revenue grew 5.6% YoY to ₹13,868 million, while 9M FY26 revenue rose 4.1% to ₹39,942 million.
EBITDA margin remained resilient at 22.9% for the quarter, supported by stable input costs and lean initiatives.
Exceptional provision of ₹350 million made for gratuity and earned leave following new labor code notifications.
Headcount reduced by approximately 2,500-3,000 employees due to automation and productivity improvements.
Distribution network expanded to 1,13,600 MBOs and 1,556 EBOs, with strong performance in e-commerce channels.
💼 Action for Investors
Investors should look past the one-time regulatory provision and focus on the company's ability to maintain 22%+ EBITDA margins in a selective demand environment. Monitor the trajectory of volume growth in Q4 as the company aims for a return to double-digit revenue expansion.
Page Industries Q3 Revenue Up 5.6% to ₹13,868 Mn; PAT Dips 7.4% on Exceptional Labor Provision
Page Industries reported a steady 5.6% YoY revenue growth for Q3 FY26, reaching ₹13,868 million, supported by a 1.4% increase in sales volume. While EBITDA grew by 5.2% to ₹3,181 million with healthy margins of 22.9%, the Profit After Tax (PAT) declined by 7.4% YoY to ₹1,895 million. This decline was primarily due to a one-time exceptional provision of ₹350 million related to the notification of new Labour Codes. Excluding this exceptional item, PBT grew by 5.9% YoY, indicating stable underlying operational performance.
Key Highlights
Revenue grew 5.6% YoY to ₹13,868 million with sales volume reaching 58.6 million pieces
EBITDA stood at ₹3,181 million with a strong operating margin of 22.9%
Reported PAT fell 7.4% YoY to ₹1,895 million due to a ₹350 million one-time provision for new Labour Codes
9M FY26 Revenue and PAT grew by 4.1% and 3.5% respectively compared to the previous year
Distribution network remains robust with 1,13,600 retail outlets and 1,556 Exclusive Brand Stores
💼 Action for Investors
Investors should focus on the steady EBITDA margins and underlying PBT growth, as the PAT decline is linked to a non-recurring regulatory provision. Maintain a watch on volume growth recovery and premiumization trends in the innerwear segment.
Page Industries Declares ₹125 Interim Dividend; Q3 Revenue Up 5.6% to ₹1,387 Cr
Page Industries has declared its third interim dividend of ₹125 per share for FY 2025-26, with the record date set for February 11, 2026. The company reported a 5.6% YoY increase in Q3 revenue to ₹1,386.76 crore, indicating steady demand. However, net profit declined by 7.4% YoY to ₹189.54 crore, primarily due to a one-time exceptional charge of ₹35 crore related to the implementation of New Labour Codes. Excluding this non-recurring item, the underlying operational performance remains stable.
Key Highlights
Declared 3rd interim dividend of ₹125 per share, totaling ₹400 per share for FY26 so far.
Q3 FY26 revenue from operations grew 5.6% YoY to ₹1,386.76 crore.
Net profit (PAT) for the quarter stood at ₹189.54 crore, down from ₹204.66 crore in the previous year.
Recognized a one-time exceptional expense of ₹35 crore for compliance with New Labour Codes.
Earnings Per Share (EPS) for the quarter decreased to ₹169.93 from ₹183.48 YoY.
💼 Action for Investors
Investors should value the consistent high dividend payout while treating the profit dip as a temporary impact from regulatory changes. Monitor the stock for margin stabilization in the coming quarters as the impact of the new labor codes is fully absorbed.
Page Industries Q3 Revenue Up 5.6% to ₹1,387 Cr; Declares ₹125 Interim Dividend
Page Industries reported a steady 5.6% YoY growth in revenue to ₹1,386.76 crore for the quarter ended December 2025. Net profit for the period stood at ₹189.54 crore, a 7.4% decline YoY, primarily due to a one-time exceptional charge of ₹35 crore related to the implementation of New Labour Codes. Excluding this non-recurring item, the underlying operational performance remained stable. The company continues its strong payout policy by declaring a third interim dividend of ₹125 per share for FY26.
Key Highlights
Revenue from operations grew 5.6% YoY to ₹1,386.76 crore compared to ₹1,313.05 crore in the previous year.
Net Profit declined 7.4% YoY to ₹189.54 crore due to a ₹35 crore exceptional item for labor code compliance.
Declared a 3rd interim dividend of ₹125 per equity share with a record date of February 11, 2026.
Profit before exceptional items and tax rose 5.9% YoY to ₹291.26 crore, showing resilient core margins.
Total expenses rose to ₹1,107.93 crore, driven by higher raw material consumption and employee benefits.
💼 Action for Investors
Investors should ignore the one-time profit dip caused by regulatory adjustments and focus on the stable revenue growth and high dividend yield. The stock remains attractive for long-term portfolios given its market leadership and consistent payout history.
Page Industries Board to Meet Feb 5 for Q3 Results and 3rd Interim Dividend
Page Industries has scheduled a board meeting on February 5, 2026, to approve its unaudited financial results for the quarter ended December 31, 2025. The board will also consider declaring a third interim dividend for the financial year 2025-26. If the dividend is approved, the company has fixed February 11, 2026, as the record date for payment. An investor and analyst call is also scheduled for February 5 at 4:00 PM IST to discuss the quarterly performance.
Key Highlights
Board meeting scheduled for February 5, 2026, to review Q3 FY26 results.
Consideration of a 3rd interim dividend for the financial year 2025-26.
Record date for the proposed interim dividend fixed as February 11, 2026.
Investor call to be held on February 5, 2026, at 4:00 PM IST following the results.
💼 Action for Investors
Investors should monitor the Q3 earnings for signs of volume growth and margin recovery. Those interested in the dividend should ensure they hold the stock before the February 11 record date.