Shares of Page Industries Ltd., the exclusive licensee for Jockey and Speedo brands in India, plummeted 13% in Thursday's trade after the company reported second-quarter earnings for fiscal year 2027 that fell short of analyst expectations.
The stock touched an intraday low of Rs 31,752.10, down from its previous close of Rs 36,510.15. This significant drop reflected investor disappointment despite the apparel manufacturer recording year-on-year growth in both its net profit and revenue.
Q2 FY27 Performance Below Estimates
For the quarter ending September 2026, Page Industries reported a net profit of Rs 202.54 crore, a 4.1% increase compared to Rs 194.76 crore in the same period last year. However, this figure missed the Bloomberg consensus estimate of Rs 207 crore.
Revenue from operations saw an 11.6% rise, reaching Rs 1,439.61 crore against Rs 1,290.86 crore a year ago. Analysts, however, had projected higher revenue of Rs 1,462 crore.
The company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) also came in slightly below forecasts, increasing 7.1% year-on-year to Rs 300 crore, just shy of the Rs 303 crore consensus estimate. Total costs for the quarter rose 12% to approximately Rs 1,182 crore, with raw material expenses climbing 11% to around Rs 360 crore. Other income, however, declined 30% year-on-year to Rs 13.58 crore.
Interim Dividend Declared Amidst Optimism
Despite the earnings miss, Page Industries' board declared a second interim dividend of Rs 150 per equity share for FY27. The record date for determining eligible shareholders has been set for November 18, 2026, with the payment scheduled on or before December 11, 2026. This follows an earlier interim dividend of Rs 200 per equity share declared on August 13, 2026.
The company expressed optimism regarding future demand, anticipating a healthy boost from the upcoming festive season. Management highlighted ongoing efforts to meet demand more efficiently through expanded manufacturing capacity, streamlined operations, and technology-led productivity improvements, while also keeping a close watch on input costs.