Page Industries Limited announced its financial results for the third quarter and nine months ended December 31, 2025. For the quarter, revenue grew by 5.6% year-on-year to Rs. 13,868 million (₹1386.8 crore), with sales volume increasing by 1.4% to 58.6 million pieces. EBITDA for the quarter rose by 5.2% to Rs. 3,181 million (₹318.1 crore), maintaining a strong EBITDA margin of 22.9% due to strategic raw material sourcing and expense controls. Profit After Tax (PAT) for the quarter declined by 7.4% to Rs. 1,895 million (₹189.5 crore). This decrease was primarily attributed to a one-time provision of Rs. 350 million for gratuity and earned leave, necessitated by the new labour codes introduced in November 2025. Excluding these provisions, EBITDA and PAT growth were broadly in line with the previous year's performance. For the nine months ended December 31, 2025, revenue grew by 4.1% to Rs. 39,942 million (₹3994.2 crore), and PAT increased by 3.5% to Rs. 5,851 million (₹585.1 crore). The company maintained its distribution network, with 1,13,600 multi-brand outlets, 1,556 exclusive brand stores, and 1,778 large format stores. The management expressed confidence in accelerating growth through new product launches and strategic initiatives, despite selective consumer demand. During the earnings call, management discussed the company's resilience, focus on operational efficiencies, and the positive impact of direct labour codes. They also addressed questions regarding net realization increases, employee cost management through improved productivity and automation, and the outlook for double-digit growth. The company aims to achieve double-digit growth primarily through volume expansion and strategic initiatives, rather than solely relying on price hikes or market improvements.
