For the financial year ended March 31, 2012, Page Industries turnover increased from Rs. 4,915.62 million to Rs. 6,834.09 million, registering a growth of 39 per cent. Net profit stood at Rs. 899.85 million as against Rs. 585.49 million of the previous year, representing a growth of 54 per cent.
Page Industries has been expanding capacity across all its manufacturing units. Production capacity at the Begur Road complex has stabilised at 35 million pieces and the capacity at the Bommasandra complex at 27 million pieces of garments per annum. At the Kodichikkanahalli complex, the annual capacity has been stepped up to 24 million pieces of garments. The company has also installed centralized automated cutting of garments at this complex.
At the Hosa Road complex, the capacity has stabilised at four million pieces of garments. The unit set up at Kudlu Gate has stabilised with a capacity of 15 million garments per annum. The company has recently set up a unit at Mangammanapalya with an annual capacity of seven million pieces.
Page Industries has also expanded capacity for manufacture of woven elastic to 29 million metres per annum and that for manufacture of knitted elastic to 14 million metres. The capacity of socks has been expanded to 4.4 million pairs per annum.
The company is setting up another factory on a four-acre plot of land allotted by the Karnataka Industrial Areas Development Board (KIADB) at Gowribidanur in Chikkaballapura district. Construction work has already started.
During 2011-12, Page Industries, through its authorised franchisees, opened 11 Jockey exclusive brand outlets (EBOs). With these outlets, the total number of EBOs is 71, well spread out in all major cities.
Jockey is indeed a very well respected brand in its category, not just among consumers but the trade as well. The company is highly encouraged by the brand image, strength and leadership in the market and will continue its unrelenting endeavour to satisfy consumers with the best of products.
The Indian consumer growth story remains healthy, particularly in the premium segment. Apart from general growth in disposable income, factors governing consumption such as education, occupation, exposure to the world, urbanization, rise in nuclear families, etc., favour Jockey as a leading brand in its category.
Agreement with Speedo
Page Industries entered into a license and distribution agreement in July 2011 with Speedo International Ltd., for the exclusive right to manufacture and distribute Speedo products in India consisting of swimwear, apparel, water shorts, equipments and footwear.
The company launched the Speedo brand of products in January last and has achieved sales of Rs. 27.75 million during the year. Speedo is the No.1 brand among swimmers around the world. Though swimwear has not caught on in India, its prospects are bright enough in view of the expected growth in demand.