ALFA Finder
The call ran from 4:01 PM to 4:54 PM IST (53 min).
Key takeaways
Page Industries maintained margins within its guided range despite severe raw material inflation and a festive-driven volume shift.
| EBITDA Margin: guided vs achieved | 20.80% achieved Guided 19.00%–21.00% |
|---|---|
| Management target | Revenue |
| Revenue growth | 11.5% YoY growth; Q2 revenue ₹14,396.1 million. |
|---|---|
| Margins | EBITDA margin at 20.8% vs 21.7% YoY due to cost inflation. |
| Demand visibility | Positive underlying demand; festive shift pushed primary volumes to Q3. |
| Management confidence | Confident in demand resilience despite transitory festive shifts and cost pressures. |
Growth
Revenue grew 11.5% YoY, partly supported by a 2.5% price hike, while volumes grew 5.5%.
Outlook
Management maintains double-digit volume growth guidance for FY27, banking on a strong H2 recovery.
Risks
Persistent high cotton and crude-based material costs; FEMA compliance penalties (estimated up to ₹48 Crores).
Last quarter's promises, checked
Delivered
- EBITDA margin 19–21% (FY) → 20.8% (= BEAT)
- Q2 catch-up of ~3 days undelivered billing → revenue +11.5% YoY vs Q1 +7.9% (= BEAT)
- Disney/Marvel go-to-market end-June → range launched (= BEAT)
Partly delivered
- May 2.2% price hike fully flowing in Q2, restoring Q1 gross margin → EBITDA 20.8% vs 21.7% YoY (= PARTIAL)
- Odisha/K.R. Pet scale-up → 'ramping', no capacity milestone disclosed (= PARTIAL)
Missed
- Above-average Q2 volume to recover Q1 shortfall, double-digit FY27 volume → volume +5.5% YoY (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Page Industries Q2 FY27 Results: Net Profit ₹202.5 Cr, Up 4.0% YoY
Page Industries Ltd reported revenue from operations of ₹1,440 Cr (+11.5% YoY) and net profit of ₹202.5 Cr (+4.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹202.5 Cr · +4.0% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
EBITDA margin guidance maintained at 19-21%. Targeting double-digit volume growth; marketing spend to increase to 5%.
Growth they described
Q4 revenue ₹12,526M (+14.1% YoY); volume +10.8%. FY26 revenue ₹52,468M (+6.3%) and PAT ₹7,638M (+4.8%).
Call details
| Company | Page Industries Ltd |
|---|---|
| NSE symbol | PAGEIND |
| ISIN | INE761H01022 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 12 November 2026 |
| Time | 4:00 PM IST |
| Length | 53 min |
| Audio | Our stream on YouTube ↗ |
Page Industries Ltd: key numbers
- Share price
- ₹31,850.00
- Market cap
- ₹35,525 Cr
- Revenue (annual)
- ₹5,247 Cr
- Net profit (annual)
- ₹763.8 Cr
- P/E (TTM)
- 47.0×Sector 48.2×
- Promoter holding
- 42.89%+0.00% QoQ
- FII holding
- 18.79%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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