Page Industries Ltd. — Earnings Release 2019

May 24, 2019

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JOCKEY

May 24,· 2019

The Secretary Corporate Relationship Dept. The Bombay Stock Exchange PhirozeJeejeebhoy Towers Dalal Street, Mumbai - 400 001

The Secretary National Stock Exchange of India Limited Exchange Plaza BandraKurla Complex Mumbai - 400051

Dear Sir,

Sub: Press Release - Reg

We are enclosing a copy of Press Release which is being released today.

Kindly take note of the above information on record.

Thanking you, Yours sincerely,

For Page Industries Limited \ � � Murugesh C Company Secretary

PAGE INDUSTRIES LIMITED ID

Head Office : Cessna Business Park, 3rd Floor, Umiya Business Bay, Tower-1, Varlhur Hobli, Outer Ring Road, Bengaluru - 560 103. Ph: 91-80-4946 4646. Corporate & Registered Office: Cessna Business Park, 7Ih Floor, Umiya Business Bay, Tower-1, Varthur Hobli, Outer Ring Road, Bengaluru - 560 103. Ph: 91-80-4945 4545 I www.jockeyindia.com I info@jockeyindia.com I CIN # L 1810H<A1994PLC016554

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JOCKEY

PRESS RELEASE

Page Industries net profit for 2018-19 up by 13.5 0/o at Rs. 393.9 crores

Bangalore, 24th May, 2019: Page Industries Ltd. a leading manufacturer of innerwear, athleisure, sleepwear and swimwear for men, women and kids in India, announced today its financial results for the quarter ending 31th March 2019. Page Industries is the exclusive licensee of Jockey International Inc. (USA) and Speedo International Limited (UK).

For the full year ended March 3l 5t, 2019, the company recorded sales of Rs. 2,852.20 crores, an increase of 11.8 0/o over the previous year and a net profit of Rs. 393.94 crores (14% of sales), a growth of 13.S %.

The company recorded sales of Rs. 607 .86 crores for the quarter ended March 31st, 2019, with nil growth over the corresponding quarter of previous year. The net profit for the period was Rs. 74.98 crores (12.6% of sales), a decline of 20.42 %.

Mr. Sunder Ashok Genomal - Managing Director, Page Industries Ltd says, "2018-19 was an eventful year for the company witnessing steady sales growth in both volume and value despite challenging macro and micro market conditions. The reported negative growth in net profit of Q4 2018-19 is a result of the one-time gain from sales schemes reversals and GST trans credits in Q4 2017-18, and the higher sales schemes incurred in Q4 2018-19."

"This year, we focused on consolidation and keeping a five-year horizon in view, kick­ started a journey of business transformation within the organization. The project specifically focuses in areas of penetration and business expansion as well as operational and supply chain efficiencies and strategic planning and sourcing to enable us to be future ready."

"I am delighted to share that we launched the 600th Jockey Exclusive Brand Store in 2018-19. With 476 Stores in High Streets and 144 in Shopping Malls with high footfalls across the country, we continue to provide a truly international retail experience to all our consumers. Jockey products are today retailed through 620 exclusiv·e brand outlets, over 800 departmental stores and 50,000 plus multi brand retail stores in 2000 cities and towns across India. The online retail business also showed significant growth both through jockeyindia.com as well as with key e­ commerce partners and marketplace crossing the milestone of 100 Cr revenue from

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PAGE INDUSTRIES LIMITED ID

Head Office: Cessna Business Park, 3rd Floor, Umiya Business Bay, Tower-1, Varlhur Hobli, Outer Ring Road, Bengaluru - 560 103. Ph: 91-80-4946 4646. Corporate & Registered Office : Cessna Business Park, 7Ih Floor, Umiya Business Bay, Tower-1, Varthur Hobli, Outer Ring Road, Bengaluru - 560 103. Ph: 91-80-4945 4545 I www.jockeyindia.com I info@jockeyindia.com I CIN II L 18101 l<A 1994PLC016554

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JOCKEY

"This year also marked the official entry of Jockey into the Kids Apparel space. With launch of the Jockey Juniors sub-brand, the company shall treat this consumer segment independent of the parent business and offer products for Boys and Girls in both innerwear and leisure wear. The coming year shall see investment in sales and marketing to build the requisite infrastructure to build an independent sales network for the juniors' business."

"2018-19 has taken the SPEEDO brand to 1425 plus stores including large format stores across 152 cities and 42 Speedo exclusive brand outlets located in Delhi, Gurgaon, Mumbai, Bangalore, Chennai and Pune. The performance of the brand has been extremely heart- warming."

As on March 31, 2019, Page Industries Ltd. has over 20,000 employees, spread over 14 state-of-the-art manufacturing complexes in Bengaluru, Hassan, Mysore, Gowribidanur, Tiptur and Tirupur.

About Page Industries Ltd

Page Industries Ltd. is engaged in the manufacturing, distribution and marketing of Innerwear, Athleisure, Sleepwear and Swimwear for men, women and kids. The company is the exclusive licensee of Jockey International Inc. (USA) in India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar, and for Speedo International Limited (UK) in India and Sri Lanka.

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PAGE INDUSTRIES LIMITED ID

Head Office : Cessna Business Park, 3rd Floor, Umiya Business Bay, Tower-·!, Varthur Hobli, Outer Ring Road, Bengaluru - 560 103. Ph: 91-80-4946 4646. Corporate & Registered Office : Cessna Business Park, 7th Floor, Umiya Business Bay, Tower-1, Varthur Hobli, Outer Ring Road, Bengaluru - 560 103. · Ph: 91-80-4945 4545 I www.jockeyindia.co111 I info@jockeyindia.com I CIN # L 181011<A1994PLC016554