ewsba.se
Page Industries, the listed innerwear and athleisure manufacturer, has announced its second interim dividend for FY27, making it the only company so far to declare a three-digit interim dividend during the September quarter. The company has declared a payout of ₹150 per equity share, the largest among the interim dividends announced during Q2 FY27, with the record date scheduled for next week.
The dividend announcement comes alongside the company's September-quarter results, which showed a 4% increase in net profit. However, the stock has remained under pressure, declining 21% over the past year. Investors will therefore be tracking both the upcoming dividend record date and the company's financial performance.
The company's board of directors considered and approved the second interim dividend for FY27.
“The Board of Directors of the Company at their meeting held today (i.e., 12 November 2026) has declared the 2nd Interim Dividend for the financial year 2026-27 for an amount of ₹150/- per equity share,” read the BSE filing released earlier in the day.
The ₹150 per-share payout is the largest interim dividend announced so far during the September quarter.
The board has fixed Wednesday, November 18, 2026, as the record date to determine shareholders' eligibility for the dividend. This effectively makes Tuesday, November 17, the last date for investors to qualify for the corporate action.
“The record date fixed for the payment of interim dividend is 18 November 2026. The date fixed for payment of dividend is on or before 11 December 2026,” read the BSE filing.
The company has stated that the dividend payment will be completed on or before December 11, 2026.
Since 2024, Page Industries Ltd. has distributed ₹1,800 per share through ten interim dividends.
In FY2024-25, the company announced four payouts aggregating ₹900 per share. These included ₹300 in August 2024, followed by ₹250 in November 2024, ₹150 in February 2025 and ₹200 in May 2025.
For FY2025-26, Page Industries distributed another four interim dividends totalling ₹550 per share. The company paid ₹150 in August 2025, ₹125 in November 2025, ₹125 in February 2026 and ₹150 in May 2026.
Continuing into FY2026-27, the company declared a first interim dividend of ₹200 in August 2026 and a second interim dividend of ₹150 in November 2026, with the record date set for November 18, 2026. This takes the dividend declared for the current financial year to ₹350 per share so far.
Alongside Page Industries' ₹150 payout, several major Indian companies announced notable interim dividends during the Q2 FY27 earnings season.
Sanofi India led the group with an interim dividend of ₹75 per share, followed by IT major Infosys, which announced a payout of ₹26 per share.
In the industrial and specialty chemicals sectors, Ingersoll-Rand India declared ₹20 per share, while Galaxy Surfactants approved a dividend of ₹18 per share. Great Eastern Shipping Company rounded out the notable double-digit dividend announcements with an interim payout of ₹14.40 per share.
Page Industries shares have remained under pressure in recent periods. The stock declined 13% in one week, 16% in one month and 21% over the past year.
The shares ended 2% lower at ₹31,399.65 apiece on the BSE on Friday. The stock had touched its 52-week high of ₹43,823.90 in July 2026 and its 52-week low of ₹29,800 in March 2026.
Page Industries reported an 11.5% year-on-year increase in net revenue to ₹1,439 crore during the September quarter. The Jockey licensee also recorded a 5.5% increase in sales volume.
However, profitability growth remained relatively modest amid elevated raw material costs.
The Bengaluru-based apparel manufacturer reported a 7.4% annual increase in EBITDA to ₹300 crore, with an EBITDA margin of 20.8%. Net profit rose 4% to ₹202.5 crore, while net total expenses increased 15% to ₹1,131 crore.
For the first half of FY27, Page Industries reported a 9.7% year-on-year increase in revenue to ₹2,860 crore, while sales volume grew 5.6% to 121.7 million pieces.
Commenting on the results, V.S. Ganesh, Managing Director of Page Industries, said the company delivered double-digit revenue growth in Q2 FY27, supported by healthy volume growth, premiumisation and a strong consumer response to new product launches. He acknowledged that raw material costs remained elevated but said profitability had stayed within the company's planned range.
He added that positive demand trends, strong brand momentum, an encouraging pipeline of new product ranges and ongoing operational efficiency initiatives would support the company's growth outlook.
Brokerage views on Page Industries remain important for investors assessing the stock's prospects after its recent decline and the latest quarterly performance. HSBC has retained a positive view on the company, although it has reduced its target price following weaker-than-expected volume growth.
HSBC maintained its Buy rating on Page Industries but cut its target price to ₹43,870 per share, implying an upside of approximately 40% from the previous close.
The brokerage highlighted that Page Industries' volume growth slowed to 5.5% in Q2 FY27, significantly below its estimate of 10%. However, it attributed part of the weakness to the shift in the festive calendar. Despite the earnings miss, Page Industries has retained its guidance for double-digit volume growth in FY27. HSBC said achieving this target would require volume growth of approximately 14% in the second half of the financial year.
The brokerage marginally reduced its earnings per share (EPS) estimates for FY27-FY29 by 1-3% and trimmed the valuation multiple assigned to the stock to 48 times earnings.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
Catch all the Business News , Market News , Breaking News Events, JIO IPO Listing Today LIVE and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.