Financials
FY-2014: Imax reports 0.9% higher revenue; net income down 19.1%
BENGALURU: Entertainment, technology and distribution company Imax Corp (Imax) reported flat (up 0.9 per cent) revenue for the year ended 31 December, 2014 (FY-2014, current year) at $290.54 million as compared to the $287.94 million in FY-2013. The company’s adjusted net income after non-controlling interest in the current year fell 19.1 per cent to $24.23 million from $30.80 million last year.
For the quarter ended 31 December, 2014 (Q4-2014, current quarter), Imax reported a drop of 2.5 per cent in revenue to $102.46 million as compared to the $105.05 million reported for the corresponding year ago quarter. Adjusted net income fell 5.8 per cent to $52.49 million in the current quarter as compared to the $55.70 million in Q4-2013.
“We achieved a great deal over the course of 2014, including the completion of our world-class laser projection system, the sale of a 20 per cent stake in our China business, the signing of long term film deals with most major studios and continued network growth,” said Imax CEO Richard L. Gelfond. “We believe these accomplishments position us well, not only to take advantage of the 2015 film slate, which is already off to a great start, but also to help drive long-term growth.”
The company’s equipment and products sales stream reported almost flat revenue (up 0.1 per cent at $78.1 million in the current as compared to the $78.66 million in FY-2013. The stream reported an 8.1 per cent growth in revenue in Q4-2014 at $41.08 million as compared to the $38.01million in the previous year’s corresponding quarter.
Imax’s service stream reported 2.3 per cent growth in revenue to $ 42.61 million in FY-2014 as compared to the $139.46 million in FY-2013. This stream reported a 3.9 per cent drop in revenue to $40.79 million in Q4-2014 as compared to the $42,46 million in Q4-2013.
The company’s rental stream reported a one per cent drop in revenue to $60.71 million in the current year as compared to the $61.29 million in the previous year. For Q4-2014, revenue for this stream fell a massive 18.1 per cent to $18.43 million from $22.51 million in the year ago quarter.
Imax finance income rose 4.7 per cent in to $8.52 million in FY-2014 as compared to the $8.14 million in FY-2013. For the current quarter finance income was 4.3 per cent up at $2.15 million as compared to the $2.06 million in Q4-2013.
Alternatively, breakup of revenue in segments as opposed to streams above:
Fourth-Quarter Segment Results
Revenue from sales and sales-type leases was $33.2 million in Q4-2014, compared to $32.6 million in the Q4-2013, primarily reflecting the installation of 26 full, new theatre systems under sales and sales-type lease arrangements in the most recent fourth quarter, compared to 24 installations in Q4-2013. In addition there were two digital system upgrades in existing locations in Q4-2014, compared to four upgrades in Q4- 2013.
Revenue from joint revenue-sharing arrangements was $23 million in the quarter, compared to $24.5 million in the prior-year period. During the current quarter, the company installed 29 new theatres under joint revenue-sharing arrangements, compared to 30 in the year ago period. The company had 451 theatres operating under joint revenue-sharing arrangements as of 31 December, 2014, as compared to 382 theatres one year prior.
Production and Imax DMR (Digital Re-Mastering) revenues were $25.6 million in Q4- 2014, compared to $28.6 million in Q4- 2013. Gross box office from DMR titles was $226.9 million in Q4- 2014, compared to $244.5 million in the prior-year period. The average global DMR box office per screen in Q4- 2014 was $292,200 compared to $366,300 in the prior-year period.
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
