Financials
Q2-2016: Bajaj Corp YoY marketing spends up 5.4%
BENGALURU: Bajaj Corp Limited spent a higher YoY amount towards marketing in the quarter ended 30 September, 2015 (Q2-2016, current quarter), but QoQ these spends were lower.
Bajaj Corp’s marketing or Advertisement and Sales Promotion (ASP) expense comprises of two parts – Advertisement Spends (Ad Sp) and Sales Promotion Spends (SP Sp). The ASP figures have been obtained from the Company’s investors’ presentations over various quarters and the Ad Exp from its financial results. SP results have been obtained by deducting the Ad Expenses from the ASP. The figures in the investors’ presentations have been rounded off by the company and hence are assumed as approximate. Consequently the SP figures are assumed to be approximate.
Note: (1) Bajaj Corp Limited is a subsidiary of Bajaj Resources Limited (BRL) and is an exclusive licensee of the brands owned by BRL for a period of 99 years starting 2008.
(2) 100,00,000 = 100 lakh = 10 million = 1 crore
Brands
Bajaj Corp’s mother brand is Bajaj with sub brands/products such as Bajaj Almond Drops Hair Oil, Bajaj Kailash Parbhat Cooling Oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Shikakai, Bajaj Jasmine Hair Oil, Bajaj Kala Dant Manjan, and creams, soaps, face washes and face scrubs under the brand name Nomarks.
Marketing Expenses
Bajaj Corp spent Rs 35.26 crore (16.9 per cent of Operating Revenue or Total Income from Operations or TIO) in Q2-2016, which was 5.4 per cent more than the Rs 33.44 crore (17.8 per cent of TIO) in the corresponding quarter of the previous year but 13.2 per cent less as compared to the Rs 40.60 crore (18.5 per cent of TIO) in Q1-2016. Please refer to Fig A below.
Bajaj Corp’s SP Sp in Q2-2016 at Rs 24.36 crore (11.7 per cent of TIO) was 15.7 per cent more than the Rs 21.06 crore (11.2 per cent of TIO) in Q2-2015 and was 21.3 per cent more than the Rs 25.32 crore (11.6 per cent of TIO) in Q1-2016.
Advertisement Expense down
The company’s Ad Sp in the current quarter at Rs 10.90 crore (5.2 per cent of TIO) was 12 per cent lower than the Rs 12.38 crore (6.6 per cent of TIO) in Q2-2015 and 13.2 per cent lower than the Rs 15.28 crore (7 per cent of TIO) in Q1-2016.
During the fifteen quarter period starting Q4-2012 until Q2-2016 (current quarter), Bajaj Corp’s ASP has been the highest in terms of absolute rupees in Q4-2015 at Rs 40.92 crore (17.6 per cent of TIO). The company’s highest ASP during the period under consideration in terms of percentage of TIO was in Q3-2015 at 19.6 per cent of TIO (Rs 40.24 crore). The lowest ASP during the period under consideration in terms of absolute rupees as well as percentage of TIO was in Q1-2013 at Rs 17.36 crore and 12.6 per cent of TIO.
Bajaj Corp’s highest Ad Sp in absolute rupees during the period under consideration was in Q3-2015 at Rs 17.56 crore (8.5 per cent of TIO), while the highest Ad Sp in terms of percentage of TIO was in Q1-2014 at 8.8 per cent (Rs 14.98 crore).
Bajaj Corp’s highest SP Sp in terms of absolute rupees during the period under consideration was Rs 25.77 crore (10.9 per cent of TIO) in Q4-2015, while the highest SP Sp in terms of percentage of TIO was in Q3-2014 at 12.4 per cent (Rs 19.70 crore).
During the fifteen quarter period under consideration, both ASP and SPSp show a linear increasing trend in terms of percentage of TIO, while AdSp in terms of percentage of TIO shows a slight declining trend.
Revenue, profits
Bajaj Corp TIO in Q2-2016 at Rs 208.18 crore was 10.7 per cent more than the Rs 188.06 crore in the corresponding year ago quarter, but was five per cent lower than the Rs 219.1 crore in Q1-2016.
Profit after Tax (PAT) in Q2-2016 at Rs 46.78 crore (22.5 per cent of TIO) was 25 per cent more than the Rs 37.44 crore (19.9 per cent of TIO) in Q2-2015 but 1.5 per cent lower than the Rs 47.51 crore (21.7 per cent of TIO) in Q1-2015. PAT in Q4-2015 was the highest in absolute rupees during the period under consideration. PAT in terms of percentage of TIO was highest at 28.5 per cent (Rs 42.20 crore) in Q3-2013.
During the fifteen quarter period under consideration, both TIO and PAT in absolute rupees show a linear increasing trend, while PAT in terms of percentage of TIO shows a linearly declining trend.
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.
