Financials
BCCI reports lower gross media rights income in 2013-14
MUMBAI: The annual report of the Board of Control for Cricket in India (BCCI) for the financial year 2013 – 14 shows a decline in gross media rights income as it dipped from Rs 774.24 crore to Rs 419.38 crore. The honourary treasurer of the board Anirudh Chaudhry blamed lack of international action in India for the dip in media rights income. During the year of consideration, the annual gross receipts from international tours was Rs 193.52 crore as against the Rs 216.02 crore in the previous year.
BCCI’s million dollar baby Indian Premier League (IPL) did not disappoint the treasurer. Gross receipts from IPL 2013 were Rs 1194 crore as against Rs 892 crore of previous year.
The treasurer said, “This is because the receipts from IPL media rights income have gone up from Rs 556 crore to Rs 844 crore and the franchisee consideration has gone up marginally from Rs 460 crore to Rs 502 crore.”
The rights income from Champions League has also gone up, as a substantial hike from Rs 278.88 crore to Rs 327.50 crore was registered.
Receipt from ICC share of distribution remained at Rs 32.26 crore. There is a reasonable increase in interest income from Rs 85 crore last year to Rs 120 crore for the year of consideration. “This is mainly because of better treasury operations in getting better-negotiated interest rates for the short term deposits and efficiency of operations,” said Chaudhry.
In the year under consideration, the expenses on cricketing operations went down marginally from Rs 551.17 crore to Rs 516.83 crore. The provision for gross revenue share payable to the players has gone down from Rs 48.57 crore to Rs 11.02 crore. “This is because of the lesser media rights income. From 2013-14, the Board decided that all the common expenses, which are not allocable to any specific tournament would be apportioned on the basis of revenue generated by IPL, CLT20 and BCCI’s international tours. This will reflect more accurately the income generated from these activities of Board,” said Chaudhry.
In the year under consideration, the surplus of income over expenditure was Rs 526 crore as against Rs 319 crore in 2012-13, before any appropriation. In the current financial year 2014-15 the budgeted surplus is estimated at Rs 391 crore.
During the year four finance committee meetings were held. The following decisions were taken during the year:
· The Board awarded the Team Sponsorship contract for the period from 1 January 2014 till 31 March 2017 to Star India.
· Star India was awarded the title sponsorship for the limited period from October 2013 to December 2013 in which two series i.e., India versus Australia and India versus West Indies were played.
· The back office of the honorary treasurer was set up in Chennai from 1 April, 2014 and the coordinating office of honorary treasurer was established in New Delhi.
· The allowances and fees payable to support staff accompanying the senior team, A team, under 19 team, junior team and women’s team were revised.
· Under the scheme of One Time Benefit to former players, an amount aggregating to Rs 1.55 crore was paid during the year under consideration.
· Under the infrastructure subsidy scheme, the member units have claimed Rs 764.03 crore till 31 March, 2014, including subsidy for ground equipment.
· During the year, Board invoked the Bank Guarantee given by Sahara Adventure Sports (Pune Franchisee) to recover the balance franchisee consideration of Rs 133 crore.
· During the year, as per the order of Supreme Court of India, the three bankers of Nimbus, who had provided the Bank Guarantees of Rs 1600 crore together and who had not honored the invocation of the Bank Guarantees by the Board and had challenged the invocation, paid Rs 400 crore to the Board against an undertaking from the Board that in case the decision goes against BCCI the said amount will be returned along with the applicable fixed deposit interest.
· During the year the team won the ICC Champions Trophy and the Board awarded prize money of Rs 1 crore to every playing member of the team and Rs 30 lakh to every member of support staff.
· In the last Annual General Meeting, a new Finance Committee was appointed under the chairmanship of Dr. Ganga Raju. The Finance Committee and the Treasurer’s office benefited from the rich experience of Dr. Raju.
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.
