Financials
Q2-2016: Tips YoY Audio Products sales up 12.5%
BENGALURU: Tips Industries Limited (Tips) reported a 12.5 per cent growth in its Audio Products Sales to Rs 9.01 core (75 per cent of Total Income from Operations or TIO) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) as compared to the Rs 8 crore (10.3 per cent of TIO) in Q2-2015. QoQ, Audio Product sales grew 1.6 per cent from Rs 8.86 crore (100 per cent of TIO).
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Tips reported TIO of Rs 12.01 crore in the current quarter. In Q2-2014, higher revenue from films resulted in the company reporting 6.5 times higher revenue of Rs 78 crore. In the immediate trailing quarter, Tips reported revenue of Rs 8.86 crore.
The company reported profit after tax (PAT) of Rs 1.59 crore (13.2 per cent margin) in Q2-2016 as compared the profit of Rs 13.53 crore (17.3 per cent margin) in Q2-2015 and a loss of Rs 0.62 crore in Q1-2016.
Segment numbers
The company’s Audio Production Sales/Income segment reported 2.6 times the operating profit of Rs 7.91 crore in Q2-2016 as compared to the Rs 3.05 crore in Q2-2015 and 3.9 per cent more than the Rs 7.62 crore in Q1-2016.
Tips Film Production/Distribution (Production) segment reported revenue of Rs 3 crore (25 per cent of TIO) in the current quarter as compared to the Rs 70 crore (89.7 per cent of TIO) in Q2-2015. For Q1-2016, the segment had reported ‘nil’ revenue.
Tips Production segment reported operating loss of Rs 0.88 crore as compared to an operating profit of Rs 19.07 crore in Q2-2015 and an operating loss of Rs 3 crore in the immediate trailing quarter.
Let’s look at the other numbers reported by Tips
The company’s simple EBIDTA calculated without considering other income in the current quarter was 75.7 per cent lower at Rs 4.86 crore (40.5 per cent margin) as compared to the Rs 20.03 crore (25.7 per cent margin) in Q2-2015 and was 63.6 per cent more than the Rs 2.97 crore (33.5 per cent margin) in Q1-2016.
The company’s Total Expenses in the current quarter reduced by 87 per cent YoY to Rs 7.57 crore (63 per cent of TIO) as compared to Rs 58.40 crore (74.9 per cent of TIO) and increased by 19.6 per cent from Rs 6.33 crore (71.4 per cent of TIO) in Q1-2016.
Tips cost of production/distribution of films in Q2-2016 reduced 93.4 per cent YoY to Rs 3.31 crore (27.6 per cent of TIO) from Rs 50.44 crore (64.7 per cent of TIO) and increased 28.3 per cent to Rs 2.58 crore (29.1 per cent of TIO) in the immediate trailing quarter.
The company’s finance costs in Q2-2016 at Rs 3.31 crore (27.6 per cent of TIO) was 15.4 per cent YoY as compared to Rs 2.87 crore (3.7 per cent of TIO), but was 2.2 per cent lower than the Rs 3.39 crore (38.2 per cent of TIO) in Q1-2016.
Employee Benefit Expense in the current quarter at Rs 1.41 crore (11.7 per cent of TIO) was 9.1 per cent lower than the Rs 1.55 crore (2 per cent of TIO) in Q2-2015 and was almost flat (0.9 per cent lower) as compared to the Rs 1.42 crore (16 per cent of TIO) in the immediate trailing quarter.
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.
