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27th May 2021

Dear Investor,

This has been an unprecedented year for all of us. However, I am pleased to say that during this time, we were able to handle the operational challenges and come out as a stronger and a more resilient organization.

Although the financial year 2020-21 started on a challenging note, we were quick to implement our business continuity plans, resulting in one of the best quarter performances for the company in its history. We witnessed a strong demand pick-up across all our product categories. We have added 200 Exclusive Brand Outlets during the year and continue to strengthen our distribution channels.

The commitment and ability of our employees to adapt to the “new normal” model of working both from home and on site, has been inspiring. Throughout the pandemic, the health, safety, and wellbeing of our employees has remained our top priority. We were quick to implement comprehensive safety measures, which we have sustained throughout the year.

With a five-year horizon and an aspiration of a $1 billion top line, we continue the journey of digital and business transformation to strengthen efficiencies, automation and speed to market. Given our strong business model, wide product portfolio, efficient financial management and a very loyal customer base, we continue to remain confident of our medium to long term prospects.

Our focus continues to be on strengthening our management team with the best talent and invest in digital transformation, technology and innovation in product design and development, marketing and brand building. There is also renewed focus in becoming more efficient and optimal in all aspects of the business, while at the same time taking care to eliminate any wasteful spend or activity.

Our investments across Product Design & Development and Ecommerce on a regular and planned basis has aided growth during the pandemic. The ecommerce business is showing significant growth both through as well as with key e-commerce partners and marketplace.

There is a huge potential market for our product categories and we believe that we are best positioned to take advantage of this opportunity. With our strong business presence and robust balance sheet, we continue to modernize our factories to increase productivity while optimizing costs. With 740+ Stores in High Streets and 190+ in Shopping Malls with high footfalls across the country, we continue to provide a truly international retail experience to all our consumers. Jockey products are today retailed through 930+ Exclusive Brand Outlets, over 2,300 Large Format Stores and 78,000 plus Multi Brand Retail Stores in 2890 cities and towns across India.

We continue to remain positive on  the Jockey Juniors range, considering that India has the distinct advantage of a growing kids population coupled with increased discretionary spending. We also know that millions of our loyal Jockey parents will want their kids to enjoy the same satisfaction they experience with the Jockey brand.

The SPEEDO brand continues to face headwinds, since the government has not opened swimming pools across the country due to the pandemic. We are available in 1,340 plus stores including 30+ EBO’s and 15+ Large Format Stores, spread across 290+ cities.

The extraordinary challenges of the year demanded an extraordinary response. In this regard, I am immensely proud of the commitment and resilience demonstrated by our Company. I take this opportunity to thank each and every one of you for your support, belief and confidence in Page Industries. My heartfelt thanks go to the Central and State Governments, our shareholders, customers, financial institutions, suppliers, franchisees and to all my colleagues on the Board for their immense support and encouragement.

I wish to sincerely acknowledge my entire team at Page Industries for their commitment, dedication and passion towards creating and sustaining a world class enterprise like ours.

Thank you.

Sunder (Ashok) Genomal
Managing Director
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Jockey India Jockey India
Umiya Business Bay-Tower-1, 7th Floor, Cessna Business Park, Kadubeesanahalli, Varthur Hobli, Bengaluru 560103
Phone: 1860-4191913 / 1860-425-3333