Manufactures and sells branded innerwear and apparel in India across price tiers. The economy segment, serving Tier 2/3 and rural markets, made up 47% of Q4 FY26 revenue, while premium offerings include Force NXT (super premium) and Dollar Protect (rain guard). Distribution runs through general trade retailers via Project Lakshya activation, plus non-traditional channels (modern trade, e-commerce, quick commerce), with quick commerce revenue growing 437% year-on-year and now contributing 2.5% of revenue. The company also runs a D2C joint venture called G.O.A.T, which generated ₹49 crore in FY26 revenue (+45% YoY) at a 10% PAT margin. Production runs out of 4 manufacturing plants, with the business spread across 28 Indian states and 15 export countries. Cotton and yarn are the key input, accounting for 45.7% of revenue, and management took a 4-6% price hike in Q1 FY27 after a two-year gap to recover a 169 bps gross-margin compression. FY26 revenue was ₹1,881 crore, operating EBITDA ₹200 crore at a 10.6% margin, and PAT ₹107 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Economy segment innerwear (47%), Premium and super-premium innerwear (Force NXT, Dollar Protect), D2C brand G.O.A.T (joint venture), Quick commerce and non-traditional channels (3%). Branded innerwear and garments business with multi-tier pricing, distribution-heavy general trade model, and rising D2C and quick commerce exposure.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,350 | 1,394 | 1,572 | 1,710 | 1,881 |
| EBITDA (ex other income) | 220 | 98 | 159 | 184 | 202 |
| margin % | 16.3 | 7.0 | 10.1 | 10.8 | 10.7 |
| Owners' profit | 0 | 53 | 90 | 91 | 107 |
| EPS, as reported (₹) | 25.93 | 9.26 | 15.90 | 16.05 | 18.94 |
| ROE % · ROCE % | 21.9 · 30.7 | 7.4 · 11.7 | 11.7 · 17.0 | 10.7 · 16.7 | 11.2 · 16.5 |
| Debt / equity (x) | 0.31 | 0.23 | 0.39 | 0.38 | 0.29 |
| Cash from operations | 0 | 141 | (26) | 74 | 139 |
| Capex | (58) | (55) | (78) | (56) | (43) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 447 | 381 | 549 | 399 | 472 | 388 | 622 | 405 |
| Profit before tax | 34 | 27 | 41 | 28 | 46 | 25 | 43 | 35 |
| Net profit | 26 | 20 | 30 | 22 | 35 | 18 | 33 | 26 |
| EPS (₹) | 4.67 | 3.52 | 5.16 | 3.76 | 6.20 | 3.24 | 5.74 | 4.59 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 15,120 | 36.5 | 3.65 | 15.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 17 Aug 2026 · Dollar Industries Q1 FY27 earnings call transcript filed with exchanges | investor communications | medium | — | — |
| 11 Aug 2026 · Earnings call recording for Q1 FY27 now available on website | investor communications | low | — | — |
| 11 Aug 2026 · Dollar Industries publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 10 Aug 2026 · Q1 FY27 earnings call: PAT up 22% YoY, margins expand across the board | investor communications | medium | — | — |
| 10 Aug 2026 · Q1 FY27: PAT up 22.1% YoY to Rs 2,602 lacs; margins expand | compliance | low | — | — |
| 10 Aug 2026 · Dollar Industries Q1 FY27: PAT up 24.6% YoY on flat revenue, margins improve | results | high | — | — |
| 10 Aug 2026 · Dollar Industries Q1 FY27 results: PAT up about 25% YoY standalone, revenue flat | results | high | — | — |
| 8 Aug 2026 · Special Window for Physical Share Transfer: 4th Reminder Notice | compliance | minimal | — | — |
| 8 Aug 2026 · Dollar Industries to attend Emkay Confluence 2026 on 14 Aug | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Dollar Industries revises invite link for Q1 FY27 earnings call on 11 Aug | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| LUX INDUSTRIES LIMITED |
| 3,443 |
| 32.3 |
| 1.89 |
| 19.2 |
| 5.8 |
| 7.3 |
| 8.4 |
| 8.2 |
| KEWAL KIRAN CLOTHING LTD | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.9 | 17.7 | 16 of 39 | 61% |
| P/B | 1.6 | 1.6 | 18 of 35 | 50% |
| ROCE | 14.1 | 8.4 | 13 of 44 | 72% |
| ROE | 11.2 | 5.8 | 12 of 37 | 69% |
| Debt / Equity | 0.3 | 0.3 | 18 of 37 | 53% |
| EBITDA margin | 12.3 | 10.4 | 13 of 35 | 65% |
| Revenue growth | 1.4 | 7.9 | 23 of 37 | 39% |
| Profit growth | 20.4 | 6.8 | 15 of 37 | 61% |
| Market cap | 1562 | 158 | 11 of 44 | 77% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
