Page Industries has issued a clarification regarding media reports on FEMA non-compliance in its Q2-FY27 Results. The company stated that this matter was already disclosed in Note No. 40 of its audited financial statements for FY 2025-26, filed on July 16, 2026. This note pertained to the company’s retail trading of Jockey and Speedo branded products.
Clarification on FEMA Non-Compliance
Page Industries Limited has provided a clarification in response to media reports concerning potential non-compliance with the Foreign Exchange Management Act (FEMA). This clarification relates to the company’s unaudited Ind AS Financial Results for the quarter and six months ended September 30, 2026, which were submitted to the stock exchanges on November 12, 2026.
Prior Disclosure Confirmed
The company highlighted that the issue, specifically concerning non-compliance under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, related to its retail trading of Jockey and Speedo branded products, was previously disclosed. This disclosure was made in Note No. 40 (Commitments and Contingencies) (b) (iv) of the notes to the audited financial statements for the Financial Year 2025-26. These audited statements were filed with the stock exchanges on July 16, 2026.
Source: BSE
