Page Industries Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for PAGEIND, BSE:532827 Page Industries Ltd.

Page Industries Ltd.

27 May 2019

42110.00

3.50%

Page Industries

Hold: Page Industries Ltd.

Target

ICICI Securities Limited

Competition, lower offtake by retailers impact sales growth FY19 was a challenging year for Page, with revenue growth tapering to 11.8% YoY (lowest ever sales growth) to | 2852 crore. As per the management, overall slowdown in the consumer demand and de-stocking by retailers (20-40% across certain regions) were major factors that led to deceleration of revenue trajectory. Furthermore, increasing competitive intensity in the premium category might also weighed on growth. The management highlighted that currently it has ~19-20% market share in...

Page Industries Ltd. is trading below all available SMAs

Page Industries Ltd.

27 May 2019

42110.00

3.50%

Page Industries

Buy: Page Industries Ltd.

Target

Dolat Capital

Page Industries reported lackluster performance in Q4FY19. The revenue was significantly below our estimate (17% gr est) the worst performance in the decade. Page's revenue growth was flat and profitability fell 20%. Going ahead, we believe that the slowdown in the economy will pressurize the company's performance in the short term. However, new product launches and efforts to increase penetration will help the company to grow revenue in double digits in the long term. We have revised our estimates from ` 498 and ` 601 in FY20E and FY21E to ` 457 and ` 553, respectively....

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Page Industries Ltd.

24 May 2019

42110.00

3.50%

Big miss; lack of clarity on recovery leads to sharp cut in earnings

Neutral: Page Industries Ltd.

Target

Motilal Oswal

4QFY19 flat sales growth of INR6.1b (our est. INR7b), was led by meager overall volume growth of 1% YoY. EBITDA declined 18.5% to INR1.2b (our est. INR1.5b), while Adj. PAT was down 20.4% to INR750m (our est. INR1b). Gross margin expanded 100bp YoY to 63.6%. Yarn costs were stable. EBITDA margin was down sharply 440bp YoY to 19.7%. Employee costs as % of sales were up 430bp YoY while other expenses as % of sales were up 110bp. FY19 performance: Sales/EBITDA/Adj. PAT grew 12%/14%/13%. Overall volumes grew 5.6% for the year. Gross margins were up 60bp YoY to 58% while...

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Page Industries Ltd.

19 Feb 2019

42110.00

3.50%

EARNINGS UPDATE-PAGE INDUSTRIES 3QFY19

Buy: Page Industries Ltd.

Recommendation Target

Chola Wealth Direct

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Page Industries Ltd.

15 Feb 2019

42110.00

3.50%

Page Industries

Hold: Page Industries Ltd.

Target

ICICI Securities Limited

After a subdued performance in Q2FY19, green shoots were visible with Page registering revenue growth of 19% YoY to | 738.3 crore in Q3FY19. However, adjusting for the Ind AS-115 accounting change, revenue growth came in at 14% YoY. The growth was led by volume growth of 12% to 44.5 million pieces (highest growth in last six quarters) while realisations improved 5% YoY to | 163/piece Gross margin rose 153 bps YoY to 57.1% while EBITDA margins grew 163 bps YoY to 22.4% (I-direct estimate: 21.5%). Absolute EBITDA...

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Page Industries Ltd.

14 Feb 2019

42110.00

3.50%

Outperformance on most fronts

Neutral: Page Industries Ltd.

Target

Motilal Oswal

14 February 2019 volume growth of ~12% YoY. In our view and like we also mentioned in our 3QFY19 preview report the company is likely to have benefited from the INR1.53b), while adj. PAT increased 22.2% YoY to INR1b (in-line). EBITDA margin expanded 160bp YoY to 22.4%, led by lower employee costs (-30bp YoY to 15.8% of sales), partly offset by higher other expenses (+20bp YoY to 18.9%). PAT grew 15.5%, 26.1% and 26%, respectively. Overall volumes grew ~7% on a YTD basis.

Page Industries Ltd. has an average target of 46727.17 from 6 brokers.

Page Industries Ltd.

30 Nov 2018, 12:00AM

42110.00

3.50%

Structural growth opportunity remains high

Neutral: Page Industries Ltd.

Target

Motilal Oswal

But, channel issues could lead to moderate near-term volumes We met Mr. Sunder Genomal (MD), Mr. Vedji Ticku (CEO) and Mr. Chandrasekhar (CFO) of Page Industries (PAG). Key takeaways: Structural opportunity remains extremely strong Industry data suggests that 130m adults in India can afford Jockey products (SEC A+, SEC A and part of B). Considering the company's current volumes and assuming five pieces per person annually, then of 130m people currently only 20% men and 6% women are existing Jockey consumers. The target market of...

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Page Industries Ltd.

15 Nov 2018

42110.00

3.50%

Ea rnings slow down after growing strongly for nine quarters???

Neutral: Page Industries Ltd.

Target

Motilal Oswal

Mens innerwear, womens innerwear and sportswear segments grew by 6.3%, 11.2% and 17.5% YoY, respectively. Volumes in mens innerwear segment declined by 3.2% YoY, while those in womens innerwear and sportswear segments increased by 3.9% and 6.1% YoY, respectively. PAT grew 13.9%, 25.4% and 28.3% YoY, respectively. EBITDA margin expanded 200bp YoY to 20.

Page Industries Ltd. has an average target of 46727.17 from 6 brokers.

Page Industries Ltd.

15 Nov 2018

42110.00

3.50%

Page Industries

Hold: Page Industries Ltd.

Target

ICICI Securities Limited

Revenue trajectory decelerated for the quarter with Page reporting one of its lowest ever sales growth of 10% YoY to | 690.8 crore. Revenue growth was driven by only realisation growth of 10.1% YoY to...

Page Industries Ltd. has an average target of 46727.17 from 6 brokers.

Page Industries Ltd.

14 Nov 2018

42110.00

3.50%

Page Industries

Buy: Page Industries Ltd.

Target

Dolat Capital

Page Industries' reported a flat volume growth as the quarter witnessed unfavorable base due to shift in festive season. Consequently, the sales growth came below our estimate. Nevertheless, volume growth in Q3 is expected to recover completely driven by favorable working conditions for the company. Though operational performance during the quarter came below our estimate, we believe that recent price hikes and revamp in volume growth would help the margins to improve in the ensuing quarters. We continue to believe that the company has strong brand recognition...

Number of FII/FPI investors increased from 728 to 776 in Jun 2025 qtr.

Is Page Industries Ltd. worth buying?

366 Votes:

Buy 66.12%

Sell 21.31%

Hold 12.57%

RESEARCH REPORTS

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