Page Industries
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Page Industries is navigating a complex landscape characterized by temporary operational challenges and a commitment to long-term growth. Management has indicated that recent revenue moderation was primarily due to logistics delays rather than a decline in consumer demand, reinforcing confidence in their ability to achieve double-digit volume growth. The company's strategic focus on premiumization and digital transformation, including the rollout of a new distribution management system, is expected to enhance operational efficiency and support margin stability. Despite facing headwinds from rising input costs and competitive pressures, Page Industries is well-positioned to leverage its strong brand and distribution network. Vista's financial outlook anticipates stable revenue growth and margins, supported by the company's proactive measures to manage costs and enhance product offerings. The consumer discretionary sector's improving pricing power and the anticipated boost from the 8th Pay Commission further bolster the outlook. Over the next 12-24 months, key opportunities include expanding the athleisure portfolio and enhancing e-commerce capabilities, while watchpoints include raw material price volatility and the competitive landscape
Why We Like This Stock
- Management's focus on premiumization and digital transformation is expected to enhance operational efficiency and support margin stability
- The anticipated boost in consumer spending from the 8th Pay Commission will likely drive demand for Page Industries' products
- The company's strong brand and extensive distribution network position it well to capture market share in the growing athleisure segment
Things To Watch Out For
- Rising input costs and inflationary pressures may challenge margin stability and profitability
- Intense competitive pressure from agile direct-to-consumer brands could impact market share and pricing power
- Operational challenges related to logistics and manpower may hinder short-term revenue realization
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 4,569 | 4,935 | 5,247 | 5,307 | 5,750 |
| Profit Before Tax (Cr.) | 756 | 979 | 1,060 | 1,031 | 1,129 |
| PBT Margin | 16.5% | 19.8% | 20.2% | 19.4% | 19.6% |
| Net Profit (Cr.) | 566 | 728 | 785 | 758 | 830 |
| Earnings Per Share | 507.2 | 652.9 | 704.0 | 680.0 | 744.3 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| ICICI Securities | ▼ Reduce | 31,500 | 17-Aug-2026 |
| Citigroup | ▲ Buy | 46,500 | 14-Aug-2026 |
| Elara Capital | ▲ Buy | 46,000 | 14-Aug-2026 |
| HSBC | ▲ Buy | 47,560 | 14-Aug-2026 |
| Kotak Securities | ▼ Sell | 35,000 | 14-Aug-2026 |
| Macguire | ▼ Underperform | 32,500 | 14-Aug-2026 |
| Morgan Stanley | ▲ Overweight | 42,636 | 14-Aug-2026 |
| Motilal Oswal | ▲ Buy | 45,000 | 14-Aug-2026 |
| Nuvama | ▲ Buy | 46,201 | 14-Aug-2026 |
| Moneycontrol | ▲ Overweight | nan | 01-Jul-2026 |
Company Overview
Show Company Profile
Page Industries Limited manufactures, markets, and distributes textile garments and clothing accessories for men, women, and kids in India and internationally. It offers vests, briefs, boxer briefs, trunks, inner boxers, tank tops, t-shirts, polos, oversized T-shirts, knit shirts, henleys, sweatshirts, jackets, hoodies, windcheater, boxer shorts, shorts, bermudas, joggers, track pants, pyjamas, pants, bras, panties, crop tops, camisoles, kurta slips, shrugs, sleep dresses, skirts, shorts, capris, culottes, leggings, shapewears, sets, caps, handkerchief, and masks; face, hand, bath, and gym towels; calf, ankle, knee, low show, and no show socks; and thermals under the Jockey brand. The company also has license with swim wear Speedo brand. Page Industries Limited was incorporated in 1994 and is headquartered in Bengaluru, India.