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Page Industries Q4 earnings: Stock zooms 8% as brokerages give a thumbs up

Page Industries Q4 earnings: Stock zooms 8% as brokerages give a thumbs up

Shares of Page Industries rose 8.43 percent to Rs 45,175 against the previous close of Rs 41,665 on BSE.

 Page Industries stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Page Industries stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Garments manufacturer Page Industries stock gained 8 per cent in early trade today after the firm logged a 65 per cent rise in Q4 profit. Shares of Page Industries rose 8.43 per cent to Rs 45,175 against the previous close of Rs 41,665 on BSE. The stock opened with a gain of 3.28 per cent at Rs 43,031 today.

The large cap stock has fallen after two days of consecutive gain. Page Industries stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The share has gained 38.83 per cent in a year and risen 9.33 per cent since the beginning of this year.

Total of 791 shares of the firm changed hands amounting to a turnover of Rs 3.5 crore on BSE.  Market cap of the firm fell to Rs 49,278 crore on BSE.

The large-cap share hit a 52-week high of Rs 46,705 on April 26, 2022 and fell to a 52-week low of Rs 29130 on June 30, 2021.

Page Industries Ltd reported an increase of 64.86 per cent in net profit at Rs 190.52 crore in Q4 against a net profit of Rs 115.56 crore during the January-March period a year ago.

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Revenue from operations rose 26.15 per cent to Rs 1,111.11 crore in the last quarter as against Rs 880.76 crore in the year-ago period.

Total expenses climbed 18.58 per cent to Rs 870.04 crore in Q4/FY 2021-22 as against Rs 733.69 crore in the corresponding period of 2020-21.

ICICI Securities has maintained an 'add' call for the stock.

"Listening to Page's management was [kind of] refreshing -- no major concern of [consumer] slowdown, managing inflation well [despite being high], addressing a large opportunity,  etc.  That's  the  good part of select consumer discretionary names  [lower impact of top-down issues].  Importantly,  its  execution on new avenues has been impressive. We increase our earnings estimate by  3 per cent for FY24E; modelling revenue/EBITDA/PAT CAGR of 18/24/26 per cent over FY22-24E. Maintain ADD with a DCF-based unchanged target price of Rs 46,000.  Key downside risks are underperformance of men's innerwear and sharper-than-expected RM inflation," said the brokerage.

YES Securities has given an add call with a target price of Rs 46,376, a 11 per cent upside to the current market price of Rs 41,665.

It said the firm has aggressive network expansion plans and its investments are delivering solid results.

"The firm delivered another strong quarter with continued momentum on volume growth, benefit of sharp price hikes taken in 1Q and 3Q and positive operating leverage driving sharp margin expansion. Revenue up 26.2 per cent (volumes up 8.7 per cent) YoY to Rs 1110 crore on 63 per cent growth in 4QFY21 implying 22 per cent 3-yr revenue CAGR and market share gains. We maintain ADD rating with revised target price of Rs 46,376 as expensive valuations limit the upside potential from current levels, " the brokerage said.

Page Industries Limited is an India-based company that is engaged in the business of manufacturing and trading garments. The company offers knitted garments. The company offers a range of products for men, women and children. The company is engaged in the manufacturing, distribution, and marketing of Jockey products. It holds the license of SPEEDO, an international brand for swimwear.