Page Industries Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 34956.24 Crore) operating in Apparels sector.
Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 886.32 Crore, down -4.82 % from last quarter Total Income of Rs 931.21 Crore and up 60.81 % from last year same quarter Total Income of Rs 551.17 Crore. Company reported net profit after tax of Rs 115.56 Crore in latest quarter.
Investment Rationale
The brokerage cuts earnings estimates for FY22 by 8%; modelling revenue / EBITDA / PAT CAGR of 21% / 32% / 39% over FY21-23E. It maintains ADD with a DCF-based revised target price of Rs34,000. At target price, the stock will trade at 57x P/E multiple Mar’23E. Key downside risks are underperformance of men’s innerwear and sharper-than-expected RM inflation.
Promoter/FII Holdings
Promoters held 48.3 per cent stake in the company , FIIs held 26.4 per cent, DIIs 15 per cent and public and others 10.3 per cent.
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