with a market capitalization of 53,056.47 Crore, Page Industries Limited is a Large-cap business operating in the Consumer Discretionary industry. Page Industries Limited, headquartered in Bangalore, India, is a renowned name for manufacturing, distributing and marketing the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal and the United Arab Emirates. In addition, Page Industries has an exclusive agreement with Speedo International Limited for the manufacture, sale and distribution of the Speedo brand in India. The company has declared a dividend of 700% on the face value 10 or 70 per share. As per the data available on BSE, the company has fixed 18/11/2022 as the record date and the ex-dividend date is falling on 17th November 2022.
The Company in its stock exchange filing said that “The Board of Directors of the Company in its meeting held today (i.e., 10th November 2022) has declared a Second Interim Dividend of 2022-23 of Rs.70/- per Equity Share. As stated earlier The record date for payment of interim dividend has been fixed as November 18, 2022. The due date for payment of dividend is December 9, 2022 or earlier.”
Page Industries net profit up by 1.02% for the quarter ending September 2022 to 162.13 crore 160.49 crore in the same quarter last year. Compared to 1084.01 Crore in Q2FY22, the firm reported a net sales of Rs. 1255.02 Cr in Q2FY23, showing a YoY growth of 16%. In Q2FY23, EBITDA totaled Rs. 237.9 crore, up 2% year-on-year but down nearly 20% quarter on quarter. The margin level was around 19%. EPS climbed 145.36 per share in Q2FY23 as compared to 143.88 more in Q2FY22 185.62 in Q1FY23. Page Industries has declared an equity dividend of 3700.00%, or 370 per share, for the financial year ending March 31, 2022 or FY22. It pays dividend on the current share price of 47,499.95 of 0.77%.
Research analysts at broking firm ICICI Securities on Friday said “Pages had a softer print than expected with revenue growth at 16% YoY (1% volume growth). Management’s clarification that core (excluding masks) sales grew 20% was up 7%, but we might have appreciated this clarity just last year. EBITDA margin of 19.0% was also lower than the guidance range of 20-21% (annualised). We like the efforts to find new avenues for growth – entering the rural markets along with the kids (models are still in fine form) and athletic ranges. Furthermore, our checks indicate a good demand for women’s innerwear. The focus also continues to expand distribution (across all segments/channels). From a medium- to long-term perspective, we believe Page has the potential for (operating) margin expansion, with Page’s EBITDA margin maintained in a narrow range of 18-21% for the past 10+ years. We believe Page has made front-end investments in new opportunities. maintain ADD; TP Rs. 52,000.”
“The share price of Page has risen ~2.0x in the last five years. We maintain the hold recommendation on the stock. We value Page,” research analysts at broking firm ICICI Direct Research said on Friday 51770 i.e. 66x FY24E EPS.”
Shares of Page Industries Ltd closed on Friday 47,499.95, down 2.40% from its previous close 48,666. In its previous trading session, the stock recorded a total volume of 39,220 shares as compared to the 20-day average volume of 18,477 shares. In the last 5 years, the stock has given a multibagger return of 102.59% and in the last 3 years the stock has given a growth of 98.23%. In the last 1 year, the stock has gained 16.62% and 16.05% YTD so far in 2022.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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