This multibagger midcap stock can convert to largecap in AMFI review

Page Industries is involved in the manufacturing and retailing of innerwear, and is the exclusive licensee of Jockey International in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and the United Arab Emirates. It is also the exclusive licensee of Speedo International Limited to manufacture, market and distribute the Speedo brand in India.

In Q2FY23, the company posted a net profit of 162 crores. The company posted a net profit of 160.48 crore during the July-September period a year ago. Whereas, its revenue remained 1,255 crore, up 16% from the year-ago quarter. Meanwhile, the board also declared the second interim dividend of Rs. 70 per equity share for FY23.

VS Ganesh, MD, Page Industries, had said, “We are consistent with our guidance of delivering strong growth on the back of strong levers such as the shift in organized retail, increased demand for branded innerwear, and rising aspirations for global brands. The company will Continue to invest in capacity building, manpower, business process re-engineering, digital outreach and advertising while building inventory.”

multibagger stock Has gained over 17200% in 15 years since its listing in March 2007 when it was trading at approx 270 per share level currently hovering above 47,000 level. Shares of Page Industries are up nearly 15% so far in 2022 (YTD). The stock recently touched its all-time high 54,262 per share in October this year.

As per capital markets regulator Securities and Exchange Board of India (SEBI), listed stocks should be strictly classified into baskets with a well-defined classification of largecap, midcap and smallcap stocks. This is to ensure uniformity with respect to the investment world for equity mutual fund schemes.

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