Page Industries Limited (IN:PAGEIND)
:PAGEIND
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Page Industries Limited
(PAGEIND)
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Rating:68Neutral
Price Target:
₹41,859.00
▲(17.03% Upside)
Action:Reiterated
Date:05/22/26
The score is driven primarily by a high-quality financial profile (strong profitability, strong ROE, and low leverage), supported by constructive technical momentum. This is meaningfully tempered by an expensive valuation (high P/E) and a history of cash-flow volatility despite recent improvement.
Positive Factors
Strong profitability and ROE
Consistent multi-year profitability and very strong ROE indicate efficient capital allocation and a durable earnings base. This supports reinvestment in brands, funds shareholder returns, and provides a buffer against cyclical weakness, sustaining long-term financial resilience.
Negative Factors
Cash-flow volatility
A notable 2023 operating/free-cash-flow shortfall versus reported profit shows inconsistent cash conversion. Persistent volatility undermines predictability for capex, dividends and debt servicing, increasing reliance on working-capital management or external financing over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and ROE
Consistent multi-year profitability and very strong ROE indicate efficient capital allocation and a durable earnings base. This supports reinvestment in brands, funds shareholder returns, and provides a buffer against cyclical weakness, sustaining long-term financial resilience.
Read all positive factors
Page Industries Limited (PAGEIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹448.46B
Dividend Yield1.71%
Average Volume (3M)704.00
Price to Earnings (P/E)58.7
Beta (1Y)0.86
Revenue Growth6.32%
EPS Growth4.76%
CountryIN
Employees19,461
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Manufacturers
Share Statistics
EPS (TTM)685.16
Shares Outstanding11,153,874
10 Day Avg. Volume1,360
30 Day Avg. Volume704
Financial Highlights & Ratios
PEG Ratio9.75
Price to Book (P/B)23.59
Price to Sales (P/S)6.75
P/FCF Ratio51.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)777.6
Revenue Forecast (FY)₹58.92B
Page Industries Limited Business Overview & Revenue Model
Company Description
Page Industries Limited is an international manufacturer, marketer, and distributor of textile apparel and accessories, serving men, women, and junior boys and girls. The company's diverse product portfolio, primarily under the Jockey brand, inclu...
How the Company Makes Money
Page Industries primarily makes money by selling branded apparel products in India. Its core revenue stream is the sale of Jockey-branded innerwear, leisurewear/athleisure, and related categories, which it manufactures and/or sources and then dist...
Page Industries Limited Financial Statement Overview
Summary
Income Statement
79
Positive
Balance Sheet
84
Very Positive
Cash Flow
67
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.97B | 52.47B | 49.13B | 45.47B | 46.78B | 37.25B |
| Gross Profit | 26.85B | 30.87B | 25.29B | 22.25B | 23.49B | 18.18B |
| EBITDA | 11.80B | 11.82B | 11.24B | 8.92B | 8.77B | 8.06B |
| Net Income | 7.64B | 7.64B | 7.29B | 5.69B | 5.71B | 5.37B |
Balance Sheet | ||||||
| Total Assets | 27.86B | 28.56B | 26.43B | 26.83B | 26.93B | 21.07B |
| Cash, Cash Equivalents and Short-Term Investments | 5.08B | 4.33B | 4.62B | 3.14B | 6.66M | 2.79B |
| Total Debt | 2.68B | 2.77B | 2.62B | 1.85B | 4.06B | 1.76B |
| Total Liabilities | 13.77B | 13.54B | 12.36B | 10.86B | 13.22B | 10.18B |
| Stockholders Equity | 14.09B | 15.03B | 14.07B | 15.97B | 13.71B | 10.89B |
Cash Flow | ||||||
| Free Cash Flow | 4.46B | 6.87B | 11.24B | 9.84B | -1.67B | 2.29B |
| Operating Cash Flow | 5.02B | 7.94B | 12.04B | 10.80B | -16.08M | 3.27B |
| Investing Cash Flow | -1.54B | -212.13M | 116.55M | -3.70B | 307.75M | 1.19B |
| Financing Cash Flow | -4.27B | -7.44B | -10.10B | -6.21B | -1.74B | -3.96B |
Page Industries Limited Technical Analysis
Positive
35766.75
Price Trends
37570.61
Positive
35057.63
Positive
37212.85
Positive
Market Momentum
684.56
Negative
63.63
Neutral
86.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PAGEIND, the sentiment is Positive. The current price of 35766.75 is below the 20-day moving average (MA) of 38539.26, below the 50-day MA of 37570.61, and below the 200-day MA of 37212.85, indicating a bullish trend. The MACD of 684.56 indicates Negative momentum. The RSI at 63.63 is Neutral, neither overbought nor oversold. The STOCH value of 86.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PAGEIND.
Page Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹448.46B | 58.67 | ― | 1.71% | 6.32% | 4.76% | |
62 Neutral | ₹12.80B | 17.65 | ― | 1.82% | 1.60% | -12.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹14.82B | 13.81 | ― | 0.82% | 9.97% | 17.98% | |
55 Neutral | ₹1.10B | 33.85 | ― | ― | -0.05% | 162.26% | |
55 Neutral | ₹37.81B | 36.43 | ― | 0.18% | 13.38% | -37.21% | |
48 Neutral | ₹74.87B | -9.65 | ― | ― | -37.56% | -57.88% |
* Consumer Cyclical Sector Average
IN:PAGEIND
Page Industries Limited
39,976.55
-4,832.87
-10.79%
IN:ABFRL
Aditya Birla Fashion and Retail Limited
60.82
-13.83
-18.53%
IN:DOLLAR
Dollar Industries Ltd.
258.75
-101.87
-28.25%
IN:LOVABLE
Lovable Lingerie Limited
74.15
-21.91
-22.81%
IN:LUXIND
Lux Industries Ltd.
1,246.45
-147.43
-10.58%
IN:RUPA
Rupa & Co. Ltd.
161.10
-41.69
-20.56%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.