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Last Updated: April 2, 2026, 3:27 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532827 | NSE: PAGEIND

Page Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹23,667.75Overvalued by 27.44%vs CMP ₹32,620.00

P/E (47.0) × ROE (48.5%) × BV (₹1,263.00) × DY (2.76%)

₹10,068.02Overvalued by 69.14%vs CMP ₹32,620.00
MoS: -224% (Negative)Confidence: 70/100 (High)Models: All 10: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹25,301.5920%Over (-22.4%)
Graham NumberEarnings₹4,368.6914%Over (-86.6%)
Earnings PowerEarnings₹4,220.0512%Over (-87.1%)
DCFCash Flow₹9,601.9212%Over (-70.6%)
Net Asset ValueAssets₹1,263.246%Over (-96.1%)
EV/EBITDAEnterprise₹12,261.198%Over (-62.4%)
Dividend DiscountDividends₹5,243.678%Over (-83.9%)
Earnings YieldEarnings₹6,716.106%Over (-79.4%)
ROCE CapitalReturns₹6,129.318%Over (-81.2%)
Revenue MultipleRevenue₹6,636.705%Over (-79.7%)
Consensus (10 models)₹10,068.02100%Overvalued
Key Drivers: Wide model spread (₹1,263–₹25,302) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.9%

*Investments are subject to market risks

Investment Snapshot

72
Page Industries Ltd scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 59.4% ExcellentROE 48.5% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -2.87% (6mo) SellingDII holding up 2.91% MF buyingPromoter holding at 42.9% Stable
Earnings Quality60/100 · Moderate
OPM stable around 21% SteadyWorking capital: 19 days (improving) Efficient
Quarterly Momentum68/100 · Strong
Revenue (4Q): +5% YoY GrowingProfit (4Q): +11% YoY Positive
Industry Rank75/100 · Strong
P/E 47.0 vs industry 33.4 In-lineROCE 59.4% vs industry 11.4% Above peersROE 48.5% vs industry 15.7% Above peers3Y sales CAGR: 8% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:27 am

Market Cap 36,384 Cr.
Current Price 32,620
Intrinsic Value₹10,068.02
High / Low 50,590/29,800
Stock P/E47.0
Book Value 1,263
Dividend Yield2.76 %
ROCE59.4 %
ROE48.5 %
Face Value 10.0
PEG Ratio6.81

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Page Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Page Industries Ltd 36,384 Cr. 32,620 50,590/29,80047.0 1,2632.76 %59.4 %48.5 % 10.0
Swan Energy Ltd 14,247 Cr. 454 810/36222.4 2340.02 %14.3 %11.1 % 1.00
Pearl Global Industries Ltd 6,706 Cr. 1,453 1,993/87525.7 2790.79 %22.1 %24.3 % 5.00
Arvind Fashions Ltd 5,507 Cr. 411 579/320 74.30.39 %16.9 %3.63 % 4.00
Gokaldas Exports Ltd 4,533 Cr. 619 1,060/53138.7 2940.00 %10.6 %8.16 % 5.00
Industry Average4,184.42 Cr1,215.8433.42143.320.29%11.36%15.66%7.21

All Competitor Stocks of Page Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,2009651,2291,1251,2269921,2781,2461,3131,0981,3171,2911,387
Expenses 1,0078309918929998281,0349651,0118631,0221,0111,069
Operating Profit 193134239234226164243281303235295280318
OPM % 16%14%19%21%18%17%19%23%23%21%22%22%23%
Other Income 2752914131514201519-23
Interest 10141311101012111212131313
Depreciation 20212125232322233025272527
Profit before tax 164107210199202145222262275219270261256
Tax % 25%26%25%25%25%25%26%26%26%25%26%25%26%
Net Profit 12478158150152108165195205164201195190
EPS in Rs 110.9370.24141.98134.73136.5997.01148.13175.06183.49147.04180.03174.61169.93

Last Updated: March 3, 2026, 3:53 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 7:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1881,5431,7962,1292,5512,8522,9462,8333,8864,7144,5694,9355,092
Expenses 9311,2231,4191,7142,0102,2342,4122,3053,0993,8513,7093,8723,965
Operating Profit 2563203764155426185335287878638601,0631,128
OPM % 22%21%21%19%21%22%18%19%20%18%19%22%22%
Other Income 681024213625192115326232
Interest 15181919181734303441454650
Depreciation 141824252831616365789199103
Profit before tax 2332933433955186064624537097587569791,006
Tax % 34%33%33%33%33%35%26%25%24%25%25%25%
Net Profit 154196232266347394343341537571569729749
EPS in Rs 137.87175.74207.57238.73311.08353.19307.71305.35481.02512.15510.31653.71671.61
Dividend Payout % 44%41%41%41%42%97%52%82%77%49%72%138%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)27.27%18.37%14.66%30.45%13.54%-12.94%-0.58%57.48%6.33%-0.35%28.12%
Change in YoY Net Profit Growth (%)0.00%-8.91%-3.71%15.80%-16.91%-26.49%12.36%58.06%-51.15%-6.68%28.47%

Page Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:11%
3 Years:8%
TTM:8%
Compounded Profit Growth
10 Years:14%
5 Years:16%
3 Years:11%
TTM:33%
Stock Price CAGR
10 Years:13%
5 Years:19%
3 Years:-4%
1 Year:9%
Return on Equity
10 Years:46%
5 Years:45%
3 Years:44%
Last Year:49%

Last Updated: September 5, 2025, 12:05 pm

Balance Sheet

Last Updated: December 10, 2025, 3:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11111111111111111111111111
Reserves 2783765196558367648098741,0771,3601,5861,3961,398
Borrowings 16315795886985176127110406185262268
Other Liabilities 2332793214014974915176889089159019741,089
Total Liabilities 6868239461,1541,4121,3511,5131,7002,1072,6932,6832,6432,766
Fixed Assets 173217217236238301406386402485488758768
CWIP 400245972928651502397292
Investments 0005221800000000
Other Assets 5096067298428981,0431,0791,2861,6392,0571,9561,8131,906
Total Assets 6868239461,1541,4121,3511,5131,7002,1072,6932,6832,6432,766

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 75167219274453230517696327-21,0801,204
Cash from Investing Activity + -49-53-26-108-238192-27-40111936-37012
Cash from Financing Activity + -27-113-189-154-188-443-378-366-396-179-621-1,010
Net Cash Flow -1141227-22113-7149-14589205
Free Cash Flow 24114193212396192442682229-1659861,125
CFO/OP 58%82%86%100%114%70%121%156%64%22%147%136%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow93.00163.00281.00327.00473.00533.00357.00401.00677.00457.00675.00-261.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 22212119211691816111314
Inventory Days 337317288264191229200160208279205147
Days Payable 545950474637267277503244
Cash Conversion Cycle 305279259236166207183106146240185118
Working Capital Days 525861573755421033594919
ROCE %64%62%62%60%64%69%53%48%67%54%45%59%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 46.12%46.12%45.11%45.11%45.11%45.04%44.29%42.89%42.89%42.89%42.89%42.89%
FIIs 22.38%21.99%21.98%21.78%20.86%20.55%20.84%22.67%23.58%24.03%23.20%20.71%
DIIs 21.26%21.41%22.92%23.92%25.85%27.35%28.76%28.69%27.87%27.75%28.52%30.78%
Government 0.61%0.61%0.63%0.71%0.76%0.75%0.75%0.75%0.75%0.75%0.71%0.71%
Public 9.61%9.88%9.35%8.49%7.43%6.30%5.35%5.02%4.92%4.59%4.67%4.90%
No. of Shareholders 90,8551,02,33798,08292,19284,51369,79657,51552,18150,90548,07647,10354,428

Shareholding Pattern Chart

No. of Shareholders

Page Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund 317,411 1.29 1047.3127,4112026-01-26 03:43:15149.12%
SBI Large Cap Fund 317,000 1.91 1045.94N/AN/AN/A
ICICI Prudential Large & Mid Cap Fund 274,572 3.3 905.95241,4302026-02-22 08:05:0513.73%
ICICI Prudential Multi Asset Fund 229,169 0.94 756.14218,3042026-02-21 02:13:534.98%
ICICI Prudential Large Cap Fund 122,953 0.53 405.68113,9162026-02-22 13:50:457.93%
SBI Large & Midcap Fund 121,443 1.07 400.772,2302025-12-07 03:51:0368.13%
Nippon India Multi Cap Fund 108,496 0.73 357.98104,4962026-02-21 16:15:513.83%
Nippon India Growth Mid Cap Fund 96,000 0.76 316.75N/AN/AN/A
SBI Midcap Fund 96,000 1.41 316.75N/AN/AN/A
DSP Mid Cap Fund 81,778 1.42 269.8394,9312026-01-26 03:43:15-13.86%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 653.71510.31512.15481.03305.35
Diluted EPS (Rs.) 653.71510.31512.15481.03305.35
Cash EPS (Rs.) 742.66591.73582.16539.72361.75
Book Value[Excl.RevalReserv]/Share (Rs.) 1261.611431.711229.20976.00793.33
Book Value[Incl.RevalReserv]/Share (Rs.) 1261.611431.711229.20976.00793.33
Dividend / Share (Rs.) 900.00370.00250.00370.00250.00
Revenue From Operations / Share (Rs.) 4424.344107.654293.203484.372539.86
PBDIT / Share (Rs.) 1007.88799.91786.69723.01489.58
PBIT / Share (Rs.) 918.91718.48716.68664.31433.17
PBT / Share (Rs.) 877.33678.23679.67635.44406.51
Net Profit / Share (Rs.) 653.70510.30512.15481.02305.34
PBDIT Margin (%) 22.7819.4718.3220.7419.27
PBIT Margin (%) 20.7617.4916.6919.0617.05
PBT Margin (%) 19.8216.5115.8318.2316.00
Net Profit Margin (%) 14.7712.4211.9213.8012.02
Return on Networth / Equity (%) 51.8135.6441.6649.2838.48
Return on Capital Employeed (%) 62.7845.9453.3263.2948.92
Return On Assets (%) 27.5821.2121.2125.4620.03
Total Debt / Equity (X) 0.000.000.180.000.00
Asset Turnover Ratio (%) 1.851.702.002.041.76
Current Ratio (X) 1.722.001.651.671.72
Quick Ratio (X) 0.870.750.300.630.94
Inventory Turnover Ratio (X) 4.860.811.161.320.91
Dividend Payout Ratio (NP) (%) 125.4360.7450.7662.3681.87
Dividend Payout Ratio (CP) (%) 110.4152.3844.6655.5869.10
Earning Retention Ratio (%) -25.4339.2649.2437.6418.13
Cash Earning Retention Ratio (%) -10.4147.6255.3444.4230.90
Interest Coverage Ratio (X) 24.2419.8721.2625.0518.36
Interest Coverage Ratio (Post Tax) (X) 16.7213.6814.8417.6612.45
Enterprise Value (Cr.) 47230.1538079.8942551.0147893.6233401.99
EV / Net Operating Revenue (X) 9.578.318.8912.3211.79
EV / EBITDA (X) 42.0142.6848.4959.3961.17
MarketCap / Net Operating Revenue (X) 9.678.388.8412.4011.94
Retention Ratios (%) -25.4339.2549.2337.6318.12
Price / BV (X) 33.9024.0530.8644.2538.24
Price / Net Operating Revenue (X) 9.678.388.8412.4011.94
EarningsYield 0.010.010.010.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Page Industries Ltd. is a Public Limited Listed company incorporated on 15/11/1994 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L18101KA1994PLC016554 and registration number is 016554. Currently Company is involved in the business activities of Manufacture of all types of textile garments and clothing accessories. Company's Total Operating Revenue is Rs. 4934.91 Cr. and Equity Capital is Rs. 11.15 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Textiles - Readymade ApparelsCessna Business Park, Tower-1, 7th Floor, Bengaluru Karnataka 560103Contact not found
Management
NamePosition Held
Mr. Sunder GenomalChairman
Mr. V S GaneshManaging Director
Mr. Shamir GenomalDeputy Managing Director
Mr. Ramesh GenomalNon Executive Director
Mr. Christopher Carroll SmithNon Executive Director
Mr. Sanjeev GenomalNon Executive Director
Mr. Rohan GenomalNon Executive Director
Mr. Varun BerryIndependent Director
Mr. Jignesh BhateIndependent Director
Mr. Arif VazirallyIndependent Director
Dr. Shravan SubramanyamIndependent Director
Ms. Naina Krishna MurthyIndependent Director
Mr. Suresh Eshwara PrabhalaIndependent Director
Mr. Dinesh Ramkrishin MalkaniIndependent Director

FAQ

What is the intrinsic value of Page Industries Ltd and is it undervalued?

As of 19 April 2026, Page Industries Ltd's intrinsic value is ₹10068.02, which is 69.14% lower than the current market price of ₹32,620.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (48.5 %), book value (₹1,263), dividend yield (2.76 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Page Industries Ltd?

Page Industries Ltd is trading at ₹32,620.00 as of 19 April 2026, with a FY2026-2027 high of ₹50,590 and low of ₹29,800. The stock is currently near its 52-week low. Market cap stands at ₹36,384 Cr..

How does Page Industries Ltd's P/E ratio compare to its industry?

Page Industries Ltd has a P/E ratio of 47.0, which is above the industry average of 33.42. The premium over industry average may reflect growth expectations or speculative interest.

Is Page Industries Ltd financially healthy?

Key indicators for Page Industries Ltd: ROCE of 59.4 % indicates efficient capital utilization; ROE of 48.5 % shows strong shareholder returns. Dividend yield is 2.76 %.

Is Page Industries Ltd profitable and how is the profit trend?

Page Industries Ltd reported a net profit of ₹729 Cr in Mar 2025 on revenue of ₹4,935 Cr. Compared to ₹537 Cr in Mar 2022, the net profit shows an improving trend.

Does Page Industries Ltd pay dividends?

Page Industries Ltd has a dividend yield of 2.76 % at the current price of ₹32,620.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Page Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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