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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532827 | NSE: PAGEIND

Fundamental Analysis of Page Industries Ltd

About the Company - Page Industries Ltd

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. 3886.47 Cr. and Equity Capital is Rs. 11.15 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Readymade ApparelsCessna Business Park, Tower-1, 7th Floor, Bengaluru Karnataka 560103investors@jockeyindia.com
http://www.jockey.in
Management
NamePosition Held
Mr. Sunder GenomalChairman
Mr. V S GaneshManaging Director
Mr. Shamir GenomalDeputy Managing Director
Mr. Mark FedykNon Executive Director
Mr. Ramesh GenomalNon Executive Director
Mr. Sanjeev GenomalNon Executive Director
Mr. Rohan GenomalNon Executive Director
Mr. G P AlbalIndependent Director
Mr. Sandeep MainiIndependent Director
Ms. Rukmani MenonIndependent Director
Mr. Arif VazirallyIndependent Director
Mr. Vikram ShahIndependent Director
Mr. Varun BerryIndependent Director
Mr. Jignesh BhateIndependent Director
Mr. Shahendar GenomalAlternate Director

Page Industries Ltd. Share Price Update

Share PriceValue
Today₹36,039.30
Previous Day₹36,081.95

Basic Stock Data of Page Industries Ltd

Market Cap 40,586 Cr.
Current Price 36,400
High / Low43,599/34,953
Stock P/E75.2
Book Value 1,372
Dividend Yield0.69 %
ROCE53.8 %
ROE46.4 %
Face Value 10.0

Data Source: screener.in

Competitors of Page Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Zodiac Clothing Company Ltd 329 Cr. 127151/79.0 1010.00 %4.27 %8.34 % 10.0
Suumaya Industries Ltd 53.4 Cr. 8.5023.4/6.60 1110.00 %31.7 %47.2 % 10.0
Globe Textiles (India) Ltd 62.0 Cr. 4.106.00/2.1011.9 3.790.00 %11.4 %8.58 % 2.00
Visagar Polytex Ltd 41.9 Cr. 1.432.12/0.68 0.550.00 %2.69 %7.86 % 1.00
VIP Clothing Ltd 352 Cr. 42.659.8/37.4 18.00.00 %4.92 %1.35 % 2.00
Industry Average167.66 Cr36.732.3846.870%11%14.67%5

Page Industries Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales7409278815021,0841,1901,1111,3411,2281,2239691,2321,125
Expenses5757017114678519398441,0439901,030835991892
Operating Profit16522617034233251267298238193134242234
OPM %22%24%19%7%22%21%24%22%19%16%14%20%21%
Other Income4464575332722
Interest877778109910141311
Depreciation16161616171716181920212125
Profit before tax14620715315215233246275213164107210199
Tax %24%26%24%25%25%25%23%25%24%25%26%25%25%
Net Profit1111541161116017519120716212478158150
EPS in Rs99.40137.80103.619.82143.89156.51170.81185.62145.36110.9370.24141.98134.73

Page Industries Ltd Quarterly Chart

Page Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales6978761,1881,5431,7962,1292,5512,8522,9462,8333,8864,7894,550
Expenses5476959311,2231,4191,7142,0102,2342,4122,3053,0993,9253,747
Operating Profit150181256320376415542618533528787864802
OPM %22%21%22%21%21%19%21%22%18%19%20%18%18%
Other Income5868102421362519211512
Interest10121518191918173430344348
Depreciation11111418242528316163657887
Profit before tax134166233293343395518606462453709758680
Tax %33%32%34%33%33%33%33%35%26%25%24%25%
Net Profit90113154196232266347394343341537571511
EPS in Rs80.67100.89137.87175.74207.57238.73311.08353.19307.71305.35481.02512.15457.88
Dividend Payout %46%50%44%41%41%41%42%97%52%82%77%49%

Page Industries Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)25.56%36.28%27.27%18.37%14.66%30.45%13.54%-12.94%-0.58%57.48%6.33%
Change in YoY Net Profit Growth (%)0.00%10.73%-9.01%-8.91%-3.71%15.80%-16.91%-26.49%12.36%58.06%-51.15%

Page Industries Ltd Growth

Compounded Sales Growth
10 Years:19%
5 Years:13%
3 Years:18%
TTM:-7%
Compounded Profit Growth
10 Years:18%
5 Years:11%
3 Years:19%
TTM:-21%
Stock Price CAGR
10 Years:21%
5 Years:12%
3 Years:9%
1 Year:-6%
Return on Equity
10 Years:48%
5 Years:47%
3 Years:47%
Last Year:46%

Page Industries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital11111111111111111111111111
Reserves1552022783765196558367648098741,0771,3601,519
Borrowings7610116315795886985176127110406186
Other Liabilities132160233279321401497491517688908915926
Total Liabilities3744756868239461,1541,4121,3511,5131,7002,1072,6932,642
Fixed Assets108132173217217236238301406386402485497
CWIP31040024597292865150198
Investments2100052218000000
Other Assets2623315096067298428981,0431,0791,2861,6392,0571,948
Total Assets3744756868239461,1541,4121,3511,5131,7002,1072,6932,642

Page Industries Ltd Reserves and Borrowings Chart

Page Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1238775167219274453230517696327-2
Cash from Investing Activity -25-42-49-53-26-108-238192-27-40111931
Cash from Financing Activity -97-44-27-113-189-154-188-443-378-366-396-174
Net Cash Flow11-1141227-22113-7149-145

Page Industries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days23242221211921169181611
Inventory Days220239337317288264191229200160208269
Days Payable474854595047463726727748
Cash Conversion Cycle196216305279259236166207183106146231
Working Capital Days647485817162406147143680
ROCE %60%64%64%62%62%60%64%69%53%48%67%54%

Page Industries Ltd Financial Efficiency Indicators Chart

Page Industries Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters48.32%48.32%47.91%47.91%47.19%47.19%46.12%46.12%46.12%46.12%46.12%45.11%
FIIs25.34%25.89%23.62%23.73%25.07%25.21%25.18%25.29%24.66%22.38%21.99%21.98%
DIIs15.53%15.44%18.00%18.20%17.33%17.06%18.21%18.87%19.00%21.26%21.41%22.92%
Government0.74%0.74%0.62%0.62%0.62%0.62%0.62%0.61%0.61%0.61%0.61%0.63%
Public10.07%9.61%9.84%9.54%9.79%9.92%9.87%9.10%9.60%9.61%9.88%9.35%
No. of Shareholders69,53866,80573,01870,87672,43075,72780,25980,71686,41690,8551,02,33798,082

Page Industries Ltd Shareholding Pattern Chart

No. of Page Industries Ltd Shareholders

Page Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
SBI Blue Chip Fund3170002.91181.12
SBI Focused Equity Fund1900002.31707.93
SBI Equity Hybrid Fund1274110.77474.73
SBI Magnum Midcap Fund960002.47357.69
SBI Multicap Fund770002.08286.9
SBI Magnum Global Fund730004.29271.99
SBI Large & Midcap Fund722301.57269.12
Nippon India Growth Fund685601.19255.45
UTI Flexi Cap Fund669420.98249.42
Kotak Emerging Equity Fund - Regular Plan645280.66240.43

Page Industries Ltd ROCE Trend

Page Industries Ltd EPS Trend

Page Industries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)512.15481.03305.35307.72353.19
Diluted EPS (Rs.)512.15481.03305.35307.72353.19
Cash EPS (Rs.)582.16539.72361.75362.72381.03
Book Value[Excl.RevalReserv]/Share (Rs.)1229.20976.00793.33735.05694.81
Book Value[Incl.RevalReserv]/Share (Rs.)1229.20976.00793.33735.05694.81
Dividend / Share (Rs.)250.00370.00250.00161.00344.00
Revenue From Operations / Share (Rs.)4293.203484.372539.862640.792557.11
PBDIT / Share (Rs.)786.69723.01489.58499.57585.75
PBIT / Share (Rs.)716.68664.31433.17444.56557.90
PBT / Share (Rs.)679.67635.44406.51414.21543.33
Net Profit / Share (Rs.)512.15481.02305.34307.71353.18
PBDIT Margin (%)18.3220.7419.2718.9122.90
PBIT Margin (%)16.6919.0617.0516.8321.81
PBT Margin (%)15.8318.2316.0015.6821.24
Net Profit Margin (%)11.9213.8012.0211.6513.81
Return on Networth / Equity (%)41.6649.2838.4841.8650.83
Return on Capital Employeed (%)53.3263.2948.9251.8576.19
Return On Assets (%)21.2125.4620.0322.6829.16
Long Term Debt / Equity (X)0.000.000.000.020.02
Total Debt / Equity (X)0.180.000.000.030.09
Asset Turnover Ratio (%)2.002.041.762.062.06
Current Ratio (X)1.651.671.721.821.88
Quick Ratio (X)0.300.630.940.530.47
Inventory Turnover Ratio (X)1.161.320.910.891.17
Dividend Payout Ratio (NP) (%)50.7662.3681.8752.3295.69
Dividend Payout Ratio (CP) (%)44.6655.5869.1044.3888.70
Earning Retention Ratio (%)49.2437.6418.1347.684.31
Cash Earning Retention Ratio (%)55.3444.4230.9055.6211.30
Interest Coverage Ratio (X)21.2625.0518.3616.4640.18
Interest Coverage Ratio (Post Tax) (X)14.8417.6612.4511.1425.23
Enterprise Value (Cr.)42551.0147893.6233401.9918791.1927798.99
EV / Net Operating Revenue (X)8.8912.3211.796.389.75
EV / EBITDA (X)48.4959.3961.1733.7242.55
MarketCap / Net Operating Revenue (X)8.8412.4011.946.419.74
Retention Ratios (%)49.2337.6318.1247.674.30
Price / BV (X)30.8644.2538.2423.0335.83
Price / Net Operating Revenue (X)8.8412.4011.946.419.74
EarningsYield0.010.010.010.010.01

Page Industries Ltd Profitability Ratios (%)

Page Industries Ltd Liquidity Ratios

Page Industries Ltd Liquidity Ratios (%)

Page Industries Ltd Interest Coverage Ratios (X)

Page Industries Ltd Valuation Ratios

Fair Value / Intrinsic Value of Page Industries Ltd

Fair Value: ₹48203.24

The stock is undervalued by 32.43% compared to the current price ₹36400

*Investments are subject to market risks

Strength and Weakness of Page Industries Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 60.58%, which is a positive sign.
  2. The company has higher reserves (724.92 cr) compared to borrowings (141.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (122.85 cr) and profit (445.23 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 616.92 and average Dividend Yield of 18.29%.
  2. The stock has a high average Working Capital Days of 59.58, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 210.83, which may not be favorable.

Should I Buy Page Industries Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Page Industries Ltd:
    1. Net Profit Margin: 11.92%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 53.32% (Industry Average ROCE: 11%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 14.84
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.30
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 75.2 (Industry average Stock P/E: 2.38)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.18
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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