WEBSITE BSE:532827 NSE : PAGE INDUSTR 07 Nov, 15:55
Market Cap ₹44325 Cr.
Stock P/E 60.8
P/B 27.6
Current Price ₹39740
Book Value ₹ 1441.6
Face Value 10
52W High ₹50470.6
Dividend Yield 2.26%
52W Low ₹ 38909.6
Page Industries Limited is engaged within the enterprise of manufacturing and trading of garments. The Company offers knitted garments. The Company gives quite a number of merchandise for men, women and children. The Company is engaged in the manufacturing, distribution and advertising of Jockey products. The Company holds license of SPEEDO, an international brand for swim wears. The Jockey is available in over 1400 cities. The Company's Jockey logo products are sold through EBO, large format stores (LFS), multi brand shops (MBO), traditional hosiery stores and multi-cause stores unfold across India. The Company has approximately 4 EBOs inside the United Arab Emirates and over one EBO in Sri Lanka. The SPEEDO brand is available in about 1060 shops, such as over 150 LFS throughout approximately 110 towns and over nine EBOs. It operates its own online shop www.Jockeyindia.Com. Its plants are in Bangalore, Hassan and Mysore, among others.
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| #(Fig in Cr.) | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 965 | 1229 | 1122 | 1226 | 992 | 1278 | 1246 | 1313 | 1098 | 1317 |
| Other Income | 7 | 5 | 5 | 9 | 14 | 13 | 15 | 14 | 20 | 15 |
| Total Income | 972 | 1234 | 1127 | 1234 | 1006 | 1290 | 1261 | 1327 | 1118 | 1331 |
| Total Expenditure | 830 | 991 | 892 | 999 | 828 | 1034 | 965 | 1011 | 863 | 1022 |
| Operating Profit | 141 | 244 | 235 | 235 | 178 | 256 | 296 | 317 | 255 | 309 |
| Interest | 14 | 13 | 11 | 11 | 10 | 12 | 11 | 12 | 12 | 13 |
| Depreciation | 21 | 21 | 25 | 23 | 23 | 22 | 23 | 30 | 25 | 27 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 107 | 210 | 199 | 202 | 145 | 222 | 262 | 275 | 219 | 270 |
| Provision for Tax | 28 | 52 | 49 | 50 | 37 | 57 | 67 | 70 | 55 | 69 |
| Profit After Tax | 78 | 158 | 150 | 152 | 108 | 165 | 195 | 205 | 164 | 201 |
| Adjustments | -0 | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 78 | 158 | 150 | 152 | 108 | 165 | 195 | 205 | 164 | 201 |
| Adjusted Earnings Per Share | 70.2 | 142 | 134.7 | 136.6 | 97 | 148.1 | 175.1 | 183.5 | 147 | 180 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1543 | 1796 | 2129 | 2551 | 2852 | 2946 | 2933 | 4021 | 4926 | 4791 | 5169 | 4974 |
| Other Income | 8 | 10 | 24 | 22 | 36 | 25 | 19 | 21 | 16 | 32 | 62 | 64 |
| Total Income | 1552 | 1805 | 2153 | 2573 | 2889 | 2970 | 2953 | 4042 | 4942 | 4824 | 5231 | 5037 |
| Total Expenditure | 1223 | 1419 | 1714 | 2010 | 2234 | 2413 | 2406 | 3234 | 4065 | 3931 | 4107 | 3861 |
| Operating Profit | 329 | 386 | 439 | 563 | 654 | 558 | 547 | 808 | 877 | 892 | 1124 | 1177 |
| Interest | 18 | 19 | 19 | 18 | 17 | 34 | 30 | 34 | 41 | 45 | 46 | 48 |
| Depreciation | 18 | 24 | 25 | 28 | 31 | 61 | 63 | 65 | 78 | 91 | 99 | 105 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 293 | 343 | 395 | 518 | 606 | 462 | 453 | 709 | 758 | 757 | 979 | 1026 |
| Provision for Tax | 97 | 112 | 129 | 171 | 212 | 119 | 113 | 172 | 187 | 187 | 249 | 261 |
| Profit After Tax | 196 | 232 | 266 | 347 | 394 | 343 | 341 | 537 | 571 | 569 | 729 | 765 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 196 | 232 | 266 | 347 | 394 | 343 | 341 | 537 | 571 | 569 | 729 | 765 |
| Adjusted Earnings Per Share | 175.7 | 207.6 | 238.7 | 311.1 | 353.2 | 307.7 | 305.3 | 481 | 512.1 | 510.3 | 653.7 | 685.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 8% | 9% | 12% | 13% |
| Operating Profit CAGR | 26% | 12% | 15% | 13% |
| PAT CAGR | 28% | 11% | 16% | 14% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -12% | -7% | 13% | 12% |
| ROE Average | 49% | 44% | 46% | 47% |
| ROCE Average | 68% | 59% | 62% | 62% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 387 | 530 | 666 | 847 | 775 | 820 | 885 | 1089 | 1371 | 1597 | 1407 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 35 | 24 | 40 | 33 | 20 | 20 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 384 | 16 | 23 | 24 | 22 | 116 | 100 | 78 | 123 | 138 | 217 |
| Total Current Liabilities | 312 | 376 | 426 | 508 | 534 | 557 | 712 | 936 | 1194 | 938 | 1010 |
| Total Liabilities | 1117 | 946 | 1154 | 1412 | 1351 | 1513 | 1698 | 2103 | 2688 | 2673 | 2635 |
| Fixed Assets | 217 | 217 | 236 | 238 | 301 | 406 | 386 | 402 | 485 | 488 | 758 |
| Other Non-Current Assets | 339 | 46 | 85 | 119 | 45 | 93 | 86 | 133 | 241 | 310 | 135 |
| Total Current Assets | 561 | 684 | 833 | 1055 | 1005 | 1015 | 1225 | 1568 | 1962 | 1876 | 1742 |
| Total Assets | 1117 | 946 | 1154 | 1412 | 1351 | 1513 | 1698 | 2103 | 2688 | 2673 | 2635 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | 4 | 9 | -7 | 20 | -2 | 111 | 40 | 89 | -56 | 33 |
| Cash Flow from Operating Activities | 167 | 219 | 274 | 453 | 230 | 517 | 696 | 327 | -2 | 1080 | 1204 |
| Cash Flow from Investing Activities | -53 | -26 | -108 | -238 | 192 | -27 | -401 | 119 | 31 | -370 | 12 |
| Cash Flow from Financing Activities | -113 | -189 | -154 | -188 | -443 | -378 | -366 | -396 | -174 | -621 | -1010 |
| Net Cash Inflow / Outflow | 1 | 4 | 12 | 27 | -22 | 113 | -71 | 49 | -145 | 89 | 205 |
| Closing Cash & Cash Equivalent | 4 | 9 | 21 | 20 | -2 | 111 | 40 | 89 | -56 | 33 | 238 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 175.75 | 207.57 | 238.73 | 311.08 | 353.18 | 307.71 | 305.34 | 481.02 | 512.15 | 510.3 | 653.7 |
| CEPS(Rs) | 191.56 | 229.19 | 260.89 | 336.17 | 381.03 | 362.72 | 361.75 | 539.72 | 582.16 | 591.73 | 742.67 |
| DPS(Rs) | 72 | 85 | 97 | 96 | 344 | 161 | 250 | 370 | 250 | 370 | 900 |
| Book NAV/Share(Rs) | 346.75 | 475.05 | 596.9 | 759.64 | 694.81 | 735.05 | 793.33 | 976 | 1229.2 | 1431.71 | 1261.61 |
| Core EBITDA Margin(%) | 20.75 | 20.95 | 19.46 | 21.22 | 21.66 | 18.09 | 17.84 | 19.49 | 17.31 | 17.59 | 20.25 |
| EBIT Margin(%) | 20.14 | 20.15 | 19.45 | 20.97 | 21.85 | 16.85 | 16.37 | 18.39 | 16.06 | 16.39 | 19.53 |
| Pre Tax Margin(%) | 19 | 19.1 | 18.53 | 20.28 | 21.25 | 15.68 | 15.34 | 17.56 | 15.24 | 15.47 | 18.65 |
| PAT Margin (%) | 12.7 | 12.89 | 12.5 | 13.6 | 13.81 | 11.65 | 11.52 | 13.29 | 11.48 | 11.64 | 13.9 |
| Cash Profit Margin (%) | 13.84 | 14.23 | 13.66 | 14.69 | 14.9 | 13.74 | 13.65 | 14.91 | 13.05 | 13.5 | 15.79 |
| ROA(%) | 19.59 | 22.44 | 25.36 | 27.04 | 28.52 | 23.97 | 21.22 | 28.23 | 23.85 | 21.23 | 27.47 |
| ROE(%) | 58.02 | 50.52 | 44.54 | 45.86 | 48.57 | 43.04 | 39.96 | 54.37 | 46.45 | 38.36 | 48.54 |
| ROCE(%) | 62.42 | 61.93 | 60.12 | 64.12 | 70.2 | 57.8 | 55.51 | 75.23 | 59.04 | 49.84 | 68.24 |
| Receivable days | 18.98 | 19.33 | 18.43 | 18.64 | 17.39 | 12.24 | 13.02 | 13.66 | 11.41 | 11.37 | 12.18 |
| Inventory Days | 95.28 | 100 | 99.68 | 85.15 | 84.33 | 91 | 78.64 | 69.15 | 94.26 | 103.23 | 70.58 |
| Payable days | 50.3 | 46.82 | 43.4 | 41.57 | 39.4 | 30.06 | 49.76 | 65.52 | 56.93 | 41.29 | 37.6 |
| PER(x) | 78.14 | 58.59 | 61.32 | 72.92 | 70.49 | 55.01 | 99.35 | 89.79 | 74.07 | 67.47 | 65.42 |
| Price/Book(x) | 39.6 | 25.6 | 24.53 | 29.86 | 35.83 | 23.03 | 38.24 | 44.25 | 30.86 | 24.05 | 33.9 |
| Dividend Yield(%) | 0.52 | 0.7 | 0.66 | 0.42 | 1.38 | 0.95 | 0.82 | 0.86 | 0.66 | 1.07 | 2.1 |
| EV/Net Sales(x) | 10.02 | 7.6 | 7.7 | 9.92 | 9.75 | 6.38 | 11.39 | 11.91 | 8.64 | 7.95 | 9.14 |
| EV/Core EBITDA(x) | 47.08 | 35.36 | 37.35 | 44.93 | 42.5 | 33.71 | 61.1 | 59.29 | 48.49 | 42.68 | 42.01 |
| Net Sales Growth(%) | 29.95 | 16.34 | 18.54 | 19.87 | 11.79 | 3.27 | -0.41 | 37.06 | 22.52 | -2.74 | 7.89 |
| EBIT Growth(%) | 25 | 16.4 | 14.47 | 29.18 | 16.45 | -20.35 | -2.55 | 53.46 | 7.68 | 0.25 | 27.9 |
| PAT Growth(%) | 27.47 | 18.11 | 15.02 | 30.3 | 13.54 | -12.87 | -0.77 | 57.53 | 6.47 | -0.36 | 28.1 |
| EPS Growth(%) | 27.47 | 18.11 | 15.02 | 30.3 | 13.54 | -12.87 | -0.77 | 57.53 | 6.47 | -0.36 | 28.1 |
| Debt/Equity(x) | 0.41 | 0.18 | 0.13 | 0.08 | 0.11 | 0.05 | 0 | 0 | 0.18 | 0 | 0 |
| Current Ratio(x) | 1.8 | 1.82 | 1.96 | 2.08 | 1.88 | 1.82 | 1.72 | 1.67 | 1.64 | 2 | 1.72 |
| Quick Ratio(x) | 0.38 | 0.38 | 0.49 | 0.96 | 0.48 | 0.53 | 0.94 | 0.63 | 0.31 | 0.75 | 0.87 |
| Interest Cover(x) | 17.62 | 19.19 | 21.26 | 30.24 | 36.19 | 14.44 | 15.95 | 22.09 | 19.36 | 17.85 | 22.1 |
| Total Debt/Mcap(x) | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 46.12 | 45.11 | 45.11 | 45.11 | 45.04 | 44.29 | 42.89 | 42.89 | 42.89 | 42.89 |
| FII | 21.99 | 21.97 | 21.77 | 20.86 | 20.54 | 20.84 | 22.66 | 23.58 | 24.03 | 23.21 |
| DII | 22.02 | 23.57 | 24.63 | 26.6 | 28.1 | 29.51 | 29.43 | 28.61 | 28.49 | 29.24 |
| Public | 9.87 | 9.35 | 8.49 | 7.43 | 6.31 | 5.35 | 5.02 | 4.92 | 4.59 | 4.67 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.51 | 0.5 | 0.5 | 0.5 | 0.5 | 0.49 | 0.48 | 0.48 | 0.48 | 0.48 |
| FII | 0.25 | 0.25 | 0.24 | 0.23 | 0.23 | 0.23 | 0.25 | 0.26 | 0.27 | 0.26 |
| DII | 0.25 | 0.26 | 0.27 | 0.3 | 0.31 | 0.33 | 0.33 | 0.32 | 0.32 | 0.33 |
| Public | 0.11 | 0.1 | 0.09 | 0.08 | 0.07 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | Listing Price | Listing Gain(%) | Current Price | Return (%) | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | Listing Price | Listing Gain(%) | Current Price | Return (%) | Type | Exchange |
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