PAGEIND - Fundamental Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Fundamental Rating: 4.3

Let’s stitch together an analysis of Page Industries (PAGEIND) — the exclusive licensee of Jockey in India and a clear leader in branded innerwear. With outstanding capital efficiency but lofty valuation, it’s a classic case of quality at a price 👕💹

📘 Core Financial Performance

Profitability Snapshot

PAT declined from ₹205 Cr. to ₹164 Cr. this quarter, but YoY growth of 51.6% reflects strong long-term profitability.

EPS: ₹654 — impressive, underlining high per-share earnings strength.

Return Ratios

ROE: 48.5%, ROCE: 59.4% — elite returns, among the top in India’s consumer space.

Debt-to-Equity: 0.19 — low leverage enhances financial resilience and equity strength.

💸 Valuation Deep Dive

Indicator Value Interpretation

P/E Ratio 71.6 Valuation premium vs. industry PE (32.6)

P/B Ratio ~37.1 Richly valued above book

PEG Ratio 6.66 Signals high valuation vs expected growth

Intrinsic Value ~₹38,500–₹42,000 Trading well above fair value estimates

🟥 Clearly expensive — valuation assumes sustained growth and market dominance.

🏢 Business Model & Competitive Advantage

Dominant player in India’s organized innerwear market; brand strength + distribution gives it a wide moat.

Exclusive license from Jockey International adds aspirational edge and global recognition.

Lean manufacturing and wide retail footprint help maintain margins.

FII interest rising (+0.45%), while DII slightly reduced (-0.12%) — indicates growing global confidence in premium Indian consumer stories.

📉 Technical Setup & Entry Zone

RSI: 46.7 — neutral; not signaling overbought or oversold.

MACD: +24.2 — bullish trend continues.

Price hovering around DMA 50 (₹47,040) and DMA 200 (₹44,958) — consolidating just below resistance.

🎯 Suggested Entry Zone

Strategic long-term buy: ₹44,000–₹45,500

Deep value positioning: Wait near ₹40,000–₹42,000 during sector-wide corrections

⏳ Long-Term Holding View

✅ High ROE/ROCE, brand dominance, debt-light, scalable model

⚠️ Valuation stretched — future earnings must justify price tag

🟢 Excellent fit for long-term core portfolios, especially for those building exposure to high-quality consumer plays

If you're eyeing comparisons, I can place Page against peers like Lux Industries, Rupa & Co., and Aditya Birla Fashion to contrast valuations, returns, and brand leverage 📊✨ Shall we?

Edit in a page