Hold Page Industries; target of Rs 43850: ICICI Direct

Trading Calls - Equity F&O

ICICI Direct recommended hold rating on Page Industries with a target price of Rs 43850 in its research report dated November 12, 2021.

Broker Research

November 17, 2021 / 03:13 PM IST

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ICICI Direct’s research report on Page Industries

Page Industries is the exclusive licensee of Jockey international brand and is the market leader in premium innerwear and leisurewear category. The brand is distributed in 2,895+ cities & towns and available in 100000+ MBOs and 1000+ EBOs. Page sold ~ 148 million pieces in FY21. Strong backward integration facilities having capacity of 250 million pieces • Robust business model generating 55%+ RoCE, delivering consistent EBITDA margins of 20%+ and having debt free b/s.

Outlook

We maintain HOLD recommendation on the stock. We value Page at Rs 43850 i.e. 63x FY23E EPS.

For all recommendations report, click here

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