Buy Page Industries, target price Rs 47800: Emkay Global

Emkay Global has buy call on Page Industries Ltd. with a target price of Rs 47800. The current market price of Page Industries is Rs 43311.7. Time period given by analyst is one year when Page Industries Ltd. price can reach defined target.

Page Industries Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 48285.12 Crore) operating in Apparels sector.

Page Industries Ltd. key Products/Revenue Segments include Innerwear & Leisurewear, Scrap & Others, Other Operating Revenue and Duty Drawback for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 1116.04 Crore, down -6.76 % from last quarter Total Income of Rs 1196.94 Crore and up 25.92 % from last year same quarter Total Income of Rs 886.32 Crore. Company reported net profit after tax of Rs 190.52 Crore in latest quarter.

Investment Rationale
Expect price hikes and operating leverage to offset RM inflation and higher marketing, leading to 21% EBITDA margins in Q1, within the targeted band of 20-22%

Promoter/FII Holdings
Promoters held 46.12 per cent stake in the company as of 30-Jun-2022, while FIIs owned 25.18 per cent, DIIs 18.2 per cent.