What should investors do with Page Industries shares? Here's what brokerages suggest

Page Industries Q4 results, Page Industries share price today NSE, Page Industries share price target: Page Industries shares were in focus on Friday, May 24, a day after Bengaluru-headquartered Page Industries, which owns the popular innerwear brand Jockey posted its Q4 earnings report. The stock closed flat at Rs 35,600, up 0.05 per cent on NSE. 

Page Industries Q4 results 2024

Page Industries posted a consolidated net profit of Rs 108.2 crore for the January-March period, up 38.1 per cent on a year-on-year basis. Page Industries' revenue for the March quarter grew 3.2 per cent to Rs 995.4 crore, aided by sales volume growth of 6.1 per cent.

Zee Business research analysts had expected the innerwear and loungewear company to register a consolidated net profit of Rs 144 crore and revenue of Rs 1110 crore for the fiscal fourth quarter.

EBITDA at the company also logged an improvement and registered 24.5 per cent on-year growth to Rs 167.2 crore. The impact of investments in digital transformation and marketing initiatives was largely balanced by favourable input costs and operational expenses optimisation, said the company in its filing with the exchanges. Read more on Page Industries Q4 results

Page Industries share price target: Buy, sell or hold?

Citi has maintained a sell call on Page Industries. However, the brokerage has raised the target to Rs 32,100 apiece from Rs 31,300 earlier. "Q4, a miss on all fronts and lacked growth catalyst," said the brokerage in its note. The analysts at the brokerage expect the revenue growth momentum to remain subdued. According to the brokerage, a higher base of athleisure and likely aggression in accessories will also drive adverse product mix & lower average realization year-on-year.

In addition, Morgan Stanley has maintained an overweight rating on Page Industries. The brokerage has trimmed the target to Rs 41,222 from Rs 42,962. Meanwhile, Macquarie has retained an underperform call with a target of Rs 30,000 per share. 

Outlook

On the outlook for the industry, the company's release stated that it remains positive, driven by advances in fabric technology and a growing trend towards health-conscious and active lifestyles. Over the next decade, we expect significant growth in the athleisure market, This shift towards high-quality, functional apparel is set to enhance consumer engagement and drive demand in both urban and rural markets.

Page Industries dividend 2024

Page Industries declared the fourth interim dividend for the fiscal year 2023-24, amounting to Rs 120 per share. For the same, the stock shall trade ex-dividend on May 31 i.e stock's price will adjust considering the dividend announcement on the ex-dividend date.

Page Industries dividend history 

The company had declared 3 interim dividends, amounting to Rs 100, Rs 75 and Rs 75 per share each for the FY ended 2024.

(With PTI inputs)

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