Shares of Page Industries in Friday's trade galloped to a new 52-week high of Rs 47,500.1 apiece after the famour Jockey brand-owner posted its Q2 earnings after Q2 earnings after market hours on Thursday.

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At the last count at around 11 am, shares traded higher by nearly 5 per cent at Rs 47,288.3 per share, up Rs 2182.8 per share.

For the September quarter, the company's revenue edged higher by 11 per cent on-year to Rs 1,246 crore. Likewise, on improved operational efficiency PAT grew 29.9 per cent year-on-year (YoY) to Rs 195.3 crore.

Sales volume at the company grew 6.7 per cent, amounting to 5.5 crore pieces.

On the operational front, EBITDA was Rs 281.5 crore, a 22 per cent growth with margins at 22.6 per cent.  Stable input costs and improved operating efficiency contributed to significant growth in operating profit, added the company's release.

V.S. Ganesh, Managing Director, Page Industries Limited said, "Our operating margins remain strong, thanks to our focus on operational efficiencies, cost control, and strategic sourcing initiatives. We are committed to investing in future growth, and our digital transformation initiatives are progressing well, promising substantial operational benefits in the coming years. The dynamic eCommerce landscape has driven exciting growth, bolstered by our prior investments and meticulous preparations."

With the festive season on the horizon, we anticipate a surge in consumer demand and are perfectly positioned to capitalize on these opportunities, he added.

Global brokerages take on Page Industries post Q2 show

CIti remains bearish on the stock and has continued with its 'sell' call with a raised target of Rs 35,800 from the earlier Rs 33,100. The brokerage sees as much as 21 per cent potential downside for the stock. The brokerage underscored that cost control measure at the company led to EBITDA/PAT growth of 21 per cent/30 per cent year-on-year.

This is even though, volume growth at the innerwear and altheisure manufacture has been lower at 6.7 per cent as against Citi's estimates of 8 per cent. Also, the brokerage remains cautious with no near-time catalyst also as there is seen no major improvement in consumer sentiment.

Morgan Stanley, however, continued with its 'overweight' call on the stock with the target pegged at Rs 45,400 per share.

Macquarie, meanwhile continued with its 'underperform' call on the stock with the scrip of Rs 36,000 apiece.