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    Page Industries: Has the innerwear giant’s growth journey resumed?

    With operating leverage and improving efficiency measures, Page Industries is confident of maintaining the historical average margins of 21-22 percent

    Bharat Gianani
    February 15, 2021 / 04:35 PM IST
    Page Industries: Has the innerwear giant’s growth journey resumed?

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Page Industries Limited (Page) (CMP: Rs 30,670 Market cap: Rs 34,209 crore) posted better-than-expected Q3 results with the company returning to a strong double-digit growth trajectory after a gap of four to five quarters. Healthy volume growth due to further opening up of the network, price hikes coupled with margin improvement due to better mix and cost control boosted earnings. With management focus on gaining foothold in the rural areas, strong outlook for athleisure segment and new growth avenues...

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