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Hold Page Industries; target of Rs 52680: ICICI Direct

ICICI Direct recommended hold rating on Page Industries with a target price of Rs 52680 in its research report dated August 12, 2022.

August 14, 2022 / 11:15 AM 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 113715+ MBOs and 1144+ EBOs. It sold ~ 190 million pieces in FY22. Strong backward integration facilities having capacity of 250 million pieces • Robust business model generating 66%+ 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 52680 i.e. 66x FY24E EPS.


For all recommendations report, click here

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first published: Aug 14, 2022 11:09 am
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