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PAGEIND Share Price Target
Page Industries Ltd.
Sector: Textiles
Sector: Textiles
PAGEIND Share Price *
19,824 +409.9 (2.11%)
* (quote may be delayed)
PAGEIND Share Price Forecast - Consensus
| No. of reports in last year | 6 |
| No. of analysts | 4 |
| Average Consensus Forecast | 27036.67 |
| Consensus Potential | 25.25% |
PAGEIND Share Price Target - Broker Reports - 2019
ICICIdirect.com
9-Aug-19
Price @ Call: 17726.85
Target: 18050
HOLD
Despite weak revenue growth, the company managed to improve its working capital cycle (6.3x in Q1FY20 vs. 6.0 in Q4FY19) in Q1FY20. Driven by higher focus on product quality & innovation, coupled with enhancement of distribution reach, the management believes that Page could benefit from the improvement in the market scenario as and when the same materialises. However, we expect near term pressure to persist. We revise our estimates downwards and expect revenue and earnings to grow at a CAGR of 10% and 12% respectively. We reiterate our HOLD rating on the stock, with a revised target price of | 18050 (41.0x FY21E EPS) (earlier TP: | 19000).
JM Financial
18-Apr-19
Price @ Call: 23877.63
Target: 26850
BUY
Motilal Oswal
15-Feb-19
Price @ Call: 23964.5
Target: 25755
NEUTRAL
Outperformance on most fronts. Valuation and view: There is no material change in our EPS forecasts. Volume growth for the quarter was in double-digits, led by the festive season mismatch, which impacted PAG in 2QFY19, but worked in its favor in 3QFY19. In our view, PAG remains a compelling investment case in the Indian consumer space, with potentially better earnings growth compared to peers and healthy RoCEs. The special dividend (INR180 per share YTD so far) is also encouraging and not unexpected given the ongoing balance sheet improvement. Nevertheless, volume growth has tapered off from the earlier levels and competition is intensifying in the men’s innerwear space. Valuations at 50.8x FY20E EPS leave little room for upside from a one-year perspective. Valuations are at premium levels, despite assuming a healthy 22.6% EPS CAGR over FY18- 21. We maintain Neutral with a target price of INR25,755 (47x Dec’20E EPS, ~20% discount to three-year average).
Dolat Capital
15-Feb-19
Price @ Call: 23964.5
Target: 30030
BUY
Volume growth back on track. Page Industries’ reported ~12% volume growth – strong recovery after reporting flat volume growth in Q2. The growth was impressive considering strong base of 11% and increased competition in the category. We attribute this to shift in festive season which resulted in pent up demand during the quarter. The operational performance during the quarter came ahead of our estimate primarily due to 150bps expansion in GM. We continue to believe that with the changing economy, branded innerwear market would continue to report double-digit volume growth and Page will enhance the most, being a leader in the category. We do not see price pass on as a challenge during inflationary environment as the company has robust brand recognition in the premium category. Though the company is likely to mitigate the competition with strong brand positioning, ongoing innovations, increasing number of stores and wide distribution reach, we believe that the monopoly of the company has come to an end in the category. Consequently, we believe that the historical P/E multiple would not sustain. Hence we have revised our target multiple to 50x (in line with HUL vs 20% premium earlier). Considering recent price correction, we view the stock as an attractive investment opportunity at CMP. Maintain BUY with TP of ` 30,030.
PAGEIND Share Price Target - Broker Reports - 2018
Motilal Oswal
30-Nov-18
Price @ Call: 25822.28
Target: 26535
NEUTRAL
Dolat Capital
16-Nov-18
Price @ Call: 25532.55
Target: 35000
BUY
Dolat Capital
9-Aug-18
Price @ Call: 30254.05
Target: 35000
BUY
Motilal Oswal
1-Aug-18
Price @ Call: 29106.6
Target: 33460
BUY
Motilal Oswal
25-May-18
Price @ Call: 24371.93
Target: 28200
BUY
Motilal Oswal
23-Feb-18
Price @ Call: 22629.43
Target: 27490
BUY
Motilal Oswal
9-Feb-18
Price @ Call: 20644.3
Target: 28270
BUY
PAGEIND Share Price Target - Broker Reports - 2017
Cholamandalam Securities
22-Nov-17
Price @ Call: 22981.25
Target: 15316
SELL
Motilal Oswal
10-Nov-17
Price @ Call: 22314.3
Target: 25580
BUY
IIFL
21-Aug-17
Price @ Call: 17025
Target: 18000
ADD
Motilal Oswal
11-Aug-17
Price @ Call: 16215.85
Target: 19600
BUY
Dolat Capital
14-Jul-17
Price @ Call: 16798
Target: 17860
BUY
ICICIdirect.com
26-May-17
Price @ Call: 14330
Target: 12500
SELL
Axis Direct
15-Feb-17
Price @ Call: 14223
Target: 15700
BUY
Kotak Securities
10-Feb-17
Price @ Call: 14423.7
Target: 13000
SELL
ICICIdirect.com
10-Feb-17
Price @ Call: 14440
Target: 12000
SELL
PAGEIND Share Price Target - Broker Reports - 2016
ICICIdirect.com
15-Nov-16
Price @ Call: 13400
Target: 12000
SELL
Motilal Oswal
12-Aug-16
Price @ Call: 14272
Target: 16930
BUY
Motilal Oswal
25-May-16
Price @ Call: 13126
Target: 15000
BUY