Top Stock Pick For 2025 - 'Buy' Page Industries For An Upside Of 20% Says Motilal Oswal; Here's Why

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Page Industries Ltd. has had a robust track record of revenue and earnings growth over the past decade. For the period ended FY24, its sales/Ebitda/PAT posted a 15%/13%/15% CAGR despite headwinds.

Earnings growth was fueled by best-ofbreed sales growth, with lower utilization of the margin lever. Moreover, it has delivered a RoE of over 40% in the last 10 years.

The women’s innerwear and athleisure segments still have several white spaces in their product portfolio. We expect Page’s management to fill these portfolio gaps. Digital and marketing efforts will be helpful to gain share for these segments.

The company maintains a healthy dividend payout ratio. An excellent track record, strong earnings growth potential (~20% EPS CAGR over FY24-FY27E), and high ROEs of over 40% are a great combination and deserve high multiples.

We reiterate our Buy rating on the stock with a target price of Rs 57,500, premised on 65 times Mar’27E EPS (10-year and five-year average P/E at 65x-70x).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.