- Page Industries shares fell 10% to Rs 32,915, hitting the lower circuit
- The stock faced sharp sell-off in final minutes after steady trading earlier
- Previous session's close was Rs 36,570, showing a significant drop today
Page Industries shares plunged 10% to Rs 32,915 on Thursday, hitting the lower circuit. The stock witnessed a sharp sell-off in the final minutes of trading after remaining relatively stable through most of the session. It had closed at Rs 36,570 in the previous session.
The stock's intraday high stood at Rs 37,185, while its low matched the lower circuit level. The sudden decline erased a significant portion of its recent market value, taking its market capitalisation to approximately Rs 36,710 crore.
Page Industries reported an 11.5% year-on-year increase in consolidated revenue to Rs 1,439.6 crore in Q2 FY27. Revenue stood at Rs 1,291 crore in the corresponding quarter last year.
However, net profit grew at a slower pace of 3.8% to Rs 202.5 crore, compared with Rs 195 crore a year earlier. The gap between revenue and profit growth highlighted pressure on the company's ability to convert higher sales into earnings.
Operating performance also remained under pressure. EBITDA increased 7.4% year-on-year to Rs 300.2 crore from Rs 279.6 crore in the year-ago quarter.
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More importantly, EBITDA margin contracted 80 basis points to 20.8% from 21.6% in the corresponding period last year. The decline indicates that operating costs weighed on profitability despite stronger revenue.
The market reaction suggests investors were disappointed with the quality of earnings growth. While sales expanded at a healthy pace, profit growth failed to keep up. Margin compression further weakened the quarterly performance.
At Rs 32,915, Page Industries shares were also trading well below their 52-week high of Rs 43,855. The stock's sharp decline puts the spotlight on whether the company can restore operating margins in the coming quarters.
Also Read | Dividend Alert: Page Industries Announces Second Interim Dividend Of Rs 150 Per Share
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