Page Industries Q2 Results Review - Demand, Competition Headwinds Delay Demand Recovery: Systematix

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Research Report.The innerwear market continues to have robust long-term potential, with penetration of ~18% in men’s wear, 5-6% in women’s wear, 6-8% in athleisure and 2% in kidswear. Despite near-term headwinds which has reduced the pace of capacity expansion, Page Industries Ltd. remains positive on the long-term outlook and continues to work on expanding capacity and expanding its product portfolio, while ramping up its distribution reach. We estimate 10%/17% revenue/earnings per share compound annual growth rate over FY23-25E, and maintain our 'Hold' rating on the stock, with a target price of Rs 38,700 based on 55 times FY25E earnings. Despite strong growth prospects over the long-term and consistent execution from Page Industries' management, we believe earnings delivery will remain soft in the near-term, given soft demand and competition headwinds with the industry stuck with high inventory. We therefore suggest waiting for some tangible signs of an improvement in demand conditions before entering the stock. Unexpected issues arising from attrition in management and distribution, increasing competition from private labels and/or consumer downtrading due to inflation could pose downside risks to our estimates..Click on the attachment to read the full report:.Bata Q2 Results Review - Recovery Expected Ahead Of Festive Season; Maintain 'Accumulate': Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Page Industries Q2 Results Review - Demand, Competition Headwinds Delay Demand Recovery: Systematix

Margin improvement provides some solace

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP