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Page Industries

BSE:532827
Snowflake Description

Flawless balance sheet with outstanding track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
532827
BSE
₹237B
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

Page Industries Limited manufactures, markets, and distributes garments and clothing accessories under the Jockey brand name in India. The last earnings update was 8 days ago. More info.


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  • Page Industries has significant price volatility in the past 3 months.
532827 Share Price and Events
7 Day Returns
-2.3%
BSE:532827
-1.5%
IN Luxury
-0.1%
IN Market
1 Year Returns
-5.6%
BSE:532827
-8.5%
IN Luxury
-7.5%
IN Market
532827 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Page Industries (532827) -2.3% -5.8% -20.1% -5.6% 114.2% 265.4%
IN Luxury -1.5% -1.2% -2.7% -8.5% 54.7% 184.5%
IN Market -0.1% -3.2% -1.7% -7.5% 46.6% 79.6%
1 Year Return vs Industry and Market
  • 532827 outperformed the Luxury industry which returned -8.5% over the past year.
  • 532827 outperformed the Market in India which returned -7.5% over the past year.
Price Volatility
532827
Industry
5yr Volatility vs Market

Value

 Is Page Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Page Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Page Industries.

BSE:532827 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:532827
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.573 (1 + (1- 35%) (0.2%))
0.574
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 7.45%)
13.51%

Discounted Cash Flow Calculation for BSE:532827 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Page Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:532827 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 3,161.13 3,982.43 4,717.38 5,519.33 6,402.42
Source Analyst x8 Analyst x7 Analyst x8 Est @ 17%, capped from 17.79% Est @ 16%, capped from 17.79%
Present Value
Discounted (@ 13.51%)
2,784.89 3,090.86 3,225.51 3,324.68 3,397.61
Present value of next 5 years cash flows ₹15,823.55
BSE:532827 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹6,402.42 × (1 + 7.55%) ÷ (13.51% – 7.55%)
₹115,533.63
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹115,533.63 ÷ (1 + 13.51%)5
₹61,310.91
BSE:532827 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹15,823.55 + ₹61,310.91
₹77,134.46
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹77,134.46 / 11.15
₹6979.07
BSE:532827 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BSE:532827 represents 1.00919x of NSEI:PAGEIND
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00919x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 6,915.49 x 1.00919
₹6,979.07
Value per share (INR) From above. ₹6,979.07
Current discount Discount to share price of ₹21,477.90
= -1 x (₹21,477.90 - ₹6,979.07) / ₹6,979.07
-207.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Page Industries is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Page Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Page Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:532827 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹370.44
NSEI:PAGEIND Share Price ** NSEI (2019-02-22) in INR ₹21282.15
India Luxury Industry PE Ratio Median Figure of 236 Publicly-Listed Luxury Companies 11.68x
India Market PE Ratio Median Figure of 2,709 Publicly-Listed Companies 15.3x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Page Industries.

BSE:532827 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:PAGEIND Share Price ÷ EPS (both in INR)

= 21282.15 ÷ 370.44

57.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Page Industries is overvalued based on earnings compared to the IN Luxury industry average.
  • Page Industries is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Page Industries's expected growth come at a high price?
Raw Data
BSE:532827 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 57.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
19.7%per year
India Luxury Industry PEG Ratio Median Figure of 27 Publicly-Listed Luxury Companies 0.97x
India Market PEG Ratio Median Figure of 604 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

BSE:532827 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 57.45x ÷ 19.7%

2.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Page Industries is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Page Industries's assets?
Raw Data
BSE:532827 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹838.42
NSEI:PAGEIND Share Price * NSEI (2019-02-22) in INR ₹21282.15
India Luxury Industry PB Ratio Median Figure of 306 Publicly-Listed Luxury Companies 0.71x
India Market PB Ratio Median Figure of 3,588 Publicly-Listed Companies 1.04x
BSE:532827 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:PAGEIND Share Price ÷ Book Value per Share (both in INR)

= 21282.15 ÷ 838.42

25.38x

* Primary Listing of Page Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Page Industries is overvalued based on assets compared to the IN Luxury industry average.
X
Value checks
We assess Page Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Page Industries has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Page Industries expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Page Industries expected to grow at an attractive rate?
  • Page Industries's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Page Industries's earnings growth is expected to exceed the India market average.
  • Page Industries's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:532827 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:532827 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 19.7%
BSE:532827 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 17.5%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 15%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:532827 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:532827 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 41,502 5,419 6,268 11
2020-03-31 35,021 4,496 5,141 13
2019-03-31 29,642 3,793 4,297 11
BSE:532827 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 28,527 4,132
2018-09-30 27,354 3,947
2018-06-30 26,704 3,861
2018-03-31 25,514 4,546 3,470
2017-12-31 24,419 3,195
2017-09-30 23,491 2,990
2017-06-30 22,578 2,836
2017-03-31 21,285 2,736 2,663
2016-12-31 20,596 2,573
2016-09-30 19,780 2,464
2016-06-30 19,064 2,380
2016-03-31 17,956 2,192 2,315

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Page Industries's earnings are expected to grow by 19.7% yearly, however this is not considered high growth (20% yearly).
  • Page Industries's revenue is expected to grow by 17.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:532827 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Page Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532827 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 561.73 600.80 524.10 9.00
2020-03-31 460.80 498.10 429.70 11.00
2019-03-31 385.85 397.30 378.10 11.00
BSE:532827 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 370.44
2018-09-30 353.86
2018-06-30 346.17
2018-03-31 311.08
2017-12-31 286.47
2017-09-30 268.07
2017-06-30 254.29
2017-03-31 238.73
2016-12-31 230.69
2016-09-30 220.95
2016-06-30 213.36
2016-03-31 207.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Page Industries is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Page Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Page Industries has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Page Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Page Industries's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Page Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Page Industries's 1-year earnings growth exceeds its 5-year average (29.3% vs 19.9%)
  • Page Industries's earnings growth has exceeded the IN Luxury industry average in the past year (29.3% vs 14.1%).
Earnings and Revenue History
Page Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Page Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:532827 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 28,527.36 4,131.82 5,756.63
2018-09-30 27,354.50 3,946.87 5,591.62
2018-06-30 26,703.99 3,861.14 5,473.07
2018-03-31 25,513.69 3,469.76 5,405.01
2017-12-31 24,418.92 3,195.38 5,312.11
2017-09-30 23,491.17 2,990.22 5,265.35
2017-06-30 22,577.98 2,836.35 3,920.81
2017-03-31 21,285.34 2,662.82 4,978.12
2016-12-31 20,595.96 2,573.00 4,551.24
2016-09-30 19,779.66 2,464.32 4,441.48
2016-06-30 19,064.49 2,379.76 4,248.05
2016-03-31 17,955.99 2,315.19 4,106.98
2015-12-31 17,260.64 2,225.12 4,245.20
2015-09-30 16,695.90 2,153.04 4,050.16
2015-06-30 16,034.09 2,049.10 3,963.10
2015-03-31 15,434.40 1,960.24 3,528.90
2014-12-31 14,247.40 1,840.27 3,407.58
2014-09-30 13,493.48 1,739.47 3,245.17
2014-06-30 12,472.63 1,649.74 3,061.95
2014-03-31 11,876.84 1,537.84 2,877.92
2013-12-31 11,032.57 1,422.60 2,520.87
2013-09-30 10,169.17 1,330.50 2,396.41
2013-06-30 9,494.45 1,228.75 2,245.68
2013-03-31 8,634.64 1,125.33 2,170.26
2012-12-31 8,086.90 1,059.87 1,902.25
2012-09-30 7,646.26 1,004.80 1,811.86
2012-06-30 7,251.13 950.59 1,759.97
2012-03-31 6,834.09 899.85 1,705.98

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Page Industries made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Page Industries used its assets more efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Page Industries has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Page Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Page Industries has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Page Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Page Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Page Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Page Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Page Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 24.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Page Industries Company Filings, last reported 1 month ago.

BSE:532827 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 9,351.19 479.49 3,679.93
2018-09-30 9,351.19 479.49 3,679.93
2018-06-30 8,473.00 685.46 2,849.08
2018-03-31 8,473.00 685.46 2,849.08
2017-12-31 7,659.02 441.35 2,713.78
2017-09-30 7,659.02 441.35 2,713.78
2017-06-30 6,657.80 672.67 791.78
2017-03-31 6,657.81 876.81 726.86
2016-12-31 6,037.01 639.78 1,509.11
2016-09-30 6,037.01 639.78 1,509.11
2016-06-30 5,052.28 948.94 86.46
2016-03-31 5,298.70 948.95 86.46
2015-12-31 4,564.58 563.79 67.91
2015-09-30 4,564.58 563.79 67.91
2015-06-30 3,867.62 1,572.80 44.18
2015-03-31 3,867.62 1,572.80 44.18
2014-12-31 3,457.88 876.22 37.07
2014-09-30 3,457.88 876.22 37.07
2014-06-30 2,890.02 1,632.19 34.62
2014-03-31 2,890.02 1,632.19 34.62
2013-12-31 2,597.04 724.72 33.73
2013-09-30 2,597.04 724.72 33.73
2013-06-30 2,135.15 1,006.91 55.50
2013-03-31 2,135.15 1,006.91 55.50
2012-12-31 2,163.51 552.28 70.38
2012-09-30 2,163.51 552.28 70.38
2012-06-30 1,657.98 758.91 31.23
2012-03-31 1,657.98 758.91 31.23
  • Page Industries's level of debt (5.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (28.3% vs 5.1% today).
  • Debt is well covered by operating cash flow (948%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 53.7x coverage).
X
Financial health checks
We assess Page Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Page Industries has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Page Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.77%
Current annual income from Page Industries dividends. Estimated to be 1.15% next year.
If you bought ₹2,000 of Page Industries shares you are expected to receive ₹15 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Page Industries's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.56%).
  • Page Industries's dividend is below the markets top 25% of dividend payers in India (2.08%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:532827 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
India Luxury Industry Average Dividend Yield Market Cap Weighted Average of 109 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:532827 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 252.59 8.00
2020-03-31 209.30 9.00
2019-03-31 275.64 9.00
BSE:532827 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-02-14 164.000 0.750
2018-11-14 164.000 0.675
2018-08-09 164.000 0.523
2018-05-25 140.000 0.512
2017-05-25 97.000 0.487
2016-07-08 85.000 0.593
2016-05-24 85.000 0.620
2015-07-17 80.000 0.624
2015-07-16 75.000 0.502
2015-05-28 75.000 0.500
2015-02-12 72.000 0.540
2014-11-10 72.000 0.663
2014-06-06 64.000 0.839
2014-05-29 64.000 1.029
2014-02-12 60.000 1.007
2013-11-14 60.000 1.136
2013-05-30 50.000 1.160
2012-11-08 48.000 1.386
2012-05-30 37.000 1.198
2012-02-09 40.000 1.443
2011-11-11 48.000 1.913
2011-07-15 26.000 1.060
2011-05-27 26.000 1.448
2010-06-02 21.000 1.596
2010-05-28 21.000 2.524
2009-12-31 21.000 2.542
2009-06-15 17.000 2.673
2009-06-01 17.000 3.626
2009-02-24 16.000 4.053

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Page Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Page Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Page Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Page Industries has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Page Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vedji Ticku
COMPENSATION ₹41,740,000
AGE 50
TENURE AS CEO 3 years
CEO Bio

Mr. Vedji Ticku, B.E. (Mech), has been Chief Executive Officer of Page Industries Limited since February 12, 2016 and has been its Executive Director since May 25, 2017. Mr. Ticku served as the Chief Operating Officer of Page Industries Limited. He has more than 25 years of experience in the field of Sales, Marketing, General Administration and Corporate Affairs. Mr. Ticku served as the General Manager of Sales & Marketing at Page Industries Limited and also served as its General Manager of Sales. He has been with Page Industries Ltd. since May 1997 and has 14 years of experience. He joined Page Industries Ltd. as Regional Sales Manager for South Zone. After setting up the business successfully in South, he was promoted as Senior Sales Manager, with additional charge of North Zone in the year 2001. He was working with Eureka Forbes Limited. He is a Bachelor of Engineering (Mechanical).

CEO Compensation
  • Vedji's compensation has been consistent with company performance over the past year.
  • Vedji's remuneration is about average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Page Industries management team in years:

3.4
Average Tenure
49
Average Age
  • The tenure for the Page Industries management team is about average.
Management Team

Vedji Ticku

TITLE
CEO & Executive Director
COMPENSATION
₹42M
AGE
50
TENURE
3 yrs

Sunder Genomal

TITLE
Founder
COMPENSATION
₹18M
AGE
64

K. Chandrasekar

TITLE
Chief Financial Officer
COMPENSATION
₹13M
AGE
55
TENURE
1 yrs

V. Ganesh

TITLE
Executive Director of Manufacturing & Operations and Director
COMPENSATION
₹18M
AGE
50
TENURE
1.8 yrs

C. Murugesh

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹3M
TENURE
5.8 yrs

M. Cariappa

TITLE
President of Sales & Marketing
AGE
48
TENURE
2.3 yrs

Minor Ganesan

TITLE
Vice President of Human Resources
AGE
47
TENURE
3.8 yrs

Shamir Genomal

TITLE
Deputy MD & Director
COMPENSATION
₹12M
AGE
34
TENURE
4.7 yrs

Shelagh Commons

TITLE
Head of Product Development
AGE
47
TENURE
4.9 yrs
Board of Directors Tenure

Average tenure and age of the Page Industries board of directors in years:

10.2
Average Tenure
63
Average Age
  • The average tenure for the Page Industries board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Pradeep Jaipuria

TITLE
Chairman of the Board
COMPENSATION
₹670K
AGE
66
TENURE
8 yrs

Vedji Ticku

TITLE
CEO & Executive Director
COMPENSATION
₹42M
AGE
50
TENURE
1.8 yrs

Sunder Genomal

TITLE
Founder
COMPENSATION
₹18M
AGE
64
TENURE
24.3 yrs

V. Ganesh

TITLE
Executive Director of Manufacturing & Operations and Director
COMPENSATION
₹18M
AGE
50
TENURE
1.8 yrs

Shamir Genomal

TITLE
Deputy MD & Director
COMPENSATION
₹12M
AGE
34
TENURE
4.7 yrs

G. Albal

TITLE
Independent Director
COMPENSATION
₹750K
AGE
63
TENURE
12.3 yrs

Sandeep Maini

TITLE
Independent Director
COMPENSATION
₹640K
AGE
51
TENURE
3.8 yrs

Ramesh Genomal

TITLE
Non-Executive Director
COMPENSATION
₹30K
AGE
66
TENURE
24.3 yrs

Timothy Wheeler

TITLE
Non-Executive Director
COMPENSATION
₹610K
AGE
63
TENURE
12.4 yrs

Nari Genomal

TITLE
Non-Executive Director
COMPENSATION
₹50K
AGE
76
TENURE
14.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
27. Aug 18 Sell Nari Genomal Individual 23. Aug 18 27. Aug 18 -6,197 ₹34,675.65 ₹-214,884,980
27. Aug 18 Sell Ramesh Genomal Individual 23. Aug 18 27. Aug 18 -5,729 ₹34,679.27 ₹-198,677,521
27. Aug 18 Sell Sunder Genomal Individual 23. Aug 18 27. Aug 18 -5,000 ₹34,683.58 ₹-173,417,883
21. Aug 18 Sell Nari Genomal Individual 17. Aug 18 17. Aug 18 -2,006 ₹33,569.24 ₹-67,339,889
21. Aug 18 Sell Ramesh Genomal Individual 17. Aug 18 17. Aug 18 -2,010 ₹33,569.74 ₹-67,475,180
21. Aug 18 Sell Sunder Genomal Individual 17. Aug 18 17. Aug 18 -2,007 ₹33,569.20 ₹-67,373,390
21. Aug 18 Sell Nari Genomal Individual 17. Aug 18 17. Aug 18 -2,006 ₹33,569.24 ₹-67,339,889
17. Aug 18 Sell Nari Genomal Individual 14. Aug 18 16. Aug 18 -2,994 ₹33,664.33 ₹-100,790,989
17. Aug 18 Sell Ramesh Genomal Individual 14. Aug 18 16. Aug 18 -2,990 ₹33,665.82 ₹-100,660,799
17. Aug 18 Sell Sunder Genomal Individual 14. Aug 18 16. Aug 18 -2,993 ₹33,664.65 ₹-100,758,306
30. Jul 18 Sell Nari Genomal Individual 30. Jul 18 30. Jul 18 -1,271 ₹29,230.52 ₹-37,151,990
30. Jul 18 Sell Ramesh Genomal Individual 30. Jul 18 30. Jul 18 -1,242 ₹29,229.78 ₹-36,303,391
30. Jul 18 Sell Sunder Genomal Individual 30. Jul 18 30. Jul 18 -1,356 ₹29,231.30 ₹-39,637,642
27. Jul 18 Sell Nari Genomal Individual 26. Jul 18 26. Jul 18 -83 ₹28,657.11 ₹-2,378,540
27. Jul 18 Sell Ramesh Genomal Individual 26. Jul 18 27. Jul 18 -7,068 ₹29,019.73 ₹-203,310,299
27. Jul 18 Sell Nari Genomal Individual 26. Jul 18 27. Jul 18 -7,068 ₹29,026.41 ₹-203,358,774
27. Jul 18 Sell Sunder Genomal Individual 26. Jul 18 27. Jul 18 -7,388 ₹29,074.52 ₹-212,749,210
26. Jul 18 Sell Nari Genomal Individual 23. Jul 18 25. Jul 18 -2,447 ₹28,560.00 ₹-69,649,510
26. Jul 18 Sell Ramesh Genomal Individual 23. Jul 18 25. Jul 18 -2,434 ₹28,560.00 ₹-69,279,158
26. Jul 18 Sell Sunder Genomal Individual 23. Jul 18 25. Jul 18 -2,385 ₹28,540.00 ₹-67,882,793
20. Jul 18 Sell Ramesh Genomal Individual 17. Jul 18 18. Jul 18 -1,084 ₹28,778.80 ₹-31,179,863
20. Jul 18 Sell Nari Genomal Individual 17. Jul 18 20. Jul 18 -1,433 ₹28,873.27 ₹-41,265,749
20. Jul 18 Sell Ramesh Genomal Individual 17. Jul 18 20. Jul 18 -1,337 ₹28,873.28 ₹-38,495,174
20. Jul 18 Sell Sunder Genomal Individual 17. Jul 18 20. Jul 18 -1,392 ₹28,873.27 ₹-40,070,720
16. Jul 18 Sell Nari Genomal Individual 11. Jul 18 13. Jul 18 -2,796 ₹28,750.36 ₹-79,422,772
16. Jul 18 Sell Ramesh Genomal Individual 11. Jul 18 13. Jul 18 -2,819 ₹28,750.36 ₹-80,079,341
16. Jul 18 Sell Sunder Genomal Individual 11. Jul 18 13. Jul 18 -2,835 ₹28,750.36 ₹-80,571,441
X
Management checks
We assess Page Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Page Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What You Must Know About Page Industries Limited's (BOM:532827) ROE

and want to better understand how you can grow your money by investing in Page Industries Limited (BOM:532827). … Page Industries Limited (BOM:532827) delivered an ROE of 40.95% over the past 12 months, which is an impressive feat relative to its industry average of 7.50% during the same period. … Return on Equity (ROE) is a measure of Page Industries’s profit relative to its shareholders’ equity.

Simply Wall St -

Top 3 Growth Stocks For The Month

Stocks such as Page Industries and Axis Bank are considered to be high growth in terms of how much they’re expected to earn and return to shareholders, according to the market. … 532827’s projected future profit growth is a robust 22.41%, with an underlying 50.13% growth from its revenues expected over the upcoming years. … BSE:508989 Future Profit May 21st 18 For more financially robust companies with high growth potential to enhance your portfolio, explore this interactive list of fast growing companies.

Simply Wall St -

High Growth BSE Stocks

532827’s projected future profit growth is a robust 22.22%, with an underlying 50.49% growth from its revenues expected over the upcoming years. … 530549’s projected future profit growth is a robust 41.80%, with an underlying 58.91% growth from its revenues expected over the upcoming years. … BSE:533273 Future Profit Mar 19th 18 For more financially robust companies with high growth potential to enhance your portfolio, explore this interactive list of fast growing companies.

Simply Wall St -

Company Info

Map
Description

Page Industries Limited manufactures, markets, and distributes garments and clothing accessories under the Jockey brand name in India. It offers inner T-shirts, vests, briefs, trunks, shorts, boxer shorts, jackets, tank tops, and polo T-shirts, as well as lounge, track, and long pants; casual, formal, and sport socks; and face, hand, and bath towels for men. It also provides bras, panties, camisoles and tops, T-shirts, shapewear, tank tops, 3 by 4 sleeved vests, leggings, and casual socks, as well as capri, lounge, and track pants for women; and short and long sleeve vests, long John, briefs, vests, trunks, boxer shorts, T-shirts, shorts, and track pants for kids. In addition, the company provides swimwear under the Speedo brand name. The company sells its products through 470 exclusive brand outlets (EBOs), large format stores (LFS), multi brand outlets (MBO), traditional hosiery stores, and multi-purpose stores, as well as through 5 EBOs in the United Arab Emirates and 2 EBOs in Sri Lanka. It also exports its products to Sri Lanka, Nepal, and the United Arab Emirates. Page Industries Limited was founded in 1994 and is headquartered in Bengaluru, India.

Details
Name: Page Industries Limited
532827
Exchange: BSE
Founded: 1994
₹237,378,419,549
11,153,874
Website: http://www.jockeyindia.com
Address: Page Industries Limited
Tower-1, Cessna Business Park,
3rd Floor,
Bengaluru,
Karnataka, 560103,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI PAGEIND Equity Shares National Stock Exchange of India IN INR 16. Mar 2007
BSE 532827 Equity Shares Mumbai Stock Exchange IN INR 16. Mar 2007
Number of employees
Current staff
Staff numbers
18,801
Page Industries employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/22 12:49
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2019/02/20
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.