NSEI:PAGEIND

Stock Analysis Report

Executive Summary

Page Industries Limited manufactures, markets, and distributes garments and clothing accessories under the Jockey brand name.


Snowflake Analysis

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Page Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PAGEIND's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.7%

PAGEIND

-2.3%

IN Luxury

-2.9%

IN Market


1 Year Return

-34.1%

PAGEIND

-26.7%

IN Luxury

-29.3%

IN Market

Return vs Industry: PAGEIND underperformed the Indian Luxury industry which returned -26.7% over the past year.

Return vs Market: PAGEIND underperformed the Indian Market which returned -29.3% over the past year.


Shareholder returns

PAGEINDIndustryMarket
7 Day0.7%-2.3%-2.9%
30 Day-24.0%-26.9%-23.7%
90 Day-28.0%-26.0%-28.6%
1 Year-33.4%-34.1%-26.1%-26.7%-27.9%-29.3%
3 Year19.0%15.5%1.6%-0.9%-15.4%-20.0%
5 Year23.9%18.7%44.6%39.4%-3.3%-8.3%

Price Volatility Vs. Market

How volatile is Page Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Page Industries undervalued compared to its fair value and its price relative to the market?

48.5x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PAGEIND (₹16834.9) is trading above our estimate of fair value (₹3150.89)

Significantly Below Fair Value: PAGEIND is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PAGEIND is poor value based on its PE Ratio (48.5x) compared to the Luxury industry average (7.8x).

PE vs Market: PAGEIND is poor value based on its PE Ratio (48.5x) compared to the Indian market (9.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PAGEIND's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PAGEIND is overvalued based on its PB Ratio (22x) compared to the IN Luxury industry average (0.4x).


Next Steps

Future Growth

How is Page Industries forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.0%

Forecasted Consumer Durables industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Page Industries has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Page Industries performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAGEIND has high quality earnings.

Growing Profit Margin: PAGEIND's current net profit margins (12.9%) are lower than last year (14.5%).


Past Earnings Growth Analysis

Earnings Trend: PAGEIND's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: PAGEIND's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PAGEIND had negative earnings growth (-6.3%) over the past year, making it difficult to compare to the Luxury industry average (6.4%).


Return on Equity

High ROE: PAGEIND's Return on Equity (45.4%) is considered outstanding.


Next Steps

Financial Health

How is Page Industries's financial position?


Financial Position Analysis

Short Term Liabilities: PAGEIND's short term assets (₹10.2B) exceed its short term liabilities (₹5.1B).

Long Term Liabilities: PAGEIND's short term assets (₹10.2B) exceed its long term liabilities (₹1.5B).


Debt to Equity History and Analysis

Debt Level: PAGEIND's debt to equity ratio (3.6%) is considered satisfactory.

Reducing Debt: PAGEIND's debt to equity ratio has reduced from 25.5% to 3.6% over the past 5 years.

Debt Coverage: PAGEIND's debt is well covered by operating cash flow (850.6%).

Interest Coverage: PAGEIND's interest payments on its debt are well covered by EBIT (27.2x coverage).


Balance Sheet

Inventory Level: PAGEIND has a high level of physical assets or inventory.

Debt Coverage by Assets: PAGEIND's debt is covered by short term assets (assets are 33.6x debt).


Next Steps

Dividend

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

1.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PAGEIND's dividend (1.38%) is higher than the bottom 25% of dividend payers in the Indian market (0.95%).

High Dividend: PAGEIND's dividend (1.38%) is low compared to the top 25% of dividend payers in the Indian market (4.16%).


Stability and Growth of Payments

Stable Dividend: PAGEIND's dividends per share have been stable in the past 10 years.

Growing Dividend: PAGEIND's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.2%), PAGEIND's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Vedji Ticku (51yo)

4s

Tenure

₹50,240,000

Compensation

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 Opera ...


CEO Compensation Analysis

Compensation vs Market: Vedji's total compensation ($USD666.55K) is about average for companies of similar size in the Indian market ($USD740.60K).

Compensation vs Earnings: Vedji's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Vedji Ticku
CEO & Executive Director4yrs₹50.24m0.00044% 851.5k
Sunder Genomal
Founder25.33yrs₹19.12m16.1% 31.2b
K. Chandrasekar
Chief Financial Officer2yrs₹10.57mno data
V. Ganesh
Executive Director of Manufacturing & Operations and Director2.83yrs₹21.40mno data
C. Murugesh
Company Secretary & Compliance Officer6.92yrs₹3.35mno data
M. Cariappa
President of Sales & Marketing3.42yrsno datano data
Minor Ganesan
Sr. Vice President of Human Resources4.83yrsno datano data
Shamir Genomal
Deputy MD & Director5.75yrs₹14.03m0.0018% 3.5m
Shelagh Commons
Head of Product Development6yrsno datano data
Fatgieya Sabera
Product Head - Womens Wear2yrsno datano data

4.0yrs

Average Tenure

50yo

Average Age

Experienced Management: PAGEIND's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Vedji Ticku
CEO & Executive Director4yrs₹50.24m0.00044% 851.5k
Sunder Genomal
Founder25.33yrs₹19.12m16.1% 31.2b
V. Ganesh
Executive Director of Manufacturing & Operations and Director2.83yrs₹21.40mno data
Shamir Genomal
Deputy MD & Director5.75yrs₹14.03m0.0018% 3.5m
Bhoopalam Prabhakar
Independent Director7.5yrs₹870.00kno data
Ramesh Genomal
Non-Executive Director25.33yrsno data16.1% 31.2b
G. Albal
Independent Director13.42yrs₹880.00kno data
Timothy Wheeler
Non-Executive Director13.5yrs₹760.00kno data
Nari Genomal
Non-Executive Director15.33yrs₹40.00k16.1% 31.2b
Pradeep Jaipuria
Independent Chairman of the Board9yrs₹850.00kno data

11.2yrs

Average Tenure

64.5yo

Average Age

Experienced Board: PAGEIND's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Page Industries Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Page Industries Limited
  • Ticker: PAGEIND
  • Exchange: NSEI
  • Founded: 1994
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: ₹193.517b
  • Shares outstanding: 11.15m
  • Website: https://www.jockeyindia.com

Number of Employees


Location

  • Page Industries Limited
  • Tower-1, Cessna Business Park
  • 3rd Floor
  • Bengaluru
  • Karnataka
  • 560103
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
532827BSE (Mumbai Stock Exchange)YesEquity SharesININRMar 2007
PAGEINDNSEI (National Stock Exchange of India)YesEquity SharesININRMar 2007

Biography

Page Industries Limited manufactures, markets, and distributes garments and clothing accessories under the Jockey brand name. 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, water shorts, apparel, equipment, and footwear under the Speedo brand name. The company sells its products through 620 exclusive brand outlets (EBOs), large format stores (LFS), multi brand outlets (MBO), traditional hosiery stores, and multi-purpose stores in India, as well as through 4 EBOs in the United Arab Emirates and 2 EBOs in Sri Lanka. It also operates in Bangladesh, Nepal, the Sultanate of Oman, and Qatar. Page Industries Limited was founded in 1994 and is headquartered in Bengaluru, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 13:15
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.