Page Industries Q3 Results Review - Margins Expected To Improve: Dolat Capital

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. .Dolat Capital Report.Page Industries Ltd.’ Q3 FY23 results were below our estimates. Delayed winter, inventory rationalisation and general slowdown impacted sales growth during the quarter. Page Industries reported 11% volume de-growth – registered three-year volume compound annual growth rate of 7%. As most of the high cost inventory is cleared during the quarter, we believe that the margins would start improving here on. In addition, cold winter during Q4 is expected to augment thermal sales during the quarter. Page Industries has reported sales drop in line with the other categories. We believe that the slowdown in innerwear category is temporary and being more necessary than discretionary, should revamp over two-three quarters. We have significantly reduced our FY23E earning per share estimates to Rs 545 to factor in Q3 performance, sharp fall in margins and short term headwinds. However, we have broadly maintained our FY24/25E estimates as we believe that the company would improve performance with its strong brand and outpace the industry..Click on the attachment to read the full report:.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 Q3 Results Review - Margins Expected To Improve: Dolat Capital

We believe that the company would improve performance with its strong brand and outpace the industry.

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