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Page Industries Ltd.

•
jockey.inBSE: 532827NSE: PAGEIND
Market Cap₹ 39,329 Cr.
Current Price
High / Low₹ 45,890 / 29,805
Stock P/E52.0
Book Value₹ 1,520
Price to Book23.65
Dividend Yield1.56 %
ROCE73.6 %
ROE52.5 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Innerwear & leisurewear: 98.9% • Others: 1.1%

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence
50%
View full sector analysis →

PROS

  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 63.9%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 46.5%
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.49x)
  • Operating margins have improved to 20.7% from 17.6%

CONS

  • Promoter holding has decreased over last 2 years: -2.1pp
  • Stock is trading at 23.7x its book value
  • Expensive relative to growth - PEG of 5.1
  • Rich enterprise valuation - EV/EBITDA of 28.9x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

TextilesTextileTextile
Part ofNIFTY DIV OPPS 50NIFTYLARGEMIDCAP250NIFTYMIDCAP150NIFTY MIDCAP 100NIFTY MIDCAP 150
S.No.Name
1.PAGEIND35260.0552.0339328.621.56192.81-3.981420.457.8973.6020.35
2.KPRMILL1140.1042.7138970.210.44258.5421.551935.5214.7720.1619.37
3.WELSPUNLIV210.6071.6719896.490.05162.6182.092795.4523.666.4111.53
4.VTL583.0019.9116882.330.86314.5651.462703.0813.318.9118.11
5.ARVIND571.8537.5615556.640.7957.775.612500.9624.6515.309.64
6.MANYAVAR581.8035.0914136.471.3366.9037.31267.9522.7429.4545.53
7.PGIL2279.0033.9210526.820.6499.2351.371528.2624.4622.4210.72
8.ICIL445.0558.428814.410.3463.2267.281206.9625.898.7311.88
9.SWANCORP277.6538.938703.130.05-35.99-233.331013.75-16.444.50-0.38
10.GARFIBRES815.6537.927964.691.1064.6021.56482.3731.3520.9818.70
11.KUSUMGAR564.5560.365927.290.00426.47—2472.47—26.1530.50
12.GOKEX784.1555.815746.070.0044.306.811153.5120.699.109.75
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,2291,1221,2269921,2781,2461,3131,0981,3171,2911,3871,2531,420
9918929998281,0349651,0118631,0221,0111,0699921,172
Operating Profit239231226164243281303235295280318261248
OPM %19.41%20.54%18.48%16.56%19.05%22.58%23.04%21.42%22.38%21.65%22.94%20.80%17.46%
55914131514201519-231711
Interest13111010121112121313131212
Depreciation21252323222330252725272829
Profit before Tax210199202145222262275219270261256238259
Tax %24.59%24.63%24.61%25.39%25.73%25.61%25.57%25.00%25.69%25.40%26.04%24.84%25.43%
Net Profit158150152108165195205164201195190179193
141.98134.73136.5997.01148.13175.06183.48147.04180.02174.62169.93160.24172.86

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
2,1292,5512,8522,9462,8333,8864,7144,5694,9355,2475,351
1,7142,0102,2342,4132,3063,1003,8533,7093,8724,0944,245
Operating Profit4155426185335277878618601,0631,1531,106
OPM %19.48%21.23%21.66%18.09%18.61%20.25%18.27%18.82%21.53%21.97%20.67%
2422362519211632622925
Interest1918173430344145465050
Depreciation252831616365789199107109
Profit before Tax3955186064624537097587569791,0251,014
Tax %32.56%32.95%35.00%25.71%24.89%24.30%24.65%24.76%25.49%25.51%25.44%
Net Profit266347394343341537571569729764756
EPS238.73311.08353.19307.72305.35481.03512.15510.30653.70684.80—
Dividend Payout %40.63%30.86%97.40%52.32%81.87%76.92%48.81%72.51%137.68%80.32%—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
13%
3 Years:
4%

COMPOUNDED PROFIT GROWTH

10 Years:
13%
5 Years:
18%
3 Years:
10%

STOCK PRICE CAGR

10 Years:
9%
5 Years:
2%
3 Years:
-5%
1 Year:
-20%

RETURN ON EQUITY

10 Years:
46%
5 Years:
48%
3 Years:
46%
Last Year:
53%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 19

₹ 20

First Interim Dividend

2026

May 27

₹ 15

Interim Dividend

2026

Feb 11

₹ 12.50

Third Interim Dividend

2025

Nov 19

₹ 12.50

Second Interim Dividend

2025

Aug 13

₹ 15

First Interim Dividend

2025

May 21

₹ 20

Interim Dividend

2025

Feb 13

₹ 15

Third Interim Dividend

2024

Nov 14

₹ 25

Interim Dividend

2024

Aug 16

₹ 30

First Interim Dividend

2024

May 31

₹ 12

Interim Dividend

2024

Feb 16

₹ 10

Third Interim Dividend

2023

Nov 17

₹ 7.50

Second Interim Dividend

2023

Aug 18

₹ 7.50

First Interim Dividend

2023

Jun 2

₹ 6

Interim Dividend

2023

Feb 17

₹ 6

Third Interim Dividend

2022

Nov 17

₹ 7

Second Interim Dividend

2022

Aug 18

₹ 6

First Interim Dividend

2022

Jun 2

₹ 7

Interim Dividend

2022

Feb 17

₹ 10

Third Interim Dividend

2021

Nov 17

₹ 15

Second Interim Dividend

2021

Aug 18

₹ 5

First Interim Dividend

2021

Feb 17

₹ 15

Second Interim Dividend

2020

Nov 19

₹ 10

First Interim Dividend

2018

Aug 23

₹ 4.10

First Interim Dividend

2018

May 31

₹ 3.50

Interim Dividend

2018

Feb 15

₹ 3.50

Third Interim Dividend

2017

Nov 16

₹ 3.50

Second Interim Dividend

2017

Aug 2

₹ 2.50

Rs.25.0000 per share(250%)Final Dividend

2017

Jun 1

₹ 2.60

Interim Dividend

2017

Feb 16

₹ 2.50

Third Interim Dividend

2016

Nov 17

₹ 2.50

Second Interim Dividend

2016

Aug 3

₹ 2.40

2016

May 31

₹ 2.20

First Interim Dividend

2016

Feb 17

₹ 2.10

Third Interim Dividend

2015

Nov 16

₹ 2.10

Second Interim Dividend

2015

Nov 9

₹ 2.10

Rs.21.0000 per share (210%) Second Interim Dividend

2020

Feb 13

₹ 5.80

Rs.58.0000 per share(580%)Interim Dividend

2026

Aug 13

₹ 20

11/09/2026 Equity Rs.200.0000 per share(2000%)First Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital11111111111111111111
6558367648098741,0771,3601,5861,3961,491
79829415410382376147225246
Trade Payables11113612294251363288184255323
298347359445459570653745747776
Total Liabilities1,1541,4121,3511,5131,6982,1032,6882,6732,6352,847
236238301406386402485488758871
Capital Work in Progress24597292865150239721
5221800000000
6235687507195559751,5951,1708591,056
113000000159192201
Cash & Bank2167441174352838323471432
86263249243294377449295283285
Total Assets1,1541,4121,3511,5131,6982,1032,6882,6732,6352,847

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
2746174356448225021891,0801,204794
Cash from Investing-108-238192-27-40111931-37012-21
Cash from Financing-154-188-443-378-366-396-174-621-1,010-744
1227-22113-7149-1458920529

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
45.0444.2942.8942.8942.8942.8942.8942.8942.89
20.5520.8422.6723.5824.0323.2120.7119.0018.91
27.3528.7628.6927.8727.7528.5230.7832.5032.93
Government0.000.000.000.000.000.000.000.000.00
6.315.355.024.924.594.674.914.904.56

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02
General Updates

2026-09-02 - Page Industries Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 Pendency of Litigation

2026-08-27
Resignation of Director/KMP/SMP

2026-08-27 - Page Industries Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-27
Resignation

2026-08-27 - Page Industries Limited has informed the Exchange regarding Resignation of Murugesh C as Company Secretary & Compliance Officer of the company w.e.f. August 26, 2026.

2026-08-19
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Page Industries Limited has informed the Exchange about Transcript

2026-08-14
Copy of Newspaper Publication

2026-08-14 - Page Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Page Industries Limited has informed the Exchange about Schedule of meet

2026-08-13
Updates

2026-08-13 - Page Industries Limited has informed the Exchange regarding 'Video Recording of 31st AGM'.

2026-08-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Page Industries Limited has informed the Exchange about Link of Recording

2026-08-13
Updates

2026-08-13 - Page Industries Limited has informed the Exchange regarding 'Declaration under Regulation 34(1)(b)'.

News

Recent coverage and analyst commentary for PAGEIND

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