Page Industries Ltd.
•₹ 35,480-0.07%
2026-08-21
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 4.6
- Rich enterprise valuation - EV/EBITDA of 28.9x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | PAGEIND | 35400.00 | 0.00 | 39484.71 | 1.55 | 192.81 | -3.98 | 1420.45 | 7.89 | 73.60 | 20.35 |
| 2. | KPRMILL | 1122.45 | 42.05 | 38366.91 | 0.45 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| 3. | VTL | 594.75 | 20.30 | 17216.57 | 0.84 | 314.56 | 51.46 | 2703.08 | 13.31 | 11.31 | 18.11 |
| 4. | WELSPUNLIV | 181.25 | 61.68 | 17123.64 | 0.06 | 162.61 | 82.09 | 2795.45 | 23.66 | 15.04 | 11.53 |
| 5. | ARVIND | 518.15 | 34.04 | 14095.79 | 0.87 | 57.77 | 5.61 | 2500.96 | 24.65 | 13.98 | 9.64 |
| 6. | MANYAVAR | 542.75 | 32.73 | 13187.64 | 1.43 | 66.90 | 37.31 | 267.95 | 22.74 | 33.92 | 45.53 |
| 7. | PGIL | 2410.95 | 35.88 | 11136.31 | 0.60 | 99.23 | 51.37 | 1528.26 | 24.46 | 22.42 | 10.72 |
| 8. | SWANCORP | 302.25 | 42.38 | 9474.23 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| 9. | ICIL | 444.15 | 58.30 | 8796.58 | 0.34 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| 10. | GARFIBRES | 759.85 | 35.32 | 7419.81 | 1.18 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| 11. | KUSUMGAR | 565.70 | 60.48 | 5939.36 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| 12. | GOKEX | 797.25 | 56.74 | 5842.06 | 0.00 | 44.30 | 6.81 | 1153.51 | 20.69 | 12.75 | 9.75 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,229 | 1,122 | 1,226 | 992 | 1,278 | 1,246 | 1,313 | 1,098 | 1,317 | 1,291 | 1,387 | 1,253 | 1,420 | |
| 991 | 892 | 999 | 828 | 1,034 | 965 | 1,011 | 863 | 1,022 | 1,011 | 1,069 | 992 | 1,172 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 5 | 5 | 9 | 14 | 13 | 15 | 14 | 20 | 15 | 19 | 12 | 17 | 11 |
| Interest | 13 | 11 | 10 | 10 | 12 | 11 | 12 | 12 | 13 | 13 | 13 | 12 | 12 |
| Depreciation | 21 | 25 | 23 | 23 | 22 | 23 | 30 | 25 | 27 | 25 | 27 | 28 | 29 |
| 210 | 199 | 202 | 145 | 222 | 262 | 275 | 219 | 270 | 261 | 256 | 238 | 259 | |
| 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 Profit | 158 | 150 | 152 | 108 | 165 | 195 | 205 | 164 | 201 | 195 | 190 | 179 | 193 |
| 142 | 135 | 137 | 97 | 148 | 175 | 183 | 147 | 180 | 175 | 170 | 160 | 17 | |
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 1,229
- 991
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 13
- Depreciation
- 21
- 210
- Tax %
- 24.59%
- Net Profit
- 158
- 142
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 1,122
- 892
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 11
- Depreciation
- 25
- 199
- Tax %
- 24.63%
- Net Profit
- 150
- 135
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 1,226
- 999
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 10
- Depreciation
- 23
- 202
- Tax %
- 24.61%
- Net Profit
- 152
- 137
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 992
- 828
- Operating Profit
- —
- OPM %
- —
- Other Income
- 14
- Interest
- 10
- Depreciation
- 23
- 145
- Tax %
- 25.39%
- Net Profit
- 108
- 97
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,278
- 1,034
- Operating Profit
- —
- OPM %
- —
- Other Income
- 13
- Interest
- 12
- Depreciation
- 22
- 222
- Tax %
- 25.73%
- Net Profit
- 165
- 148
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,246
- 965
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 11
- Depreciation
- 23
- 262
- Tax %
- 25.61%
- Net Profit
- 195
- 175
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,313
- 1,011
- Operating Profit
- —
- OPM %
- —
- Other Income
- 14
- Interest
- 12
- Depreciation
- 30
- 275
- Tax %
- 25.57%
- Net Profit
- 205
- 183
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,098
- 863
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 12
- Depreciation
- 25
- 219
- Tax %
- 25.00%
- Net Profit
- 164
- 147
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,317
- 1,022
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 13
- Depreciation
- 27
- 270
- Tax %
- 25.69%
- Net Profit
- 201
- 180
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 1,291
- 1,011
- Operating Profit
- —
- OPM %
- —
- Other Income
- 19
- Interest
- 13
- Depreciation
- 25
- 261
- Tax %
- 25.40%
- Net Profit
- 195
- 175
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,387
- 1,069
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 13
- Depreciation
- 27
- 256
- Tax %
- 26.04%
- Net Profit
- 190
- 170
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,253
- 992
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 12
- Depreciation
- 28
- 238
- Tax %
- 24.84%
- Net Profit
- 179
- 160
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,420
- 1,172
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 12
- Depreciation
- 29
- 259
- Tax %
- 25.43%
- Net Profit
- 193
- 17
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,129 | 2,551 | 2,852 | 2,946 | 2,833 | 3,886 | 4,714 | 4,569 | 4,935 | 5,247 | 5,351 | |
| 1,714 | 2,010 | 2,234 | 2,413 | 2,306 | 3,100 | 3,853 | 3,709 | 3,872 | 4,094 | 4,245 | |
| Operating Profit | 439 | 563 | 654 | 558 | 547 | 808 | 877 | 892 | 1,124 | 1,217 | — |
| OPM % | 21 | 22 | 23 | 19 | 19 | 21 | 19 | 20 | 23 | 23 | — |
| Other Income | 24 | 22 | 36 | 25 | 19 | 21 | 16 | 32 | 62 | 64 | 60 |
| Interest | 19 | 18 | 17 | 34 | 30 | 34 | 41 | 45 | 46 | 50 | 50 |
| Depreciation | 25 | 28 | 31 | 61 | 63 | 65 | 78 | 91 | 99 | 107 | 109 |
| 395 | 518 | 606 | 462 | 453 | 709 | 758 | 756 | 979 | 1,025 | 1,014 | |
| Tax % | 33 | 33 | 35 | 26 | 25 | 24 | 25 | 25 | 25 | 26 | 25 |
| Net Profit | 266 | 347 | 394 | 343 | 341 | 537 | 571 | 569 | 729 | 764 | 756 |
| EPS | 239 | 311 | 353 | 308 | 305 | 481 | 512 | 510 | 654 | 685 | — |
| Dividend Payout % | 41 | 31 | 97 | 52 | 82 | 77 | 49 | 73 | 138 | 80 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 239 | 311 | 353 | 308 | 305 | 481 | 512 | 510 | 654 | 685 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 239 | 311 | 353 | 308 | 305 | 481 | 512 | 510 | 654 | 685 | — |
Mar 2017
- 2,129
- 1,714
- Operating Profit
- 439
- OPM %
- 21
- Other Income
- 24
- Interest
- 19
- Depreciation
- 25
- 395
- Tax %
- 33
- Net Profit
- 266
- EPS
- 239
- Dividend Payout %
- 41
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 239
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 239
Mar 2018
- 2,551
- 2,010
- Operating Profit
- 563
- OPM %
- 22
- Other Income
- 22
- Interest
- 18
- Depreciation
- 28
- 518
- Tax %
- 33
- Net Profit
- 347
- EPS
- 311
- Dividend Payout %
- 31
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 311
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 311
Mar 2019
- 2,852
- 2,234
- Operating Profit
- 654
- OPM %
- 23
- Other Income
- 36
- Interest
- 17
- Depreciation
- 31
- 606
- Tax %
- 35
- Net Profit
- 394
- EPS
- 353
- Dividend Payout %
- 97
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 353
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 353
Mar 2020
- 2,946
- 2,413
- Operating Profit
- 558
- OPM %
- 19
- Other Income
- 25
- Interest
- 34
- Depreciation
- 61
- 462
- Tax %
- 26
- Net Profit
- 343
- EPS
- 308
- Dividend Payout %
- 52
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 308
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 308
Mar 2021
- 2,833
- 2,306
- Operating Profit
- 547
- OPM %
- 19
- Other Income
- 19
- Interest
- 30
- Depreciation
- 63
- 453
- Tax %
- 25
- Net Profit
- 341
- EPS
- 305
- Dividend Payout %
- 82
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 305
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 305
Mar 2022
- 3,886
- 3,100
- Operating Profit
- 808
- OPM %
- 21
- Other Income
- 21
- Interest
- 34
- Depreciation
- 65
- 709
- Tax %
- 24
- Net Profit
- 537
- EPS
- 481
- Dividend Payout %
- 77
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 481
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 481
Mar 2023
- 4,714
- 3,853
- Operating Profit
- 877
- OPM %
- 19
- Other Income
- 16
- Interest
- 41
- Depreciation
- 78
- 758
- Tax %
- 25
- Net Profit
- 571
- EPS
- 512
- Dividend Payout %
- 49
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 512
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 512
Mar 2024
- 4,569
- 3,709
- Operating Profit
- 892
- OPM %
- 20
- Other Income
- 32
- Interest
- 45
- Depreciation
- 91
- 756
- Tax %
- 25
- Net Profit
- 569
- EPS
- 510
- Dividend Payout %
- 73
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 510
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 510
Mar 2025
- 4,935
- 3,872
- Operating Profit
- 1,124
- OPM %
- 23
- Other Income
- 62
- Interest
- 46
- Depreciation
- 99
- 979
- Tax %
- 25
- Net Profit
- 729
- EPS
- 654
- Dividend Payout %
- 138
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 654
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 654
Mar 2026
- 5,247
- 4,094
- Operating Profit
- 1,217
- OPM %
- 23
- Other Income
- 64
- Interest
- 50
- Depreciation
- 107
- 1,025
- Tax %
- 26
- Net Profit
- 764
- EPS
- 685
- Dividend Payout %
- 80
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 685
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 685
TTM
- 5,351
- 4,245
- Operating Profit
- —
- OPM %
- —
- Other Income
- 60
- Interest
- 50
- Depreciation
- 109
- 1,014
- Tax %
- 25
- Net Profit
- 756
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
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:
- 10%
- 5 Years:
- 3%
- 3 Years:
- -4%
- 1 Year:
- -22%
RETURN ON EQUITY
- 10 Years:
- 46%
- 5 Years:
- 48%
- 3 Years:
- 46%
- Last Year:
- 53%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| 655 | 836 | 764 | 809 | 874 | 1,077 | 1,360 | 1,586 | 1,396 | 1,491 | |
| 48 | 36 | 65 | 18 | 0 | 0 | 248 | 0 | 0 | 0 | |
| Trade Payables | 111 | 136 | 122 | 94 | 251 | 363 | 288 | 184 | 255 | 323 |
| 329 | 393 | 389 | 581 | 562 | 652 | 781 | 892 | 972 | 1,022 | |
| Total Liabilities | 1,154 | 1,412 | 1,351 | 1,513 | 1,698 | 2,103 | 2,688 | 2,673 | 2,635 | 2,847 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 236 | 238 | 301 | 406 | 386 | 402 | 485 | 488 | 758 | 871 | |
| Capital Work in Progress | 24 | 59 | 7 | 29 | 28 | 65 | 150 | 239 | 72 | 1 |
| 52 | 218 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 623 | 568 | 750 | 719 | 555 | 975 | 1,595 | 1,170 | 859 | 1,056 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 159 | 192 | 201 | |
| Cash & Bank | 21 | 67 | 44 | 117 | 435 | 283 | 8 | 323 | 471 | 432 |
| 198 | 263 | 249 | 243 | 294 | 377 | 449 | 295 | 283 | 285 | |
| Total Assets | 1,154 | 1,412 | 1,351 | 1,513 | 1,698 | 2,103 | 2,688 | 2,673 | 2,635 | 2,847 |
| Total Debt | 88 | 69 | 85 | 38 | 0 | 0 | 248 | 0 | 0 | 12 |
| Net Working Capital | 407 | 547 | 471 | 458 | 513 | 632 | 768 | 937 | 732 | 803 |
| Contingent Liabilities | 16 | 16 | 16 | 16 | 13 | 30 | 157 | 159 | 39 | 112 |
| Book Value per Share | 596.90 | 759.64 | 694.81 | 735.05 | 793.33 | 976.00 | 1229.20 | 1431.71 | 1261.61 | 1347.14 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 88 | 69 | 85 | 38 | 0 | 0 | 248 | 0 | 0 | 12 |
| Net Working Capital | 407 | 547 | 471 | 458 | 513 | 632 | 768 | 937 | 732 | 803 |
| Contingent Liabilities | 16 | 16 | 16 | 16 | 13 | 30 | 157 | 159 | 39 | 112 |
| Book Value per Share | 596.90 | 759.64 | 694.81 | 735.05 | 793.33 | 976.00 | 1229.20 | 1431.71 | 1261.61 | 1347.14 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 11
- 655
- 48
- Trade Payables
- 111
- 329
- Total Liabilities
- 1,154
- 236
- Capital Work in Progress
- 24
- 52
- 623
- 0
- Cash & Bank
- 21
- 198
- Total Assets
- 1,154
- Total Debt
- 88
- Net Working Capital
- 407
- Contingent Liabilities
- 16
- Book Value per Share
- 596.90
- Face Value
- 10.00
- Total Debt
- 88
- Net Working Capital
- 407
- Contingent Liabilities
- 16
- Book Value per Share
- 596.90
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 11
- 836
- 36
- Trade Payables
- 136
- 393
- Total Liabilities
- 1,412
- 238
- Capital Work in Progress
- 59
- 218
- 568
- 0
- Cash & Bank
- 67
- 263
- Total Assets
- 1,412
- Total Debt
- 69
- Net Working Capital
- 547
- Contingent Liabilities
- 16
- Book Value per Share
- 759.64
- Face Value
- 10.00
- Total Debt
- 69
- Net Working Capital
- 547
- Contingent Liabilities
- 16
- Book Value per Share
- 759.64
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 11
- 764
- 65
- Trade Payables
- 122
- 389
- Total Liabilities
- 1,351
- 301
- Capital Work in Progress
- 7
- 0
- 750
- 0
- Cash & Bank
- 44
- 249
- Total Assets
- 1,351
- Total Debt
- 85
- Net Working Capital
- 471
- Contingent Liabilities
- 16
- Book Value per Share
- 694.81
- Face Value
- 10.00
- Total Debt
- 85
- Net Working Capital
- 471
- Contingent Liabilities
- 16
- Book Value per Share
- 694.81
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 11
- 809
- 18
- Trade Payables
- 94
- 581
- Total Liabilities
- 1,513
- 406
- Capital Work in Progress
- 29
- 0
- 719
- 0
- Cash & Bank
- 117
- 243
- Total Assets
- 1,513
- Total Debt
- 38
- Net Working Capital
- 458
- Contingent Liabilities
- 16
- Book Value per Share
- 735.05
- Face Value
- 10.00
- Total Debt
- 38
- Net Working Capital
- 458
- Contingent Liabilities
- 16
- Book Value per Share
- 735.05
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 11
- 874
- 0
- Trade Payables
- 251
- 562
- Total Liabilities
- 1,698
- 386
- Capital Work in Progress
- 28
- 0
- 555
- 0
- Cash & Bank
- 435
- 294
- Total Assets
- 1,698
- Total Debt
- 0
- Net Working Capital
- 513
- Contingent Liabilities
- 13
- Book Value per Share
- 793.33
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 513
- Contingent Liabilities
- 13
- Book Value per Share
- 793.33
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 11
- 1,077
- 0
- Trade Payables
- 363
- 652
- Total Liabilities
- 2,103
- 402
- Capital Work in Progress
- 65
- 0
- 975
- 0
- Cash & Bank
- 283
- 377
- Total Assets
- 2,103
- Total Debt
- 0
- Net Working Capital
- 632
- Contingent Liabilities
- 30
- Book Value per Share
- 976.00
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 632
- Contingent Liabilities
- 30
- Book Value per Share
- 976.00
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 11
- 1,360
- 248
- Trade Payables
- 288
- 781
- Total Liabilities
- 2,688
- 485
- Capital Work in Progress
- 150
- 0
- 1,595
- 0
- Cash & Bank
- 8
- 449
- Total Assets
- 2,688
- Total Debt
- 248
- Net Working Capital
- 768
- Contingent Liabilities
- 157
- Book Value per Share
- 1229.20
- Face Value
- 10.00
- Total Debt
- 248
- Net Working Capital
- 768
- Contingent Liabilities
- 157
- Book Value per Share
- 1229.20
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 11
- 1,586
- 0
- Trade Payables
- 184
- 892
- Total Liabilities
- 2,673
- 488
- Capital Work in Progress
- 239
- 0
- 1,170
- 159
- Cash & Bank
- 323
- 295
- Total Assets
- 2,673
- Total Debt
- 0
- Net Working Capital
- 937
- Contingent Liabilities
- 159
- Book Value per Share
- 1431.71
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 937
- Contingent Liabilities
- 159
- Book Value per Share
- 1431.71
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 11
- 1,396
- 0
- Trade Payables
- 255
- 972
- Total Liabilities
- 2,635
- 758
- Capital Work in Progress
- 72
- 0
- 859
- 192
- Cash & Bank
- 471
- 283
- Total Assets
- 2,635
- Total Debt
- 0
- Net Working Capital
- 732
- Contingent Liabilities
- 39
- Book Value per Share
- 1261.61
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 732
- Contingent Liabilities
- 39
- Book Value per Share
- 1261.61
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 11
- 1,491
- 0
- Trade Payables
- 323
- 1,022
- Total Liabilities
- 2,847
- 871
- Capital Work in Progress
- 1
- 0
- 1,056
- 201
- Cash & Bank
- 432
- 285
- Total Assets
- 2,847
- Total Debt
- 12
- Net Working Capital
- 803
- Contingent Liabilities
- 112
- Book Value per Share
- 1347.14
- Face Value
- 10.00
- Total Debt
- 12
- Net Working Capital
- 803
- Contingent Liabilities
- 112
- Book Value per Share
- 1347.14
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 274 | 453 | 230 | 517 | 696 | 327 | -2 | 1,080 | 1,204 | 794 | |
| Cash from Investing | -108 | -238 | 192 | -27 | -401 | 119 | 31 | -370 | 12 | -21 |
| Cash from Financing | -154 | -188 | -443 | -378 | -366 | -396 | -174 | -621 | -1,010 | -744 |
| 12 | 27 | -22 | 113 | -71 | 49 | -145 | 89 | 205 | 29 | |
| Free Cash Flow | 214 | 390 | 188 | 357 | 657 | 209 | -240 | 905 | 1,003 | 654 |
| OCF / Net Profit | 1.03 | 1.30 | 0.58 | 1.51 | 2.04 | 0.61 | -0.00 | 1.90 | 1.65 | 1.04 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,805 | 1,801 | 1,170 | 1,887 | 2,533 | 2,530 |
| OCF / Net Profit | 1.03 | 1.30 | 0.58 | 1.51 | 2.04 | 0.61 | -0.00 | 1.90 | 1.65 | 1.04 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,805 | 1,801 | 1,170 | 1,887 | 2,533 | 2,530 |
Mar 2017
- 274
- Cash from Investing
- -108
- Cash from Financing
- -154
- 12
- Free Cash Flow
- 214
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
Mar 2018
- 453
- Cash from Investing
- -238
- Cash from Financing
- -188
- 27
- Free Cash Flow
- 390
- OCF / Net Profit
- 1.30
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.30
- Cumulative 5-Year FCF
- 0
Mar 2019
- 230
- Cash from Investing
- 192
- Cash from Financing
- -443
- -22
- Free Cash Flow
- 188
- OCF / Net Profit
- 0.58
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.58
- Cumulative 5-Year FCF
- 0
Mar 2020
- 517
- Cash from Investing
- -27
- Cash from Financing
- -378
- 113
- Free Cash Flow
- 357
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
Mar 2021
- 696
- Cash from Investing
- -401
- Cash from Financing
- -366
- -71
- Free Cash Flow
- 657
- OCF / Net Profit
- 2.04
- Cumulative 5-Year FCF
- 1,805
- OCF / Net Profit
- 2.04
- Cumulative 5-Year FCF
- 1,805
Mar 2022
- 327
- Cash from Investing
- 119
- Cash from Financing
- -396
- 49
- Free Cash Flow
- 209
- OCF / Net Profit
- 0.61
- Cumulative 5-Year FCF
- 1,801
- OCF / Net Profit
- 0.61
- Cumulative 5-Year FCF
- 1,801
Mar 2023
- -2
- Cash from Investing
- 31
- Cash from Financing
- -174
- -145
- Free Cash Flow
- -240
- OCF / Net Profit
- -0.00
- Cumulative 5-Year FCF
- 1,170
- OCF / Net Profit
- -0.00
- Cumulative 5-Year FCF
- 1,170
Mar 2024
- 1,080
- Cash from Investing
- -370
- Cash from Financing
- -621
- 89
- Free Cash Flow
- 905
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 1,887
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 1,887
Mar 2025
- 1,204
- Cash from Investing
- 12
- Cash from Financing
- -1,010
- 205
- Free Cash Flow
- 1,003
- OCF / Net Profit
- 1.65
- Cumulative 5-Year FCF
- 2,533
- OCF / Net Profit
- 1.65
- Cumulative 5-Year FCF
- 2,533
Mar 2026
- 794
- Cash from Investing
- -21
- Cash from Financing
- -744
- 29
- Free Cash Flow
- 654
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 2,530
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 2,530
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 238.73 | 311.08 | 353.18 | 307.71 | 305.34 | 481.02 | 512.15 | 510.30 | 653.70 | 684.80 |
| Book Value (₹) | 596.90 | 759.64 | 694.81 | 735.05 | 793.33 | 976.00 | 1229.20 | 1431.71 | 1261.61 | 1347.14 |
| Dividend per Share (₹) | 97.00 | 96.00 | 344.00 | 161.00 | 250.00 | 370.00 | 250.00 | 370.00 | 900.00 | 550.00 |
| Cash EPS (₹) | 260.89 | 336.17 | 381.03 | 362.72 | 361.75 | 539.72 | 582.16 | 591.73 | 742.67 | 780.40 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 20.61% | 22.07% | 22.04% | 18.00% | 18.50% | 20.01% | 17.63% | 17.59% | 20.25% | 20.71% |
| Net Margin % | 12.50% | 13.60% | 13.27% | 11.08% | 11.52% | 13.29% | 11.48% | 11.64% | 13.90% | 13.72% |
| ROE % | 44.54% | 45.86% | 48.57% | 43.04% | 39.96% | 54.37% | 46.45% | 38.36% | 48.54% | 52.50% |
| ROCE % | 60.12% | 64.12% | 70.20% | 57.80% | 55.51% | 75.23% | 59.04% | 49.84% | 68.24% | 73.60% |
| 25.36% | 27.04% | 28.52% | 23.97% | 21.22% | 28.23% | 23.85% | 21.23% | 27.47% | 27.87% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 18 | 19 | 17 | 12 | 13 | 14 | 11 | 11 | 12 | 13 |
| Inventory Days | 100 | 85 | 81 | 87 | 79 | 69 | 94 | 103 | 71 | 63 |
| Payable Days | 43 | 42 | 39 | 30 | 50 | 66 | 57 | 41 | 38 | 49 |
| 75 | 62 | 58 | 68 | 42 | 17 | 49 | 73 | 45 | 27 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.13x | 0.08x | 0.11x | 0.05x | 0.00x | 0.00x | 0.18x | 0.00x | 0.00x | 0.01x |
| Interest Coverage (x) | 21.26x | 30.24x | 36.19x | 14.44x | 15.95x | 22.09x | 19.36x | 17.85x | 22.10x | 21.60x |
| 1.96x | 2.08x | 1.88x | 1.82x | 1.72x | 1.67x | 1.64x | 2.00x | 1.72x | 1.72x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 18.54% | 19.87% | 11.79% | 3.27% | -3.82% | 37.19% | 17.25% | -3.08% | 8.00% | 6.32% |
| Operating Profit Growth % | 13.72% | 28.28% | 16.18% | -14.76% | -1.99% | 47.78% | 8.62% | 1.68% | 26.00% | 8.23% |
| Net Profit Growth % | 15.02% | 30.30% | 13.54% | -12.87% | -0.77% | 57.53% | 6.47% | -0.36% | 28.10% | 4.76% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -0.36% | 28.10% | 4.76% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 67.47x | 65.42x | 46.53x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 24.05x | 33.90x | 23.65x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.07% | 2.10% | 1.73% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 42.68x | 42.01x | 28.87x |
Mar 2017
- EPS (₹)
- 238.73
- Book Value (₹)
- 596.90
- Dividend per Share (₹)
- 97.00
- Cash EPS (₹)
- 260.89
- Operating Margin %
- 20.61%
- Net Margin %
- 12.50%
- ROE %
- 44.54%
- ROCE %
- 60.12%
- 25.36%
- Debtor Days
- 18
- Inventory Days
- 100
- Payable Days
- 43
- 75
- Debt to Equity (x)
- 0.13x
- Interest Coverage (x)
- 21.26x
- 1.96x
- Revenue Growth %
- 18.54%
- Operating Profit Growth %
- 13.72%
- Net Profit Growth %
- 15.02%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 311.08
- Book Value (₹)
- 759.64
- Dividend per Share (₹)
- 96.00
- Cash EPS (₹)
- 336.17
- Operating Margin %
- 22.07%
- Net Margin %
- 13.60%
- ROE %
- 45.86%
- ROCE %
- 64.12%
- 27.04%
- Debtor Days
- 19
- Inventory Days
- 85
- Payable Days
- 42
- 62
- Debt to Equity (x)
- 0.08x
- Interest Coverage (x)
- 30.24x
- 2.08x
- Revenue Growth %
- 19.87%
- Operating Profit Growth %
- 28.28%
- Net Profit Growth %
- 30.30%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 353.18
- Book Value (₹)
- 694.81
- Dividend per Share (₹)
- 344.00
- Cash EPS (₹)
- 381.03
- Operating Margin %
- 22.04%
- Net Margin %
- 13.27%
- ROE %
- 48.57%
- ROCE %
- 70.20%
- 28.52%
- Debtor Days
- 17
- Inventory Days
- 81
- Payable Days
- 39
- 58
- Debt to Equity (x)
- 0.11x
- Interest Coverage (x)
- 36.19x
- 1.88x
- Revenue Growth %
- 11.79%
- Operating Profit Growth %
- 16.18%
- Net Profit Growth %
- 13.54%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 307.71
- Book Value (₹)
- 735.05
- Dividend per Share (₹)
- 161.00
- Cash EPS (₹)
- 362.72
- Operating Margin %
- 18.00%
- Net Margin %
- 11.08%
- ROE %
- 43.04%
- ROCE %
- 57.80%
- 23.97%
- Debtor Days
- 12
- Inventory Days
- 87
- Payable Days
- 30
- 68
- Debt to Equity (x)
- 0.05x
- Interest Coverage (x)
- 14.44x
- 1.82x
- Revenue Growth %
- 3.27%
- Operating Profit Growth %
- -14.76%
- Net Profit Growth %
- -12.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 305.34
- Book Value (₹)
- 793.33
- Dividend per Share (₹)
- 250.00
- Cash EPS (₹)
- 361.75
- Operating Margin %
- 18.50%
- Net Margin %
- 11.52%
- ROE %
- 39.96%
- ROCE %
- 55.51%
- 21.22%
- Debtor Days
- 13
- Inventory Days
- 79
- Payable Days
- 50
- 42
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 15.95x
- 1.72x
- Revenue Growth %
- -3.82%
- Operating Profit Growth %
- -1.99%
- Net Profit Growth %
- -0.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 481.02
- Book Value (₹)
- 976.00
- Dividend per Share (₹)
- 370.00
- Cash EPS (₹)
- 539.72
- Operating Margin %
- 20.01%
- Net Margin %
- 13.29%
- ROE %
- 54.37%
- ROCE %
- 75.23%
- 28.23%
- Debtor Days
- 14
- Inventory Days
- 69
- Payable Days
- 66
- 17
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 22.09x
- 1.67x
- Revenue Growth %
- 37.19%
- Operating Profit Growth %
- 47.78%
- Net Profit Growth %
- 57.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 512.15
- Book Value (₹)
- 1229.20
- Dividend per Share (₹)
- 250.00
- Cash EPS (₹)
- 582.16
- Operating Margin %
- 17.63%
- Net Margin %
- 11.48%
- ROE %
- 46.45%
- ROCE %
- 59.04%
- 23.85%
- Debtor Days
- 11
- Inventory Days
- 94
- Payable Days
- 57
- 49
- Debt to Equity (x)
- 0.18x
- Interest Coverage (x)
- 19.36x
- 1.64x
- Revenue Growth %
- 17.25%
- Operating Profit Growth %
- 8.62%
- Net Profit Growth %
- 6.47%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 510.30
- Book Value (₹)
- 1431.71
- Dividend per Share (₹)
- 370.00
- Cash EPS (₹)
- 591.73
- Operating Margin %
- 17.59%
- Net Margin %
- 11.64%
- ROE %
- 38.36%
- ROCE %
- 49.84%
- 21.23%
- Debtor Days
- 11
- Inventory Days
- 103
- Payable Days
- 41
- 73
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 17.85x
- 2.00x
- Revenue Growth %
- -3.08%
- Operating Profit Growth %
- 1.68%
- Net Profit Growth %
- -0.36%
- -0.36%
- P/E (x)
- 67.47x
- P/B (x)
- 24.05x
- Dividend Yield %
- 1.07%
- 42.68x
Mar 2025
- EPS (₹)
- 653.70
- Book Value (₹)
- 1261.61
- Dividend per Share (₹)
- 900.00
- Cash EPS (₹)
- 742.67
- Operating Margin %
- 20.25%
- Net Margin %
- 13.90%
- ROE %
- 48.54%
- ROCE %
- 68.24%
- 27.47%
- Debtor Days
- 12
- Inventory Days
- 71
- Payable Days
- 38
- 45
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 22.10x
- 1.72x
- Revenue Growth %
- 8.00%
- Operating Profit Growth %
- 26.00%
- Net Profit Growth %
- 28.10%
- 28.10%
- P/E (x)
- 65.42x
- P/B (x)
- 33.90x
- Dividend Yield %
- 2.10%
- 42.01x
Mar 2026
- EPS (₹)
- 684.80
- Book Value (₹)
- 1347.14
- Dividend per Share (₹)
- 550.00
- Cash EPS (₹)
- 780.40
- Operating Margin %
- 20.71%
- Net Margin %
- 13.72%
- ROE %
- 52.50%
- ROCE %
- 73.60%
- 27.87%
- Debtor Days
- 13
- Inventory Days
- 63
- Payable Days
- 49
- 27
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 21.60x
- 1.72x
- Revenue Growth %
- 6.32%
- Operating Profit Growth %
- 8.23%
- Net Profit Growth %
- 4.76%
- 4.76%
- P/E (x)
- 46.53x
- P/B (x)
- 23.65x
- Dividend Yield %
- 1.73%
- 28.87x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-19 - Page Industries Limited has informed the Exchange about Transcript
- Copy of Newspaper Publication
2026-08-14 - Page Industries Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
- Credit Rating
2025-10-16 - Page Industries Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026