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Page Industries is the exclusive licensee of Jockey International, Inc. (USA). The company manufactures and distributes the JOCKEY® brand of innerwear and leisurewear for men and women in India, Sri Lanka, Bangladesh and Nepal. Considering the companys dominant presence in a fast-growing market, strong brand recall, consistent financial performance and high dividend payout, we believe Page Industries is an ideal contender to get re-rated. Expecting the companys PAT to witness a 28% CAGR over FY2010–12E and considering its robust RoE profile, we have assigned a P/E multiple of 24x for its FY2012E earnings. Hence, we Initiate Coverage on the stock assigning an Accumulate rating with a Target Price of Rs1,392.Download Full Report
|MCAP BSE (Rs in Cr)||18,344.15|
|MCAP NSE (Rs in Cr)||18,420.69|
|Div Yield (%)||0.52|
Shareholding Pattern (%)
|Public & Others||7.0|