Page Industries’ results show why high valuations are not justified
Net profit fell by 14.6% to ₹87 cr in Q3. This pales in comparison to ₹119 cr estimate by a Bloomberg poll of analysts
The company said its volumes declined by 2.8% year-on-year
Shares of inner wear maker Page Industries Ltd trade at about 49 times estimated earnings for FY21. Obviously, these valuations are not particularly economical. This is despite the fact that the shares have shed 12.5% from their 52-week trading high seen on 24 January.
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