Page Industries’ shares take a beating after soft Q1 results
Page Industries’ shares trade at nearly 62 times estimated earnings for FY23. To be sure, valuations are not cheap. Analysts have pointed out intense competition in inner wear, raw material inflation as key risks
Shares of Page Industries Ltd traded more than 3% lower on the National Stock Exchange on Friday following its June quarter results (Q1FY22). The company’s results show the impact of the pandemic-related disruptions on sales. Revenues declined 43% quarter-on-quarter to Rs501 crore even as a favourable base boosted growth on a year-on-year basis. But revenues are still 40% lower compared to Q1FY20.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started