Recent Price Movement and Market Context
On 27 Feb 2026, Page Industries Ltd’s share price declined by 1.00% in line with the sector’s performance, closing at the new 52-week low of Rs.31,941.15. This marks a notable drop from its 52-week high of Rs.50,470.60, representing a decline of approximately 36.7% over the period. The stock has consecutively fallen for three sessions, trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bearish momentum.
The broader market environment has also been challenging. The Sensex opened flat but soon turned negative, falling 420.93 points or 0.55% to close at 81,799.55. The index is trading below its 50-day moving average, although the 50DMA remains above the 200DMA, indicating some underlying medium-term support. Despite this, the sector and Page Industries have not been immune to the downward pressure.
Performance Comparison and Valuation Metrics
Over the last year, Page Industries Ltd has underperformed the benchmark Sensex, delivering a negative return of 24.10% compared to the Sensex’s positive 9.63% gain. This underperformance extends to the medium term as well, with the stock lagging the BSE500 index over the past three years, one year, and three months.
Valuation remains a key consideration. The company’s Price to Book Value stands at a premium 25.5 times, reflecting a very expensive valuation relative to peers. Its Return on Equity (ROE) is robust at 55%, and the Price/Earnings to Growth (PEG) ratio is 3.1, indicating that the stock is priced for high growth expectations. However, the recent price decline suggests a reassessment of these expectations by the market.
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Financial Strength and Operational Highlights
Despite the recent price weakness, Page Industries Ltd maintains strong long-term financial metrics. The company’s average Return on Equity (ROE) stands at 45.83%, underscoring efficient capital utilisation. Operating profit has grown at an annual rate of 23.86%, reflecting healthy earnings growth over time. The company’s debt profile remains conservative, with an average Debt to Equity ratio of just 0.02 times, indicating minimal leverage.
Recent quarterly and half-yearly results also highlight operational strength. The Return on Capital Employed (ROCE) for the half year reached a high of 64.03%, while the Debtors Turnover Ratio stood at 30.00 times, signalling effective working capital management. Net sales for the quarter were recorded at Rs.1,386.76 crores, contributing to annual sales of Rs.5,092.25 crores, which accounts for 12.25% of the Garments & Apparels industry’s total sales.
Sector Position and Institutional Backing
Page Industries Ltd is the largest company in its sector by market capitalisation, valued at Rs.35,878 crores, representing 24.21% of the entire Garments & Apparels sector. Institutional investors hold a significant stake of 52.21%, reflecting confidence from entities with extensive analytical resources. This institutional presence often provides a stabilising influence on the stock, even amid short-term price fluctuations.
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Summary of Recent Trends and Market Sentiment
The stock’s recent decline to a 52-week low reflects a combination of factors including valuation pressures, sectoral weakness, and broader market volatility. While the company’s fundamentals remain solid, the share price has adjusted to reflect a more cautious market stance. The stock’s performance over the past year, with a negative return of 24.10%, contrasts with its profit growth of 15.1%, suggesting that market sentiment has been influenced by factors beyond immediate earnings.
Page Industries Ltd’s trading below all major moving averages indicates a technical downtrend, which may influence short-term trading behaviour. The stock’s premium valuation relative to peers and historical averages has likely contributed to the recent price correction as investors reassess growth prospects and risk.
Conclusion
Page Industries Ltd’s fall to Rs.31,941.15 marks a significant milestone in its price journey over the past year. Despite this, the company continues to demonstrate strong financial health, operational efficiency, and sector leadership. The current price level reflects a market environment that is balancing the company’s robust fundamentals against valuation concerns and sectoral headwinds. Investors and market participants will continue to monitor how these factors evolve in the context of broader economic and market conditions.
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