Stock Performance and Market Context
The stock has been on a downward trajectory for the past two sessions, registering a cumulative loss of 1.63%. Today’s decline of 1.18% places Page Industries below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day marks, signalling sustained bearish momentum. This contrasts with the broader market, where the Sensex opened lower by 108.48 points and currently trades at 85,137.20, down 0.35%. Notably, the Sensex remains close to its 52-week high of 86,159.02 and maintains a bullish stance above its 50-day and 200-day moving averages.
Comparative Performance Over One Year
Over the last twelve months, Page Industries has underperformed significantly, delivering a negative return of 26.38%, while the Sensex posted a positive gain of 9.21%. The stock’s 52-week high was Rs. 50,470.60, highlighting the extent of the recent correction. This underperformance extends beyond the one-year horizon, with the company lagging behind the BSE500 index over the past three years, one year, and three months.
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Financial Metrics and Valuation
Page Industries reported flat quarterly results for September 2025, with earnings per share (EPS) at Rs. 17.52, the lowest in recent quarters. Despite this, the company maintains a robust return on equity (ROE) of 54.2%, reflecting strong profitability. However, the stock’s valuation remains elevated, trading at a price-to-book (P/B) ratio of 28.2, which is considerably higher than the average historical valuations of its peers in the Garments & Apparels sector.
The company’s price-to-earnings-to-growth (PEG) ratio stands at 2.3, indicating that the stock’s price growth has outpaced earnings growth. While profits have increased by 23.1% over the past year, this has not translated into positive returns for shareholders, underscoring valuation concerns.
Long-Term Growth and Financial Health
Page Industries exhibits strong fundamental strength over the long term, with an average ROE of 45.83% and an annual operating profit growth rate of 30.74%. The company’s balance sheet remains healthy, supported by a low average debt-to-equity ratio of 0.02 times, indicating minimal leverage and financial risk.
Market Position and Sector Influence
With a market capitalisation of Rs. 39,764 crore, Page Industries is the largest company in its sector, accounting for 24.99% of the Garments & Apparels industry by market cap. Its annual sales of Rs. 5,018.54 crore represent 12.11% of the sector’s total revenue, underscoring its dominant position.
Shareholding Pattern
Institutional investors hold a significant stake of 52.45% in the company. These investors typically possess greater analytical resources and a longer-term perspective, which can influence stock price movements and market sentiment.
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Mojo Score and Rating Update
Page Industries currently holds a Mojo Score of 44.0, with a Mojo Grade of Sell, reflecting a downgrade from its previous Hold rating as of 23 September 2025. The market cap grade is rated at 2, indicating moderate size relative to other companies in the sector. This rating change aligns with the recent price weakness and valuation concerns.
Summary of Key Concerns
The stock’s recent decline to a 52-week low is influenced by a combination of factors including flat quarterly earnings, a premium valuation relative to peers, and underperformance against benchmark indices. Despite strong long-term fundamentals and sector leadership, the current market pricing reflects cautious sentiment.
Sector and Market Environment
While Page Industries has faced headwinds, the broader Garments & Apparels sector and the Sensex index have shown resilience. The Sensex’s proximity to its 52-week high and its position above key moving averages suggest a generally positive market environment, contrasting with the stock’s individual performance.
Conclusion
Page Industries Ltd’s fall to Rs. 35,005 marks a notable low point in its recent trading history. The stock’s valuation metrics, earnings trends, and relative performance provide a comprehensive picture of the factors contributing to this level. Investors and market participants will continue to monitor these dynamics within the context of the company’s strong fundamentals and sector position.
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