Recent Price Movement and Market Context
On 19 Dec 2025, Page Industries touched Rs.35,500, its lowest price point in the last year. This level contrasts sharply with its 52-week high of Rs.50,470.60, indicating a substantial price range fluctuation of nearly 30%. Over the last six days, the stock has recorded a cumulative return of -3.98%, with a day-on-day decline of 0.35% on the latest session. This performance trails the Garments & Apparels sector by approximately 0.58% on the same day.
While Page Industries has been trending lower, the broader market has shown resilience. The Sensex opened 274.98 points higher and was trading at 84,958.57, representing a 0.56% gain. The index remains close to its 52-week high of 86,159.02, just 1.41% shy of that peak. Additionally, the Sensex is positioned above its 50-day moving average, which itself is above the 200-day moving average, signalling a generally bullish market trend. Mega-cap stocks have been leading this upward momentum, contrasting with the performance of Page Industries.
Technical Indicators and Moving Averages
Page Industries is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests a persistent weakness in the stock’s price momentum over short, medium, and long-term horizons. The consistent trading below these averages often indicates a cautious market sentiment towards the stock.
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Financial Performance and Valuation Metrics
Page Industries’ financial results for the quarter ending September 2025 showed flat revenue growth, with earnings per share (EPS) at Rs.17.52, the lowest recorded in recent quarters. Despite this, the company’s return on equity (ROE) remains robust at 54.2%, reflecting strong profitability relative to shareholder equity. However, the stock’s price-to-book value stands at 28.2, indicating a valuation premium compared to its peers and historical averages.
Over the past year, the company’s profits have grown by 23.1%, yet the stock price has declined by 27.61%. This divergence is further highlighted by the company’s price/earnings to growth (PEG) ratio of 2.3, suggesting that the market valuation may be factoring in growth expectations that are not fully aligned with recent price movements.
Long-Term Performance and Sector Positioning
Page Industries has underperformed the BSE500 index over the last three years, one year, and three months, indicating challenges in maintaining market leadership in the longer term. Despite this, the company holds a dominant position within the Garments & Apparels sector, with a market capitalisation of approximately Rs.39,680 crore. This represents 25.11% of the sector’s total market value. Its annual sales of Rs.5,018.54 crore account for 12.11% of the industry’s revenue, underscoring its significant scale.
The company’s long-term fundamentals remain strong, with an average ROE of 45.83% and operating profit growth at an annual rate of 30.74%. Additionally, Page Industries maintains a low average debt-to-equity ratio of 0.02 times, reflecting a conservative capital structure.
Shareholding and Institutional Interest
Institutional investors hold a substantial 52.45% stake in Page Industries. These investors typically possess greater resources and analytical capabilities to assess company fundamentals, which can influence stock price dynamics and market perception.
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Summary of Key Factors Influencing the Stock’s Recent Performance
The recent decline in Page Industries’ stock price to a 52-week low can be attributed to a combination of factors. The stock’s trading below all major moving averages signals a lack of upward momentum. The flat quarterly results and the lowest EPS in recent periods have likely contributed to subdued market sentiment. Furthermore, the valuation premium relative to peers and historical levels may have tempered enthusiasm among investors.
Despite the stock’s underperformance, the company’s strong long-term fundamentals, including high ROE, healthy operating profit growth, and low leverage, remain notable. Its dominant market position within the Garments & Apparels sector and significant institutional shareholding also provide context to its current valuation and trading levels.
Meanwhile, the broader market environment remains positive, with the Sensex trading near its 52-week high and supported by mega-cap gains. This divergence highlights the sector-specific and company-specific factors influencing Page Industries’ stock trajectory.
Conclusion
Page Industries’ fall to Rs.35,500 marks a significant price milestone, reflecting a period of price consolidation and market reassessment. While the stock has experienced a notable decline over the past year and recent sessions, the company’s underlying financial strength and sector leadership continue to be important considerations for market participants analysing its performance.
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