Page Industries Falls to 52-Week Low of Rs. 36,557.5 Amidst Sector Underperformance

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Page Industries has reached a new 52-week low of Rs. 36,557.5, marking a significant price level for the garment and apparel company. This development comes amid a broader market environment where the Sensex trades slightly below its recent highs, while the stock continues to lag behind sector and benchmark indices.

Stock Price Movement and Market Context

On 11 December 2025, Page Industries recorded its lowest price in the past year at Rs. 36,557.5. This price point follows a sequence of declines over four consecutive sessions, although the stock showed a modest gain on the day, outperforming its sector by 0.6%. Despite this short-term uptick, the stock remains below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating sustained downward pressure.

The broader market, represented by the Sensex, opened flat and traded at 84,286.82 points, reflecting a marginal decline of 0.12%. The Sensex remains within 2.22% of its 52-week high of 86,159.02 and is positioned above its 50-day and 200-day moving averages, suggesting a generally bullish trend for the benchmark index. In contrast, Page Industries’ one-year performance shows a decline of 21.67%, compared to the Sensex’s positive return of 3.39% over the same period.

Financial Performance and Valuation Metrics

Page Industries’ recent quarterly results have been largely flat, with earnings per share (EPS) reported at Rs. 17.52, the lowest in recent quarters. The company’s return on equity (ROE) stands at a robust 54.2%, reflecting strong profitability relative to shareholder equity. However, this high ROE is accompanied by a price-to-book value ratio of 29.1, which is considered very expensive compared to industry peers and historical averages.

Over the past year, while the stock price has declined by over 21%, the company’s profits have shown a growth rate of 23.1%. The price/earnings to growth (PEG) ratio is calculated at 2.3, indicating that the stock’s valuation may not be fully aligned with its earnings growth trajectory. Additionally, the stock has underperformed the BSE500 index over the last three years, one year, and three months, highlighting challenges in both the near and long term.

Sector Position and Market Capitalisation

Page Industries holds a dominant position within the garments and apparels sector, with a market capitalisation of approximately Rs. 40,990 crores. This represents about 25.07% of the entire sector’s market value. The company’s annual sales amount to Rs. 5,018.54 crores, accounting for 12.11% of the industry’s total sales. These figures underscore Page Industries’ significant scale and influence within its sector.

The company’s debt-to-equity ratio remains low at an average of 0.02 times, indicating a conservative capital structure with minimal reliance on debt financing. This financial prudence supports the company’s long-term stability despite recent price pressures.

Institutional Holdings and Market Dynamics

Institutional investors hold a substantial stake in Page Industries, with ownership levels at 52.45%. These investors typically possess greater resources and analytical capabilities to assess company fundamentals, which may influence trading patterns and valuation perspectives. The stock’s premium valuation relative to peers suggests that market participants continue to weigh the company’s strong fundamentals against its recent price performance.

Trading Range and Price Volatility

On the day the 52-week low was recorded, Page Industries traded within a narrow range of Rs. 334.15, reflecting limited intraday price movement. This constrained volatility contrasts with the broader downward trend observed over recent months. The stock’s position below all major moving averages further highlights the prevailing bearish momentum in the short to medium term.

Despite the recent price decline, the company’s long-term fundamentals remain supported by a strong average return on equity of 45.83% and an operating profit growth rate of 30.74% per annum. These metrics indicate sustained profitability and growth capacity over time, even as the stock price reflects current market sentiment.

Summary of Key Metrics

To summarise, Page Industries’ key financial and market metrics as of December 2025 include:

52-week low price: Rs. 36,557.5

One-year stock return: -21.67%

Sensex one-year return: +3.39%

Return on equity (ROE): 54.2%

Price-to-book value: 29.1

EPS (quarterly): Rs. 17.52

Operating profit growth (annual): 30.74%

Debt-to-equity ratio: 0.02 times

Institutional holdings: 52.45%

Market capitalisation: Rs. 40,990 crores

Annual sales: Rs. 5,018.54 crores

These figures provide a comprehensive view of the company’s financial standing and market position amid the recent price movements.

Conclusion

Page Industries’ fall to a 52-week low of Rs. 36,557.5 reflects a period of price adjustment within a broader market context where the Sensex remains relatively stable. The stock’s valuation metrics indicate a premium pricing relative to earnings and book value, while its profitability and growth rates remain strong. The company’s dominant sector position and low leverage contribute to its fundamental strength, even as the stock price navigates a challenging phase.

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