Sluggish revenue growth; efficient cost-control measures

11 Mar 2024
5 Min read 
  • Page Industries (PAGE) reported sluggish revenue growth in 3QFY24 due to subdued demand in the apparel industry.
  •  The company implemented cost-control measures to expand EBITDA margins.
  •  Industry demand headwinds are expected to continue in the near term.
  •  The company's earnings outlook remains uncertain.
  •  The stock is rated as Neutral with a target price of INR35,500.
  •  The company will focus on optimizing channel inventory and expanding its distribution network.
  •  The management has retained its EBITDA margin guidance of 19-21%.
  •  EPS estimates for FY24 have been reduced by 7% due to a miss in 3QFY24 and a weak near-term outlook.
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