Hefty Dividend of Rs.120: Payment Date - 22 June, Record Date - 31 May; Buy/Sell?

For the production, marketing, and distribution of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the United Arab Emirates, Page Industries holds the exclusive license from JOCKEY International Inc. (USA). In addition, Page Industries holds an exclusive license from Speedo International Ltd. to manufacture, promote, and distribute the Speedo brand throughout India.

Page Industries Dividend

"We further inform you that the Board of Directors of the Company at their meeting held today (i.e., 23 May 2024) has declared 4th Interim Dividend 2023-24 of Rs.120/- per equity share. As informed earlier, the record date fixed for the payment of interim dividend is 31 May 2024. The date fixed for payment of dividend is on or before 22 June 2024," said the company in a regulatory filing.

"The Board of Directors of the Company at their meeting held on August 10, 2023, November 09, 2023, February 08, 2024 and May 23, 2024 have declared dividend of Rs 75, Rs 75, Rs 100 and Rs 120 per equity share respectively," Page Industries have stated in its earning statement.

Page Industries Financials

Page Industries declared that its consolidated net profit for the March quarter of 2024 was Rs 108.2 crore, up 38.2 percent from Rs 78.3 crore during the same period in the prior fiscal year. According to a regulatory filing, the company's total revenue jumped by 3.2 percent to Rs 995.3 crore in Q4FY24 from Rs 964.6 crore in Q4FY23. EBITDA margins were 16.8% YoY during the quarter, while earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 24.5 percent to Rs 167.2 crore.

Mr. V.S. Ganesh, Managing Director, Page Industries Limited said, "I am pleased to share that our strategic commitment to sustainable sales practices and meticulous inventory management has been instrumental in maintaining robust margins and enhanced profitability. Focused efforts to optimize operational efficiency has also been pivotal in enabling us to achieve an impressive 38.1% growth in PAT for Q4."

"Our adaptive strategies including enhancing supply chain productivity and modernizing our distribution management system in response to the market's evolving demands have shown early signs of stabilizing revenue this quarter, despite challenges due to generally subdued market conditions. Our ecommerce channel continues to drive substantial growth, reflecting evolving consumer purchasing behaviour. With continued investments in our strategic drivers, we are well-positioned to seize long term opportunities of growth," he further added.

Page Industries Share Price Target

Deven Mehata - Equity Research Analyst at Choice Broking said, "PAGEIND is currently trading at Rs 35,565, experiencing fluctuations within a range of Rs 33,900 to Rs 36,500. This trend suggests a likely sideways movement within this range. Should the price breach the Rs 36,555 level, there is potential for it to ascend further to the Rs 39,400 level in the short term, with support observed near the Rs 34,500 mark. The Relative Strength Index (RSI) is at 52.66 and trending sideways, indicating significant lateral movement. Notably, PAGEIND is trading below its 20-day and 50-day Exponential Moving Averages (EMA), reinforcing the sideways movement."

"Overall, the trend for PAGEIND is sideways to bullish, which bolsters the optimistic outlook for the stock. Given these signals, there is a possibility for the stock to achieve a target price of Rs 39,400 in the near term. Investors might consider buying on dips, particularly around Rs 35,000, to capitalize on potential retracements in the stock price. To manage risk prudently, it is advisable to implement a stop-loss at Rs 33,900. This precautionary measure is crucial to safeguard investments against unexpected market reversals," the analyst further commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.