Page Ind: How This Large-Cap Stock Gives Rs 1 Cr Return Of Rs 80,000 Investment; Dividend Soon, Rs 42,500 TP

Jockey licensee in India, Page Industries is a wealth creating stock in the long run, especially from the period of the Great recession. Page Industries share which was less than Rs 300 in early 2007s, is currently trading at over Rs 37,000 levels on BSE. Anyone who invested between Rs 80,000 to Rs 1 lakh in Page Industries during 2007, is now holding a corpus of more than Rs 1 crore. This 1 large-cap is a great example of how to become a crorepati in the stock market in long term. Page Industries share has a target price of Rs 42,500, which means more gains ahead!

On BSE, Page Industries share price is at Rs 37,446 as of January 20, 2024. Its market cap is at Rs 41,766.80 crore. Page Industries' 52-week high and low are at Rs 43,599 and Rs 34,968.60 apiece respectively.

Page Industries was listed on stock exchanges on March 16, 2007. Its listing day closing price was at Rs 282.10 apiece on BSE. Page had a discount listing compared to its IPO issue price of Rs 360 back in that day.

The company launched its Rs 100.94 crore IPO from February 23-27 2007. On the final day of the IPO, it had fully subscribed by 1.44 times.

Time skip, at present, Page Industries stock is at Rs 37,446 apiece, and the company is set to reward shareholders with a dividend payout alongside declaring its Q3FY24 earnings.

Using the Axis Direct calculator, an investment of Rs 80,000 in March 2007, will take your investment value to Rs 1.06 crore as of January 20, 2024. Similarly, an investment of Rs 1 lakh in PAGE during its listing month, will skyrocket to Rs 1.33 crore by now. Hence, PAGE has given over Rs 1 crore returns to its investors in the longest run.

Sources: Axis Direct Calculator

Since listing, PAGE has neither declared bonus shares nor stock splits. But it holds a strong track record of paying dividends. As per Trendlyne, data, PAGE has delivered up to 64 dividends since August 2007. In the past 12 months, the company paid dividends up to Rs 270 per share. Currently, it holds a dividend yield of 0.72%.

More dividends by PAGE ahead! As per the regulatory filing, PAGE's board of directors are scheduled to meet on February 8, 2024, to consider financial results for the quarter ending December 31, 2023, and also consider the declaration of a third interim dividend dividend for FY24.

For the third interim dividend, PAGE set February 16 as the record to determine eligible shareholders.

In FY24, the company's first and second interim dividend payout was to the tune of Rs 75 per share each. Together, the company has already paid up to 1500% dividend amounting to Rs 150 per share for FY24 so far.

Should you buy PAGE stock? Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher has the answer to it.

Koothupalakkal on the onset of 2024, said, "The stock has been in consolidation for quite some time maintaining the support near 36600 zone and has indicated a breakout above the resistance zone of 38600 which is also where the confluence of significant 200 and 100 period MA lies, to improve the bias and further rise can be anticipated."

The analyst further added, "With the RSI also indicating a trend reversal has signalled a buy and has much upside potential to carry on the momentum further in the coming days. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 42500 keeping the stop loss of 37000."

Prabhudas Lilladher's analyst recommended the target price on PAGE on December 29, 2023, and has said that the call is valid for 60 days, which should be by the end of February 2024.

During the second quarter of FY24, PAGE posted a profit of Rs 1,503 million, lower by 7.3% YoY, while EBITDA stood at Rs 2,335 million lower by 1.8% YoY. The EBITDA margin achieved was 20.8% despite sluggish demand as reflected in YOY lower sales volume and value by 8.8% and 8.4% respectively. Sales volume was 51.8 million pieces, and sales revenue was Rs 11,251 million.

Despite Q2, in November last year, PAGE said, its growth strategies remain unwavering, emphasizing sustainable, long‐term expansion through enhanced consumer experiences, product diversification, operational excellence, and digital transformation. It said, "We are committed to fortifying our market share and maintaining operational margins through disciplined expense management and supply chain optimization."

PAGE that time added, "Our expansion plans for the distribution network are on track, with a strategic focus on metros, tier 2 and 3 cities. Additionally, our dedication to strengthening our online presence via the E‐Commerce channel will continue, aligning with evolving consumer buying patterns."

Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture, distribution and
marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE. Page Industries is also the exclusive licensee of Speedo International for the manufacture, marketing and distribution of the Speedo brand in India.

Jockey is the company's flagship brand and a market leader in the premium innerwear and leisure wear category. The brand is distributed in 2,790+ cities & towns and available in 118,000+ Multi Brand Outlets, 1,370+ Exclusive Brand Outlets (EBO) with extensive presence in 2,400+ Large Format Stores, as well as online. Speedo brand is available in 960+ stores and 36+ EBOs, spread across 90+ cities.

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.