Volume pickup key to gains for Page Industries

Company aims to hit double-digit revenue growth ahead

- RAM PRASAD SAHU

The stock of innerwear major Page Industries hit its lowest level in the last year and half.

From its 52-week high on June 27 this year at ₹5o,471, it has shed about 32 per cent and is currently trading at ₹38,356.

In addition to a muted performance in the September quarter (Q2FY26), brokerages have cut earnings estimates citing muted demand, delayed volume recovery and slower expansion. At the current price, the stock is trading at 49 times its FY27 earnings estimates.

A subdued demand environment hit its volume performance over the last couple of quarters. The company’s Q2 revenues was up 3.6 per cent on the back of a 2.5 percent growth in volumes to 56.6 million pieces. This is the second consecutive quarter of low single digit volume growth due to weak demand in the early part of Q2, lower secondary offtake across categories and higher sales towards the end of the quarter.