Established in 1995, Page Industries Limited holds the prestigious position as the exclusive licensee for JOCKEY® and Speedo brands in key South Asian and Middle Eastern markets. With a strong foothold in India, Sri Lanka, Bangladesh, Nepal, and the UAE, Page Industries is renowned for its manufacturing, distribution, and marketing prowess in the intimate apparel and swimwear sectors.
This article delves into the comprehensive journey of Page Industries, exploring its partnerships, market reach, growth strategies, and impact on the industry. Join us as we uncover the success story and operational excellence of this dynamic licensing powerhouse.
About Page Industries
Jockey, a globally renowned brand, operates in over 147 countries, offering a diverse range of products. In India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan, and the UAE, Jockey’s presence is managed exclusively by Page Industries Limited. As the licensee for JOCKEY International Inc. (USA), Page Industries oversees manufacturing, distribution, and marketing activities across these regions. Jockey’s product portfolio encompasses innerwear, athleisure, socks for men and women, thermal wear, towels, handkerchiefs, caps, and face masks, catering to a wide consumer base.
The brand’s geographical reach is extensive, with distribution spanning across 2,750+ cities and towns. Jockey products are available in over 110,000 multi-brand outlets, and 1,394 exclusive brand outlets (EBOs), and are prominently featured in 2,300+ large-format stores, in addition to an online presence. This strategic distribution network ensures accessibility and availability of Jockey products to a diverse customer demographic, reinforcing Jockey’s reputation as a leading global apparel brand.
Key Highlights from Page Industries’ Q3 FY24 Performance
- Page Industries reported a net profit of Rs 152 crore for the December quarter of FY24, a 23% increase from the same quarter in the previous financial year.
- Total revenue for the quarter was Rs 1,229 crore, up by 2.4% compared to the year-ago quarter.
- Earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 19% to Rs 230 crore, with an improved EBIDTA margin of 18.7% compared to 16.1% YoY.
- The company attributed its success to strategic sales practices and meticulous inventory management, adapting to changing consumer spending patterns.
- Page Industries declared a 3rd Interim Dividend for fiscal year 2023-24 at Rs. 100 per equity share, with a record date of February 16, 2024, and scheduled payment by or before March 8, 2024.
- The company remains optimistic about sustained growth by focusing on operational improvements, digital innovations, and expanding its e-commerce platform to enhance consumer access and experience.
Below are the trading platforms that you can use to purchase Page Industries shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| May 2024 | 37,105.56 | 32,265.70 |
| June 2024 | 38,441.36 | 33,427.27 |
| July 2024 | 38,056.95 | 33,093.00 |
| August 2024 | 39,579.22 | 34,416.72 |
| September 2024 | 41,162.39 | 35,793.39 |
| October 2024 | 40,355.29 | 35,091.55 |
| November 2024 | 41,565.95 | 36,144.30 |
| December 2024 | 42,605.09 | 37,047.91 |
Page Industries’ share price targets for 2024 show a positive trajectory, with projected maximum prices ranging from ₹32,265.70 in May to ₹42,605.09 in December. These forecasts reflect a potential upward trend, indicating growth opportunities for investors.
The company’s current market capitalization stands at ₹38,325 crore, with a stock price of ₹34,357 as of May 9th, 2024, trading within a high/low range of ₹43,599 to ₹33,070. The stock’s price-to-earnings (P/E) ratio is 71.1, and the book value is ₹1,372. These metrics provide insights into the company’s valuation and performance relative to market expectations and fundamentals.
| When | Maximum Price | Minimum Price |
| January 2025 | 43,457.20 | 33,428.61 |
| February 2025 | 44,571.48 | 34,285.76 |
| March 2025 | 46,309.77 | 35,622.90 |
| April 2025 | 45,401.74 | 34,924.41 |
| May 2025 | 44,079.36 | 33,907.20 |
| June 2025 | 46,062.93 | 35,433.02 |
| July 2025 | 45,159.73 | 34,738.26 |
| August 2025 | 46,556.43 | 35,812.64 |
| September 2025 | 48,185.90 | 37,066.08 |
| October 2025 | 49,438.73 | 38,029.80 |
| November 2025 | 50,674.70 | 38,980.54 |
| December 2025 | 51,941.57 | 39,955.05 |
Page Industries’ share price targets for 2025 indicate a bullish outlook, with projected maximum prices ranging from ₹43,457.20 in January to ₹51,941.57 in December, and minimum prices ranging from ₹33,428.61 in January to ₹39,955.05 in December. These forecasts suggest potential growth opportunities for investors over the year.
Page Industries holds exclusive licensing rights from Speedo International Ltd. for the manufacturing, distribution, and marketing of Speedo products in India. Speedo International Ltd., based in Nottingham, UK, specializes in swimwear and swimming accessories, adding to Page Industries’ diverse portfolio and market presence.
| When | Maximum Price | Minimum Price |
| January 2026 | 53,499.82 | 41,153.71 |
| February 2026 | 54,871.61 | 42,208.93 |
| March 2026 | 57,011.60 | 43,855.08 |
| April 2026 | 55,893.73 | 42,995.17 |
| May 2026 | 54,265.75 | 41,742.89 |
| June 2026 | 56,707.71 | 43,621.32 |
| July 2026 | 55,595.80 | 42,766.00 |
| August 2026 | 57,315.25 | 44,088.66 |
| September 2026 | 59,321.29 | 45,631.76 |
| October 2026 | 60,863.64 | 46,818.18 |
| November 2026 | 62,385.23 | 47,988.64 |
| December 2026 | 63,944.86 | 49,188.36 |
Page Industries’ share price targets for 2026 demonstrate an optimistic trend, with projected maximum prices ranging from ₹53,499.82 in January to ₹63,944.86 in December, and minimum prices ranging from ₹41,153.71 in January to ₹49,188.36 in December. These forecasts highlight potential growth prospects for investors over the course of the year.
Page Industries, in addition to its exclusive licensing of Jockey products, holds the license for manufacturing, distribution, and marketing of Speedo products in India. Speedo’s product portfolio includes swimwear, equipment, water shorts, apparel, and footwear, complementing Page Industries’ offerings. With a distribution network encompassing over 1,13,688 retail outlets, 1,394 exclusive brand stores, and a strong e-commerce presence on platforms like Jockey.in, Speedo.in, Amazon, Myntra, and Flipkart, Page Industries is well-positioned for continued expansion and market penetration.
| When | Maximum Price | Minimum Price |
| January 2027 | 65,223.76 | 50,172.12 |
| February 2027 | 66,896.16 | 51,458.59 |
| March 2027 | 69,505.11 | 53,465.47 |
| April 2027 | 68,142.27 | 52,417.13 |
| May 2027 | 66,157.54 | 50,890.42 |
| June 2027 | 69,134.63 | 53,180.49 |
| July 2027 | 67,779.05 | 52,137.73 |
| August 2027 | 69,875.31 | 53,750.24 |
| September 2027 | 72,320.95 | 55,631.50 |
| October 2027 | 74,201.29 | 57,077.92 |
| November 2027 | 76,056.32 | 58,504.86 |
| December 2027 | 77,957.73 | 59,967.49 |
Page Industries’ share price targets for 2027 demonstrate a strong upward trajectory, with projected maximum prices ranging from ₹65,223.76 in January to ₹77,957.73 in December, and minimum prices ranging from ₹50,172.12 in January to ₹59,967.49 in December. These forecasts indicate significant potential for growth and value appreciation over the course of the year. In addition to its promising market outlook, Page Industries boasts impressive production capacities.
The company operates 15 manufacturing units spread over 2.2 million square feet across Karnataka and Tamil Nadu, with a production capacity of 280 million pieces per annum. More than 70% of manufacturing is done in-house, leveraging strong backward integration to support operational efficiency and quality control.
| When | Maximum Price | Minimum Price |
| January 2028 | 79,516.89 | 61,166.83 |
| February 2028 | 81,555.78 | 62,735.22 |
| March 2028 | 84,736.46 | 65,181.89 |
| April 2028 | 83,074.96 | 63,903.81 |
| May 2028 | 80,655.30 | 62,042.54 |
| June 2028 | 84,284.79 | 64,834.45 |
| July 2028 | 82,632.14 | 63,563.19 |
| August 2028 | 85,187.78 | 65,529.06 |
| September 2028 | 88,169.35 | 67,822.58 |
| October 2028 | 90,461.75 | 69,585.96 |
| November 2028 | 92,723.30 | 71,325.61 |
| December 2028 | 95,041.38 | 73,108.75 |
- January 2028: ₹61,166.83 (Minimum)
- December 2028: ₹95,041.38 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2029 | 96,942.20 | 74,570.93 |
| February 2029 | 99,427.90 | 76,483.00 |
| March 2029 | 103,305.59 | 79,465.84 |
| April 2029 | 101,279.99 | 77,907.69 |
| May 2029 | 98,330.09 | 75,638.53 |
| June 2029 | 102,754.94 | 79,042.26 |
| July 2029 | 100,740.14 | 77,492.41 |
| August 2029 | 103,855.81 | 79,889.09 |
| September 2029 | 107,490.77 | 82,685.21 |
| October 2029 | 110,285.53 | 84,835.02 |
| November 2029 | 113,042.67 | 86,955.90 |
| December 2029 | 115,868.73 | 89,129.79 |
- January 2029: ₹74,570.93(Minimum)
- December 2029: ₹115,868.73 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2030 | 118,186.11 | 90,912.39 |
| February 2030 | 121,216.52 | 93,243.48 |
| March 2030 | 125,943.96 | 96,879.97 |
| April 2030 | 123,474.47 | 94,980.37 |
| May 2030 | 119,878.13 | 92,213.95 |
| June 2030 | 125,272.65 | 96,363.57 |
| July 2030 | 122,816.32 | 94,474.09 |
| August 2030 | 126,614.76 | 97,395.97 |
| September 2030 | 131,046.28 | 100,804.83 |
| October 2030 | 134,453.48 | 103,425.76 |
| November 2030 | 137,814.82 | 106,011.40 |
| December 2030 | 141,260.19 | 108,661.69 |
- January 2030: ₹90,912.39 (Minimum)
- December 2030: ₹141,260.19 (Maximum)
Financial Condition of Page Industries: Last 5 Years
| Financials | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Sales (Rs. Crores) | 2,852 | 2,946 | 2,833 | 3,886 | 4,789 |
| Expenses (Rs. Crores) | 2,234 | 2,412 | 2,305 | 3,099 | 3,925 |
| Operating Profit (Rs. Crores) | 618 | 533 | 528 | 787 | 864 |
| Other Income (Rs. Crores) | 36 | 25 | 19 | 21 | 15 |
| Interest (Rs. Crores) | 17 | 34 | 30 | 34 | 43 |
| Depreciation (Rs. Crores) | 31 | 61 | 63 | 65 | 78 |
| Profit Before Tax (Rs. Crores) | 606 | 462 | 453 | 709 | 758 |
| Net Profit (Rs. Crores) | 394 | 343 | 341 | 537 | 571 |
| EPS (Rs.) | 353.19 | 307.71 | 305.35 | 481.02 | 512.15 |
- Over the past five years, Page Industries has demonstrated consistent growth and financial stability.
- The company’s sales have steadily increased from Rs. 2,852 crores in 2019 to Rs. 4,789 crores in 2023, reflecting a robust upward trajectory.
- Despite rising expenses, particularly notable in 2022 and 2023, Page Industries has effectively managed its operations to maintain a healthy operating profit.
- Supplementary income from other sources has contributed modestly to the company’s overall earnings.
- Page Industries has consistently managed interest payments, with manageable fluctuations over the years.
- Depreciation costs have grown in line with the company’s expanding operations and asset base.
- Profit before tax and net profit margins have shown remarkable growth, highlighting the efficiency and profitability of Page Industries’ business model.
- Earnings per share (EPS) has significantly increased from Rs. 353.19 in 2019 to Rs. 512.15 in 2023, reflecting positively on the company’s financial performance and shareholder value creation.
FAQs
What is Page Industries’ current market capitalization?
Page Industries’ current market capitalization is ₹38,325 crore.
As of May 9th, 2024, the current share price of Page Industries is ₹34,357.
The projected share price targets for Page Industries in 2025 range from ₹43,457.20 to ₹51,941.57, indicating potential growth opportunities.
The forecasted share price targets for Page Industries in 2030 range from ₹118,186.11 to ₹141,260.19, reflecting significant long-term growth potential.
What is the company’s current price-to-earnings (P/E) ratio?
Page Industries’ current stock price-to-earnings (P/E) ratio is 71.1.
What is the dividend payout history of Page Industries?
Page Industries’ dividend payout percentage has ranged from 41% to 97% over recent years.
What factors contributed to Page Industries’ Q3 FY24 performance
Strategic sales practices, adaptive strategies, and sustainable inventory management were key contributors to Page Industries’ Q3 FY24 performance.
How has Page Industries’ net profit margin trended over the last five years?
Page Industries’ net profit margin has shown growth, reaching ₹571 crores in FY23 from ₹394 crores in FY19.
What has been the trend in EPS for Page Industries over the past five years?
Page Industries’ EPS has significantly increased from ₹353.19 in 2019 to ₹512.15 in 2023, demonstrating strong growth.
Also Read
- 5PAISA CAPITAL SHARE PRICE TARGET 2024, 2025, 2026 TO 2030
- Force Motors Ltd Share Price Target 2024, 2025, 2026 To 2030
- ASTRAL SHARE PRICE TARGET 2024, 2025 TO 2030: CAN ASTRAL REACH INR 5000 BY 2025?
Strategic Insights: Concluding Page Industries’ Success Journey
In conclusion, Page Industries Limited has firmly established itself as a key player in the intimate apparel and swimwear sectors through its exclusive licensing agreements with renowned brands like JOCKEY® and Speedo. The company’s robust distribution network and strategic focus on manufacturing, distribution, and marketing have enabled widespread consumer access across South Asia and the Middle East.
Financially, Page Industries has shown consistent growth in sales and net profit over the past five years, driven by operational efficiency and adaptive sales strategies. Despite facing challenges such as increased working capital days and a decline in promoter holding, the company maintains a healthy return on equity (ROE) and a strong dividend payout record.
Looking forward, Page Industries’ ambitious share price targets suggest promising growth potential, supported by ongoing digital innovation and operational improvements. With a solid foundation in place and a clear trajectory for expansion, Page Industries continues to offer compelling investment opportunities within the apparel industry, poised to deliver sustained value to its stakeholders.
What did we learn?
- 1 About Page Industries
- 2 Key Highlights from Page Industries’ Q3 FY24 Performance
- 3 How to Purchase Page Industries Shares in India?
- 4 Page Industries Share Price Target 2024 – 2030
- 4.1 Page Industries Share Price Target 2024
- 4.2 Page Industries Share Price Target 2025
- 4.3 Page Industries Share Price Target 2026
- 4.4 Page Industries Share Price Target 2027
- 4.5 Page Industries Share Price Target 2028
- 4.6 Page Industries Share Price Target 2029
- 4.7 Page Industries Share Price Target 2030
- 5 Financial Condition of Page Industries: Last 5 Years
- 6 FAQs
- 6.1 What is Page Industries’ current market capitalization?
- 6.2 What is the current share price of Page Industries?
- 6.3 What are the projected share price targets for Page Industries in 2025?
- 6.4 What are the forecasted share price targets for Page Industries in 2030?
- 6.5 What is the company’s current price-to-earnings (P/E) ratio?
- 6.6 What is the dividend payout history of Page Industries?
- 6.7 What factors contributed to Page Industries’ Q3 FY24 performance
- 6.8 How has Page Industries’ net profit margin trended over the last five years?
- 6.9 What has been the trend in EPS for Page Industries over the past five years?
- 7 Strategic Insights: Concluding Page Industries’ Success Journey
