External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

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<li>Page Industries (PAGE) Q1FY23 topline was a healthy beat to our and street estimates.</li>
<li>Revenue of Rs 1,341 Cr (our estimates - Rs 1213 Cr), was up 167% YoY (~17% on 3-yr CAGR) and was led by strong volume growth of 150% YoY (~10% on 3-yr CAGR) to 65 Mn pieces as well as a richer price mix.</li>
<li>The company posted Gross Margins (GM) of 54.5% vs. our expectations of 55%, down ~322bps YoY on account of higher inflation in cotton and packing materials.</li>
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<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>






Page Industries (PAGE) Q1FY23 topline was a healthy beat to our and street estimates.
Revenue of Rs 1,341 Cr (our estimates - Rs 1213 Cr), was up 167% YoY (~17% on 3-yr CAGR) and was led by strong volume growth of 150% YoY (~10% on 3-yr CAGR) to 65 Mn pieces as well as a richer price mix.
The company posted Gross Margins (GM) of 54.5% vs. our expectations of 55%, down ~322bps YoY on account of higher inflation in cotton and packing materials.





Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Page Industries - Robust Performance; Rich Valuations