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Page Industries: Buy; PT Rs2200
The company plans to increase annual capacity from 87mn in FY12 to
110mn in FY13 and 140mn in FY14. Existing physical infrastructure can
support this expansion and only additional equipment and labor is required.
Management expects sales volumes to grow at 25% for FY12 and revenues
at 35%. Only 10% of target market penetrated so long-term outlook remains
positive
Leisurewear continues to be the fastest growing segment. The company
earlier estimated 1% drop in EBITDA margins for FY12 given the rising
cotton prices but with the cotton prices softening now again, it might be able
to maintain its previous year margins, as per the management
No demand slowdown seen despite 30% increase in prices last year.
Page takes care of wage inflation (around 15%) through price increases.
The company expects to begin sales in U.A.E market by middle or end of
this year.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Page Industries: Buy; PT Rs2200
The company plans to increase annual capacity from 87mn in FY12 to
110mn in FY13 and 140mn in FY14. Existing physical infrastructure can
support this expansion and only additional equipment and labor is required.
Management expects sales volumes to grow at 25% for FY12 and revenues
at 35%. Only 10% of target market penetrated so long-term outlook remains
positive
Leisurewear continues to be the fastest growing segment. The company
earlier estimated 1% drop in EBITDA margins for FY12 given the rising
cotton prices but with the cotton prices softening now again, it might be able
to maintain its previous year margins, as per the management
No demand slowdown seen despite 30% increase in prices last year.
Page takes care of wage inflation (around 15%) through price increases.
The company expects to begin sales in U.A.E market by middle or end of
this year.
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