Key Points
Page Industries share price tanked 13% to Rs 35,766 today after the companys net profit in Q4FY23 fell 58.9% on-year to Rs 78.35 crore, from Rs 190.52 crore in the corresponding quarter previous year..
Most analysts have downgraded the stock rating to sell or hold and have cut their target prices..
Page Industries stock has fallen over 12% in the past one month, and nearly 14% in the past one year...
We trim our FY24E PAT by 23%; FY25E PAT cut is much lower at 6% as we expect the implementation to be transient with growth likely improving H2FY24 onwards and continuing into FY25..
However, since the valuation at 53x FY25E EPS is expensive, we reiterate Neutral with a target price of Rs 37,200. said analysts at Motilal Oswal...
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