Key Points
In this backdrop, March quarter results (Q4FY23) show growth momentum slowed further...
Volumes were impacted by muted demand and ARS implementation," said the companys management. ..
The upshot is that Pages Ebitda halved to 134 crore and margin contracted sharply by 1018 basis points to 13.9%, a multi-quarter low. ..
The ARS will take two more quarters to streamline, and April has seen a weak start year-on-year, so FY24 performance could be lower than expected..
The stocks valuation is not attractive enough given the challenges such as stiff competition in the womens wear segment (from MNC and D2C brands)," said Varun Singh, AVP at ICICI Securities..
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