AI Summary
✦ ClarthaPage Industries is an apparel manufacturer, marketer, and distributor serving men’s, women’s, and children’s innerwear, activewear, and casualwear markets. Jockey-branded innerwear, thermals, socks, and accessories remain key revenue platforms, complemented by women’s apparel and athleisure products. Revenue grew 6.4% year-on-year, while improving margins supported 4.8% profit growth despite no major recent catalyst. ROE is high at 52.5%, but debt-to-equity of 18.42 indicates substantial leverage amplifying shareholder returns. Improving margins provide some earnings support, although profit growth trails revenue growth. At 58.1x earnings, the stock appears rich relative to its 6.4% growth rate and is classified as overvalued. Neutral sentiment reflects the open question of whether future margin gains can justify the premium valuation amid high leverage.
Valuation Metrics
Trading 2.0% above historical median. Valuation is declining — currently in the fair zone (z-score: +0.13). Confidence: 89%.
Live forward EPS implies next-12-month EPS of ₹917.36. Applying the stock's normalized valuation corridor produces a fair range of ₹48,124.71 to ₹57,215.74, with base value near ₹52,298.69 (+35.3% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹917.36
Forward P/E
42.1x
Base Fair Value
₹52,298.69
Fair Range
₹48,124.71 - ₹57,215.74
Upside To Base
+35.3%
Estimate Source
Live forward EPS
Growth Estimate
+9.0%
5Y Average
57.63
Current
58.14
Overvalued
62.37
Undervalued
52.46
5Y Average
39.71
Current
38.81
Overvalued
42.39
Undervalued
36.37
5Y Average
31.00
Current
28.70
Overvalued
34.77
Undervalued
28.32
Peers & Comparison
Sector: Consumer Discretionary · Theme: Apparel & Accessories
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
ARVIND LIMITED ARVINDApparel & Accessories | +15.0% | 4.4% | 34.8x Fair | -7% vs avg | +89.3% |
PEARL GLOBAL IND LIMITED PGILApparel & Accessories | +24.5% | 5.8% | 40.4x Fair | +7% vs avg | +91.1% |
PAGE INDUSTRIES LTD trades at a premium (56.3x vs peer avg 37.6x), implying higher growth or quality expectations from the Apparel & Accessories cohort. Peers include ARVIND LIMITED, PEARL GLOBAL IND LIMITED — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹1.25K CrMar 2026Latest net profit
₹179 CrMar 2026Latest EPS
₹160.24Mar 2026Net margin
21.0%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 965 | 1,229 | 1,125 | 1,226 | 992 | 1,278 | 1,246 | 1,313 | 1,098 | 1,317 | 1,291 | 1,387 | 1,253 |
| Expenses + | 830 | 991 | 892 | 999 | 828 | 1,034 | 965 | 1,011 | 863 | 1,022 | 1,011 | 1,069 | 992 |
| Operating Profit | 134 | 239 | 234 | 226 | 164 | 243 | 281 | 303 | 235 | 295 | 280 | 318 | 261 |
| OPM % | 14% | 19% | 21% | 18% | 17% | 19% | 23% | 23% | 21% | 22% | 22% | 23% | 21% |
| Other Income + | 7 | 5 | 2 | 9 | 14 | 13 | 15 | 14 | 20 | 15 | 19 | -23 | 17 |
| Interest | 14 | 13 | 11 | 10 | 10 | 12 | 11 | 12 | 12 | 13 | 13 | 13 | 12 |
| Depreciation | 21 | 21 | 25 | 23 | 23 | 22 | 23 | 30 | 25 | 27 | 25 | 27 | 28 |
| Profit before tax | 107 | 210 | 199 | 202 | 145 | 222 | 262 | 275 | 219 | 270 | 261 | 256 | 238 |
| Tax % | 26% | 25% | 25% | 25% | 25% | 26% | 26% | 26% | 25% | 26% | 25% | 26% | 25% |
| Net Profit + | 78 | 158 | 150 | 152 | 108 | 165 | 195 | 205 | 164 | 201 | 195 | 190 | 179 |
| EPS in Rs | 70.24 | 141.98 | 134.73 | 136.59 | 97.01 | 148.13 | 175.06 | 183.49 | 147.04 | 180.03 | 174.61 | 169.93 | 160.24 |
| Raw PDF |
All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).