Demand trajectory, valuations weigh on Page Ind despite stellar Q3 show

The company posted a strong Q3 led by higher athleisure sales

For the second quarter in a row, Page Industries outperformed its listed apparel peers on the sales growth front. The country’s largest listed innerwear company posted a 17 per cent YoY growth in the December quarter, even as sales of most other apparel companies reported a decline as compared to the year-ago period. Revenue gains were led by volume growth of 10 per cent, which came after four consecutive quarters of volume decline.

In addition to festival demand, higher seasonal demand for thermal wear aided volume and revenue growth. The easing of lockdown conditions led to the opening of more than