Page industries

Thanks Sumit, nice points for discussion. Couple of points though –

1. How can we generally have both deflation and volume expansion de-growth? With prices falling shouldn’t people start buying more of what they need (pent up demand)?

2. With economy turning around (IF), I’m looking at this high volume growth to offset the no/lesser annual price hikes.

3. IF there is volume de-growth coupled with inability to increase prices for a company like PAGE, imagine what will happen to other consumer companies like Whirlpool, Hawkins -> Disaster!

4. Asian paints with 10% (approx.) growth commands a good high PE, so I think Page could sustain premium valuations ALBEIT may not be as much as we are used to?