Page FY 16 Q2 results are out:
Revenue growth about 16% and Profit growth about 20%. It looks like Page is slowing down a bit. I’m concerned with the high valuations and as I see it upside is capped and is either open to a bit lower levels or under go time correction. 16% top line growth is good in this environment but I think the current valuations more than capture this kind of growth.
Balance sheet – Company paid off short term borrowings with the profits during the year, so finance costs may go down a bit in coming quarters.
It looks like there is minimal benefit of cotton prices falling so far on the P&L. So the full year EPS could be around 220. Also, I do not see any increase in other expenses where the company could be showing advertising expenses. Strange, something is amiss here for my brain.
As usual, dividend of 21 INR.
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