This marks the company’s fifth consecutive quarter crossing the Rs 10 billion mark, driven by strong order books and healthy volume growth in Vietnam and Indonesia.
Pearl Global Industries, India’s largest listed garment exporter with operations across South Asia, South-East Asia, and Central America, reported a robust start to FY26 with Q1 consolidated revenue rising 16.6 per cent year-on-year to Rs 12.28 billion. This marks the company’s fifth consecutive quarter crossing the Rs 10 billion mark, driven by strong order books and healthy volume growth in Vietnam and Indonesia.
Consolidated Q1 FY26 Highlights (Y-o-Y):
- Revenue: Rs 12.28 billion, up 16.6 per cent
- Adj. EBITDA: Rs 1.14 billion, up 13.4 per cent, margin at 9.3 per cent (~10.7 per cent excluding tariff/loss at new facilities)
- PAT: Rs 660 million, up 5.9 per cent (13.5 per cent excluding exceptional items)
- Shipments: 17.2 million pieces vs. 16.7 million in Q1 FY25
Standalone Q1 FY26 Highlights (Y-o-Y):
- Revenue: Rs 2.67 billion, down 3.4 per cent
- Adj. EBITDA: Rs 200 million, up 47.2 per cent, margin at 7.3 per cent (+250 bps)
- PAT: Rs 260 million, up 62.6 per cent
During the quarter, PGIL received Rs 180 million in dividends from its Bangladesh and Hong Kong subsidiaries, reinforcing strong cash generation across the group.
Strategic Outlook:
Pulkit Seth, Vice-Chairman & Non-Executive Director, said the results underscore PGIL’s “consistency, executional discipline, and the strength of its multi-geography model,†with sustained momentum in Vietnam and Indonesia offsetting tariff headwinds.
Pallab Banerjee, Managing Director, noted that tariff-related impacts are being mitigated by shifting US-bound production to favourable hubs such as Vietnam, Indonesia, Bangladesh, and Guatemala, while India focuses on FTA-driven markets like the UK, Japan, and Australia.
PGIL continues to invest in capacity expansion in Bangladesh, with a long-term focus on operational excellence, diversified market growth, and delivering on its FY28 goals.