Pearl Global Industries Reports 12.7% YoY Revenue Growth, Reaches INR 2,541 Crore in H1FY26

Pearl Global Industries continues growth momentum in H1FY26, revenue crossed INR 2,500 crore, stands at INR 2,541 crore, growth of 12.7Percent Y-o-Y

New Delhi, 12th November, 2025: Pearl Global Industries Limited (PGIL) (BSE: 532808, NSE: PGIL), one of India’s largest listed garment exporters with manufacturing operations across South Asia, South-East Asia, and Central America, announced its unaudited financial results for the quarter and half-year ended September 30, 2025.

Consolidated Financial Highlights H1FY26

• Revenue surpassed the ₹2,500 crore milestone, reaching ₹2,541 crore, up 12.7% YoY, driven by strong value-added sales from Vietnam and Indonesia.

• Adjusted EBITDA rose 18.4% YoY to ₹236 crore, with margins improving 45 bps to 9.3%.

• Excluding tariff costs (~₹21 crore) and losses from new facilities (Guatemala & Bihar), EBITDA margin stood at 10.6%.

• PAT grew 17.0% YoY to ₹138 crore.

Consolidated Financial Highlights – Q2FY26

• Revenue: ₹1,313 crore, up 9.2% YoY.

• Adjusted EBITDA (excl. ESOP expense): ₹122 crore, up 23.6% YoY, with margins improving 108 bps to 9.3%.

• Excluding tariff costs/losses at new facilities, margins stood at 10.1%.

• PAT: ₹72 crore, marking a 29.4% YoY increase.

Standalone Highlights – H1FY26

• Revenue: ₹531 crore.

• Adjusted EBITDA: ₹30 crore, up 72.7% YoY, with margins improving 258 bps to 5.7%.

• Excluding tariff costs (~₹8 crore), margin stood at 7.2%.

• PAT: ₹41 crore, up from ₹27 crore in H1FY25.

Balance Sheet & Operational Highlights

• Net Worth: ₹1,271 crore as of September 30, 2025, up from ₹1,146 crore as of March 31, 2025.

• Cash & Bank Balance: ₹416 crore (excluding LC payments), plus ₹128 crore in mutual funds, totaling ₹544 crore.

• ROCE: Improved 375 bps to 29.0% in H1FY26.

• Working Capital Days: 33 days.

• Shipped 19.9 million pieces in Q2FY26 — the highest ever for the quarter.

• Declared an interim dividend of ₹6.00 per share (20% payout ratio and 120% of face value).

• Dividends of ₹32 crore received from subsidiaries in Bangladesh and Hong Kong.

• Adopted eFlow Nanobubble Technology in Bangladesh, enabling up to 32% water savings, 9% lower power use, and 20% faster processing.

Management Commentary

Mr. Pulkit Seth, Vice-Chairman & Non-Executive Director, said:

“We are pleased to report another strong performance in H1FY26, with consolidated revenue crossing ₹2,500 crore. Our multi-country manufacturing model continues to demonstrate resilience and scalability, supported by robust growth in Vietnam and Indonesia. With this momentum, we remain focused on sustainable, profitable growth anchored in agility, technology, and stakeholder value creation.”

Mr. Pallab Banerjee, Managing Director, added:

“Our Q2FY26 performance reflects operational strength and strategic diversification. Revenue grew 9.2% YoY despite a challenging tariff environment, and profitability improved significantly. The U.S. now contributes about 50% of revenue, down from 86% in FY21, underscoring the success of our geographic diversification. Continued investments in India and Bangladesh, supported by our ₹250 crore capex plan, are driving efficiency, capacity expansion, and digital transformation.”