On consolidated basisQuarter ended June 2026 compared with Quarter ended June 2025.
Net sales (including other operating income) of Pearl Global Industries has increased 24.46% to Rs 1528.26 crore. Sales of Hong Kong segment rose 13.89% to Rs 1,120.42 crore (accounting for 44.01% of total sales). Sales of India segment has gone up 28.79% to Rs 343.44 crore (accounting for 13.49% of total sales). Sales of Bangladesh segment has gone up 34.41% to Rs 444.18 crore (accounting for 17.45% of total sales). Sales of Others segment has gone up 193.81% to Rs 228.10 crore (accounting for 8.96% of total sales). Sales of Vietnam segment has gone up 21.62% to Rs 409.54 crore (accounting for 16.09% of total sales). Inter-segment sales rose Rs 767.35 crore to Rs 1,017.41 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 40.96% to Rs 146.14 crore. PBIT of Hong Kong segment fell 40.62% to Rs 25.26 crore (accounting for 17.28% of total PBIT). PBIT of India segment rose 37.18% to Rs 16.67 crore (accounting for 11.41% of total PBIT). PBIT of Bangladesh segment rose 47.07% to Rs 28.13 crore (accounting for 19.25% of total PBIT). PBIT of Others reported profit of Rs 14.34 crore compared to loss of Rs 8.31 crore. PBIT of Vietnam segment rose 61.75% to Rs 61.75 crore (accounting for 42.25% of total PBIT). PBIT margin of Hong Kong segment fell from 4.32% to 2.25%. PBIT margin of India segment rose from 4.56% to 4.85%. PBIT margin of Bangladesh segment rose from 5.79% to 6.33%. PBIT margin of Others segment rose from negative 10.70% to 6.29%. PBIT margin of Vietnam segment rose from 11.34% to 15.08%. Overall PBIT margin rose from 5.20% to 5.74%. Operating profit margin has jumped from 9.16% to 10.72%, leading to 45.74% rise in operating profit to Rs 163.84 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 43.20% to 41.23%. Purchase of finished goods cost rose from 11.03% to 11.53%. Employee cost decreased from 17.77% to 16.28%. Other expenses rose from 18.90% to 21.13%. Other income fell 5.22% to Rs 10.71 crore. PBIDT rose 41.08% to Rs 174.55 crore. Provision for interest fell 2.82% to Rs 26.58 crore. PBDT rose 53.54% to Rs 147.97 crore. Provision for depreciation rose 30.17% to Rs 25.67 crore. Profit before tax grew 59.56% to Rs 122.30 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs -2.73 crore. Provision for tax was expense of Rs 20.33 crore, compared to Rs 10.77 crore. Effective tax rate was 17.00% compared to 14.11%. Minority interest increased 43.81% to Rs -1.27 crore. Net profit attributable to owners of the company increased 48.20% to Rs 100.51 crore. Promoters? stake was 61.11% as of 30 June 2026 ,compared to 62.78% as of 30 June 2025 .
Full year results analysis.
Net sales (including other operating income) of Pearl Global Industries has increased 11.50% to Rs 5024.6 crore. Sales of Hong Kong segment rose 9.27% to Rs 3,937.06 crore (accounting for 48.12% of total sales). Sales of India segment has gone down 8.50% to Rs 1,094.46 crore (accounting for 13.38% of total sales). Sales of Bangladesh segment has gone up 13.62% to Rs 1,691.51 crore (accounting for 20.67% of total sales). Sales of Others segment has gone up 29.83% to Rs 474.33 crore (accounting for 5.80% of total sales). Sales of Vietnam segment has gone up 54.55% to Rs 984.44 crore (accounting for 12.03% of total sales). Inter-segment sales rose Rs 2,783.86 crore to Rs 3,157.21 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 12.55% to Rs 412.53 crore. PBIT of Hong Kong segment fell 7.67% to Rs 163.32 crore (accounting for 39.59% of total PBIT). PBIT of India segment fell 28.10% to Rs 46.77 crore (accounting for 11.34% of total PBIT). PBIT of Bangladesh segment rose 3.39% to Rs 120.18 crore (accounting for 29.13% of total PBIT). PBIT of Others segment rose 77.11% to Rs -8.79 crore (accounting for -2.13% of total PBIT). PBIT of Vietnam segment rose 94.80% to Rs 91.05 crore (accounting for 22.07% of total PBIT). PBIT margin of Hong Kong segment fell from 4.91% to 4.15%. PBIT margin of India segment fell from 5.44% to 4.27%. PBIT margin of Bangladesh segment fell from 7.81% to 7.10%. PBIT margin of Others segment rose from negative 10.51% to negative 1.85%. PBIT margin of Vietnam segment rose from 7.34% to 9.25%. Overall PBIT margin rose from 5.03% to 5.04%. Operating profit margin has jumped from 8.96% to 9.23%, leading to 14.93% rise in operating profit to Rs 463.89 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.60% to 42.40%. Purchase of finished goods cost fell from 12.72% to 10.32%. Employee cost increased from 18.36% to 18.91%. Other expenses fell from 19.50% to 19.19%. Other income rose 10.67% to Rs 37.13 crore. PBIDT rose 14.60% to Rs 501.02 crore. Provision for interest rose 4.06% to Rs 103.22 crore. Loan funds rose to Rs 942.85 crore as of 31 March 2026 from Rs 772.98 crore as of 31 March 2025. Inventories rose to Rs 882.47 crore as of 31 March 2026 from Rs 705.13 crore as of 31 March 2025. Sundry debtors were higher at Rs 407.30 crore as of 31 March 2026 compared to Rs 324.40 crore as of 31 March 2025. Cash and bank balance rose to Rs 747.39 crore as of 31 March 2026 from Rs 566.40 crore as of 31 March 2025. Investments rose to Rs 35.65 crore as of 31 March 2026 from Rs 24.27 crore as of 31 March 2025 . PBDT rose 17.70% to Rs 397.8 crore. Provision for depreciation rose 16.02% to Rs 87.27 crore. Fixed assets increased to Rs 902.47 crore as of 31 March 2026 from Rs 748.44 crore as of 31 March 2025. Intangible assets increased from Rs 22.32 crore to Rs 28.98 crore. Profit before tax grew 18.18% to Rs 310.53 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 39.28 crore, compared to Rs 36.56 crore. Effective tax rate was 12.70% compared to 13.68%. Minority interest increased 56.55% to Rs -7.63 crore. Net profit attributable to owners of the company increased 11.81% to Rs 277.65 crore. Equity capital increased from Rs 22.97 crore as of 31 March 2025 to Rs 23.07 crore as of 31 March 2026. Per share face Value remained same at Rs 5.00. Promoters? stake was 61.16% as of 31 March 2026 ,compared to 62.81% as of 31 March 2025 . Cash flow from operating activities increased to Rs 398.34 crore for year ended March 2026 from Rs 176.39 crore for year ended March 2025. Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 191.32 crore, compared to Rs 119.11 crore during the year ended March 2025.
Operating highlights:
The company shipped 20.8 million pieces in Q1FY27, the highest ever in Q1 series, up from 17.2 million pieces in Q1FY26.
Management Commentary:
Commenting on the Results, Dr. Deepak Kumar Seth, Chairman & Non-Executive Director, said: ?The global business environment continues to evolve, shaped by geopolitical developments, shifting trade dynamics, and changing supply chain priorities. In such an environment, resilience, adaptability, and long-term thinking remain the defining attributes of successful businesses. I am pleased to share that Pearl Global has commenced the new financial year on a strong footing. Our first-quarter performance reflects the strength of our diversified manufacturing platform, the trust of our global customers, and the disciplined execution of our teams. It is an encouraging start that reaffirms the resilience of our business model and the effectiveness of the strategy we have built over the years. Beyond business performance, our commitment to responsible and sustainable growth remains unwavering. Strong corporate governance, investment in our people, community development, and environmental stewardship continue to be integral to the way we operate and create enduring value for all our stakeholders. As we look ahead, we remain excited about the opportunities and mindful of the challenges presented by the evolving global landscape. Guided by a strong governance framework, an experienced leadership team, and the dedication of our employees across geographies, we remain confident in Pearl Global`s ability to build on this positive momentum and strengthen its position as a trusted global apparel manufacturing partner.?
| Pearl Global Industries : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202606 | 202506 | Var.(%) | 202603 | 202503 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,528.26 | 1,227.92 | 24.46 | 5,024.60 | 4,506.29 | 11.50 | | OPM (%) | 10.72 | 9.16 | 157 bps | 9.23 | 8.96 | 28 bps | | OP | 163.84 | 112.42 | 45.74 | 463.89 | 403.63 | 14.93 | | Other Inc. | 10.71 | 11.30 | -5.22 | 37.13 | 33.55 | 10.67 | | PBIDT | 174.55 | 123.72 | 41.08 | 501.02 | 437.18 | 14.60 | | Interest | 26.58 | 27.35 | -2.82 | 103.22 | 99.19 | 4.06 | | PBDT | 147.97 | 96.37 | 53.54 | 397.80 | 337.99 | 17.70 | | Depreciation | 25.67 | 19.72 | 30.17 | 87.27 | 75.22 | 16.02 | | PBT | 122.30 | 76.65 | 59.56 | 310.53 | 262.77 | 18.18 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 122.3 | 76.65 | 59.56 | 310.53 | 262.77 | 18.18 | | EO Income | -2.73 | -0.32 | -753.13 | -1.23 | 4.56 | PL | | PBT after EO | 119.57 | 76.33 | 56.65 | 309.3 | 267.33 | 15.70 | | Taxation | 20.33 | 10.77 | 88.77 | 39.28 | 36.56 | 7.44 | | PAT | 99.24 | 65.56 | 51.37 | 270.02 | 230.77 | 17.01 | | Minority Interest (MI) | -1.27 | -2.26 | 43.81 | -7.63 | -17.56 | 56.55 | | Net profit | 100.51 | 67.82 | 48.20 | 277.65 | 248.33 | 11.81 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 100.51 | 67.82 | 48.20 | 277.65 | 248.33 | 11.81 | | EPS (Rs)* | 22.26 | 14.75 | 50.93 | 60.35 | 52.84 | 14.20 | | | * EPS is on current equity of Rs 23.10 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Pearl Global Industries : Consolidated Segment Results |
| | Quarter ended | Year ended |
|---|
| % of (Total) | 202606 | 202506 | Var.(%) | % of (Total) | 202603 | 202503 | Var.(%) |
|---|
| Sales | | United States | 0.00 | 0.00 | 0.00 | - | | United Kingdom | 0.00 | 0.00 | 0.00 | - | | Hong Kong | 44.01 | 1,120.42 | 983.78 | 13.89 | 48.12 | 3,937.06 | 3,602.94 | 9.27 | | India | 13.49 | 343.44 | 266.66 | 28.79 | 13.38 | 1,094.46 | 1,196.14 | -8.50 | | Bangladesh | 17.45 | 444.18 | 330.45 | 34.41 | 20.67 | 1,691.51 | 1,488.78 | 13.62 | | Others | 8.96 | 228.10 | 77.63 | 193.81 | 5.80 | 474.33 | 365.35 | 29.83 | | South Africa | 0.00 | 0.00 | 0.00 | - | | Vietnam | 16.09 | 409.54 | 336.74 | 21.62 | 12.03 | 984.44 | 636.95 | 54.55 | | Total Reported Sales | 100.00 | 2,545.67 | 1,995.27 | 27.59 | 100.00 | 8,181.81 | 7,290.15 | 12.23 | | Less: Inter segment revenues | | 1,017.41 | 767.35 | 32.59 | | 3,157.21 | 2,783.86 | 13.41 | | Net Sales | 100.00 | 1,528.26 | 1,227.92 | 24.46 | 100.00 | 5,024.60 | 4,506.29 | 11.50 | | PBIT | | United States | 0.00 | 0.00 | 0.00 | - | | United Kingdom | 0.00 | 0.00 | 0.00 | - | | Hong Kong | 17.28 | 25.26 | 42.53 | -40.62 | 39.59 | 163.32 | 176.88 | -7.67 | | India | 11.41 | 16.67 | 12.15 | 37.18 | 11.34 | 46.77 | 65.06 | -28.10 | | Bangladesh | 19.25 | 28.13 | 19.13 | 47.07 | 29.13 | 120.18 | 116.24 | 3.39 | | Others | 9.81 | 14.34 | -8.31 | LP | -2.13 | -8.79 | -38.40 | 77.11 | | South Africa | 0.00 | 0.00 | 0.00 | - | | Vietnam | 42.25 | 61.75 | 38.17 | 61.75 | 22.07 | 91.05 | 46.74 | 94.80 | | Total PBIT | 100.00 | 146.14 | 103.68 | 40.96 | 100.00 | 412.53 | 366.52 | 12.55 | | Less : Interest | | 26.58 | 27.35 | -2.83 | | 103.22 | 99.19 | 4.07 | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | United States | | 0.00 | 0.00 | 0.00 | | United Kingdom | | 0.00 | 0.00 | 0.00 | | Hong Kong | | 2.25 | 4.32 | -206.91 | | 4.15 | 4.91 | -76.11 | | India | | 4.85 | 4.56 | 29.68 | | 4.27 | 5.44 | -116.54 | | Bangladesh | | 6.33 | 5.79 | 54.51 | | 7.10 | 7.81 | -70.31 | | Others | | 6.29 | -10.70 | 1,698.51 | | -1.85 | -10.51 | 865.71 | | South Africa | | 0.00 | 0.00 | 0.00 | | Vietnam | | 15.08 | 11.34 | 374.06 | | 9.25 | 7.34 | 191.08 | | PBT | 100.00 | 119.57 | 76.33 | 56.65 | 100.00 | 309.30 | 267.33 | 15.70 |
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