Pearl Global Industries Limited (PGIL) (BSE: 532808) (NSE: PGIL), India’s largest listed garment exporters, manufacturing from multiple sourcing regions South Asia, South-East Asia and Central America has announced its unaudited financial results for the Quarter and Half year ended on 30th September 2025.
Consolidated Financial Highlights for H1FY26:
• Revenue crossed INR 2,500 crore milestone, reaching INR 2,541 crore, a 12.7% Y-o-Y growth driven by high value-added product sales in Vietnam and Indonesia
• Adj. EBITDA stands at INR 236 crore, grew by 18.4% Y-o-Y, Adj. EBITDA margin at 9.3%, improved by 45 BPS Y-o-Y
• Adj. EBITDA margin, excluding tariff cost of ~INR 21 crore /loss at new facilities (Guatemala & Bihar) stands at 10.6%
• PAT in H1FY26 grew to INR 138 crore, a growth of 17.0% on a Y-o-Y basis
Consolidated Financial Highlights for Q2FY26:
• Revenue stands at INR 1,313 crore, grew by 9.2% Y-o-Y
• Adj. EBITDA (excl. ESOP expense) came in at INR 122 crore, up by 23.6% Y-o-Y, with margin at 9.3%, improved by 108 BPS Y-o-Y
• Adj. EBITDA margin, excluding tariff cost/loss at new facilities (Guatemala & Bihar) stands at 10.1%
• PAT rose to INR 72 crore, marking 29.4% Y-o-Y increase
Standalone Financial Highlights for H1FY26:
• Revenue stands at INR 531 crore
• Adj. EBITDA stands at INR 30 crore, grew by 72.7% Y-o-Y, Adj. EBITDA margin at 5.7%, grew by 258 BPS Y-o-Y
• Adj. EBITDA margin excluding tariff cost of ~INR 8 crore stands at 7.2%
• PAT stands at INR 41 crore, compared to INR 27 crore in H1FY25
Standalone Financial Highlights for Q2FY26:
• Revenue stands at INR 264 crore
• Adj. EBITDA stands at INR 11 crore, Adj. EBITDA margin at 4.0%
• PAT stands at INR 15 crore, compared to INR 12 crore in Q2FY25
Balance Sheet Highlights:
• Networth as on 30th September 2025 stood at INR 1,271 crore compared to INR 1,146 crore as on 31st March 2025
• Cash and Bank Balance (excluding cash earmarked for LC payments) stood at INR 416 crore, with an additional INR 128 crore in Mutual funds, totaling INR 544 crore, as on 30th September 2025 compared to INR 513 crore as on 31st March 2025
• Working Capital Days stood at 33 days as on 30th September 2025
• ROCE improved by 375 BPS to 29.0% in H1FY26 from 25.2% in H1FY25
Other Highlights:
• The Company shipped 19.9 million pieces in Q2FY26, highest ever in Q2 series up from 19.3 million pieces in Q2FY25
• Declared an interim dividend of INR 6.00 per equity share representing a 20% payout ratio (wrt. Group PAT) and 120% of face value of share
• PGIL (Holding Company) received a total dividend of ~INR 32 crore in H1FY26 from NorpKnit Industries Limited (Bangladesh Subsidiary) and Pearl Global (HK) Limited (Hong Kong Subsidiary), in line with fungibility of cash across group entity. The Company has been consistently declaring dividend from subsidiary companies in Bangladesh & Hong Kong since FY22
• Upgraded to eFlow Nanobubble technology, replacing traditional water-based washing in Bangladesh. This advancement enables up to 32% water savings, 9% reduction in power consumption, and a 20% improvement in time efficiency
