Garment Exporter Pearl Global Hits ₹1,228 Crore Revenue for 5th Straight Quarter

Pearl Global Industries Limited (PGIL), one of India's largest listed garment exporters, has reported a strong financial performance for the quarter ended June 30, 2025. The company recorded a 16.6% year-on-year revenue growth, reaching ₹1,228 crore, marking its fifth consecutive quarter of achieving over ₹1,000 crore in revenue.

The company's adjusted EBITDA grew 13.4% to ₹114 crore, maintaining a margin of 9.3%. Excluding operational losses at new facilities in Guatemala and Bihar and tariff-related costs, the EBITDA margin reached 10.7%. Profit after tax increased 5.9% to ₹66 crore, or 13.5% excluding exceptional items from the previous year.

The growth was primarily driven by strong performance in Vietnam and Indonesia, supported by robust order books and healthy sales volumes. PGIL shipped 17.2 million pieces during the quarter, up from 16.7 million pieces in the same period last year. However, the company faces significant challenges from US reciprocal tariffs, with India now facing a 50% tariff compared to 19-20% for other major garment manufacturing countries.

To address this challenge, PGIL is recalibrating its strategy by shifting US market production to more favorable manufacturing hubs while focusing on India's Free Trade Agreement markets, including the UK, Japan, and Australia. The company also received ₹18 crore in dividends from its Bangladesh and Hong Kong subsidiaries during the quarter.