Pearl Global crosses Rs 5,000 crore revenue mark

MUMBAI: Pearl Global Industries, the makers of Gap and Zara has stitched up another impressive performance. India’s largest listed garment exporter announced robust audited results for the financial year ended 31 March 2026, crossing the significant Rs 5,000 crore revenue milestone. Consolidated revenue reached Rs 5,025 crore, registering an 11.5 per cent year-on-year growth, driven by higher volumes and a shift towards high-value-added products.

Adjusted EBITDA (excluding ESOP expense) stood at Rs 468 crore, up 14 per cent YoY, with margins at 9.3 per cent. On an adjusted basis (excluding tariff impact and certain losses), the margin improved to 10.3 per cent. Profit after tax (PAT) rose 17 per cent to Rs 270 crore.

The fourth quarter was particularly strong, delivering the company’s highest-ever quarterly revenue of Rs 1,314 crore, up 6.9 per cent YoY. Adjusted EBITDA grew 13.7 per cent to Rs 135 crore with a record margin of 10.3 per cent (adjusted 10.9 per cent). Quarterly PAT jumped 24.6 per cent to Rs 81 crore.

The company shipped a record 78.1 million pieces in FY26. It also declared a total dividend of ₹14.5 per share (290% of face value), the highest ever, representing a payout ratio of approximately 25 per cent of group PAT.

On the balance sheet front, net worth strengthened to Rs 1,438 crore and cash & bank balances (excluding LC earmarks) rose to Rs 634 crore. The company’s credit rating was upgraded to [ICRA] A+ (Stable).

Commenting on the results, Pearl Global Industries vice-chairman Pulkit Seth and Pearl Global Industries managing director Pallab Banerjee highlighted the resilience of Pearl Global’s diversified multi-country manufacturing model amid global tariff challenges, while outlining plans for fresh capital investment of Rs 200-250 crore in FY27 to support future growth.

Pearl Global has delivered its second consecutive year of double-digit growth, reinforcing its position as a strong player in the global apparel supply chain.