PGIL

Pearl Global Industries Limited

Fashion apparel exporter and manufacturer for global retail brands

Consumer Discretionary›Textiles›Textiles & Apparels›Garments & Apparels

pearlglobal.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1289.20
Market cap
11,904 Cr
Stock P/E
38.4
P/B
8.27
Dividend yield
0.5%
ROE (FY26)
19.3%
ROCE (FY26)
19.4%
Operating margin (FY26)
7.5%
Debt / equity (FY26)
0.48
OCF / EBITDA (FY26)
85.9%
OCF / EBITDA (3Y)
78.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Pearl Global designs and makes clothing, mainly in knits, wovens, denim and outerwear, for global fashion retailers and brands.

Company snapshot

3rdBy market cap

Ranked among 31 companies in Garments & Apparels.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 83.2% of revenue

SegmentRevenue shareRevenuePBTAssets
Bangladesh
33.0%
1,081 Cr77 Cr—
Hong Kong
83.2%
2,727 Cr130 Cr—
India
24.4%
799 Cr28 Cr—
Others
8.1%
266 Cr-21 Cr—
Vietnam
16.3%
534 Cr48 Cr—

Shares add up to 165% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Return on equity of 19.3% — the company generates strong returns on shareholders' money.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales961 Cr704 Cr877 Cr1,053 Cr1,202 Cr1,023 Cr1,229 Cr1,228 Cr1,313 Cr1,170 Cr1,314 Cr1,528 Cr
Operating expenses (approx.)883 Cr639 Cr796 Cr955 Cr1,105 Cr931 Cr1,112 Cr1,116 Cr1,192 Cr1,074 Cr1,179 Cr1,364 Cr
EBITDA77 Cr65 Cr81 Cr98 Cr97 Cr91 Cr117 Cr112 Cr121 Cr96 Cr135 Cr164 Cr
OPM %8.1%9.3%9.3%9.3%8.0%8.9%9.5%9.2%9.2%8.2%10.2%10.7%
Other income7 Cr3 Cr15 Cr10 Cr13 Cr6 Cr5 Cr11 Cr8 Cr7 Cr10 Cr11 Cr
Interest24 Cr17 Cr22 Cr23 Cr25 Cr24 Cr27 Cr27 Cr27 Cr22 Cr26 Cr27 Cr
Depreciation16 Cr16 Cr19 Cr17 Cr18 Cr19 Cr21 Cr20 Cr22 Cr22 Cr23 Cr26 Cr
Profit before tax46 Cr35 Cr54 Cr73 Cr63 Cr54 Cr78 Cr76 Cr79 Cr59 Cr95 Cr120 Cr
Tax %14.4%2.2%10.0%15.4%11.1%10.2%16.5%14.1%9.3%12.0%14.8%17.0%
Net profit39 Cr34 Cr49 Cr62 Cr56 Cr48 Cr65 Cr66 Cr72 Cr52 Cr81 Cr99 Cr
EPS (₹)₹18.32₹16.49₹11.82₹14.99₹12.90₹12.52₹15.10₹14.76₹15.95₹11.57₹18.05₹21.77

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,538 Cr1,496 Cr1,757 Cr1,685 Cr1,491 Cr2,714 Cr3,158 Cr3,436 Cr4,506 Cr5,025 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,476 Cr1,471 Cr1,671 Cr1,618 Cr1,430 Cr2,573 Cr2,903 Cr3,128 Cr4,103 Cr4,561 CrSign in free for the trailing twelve months
EBITDA63 Cr25 Cr86 Cr67 Cr61 Cr141 Cr256 Cr308 Cr404 Cr464 CrSign in free for the trailing twelve months
OPM %4.1%1.7%4.9%4.0%4.1%5.2%8.1%9.0%9.0%9.2%Sign in free for the trailing twelve months
Other income30 Cr48 Cr34 Cr49 Cr24 Cr33 Cr23 Cr32 Cr34 Cr37 CrSign in free for the trailing twelve months
Interest24 Cr26 Cr29 Cr42 Cr41 Cr47 Cr65 Cr83 Cr99 Cr103 CrSign in free for the trailing twelve months
Depreciation19 Cr23 Cr26 Cr42 Cr44 Cr48 Cr51 Cr64 Cr75 Cr87 CrSign in free for the trailing twelve months
Profit before tax49 Cr32 Cr83 Cr31 Cr11 Cr86 Cr176 Cr192 Cr267 Cr309 CrSign in free for the trailing twelve months
Tax %14.7%28.7%19.1%30.4%-54.0%18.3%13.0%11.9%13.7%12.7%Sign in free for the trailing twelve months
Net profit42 Cr23 Cr67 Cr22 Cr17 Cr70 Cr153 Cr169 Cr231 Cr270 CrSign in free for the trailing twelve months
EPS (₹)₹18.75₹11.12₹31.06₹9.95₹7.97₹31.46₹68.90₹40.26₹54.96₹60.34Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%5.0%28.9%11.0%22.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital22 Cr22 Cr22 Cr22 Cr22 Cr22 Cr22 Cr22 Cr23 Cr23 Cr
Reserves359 Cr373 Cr448 Cr479 Cr496 Cr577 Cr701 Cr780 Cr1,133 Cr1,437 Cr
Borrowings241 Cr263 Cr316 Cr357 Cr325 Cr564 Cr448 Cr445 Cr552 Cr687 Cr
Other liabilities284 Cr269 Cr303 Cr382 Cr439 Cr602 Cr589 Cr723 Cr898 Cr1,120 Cr
Total liabilities916 Cr937 Cr1,100 Cr1,252 Cr1,294 Cr1,781 Cr1,781 Cr1,985 Cr2,596 Cr3,245 Cr
Fixed assets (net)173 Cr179 Cr244 Cr222 Cr214 Cr258 Cr288 Cr531 Cr646 Cr737 Cr
CWIP16 Cr8 Cr8 Cr36 Cr47 Cr15 Cr33 Cr35 Cr44 Cr110 Cr
Investments13 Cr37 Cr107 Cr112 Cr213 Cr226 Cr251 Cr86 Cr80 Cr91 Cr
Loans & advances——17 Cr17 Cr17 Cr35 Cr25 Cr23 Cr23 Cr22 Cr
Inventories216 Cr210 Cr236 Cr264 Cr279 Cr540 Cr513 Cr503 Cr705 Cr882 Cr
Trade receivables159 Cr142 Cr222 Cr220 Cr242 Cr367 Cr209 Cr265 Cr324 Cr407 Cr
Cash & bank86 Cr92 Cr94 Cr88 Cr95 Cr117 Cr256 Cr328 Cr510 Cr704 Cr
Other assets252 Cr268 Cr173 Cr293 Cr187 Cr224 Cr204 Cr215 Cr263 Cr290 Cr
Total assets916 Cr937 Cr1,100 Cr1,252 Cr1,294 Cr1,781 Cr1,781 Cr1,985 Cr2,596 Cr3,245 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity15 Cr34 Cr75 Cr64 Cr95 Cr-91 Cr365 Cr352 Cr176 Cr398 Cr
Cash from investing-49 Cr-58 Cr-59 Cr-85 Cr-26 Cr-40 Cr-26 Cr-128 Cr-104 Cr-158 Cr
Cash from financing11 Cr31 Cr-14 Cr15 Cr-62 Cr153 Cr-200 Cr-152 Cr101 Cr-46 Cr
Net cash flow-23 Cr6 Cr2 Cr-6 Cr7 Cr22 Cr139 Cr72 Cr174 Cr194 Cr
Free cash flow (OCF − Capex)-50 Cr7 Cr-14 Cr-35 Cr74 Cr-175 Cr294 Cr225 Cr57 Cr207 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.6%8.7%14.0%8.4%6.2%11.2%20.2%21.8%21.6%19.4%
ROE %10.4%5.7%14.0%4.2%3.3%11.1%20.1%21.4%21.7%19.3%
Debtor days38354648594924282630
Inventory days116113113126150169125119138150
Days payable6359878713313796115109118
Cash conversion cycle90897287768154325561
OCF / EBITDA %24.1%n.m.86.6%95.2%156.2%-65.1%142.7%114.4%43.7%85.9%
OCF / EBITDA % (3 years)——71.1%96.7%109.0%24.9%80.6%88.8%92.4%78.9%
Debt / equity0.630.660.670.710.630.940.620.560.480.48
Current ratio1.321.291.391.381.471.371.421.451.571.60
Net debt / EBITDA2.46—2.564.023.803.180.750.380.10-0.04