Pearl Global Industries Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹10,996 Cr
- P/E
- 35.09
- ROE
- 21.00%
- PEG
- 1.38
- Price to sales
- 2.06
- Debt to equity
- 0.65
- 52W high / low
- ₹2,480 / ₹1,138
- Sales growth (5Y)
- 27.51%
- EBITDA margin
- 9.68%
- Net profit margin
- 5.32%
- Promoter holding
- 59.91%
- Sales (last year)
- ₹5,325 Cr
Pearl Global Industries Ltd. incorporated in 1987. [1] Pearl Global Industries Limited (PGIL) is a garment exporter, manufacturing from multiple sourcing regions within India and countries within South Asia. The product range includes knits, woven, and bottoms across men, women, and kids' wear segments. [2]
Guidance scorecard · Q1 FY27 call
What Pearl Global Industries Ltd's management guided
and where it ranks in Textiles & Apparels
Textiles & Apparels
RevenueQ1 FY27 call
10–20%- Targeting high-teens percentage revenue growth for FY27, contingent on market conditions.
- Capacity expansion ongoing with expected installed capacity reaching around 108 million pieces by Sept-Oct FY27, aiming for 125-130 million pieces by 2028.
- India utilization around 65-70% with room to grow; Bangladesh and Vietnam have flexible partner factory capacity for quick scale-up.
- Bangladesh expansion scheduled for September, expected to scale utilization within 12 months.
- Revenue from UK expected to double in 2-3 years post India-UK FTA, driving significant incremental orders.
- Focus on volume growth over realization; top-line and bottom-line improving with sustainable gross margin around 51%.
2 more points from Pearl Global Industries Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Pearl Global Industries Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Pearl Global is undertaking ongoing capacity expansion projects in Bangladesh, expected to add 6 to 7 million pieces of additional capacity.
- An eco-friendly washing unit (sustainable laundry operations) will start in September, adding value to garments.
- In India, a second shed under construction is expected to be ready by September-October, increasing capacity and utilization.
- By 2028, the company targets an installed capacity of around 125 to 130 million pieces, crossing 108 million pieces expected by September-October 2026.
- Further capacity expansion is planned beyond the 6,000 crore revenue milestone, aiming to grow towards the billion-dollar mark.
2 more points from Pearl Global Industries Ltd's call on capex
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FundraisingQ1 FY27 call
See what Pearl Global Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Flat- Customers are not increasing long-term order visibility; instead, they are placing orders based on current sales and demand due to concerns like inflation and consumer sentiment.
- Retailers and brands are conservative and prefer shorter ordering cycles to remain agile amid global disruptions.
- There is no evident trend of customers ordering early; instead, the push is on supply chains to be more reactive and reduce lead times to manage logistical issues.
2 more points from Pearl Global Industries Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Textiles & Apparels
on management's own guidance
- Strong growth2
- Strong growth1
- Sumeet IndustrieGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Textiles & Apparels companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹560 Cr | 90.6 | |
| 2 | 40%+ | Flat | ₹421 Cr | 27.7 | |
| 3 | Sumeet Industrie | 20–40% | Up 2%+ | ₹751 Cr | 30.3 |
| 4 | 20–40% | Up 2%+ | ₹305 Cr | 20.4 | |
| 5 | 20–40% | Up 0–2% | ₹2,823 Cr | 17.5 | |
| 6 | 20–40% | Up 0–2% | ₹1,225 Cr | 69.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Textiles & Apparels rankingPearl Global Industries Ltd announcements
All announcements →- Capex / expansionNotablePearl Global Industries expands Bangladesh capacity; total production ~108Mn pieces
- Fundraise / allotmentNotablePearl Global Industries allots 4,61,90,542 bonus shares in 1:1 ratio on Sept 15, 2026
- Fundraise / allotmentNotablePearl Global Industries announces record date for 1:1 bonus equity shares issue
Financials of Pearl Global Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Pearl Global Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 730 | 894 | 961 | 704 | 877 | 1,053 | 1,202 | 1,023 | 1,229 | 1,228 | 1,313 | 1,170 | 1,314 |
| Expenses + | 667 | 811 | 883 | 639 | 796 | 954 | 1,105 | 931 | 1,112 | 1,116 | 1,192 | 1,074 | 1,179 |
| Operating Profit | 63 | 83 | 77 | 65 | 81 | 98 | 97 | 91 | 117 | 112 | 121 | 96 | 134 |
| OPM % | 9% | 9% | 8% | 9% | 9% | 9% | 8% | 9% | 10% | 9% | 9% | 8% | 10% |
| Other Income + | 23 | 7 | 7 | 3 | 14 | 15 | 9 | 6 | 8 | 11 | 8 | 7 | 10 |
| Interest | 16 | 20 | 24 | 17 | 22 | 23 | 25 | 24 | 27 | 27 | 27 | 22 | 26 |
| Depreciation | 14 | 14 | 16 | 16 | 19 | 17 | 18 | 19 | 21 | 20 | 22 | 22 | 23 |
| Profit before tax | 56 | 58 | 46 | 35 | 54 | 73 | 63 | 54 | 78 | 76 | 79 | 59 | 95 |
| Tax % | 5% | 18% | 14% | 2% | 10% | 15% | 11% | 10% | 16% | 14% | 9% | 12% | 15% |
| Net Profit + | 53 | 47 | 39 | 34 | 49 | 62 | 56 | 48 | 65 | 66 | 72 | 52 | 81 |
| EPS in Rs | 11.99 | 11.10 | 9.16 | 8.20 | 11.78 | 14.99 | 12.75 | 12.25 | 14.86 | 14.76 | 15.95 | 11.56 | 18.04 |
Financials of Pearl Global Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,024 | 1,393 | 1,538 | 1,496 | 1,758 | 1,685 | 1,491 | 2,714 | 3,158 | 3,436 | 4,506 | 5,025 |
| Expenses + | 974 | 1,333 | 1,465 | 1,450 | 1,657 | 1,603 | 1,424 | 2,555 | 2,883 | 3,111 | 4,089 | 4,561 |
| Operating Profit | 50 | 61 | 73 | 46 | 100 | 82 | 67 | 159 | 275 | 325 | 417 | 464 |
| OPM % | 5% | 4% | 5% | 3% | 6% | 5% | 4% | 6% | 9% | 9% | 9% | 9% |
| Other Income + | 24 | 24 | 30 | 47 | 51 | 44 | 36 | 37 | 34 | 31 | 38 | 36 |
| Interest | 23 | 21 | 35 | 38 | 43 | 53 | 47 | 61 | 82 | 100 | 112 | 103 |
| Depreciation | 16 | 17 | 19 | 23 | 26 | 42 | 44 | 48 | 51 | 64 | 75 | 87 |
| Profit before tax | 34 | 47 | 49 | 32 | 83 | 31 | 11 | 86 | 176 | 192 | 267 | 309 |
| Tax % | 29% | 23% | 15% | 29% | 19% | 30% | -54% | 18% | 13% | 12% | 14% | 13% |
| Net Profit + | 24 | 37 | 42 | 23 | 67 | 22 | 17 | 70 | 153 | 169 | 231 | 270 |
| EPS in Rs | 5.79 | 8.47 | 9.38 | 5.56 | 15.54 | 4.98 | 3.99 | 15.74 | 34.47 | 40.11 | 54.06 | 60.17 |
| Dividend Payout % | 19% | 18% | 16% | 18% | 10% | 0% | 0% | 16% | 11% | 44% | 21% | 14% |
Financials of Pearl Global Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 23 | 23 |
| Reserves | 296 | 323 | 359 | 373 | 448 | 479 | 496 | 577 | 701 | 780 | 1,133 | 1,437 |
| Borrowings + | 167 | 217 | 253 | 315 | 333 | 463 | 440 | 645 | 558 | 588 | 773 | 943 |
| Other Liabilities + | 250 | 264 | 282 | 226 | 298 | 288 | 339 | 538 | 501 | 595 | 667 | 842 |
| Total Liabilities | 734 | 825 | 916 | 937 | 1,100 | 1,252 | 1,296 | 1,781 | 1,781 | 1,986 | 2,595 | 3,245 |
| Fixed Assets + | 213 | 210 | 256 | 274 | 338 | 422 | 390 | 448 | 500 | 612 | 727 | 821 |
| CWIP | 3 | 11 | 16 | 8 | 8 | 36 | 47 | 15 | 33 | 35 | 44 | 110 |
| Investments | 11 | 19 | 13 | 37 | 33 | 38 | 55 | 55 | 60 | 30 | 24 | 36 |
| Other Assets + | 507 | 585 | 630 | 617 | 722 | 756 | 804 | 1,263 | 1,188 | 1,309 | 1,800 | 2,278 |
| Total Assets | 734 | 825 | 916 | 937 | 1,100 | 1,252 | 1,296 | 1,781 | 1,781 | 1,986 | 2,595 | 3,245 |
Financials of Pearl Global Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 32 | 25 | 15 | 33 | 75 | 64 | 95 | -92 | 365 | 352 | 176 | 398 |
| Cash from Investing Activity + | -55 | -22 | -49 | -58 | -59 | -85 | -26 | -40 | -26 | -128 | -104 | -158 |
| Cash from Financing Activity + | 2 | 24 | 11 | 31 | -14 | 15 | -62 | 153 | -200 | -152 | 101 | -46 |
| Net Cash Flow | -20 | 27 | -23 | 6 | 2 | -6 | 7 | 22 | 139 | 72 | 174 | 194 |
| Free Cash Flow | 2 | 5 | -49 | 8 | 4 | -32 | 64 | -142 | 325 | 229 | 81 | 208 |
| CFO/OP | 78% | 51% | 28% | 81% | 102% | 97% | 147% | -53% | 141% | 115% | 50% | 94% |
Financials of Pearl Global Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 50 | 38 | 35 | 46 | 48 | 59 | 49 | 24 | 28 | 26 | 30 |
| Inventory Days | 119 | 80 | 93 | 93 | 99 | 119 | 133 | 131 | 115 | 108 | 108 | 122 |
| Days Payable | 113 | 82 | 51 | 48 | 76 | 82 | 117 | 106 | 88 | 105 | 86 | 97 |
| Cash Conversion Cycle | 49 | 48 | 80 | 79 | 69 | 85 | 76 | 74 | 52 | 32 | 49 | 55 |
| Working Capital Days | 5 | 6 | 5 | 5 | 16 | 17 | 29 | 25 | 5 | 3 | 6 | 6 |
| ROCE % | 6% | 12% | 13% | 10% | 14% | 10% | 5% | 12% | 19% | 21% | 22% | 19% |
Guidance history
How Pearl Global Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Flat |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Up 2%+ | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
91 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +88.7% | 92% |
| Last 6 months | +56.9% | 90% |
| Last 3 months | +26.3% | 90% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Pearl Global Industries Ltd: 0.4 × 92 + 0.4 × 90 + 0.2 × 90 = 91.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Pearl Global Industries Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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- K P R Mill Ltd (Q2 FY27)
Quarterly Revenue from Operations (Q2FY27): ₹1,939.74 Cr, up from ₹1,632.03 Cr in Q2FY26 (18.8% YoY increase). Key investor presentation takeaways from K P R Mi