Pearl Global Industries (PGIL) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever Q3 and nine-month consolidated revenue, adjusted EBITDA, and profitability, driven by robust sales volume growth across all geographies and strong momentum from H1 FY25.

• Bangladesh operations maintained strong performance with all facilities at optimal capacity utilization and a healthy order book, despite political unrest.

• India expected to maintain sales growth momentum, supported by seasonal demand and ongoing capacity expansion in Bihar.

• Net profit for Q3 FY25 stood at ₹4,824 lakh, compared to ₹3,382 lakh in Q3 FY24.

• The Board declared and paid an interim dividend of ₹5 per equity share during the quarter.

Financial highlights

• Q3 FY25 consolidated revenue: INR 1,022.5 crore (₹102,253 lakh), up 45.3% year-on-year; nine months FY25 consolidated revenue: INR 3,277.2 crore, up 28.1% year-on-year.

• Q3 FY25 adjusted EBITDA: INR 92.6 crore, up 35.1% year-on-year; margin at 9.1%.

• Q3 FY25 PAT after minority interest: INR 56.3 crore, up 57.4% year-on-year; nine months PAT after minority interest: INR 180.1 crore, up 45.8%.

• Q3 FY25 EPS: INR 12.52 vs INR 8.25 last year; nine months FY25 EPS: INR 40.07 vs INR 28.47.

• Interim dividend of ₹5 per share paid during the quarter.

Outlook and guidance

• Confident of meeting both top-line and bottom-line forecasts for FY25 and aligned with 2028 strategic objectives.

• Targeting installed capacity of 105-110 million pieces by FY26 and 125-130 million by FY27.

• Aims for INR 6,000 crore top-line by FY28 with double-digit EBITDA margin.

• Strong order book and optimal capacity utilization support confidence in sustaining growth momentum.

• Expects Q4 to be the strongest quarter due to seasonal product mix.