Pearl Global Industries (PGIL) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated performance in Q4 and FY25, with all-time highs in revenue, adjusted EBITDA, and profit after tax, including 16 consecutive quarters of growth and surpassing Rs. 1,000 crore revenue in each quarter and Rs. 4,500 crore for the year.

• Maintained operational resilience despite early-year disruptions in Bangladesh, achieving highest-ever shipment volumes of 74.3 million pieces in FY25, up from 56.9 million in FY24.

• Declared a total FY25 dividend of Rs. 11.50 per share, with a payout ratio of 22.8%-22.9%.

• India-UK FTA eliminated previous duty disadvantages, enhancing competitiveness and opening significant growth opportunities in the UK market.

• Expanded global presence with new subsidiaries and increased stakes in existing entities.

Financial highlights

• FY25 consolidated revenue reached INR 4,506 crore, up 31.1% year-on-year; Q4 revenue at INR 1,229 crore, up 40.1% year-on-year.

• Adjusted EBITDA for FY25 at INR 411 crore, up 29.8% year-on-year; Q4 adjusted EBITDA at INR 119 crore, margin 9.7%.

• PAT after minority interest for FY25 at INR 248 crore, up 42%; Q4 PAT at INR 68 crore, up 32.9%.

• EPS for FY25 at INR 54.96 (basic), up from INR 40.26 in FY24.

• Standalone FY25 revenue at INR 1,234 crore, with net profit at INR 68.24 crore.

Outlook and guidance

• Confident in accelerating strategic milestones for FY28, targeting 100 million pieces shipped and 130 million capacity.

• FY26 CapEx plan of INR 250 crore, with major investments in Bangladesh and India for capacity and sustainability.

• Ongoing focus on operational efficiency and cost optimization to offset US tariff impacts in FY26.

• Management remains attentive to regulatory changes, such as the Code on Social Security, 2020.