Pearl Global Industries (PGIL) Q4 25/26 earnings summary

Executive summary

• Achieved record consolidated revenue of INR 5,025 crore in FY 2026, up 11.5% year-over-year, with strong overseas growth and improved profitability despite global tariff disruptions.

• Installed capacity surpassed 100 million pieces per annum, with ongoing CapEx in Bangladesh to add 6-7 million pieces in FY 2027.

• Declared highest-ever dividend payout of INR 14.50 per share (290% of face value), representing 25% of group PAT.

• Upgraded long-term and short-term credit ratings by ICRA, reflecting strengthened financial position.

• Audited standalone and consolidated financial results for FY 2026 were approved, with unmodified audit opinions from statutory auditors.

Financial highlights

• Consolidated FY 2026 revenue was INR 5,025 crore (+11.5% YoY); adjusted EBITDA reached INR 468 crore (+14% YoY), with a margin of 9.3% (10.3% adjusted for one-time items).

• PAT for FY 2026 was INR 270 crore, a 17% increase year-over-year; EPS was INR 60.34.

• Q4 FY 2026 revenue was INR 1,314 crore (+6.9% YoY), with PAT of INR 81 crore (+24.6% YoY).

• Standalone FY 2026 revenue was INR 1,081 crore; adjusted EBITDA margin (excluding tariff) at 8%.

• Cash and bank balance at year-end was INR 634 crore.

Outlook and guidance

• Targeting 12%-14% CAGR in revenue through FY 2028, aiming for INR 6,000 crore top-line.

• Confident of sustaining 10%-12% EBITDA margin in FY 2027 and beyond, driven by operational improvements and easing tariffs.

• Capacity expected to reach 125-130 million pieces by FY 2028, with 100 million pieces shipped.

• Plans to commit INR 200-250 crore in FY 2027 for capacity and capability expansion.

• Monitoring energy and raw material cost escalations due to geopolitical factors; pricing strategies adjusted accordingly.