Pearl Global Industries Limited (PGIL), one of India’s leading listed garment exporters, has reported its strongest-ever quarterly performance for the first quarter of FY27, supported by broad-based growth across its international manufacturing operations, improved product mix and stronger operating leverage.
The company recorded consolidated revenue of INR 1,528 crore in Q1FY27, representing a 24.5% year-on-year increase and the highest quarterly revenue in its history. Adjusted EBITDA, excluding ESOP expenses, rose 44.1% YoY to INR 164 crore, while the EBITDA margin expanded by 140 basis points to a record 10.7%.
Profitability also strengthened during the quarter. Pearl Global reported PAT of INR 99 crore, marking a 51.4% YoY increase.
Strong Volume Growth Across Global Operations
Pearl Global shipped 20.8 million pieces during Q1FY27, its highest-ever volume for a first quarter, compared with 17.2 million pieces in Q1FY26. The performance reflects healthy demand across its diversified manufacturing network and continued engagement with global apparel customers.
On a standalone basis, revenue increased 27.4% YoY to INR 340 crore. Adjusted EBITDA stood at INR 22 crore, with a margin of 6.6%, while PAT reached INR 12 crore.
The company’s diversified manufacturing footprint across India, Bangladesh, Vietnam, Indonesia and Guatemala continues to support its strategy of providing global brands with scale, flexibility and multi-country sourcing capabilities.
Diversified Manufacturing Supports Resilience
Commenting on the performance, Dr. Deepak Kumar Seth, Chairman & Non-Executive Director, Pearl Global Industries, said the first-quarter results demonstrate the strength of the company’s diversified manufacturing platform, global customer relationships and disciplined execution.
He also highlighted the company’s continued focus on responsible growth, corporate governance, employee development, community initiatives and environmental stewardship.
Mr. Pulkit Seth, Vice-Chairman & Non-Executive Director, described Q1FY27 as the best quarter in Pearl Global’s history. He pointed to the company’s record revenue and EBITDA margin, supported by double-digit revenue growth and increased volumes across its operating geographies.
According to Seth, global apparel brands are increasingly consolidating and diversifying sourcing with manufacturers that can provide scale, flexibility and multi-country production capabilities. Pearl Global’s presence across multiple sourcing destinations positions it to benefit from this evolving supply-chain landscape.
Focus on India’s Apparel Export Opportunity
Pearl Global expects India’s apparel export outlook to remain positive, supported by ongoing supply-chain diversification and developments such as the India–UK Free Trade Agreement and progress towards an India–EU Free Trade Agreement.
The company is continuing to invest in manufacturing capabilities, technology and operational efficiency to strengthen its global supply-chain platform and support future growth.
Capacity Expansion Underway
Mr. Pallab Banerjee, Managing Director, Pearl Global Industries, said the quarter reflected strong operational execution and improved profitability across the group’s manufacturing countries.
The company is also expanding its production capabilities in Bangladesh and its laundry operations. These facilities are scheduled for inauguration in September and are expected to add approximately 7 million pieces of annual capacity, taking Pearl Global’s total installed capacity to around 108 million pieces.
Despite continued geopolitical uncertainty, raw-material volatility and changing global trade flows, the company remains focused on improving productivity, strengthening customer relationships, diversifying its customer base and expanding business with existing clients.
With record quarterly revenue, stronger profitability and additional capacity coming online, Pearl Global has begun FY27 with significant momentum and remains focused on delivering sustained growth across its global apparel manufacturing network.
