Leading apparel manufacturer and exporter Pearl Global Industries Limited (PGIL) has reported its highest-ever annual revenue of ₹4,506 crore for the financial year ended March 31, 2025, marking a robust 31.1% year-on-year growth.
The company also posted a record adjusted EBITDA of ₹411 crore (excluding ESOP expenses), reflecting a 29.8% growth with a healthy margin of 9.1%. Profit after tax (PAT) after minority interest stood at ₹248 crore, up 42% from the previous year.
In Q4 FY25, PGIL recorded revenue of ₹1,229 crore, up 40.1% year-on-year. The quarterly adjusted EBITDA stood at ₹119 crore with a margin of 9.7%, which increased to 10.5% when excluding startup costs from new facilities in Guatemala and Bihar. PAT for the quarter was ₹68 crore, a 32.9% increase.
PGIL shipped over 74.3 million garments during FY25, its highest ever, compared to 56.9 million in FY24.
On a standalone basis, PGIL’s FY25 revenue grew by 25.4% to ₹1,196 crore, with PAT nearly doubling to ₹55 crore. In Q4 alone, standalone revenue rose to ₹397 crore with EBITDA margins climbing to 10.2%.
The company also strengthened its balance sheet, with net worth increasing to ₹1,146 crore and cash and bank balance rising to ₹513 crore.
Pulkit Seth, Vice-Chairman, said, “As we embark on a new financial year, we are poised to sustain our momentum, strengthened by a solid customer base and an extensive global footprint. With confidence in our strategy and execution, we are ready to accelerate our objectives for FY28 and beyond, driving transformative growth with purpose and vision.”
Pallab Banerjee, Managing Director added, “The recently concluded India-UK FTA is a strategic breakthrough for us, eliminating earlier duty disadvantages of 10–12% and putting Indian manufacturers on equal footing with countries like Bangladesh, Cambodia, Vietnam, and Turkey. We see the UK as a significant growth opportunity, with the potential to double or even triple its current ~5% contribution to our business within the next one to two years.”
Pearl Global also announced a second interim dividend of ₹6.50 per share, bringing the total FY25 dividend to ₹11.50 per share.
About Pearl Global
Founded in 1987, PGIL is one of India’s largest listed garment exporters with manufacturing units across India, Bangladesh, Vietnam, Indonesia, and Guatemala. The company partners with global retailers and fashion brands such as Target, Kohl’s, Old Navy, Ralph Lauren, and Primark.
