Q3 2026 Pearl Global Industries Ltd Earnings Call Transcript
Key Points
- Pearl Global Industries Ltd (BOM:532808) reported a 13.2% year-on-year increase in nine-month revenue, reaching INR3,711 crores.
- The company's EBITDA grew by 14% year-on-year, with an adjusted EBITDA margin of 10.1% when excluding tariff-related costs and ramp-up expenses.
- The India-US bilateral trade deal significantly reduced tariffs from 50% to 18%, enhancing India's textile export competitiveness.
- Capacity expansion plans in Bangladesh and India are on track, with significant growth expected from these regions in the coming years.
- The company has achieved a notable improvement in its credit profile, with a long-term credit rating upgraded to ICRA A+ stable.
- The company faced challenges due to tariff-related costs and ramp-up expenses, impacting the EBITDA margin.
- India operations have been a drag on overall performance, with margins below company average due to previous trade disadvantages.
- Guatemala operations are still incurring losses, although efforts are being made to reach breakeven in the next financial year.
- Vietnam experienced a slight degrowth in garment exports in terms of dollar value, affecting overall profitability.
- The company is facing challenges in ramping up new facilities, particularly in Bihar and Guatemala, which are impacting short-term financial performance.
Ladies and gentlemen, good day, and welcome to Pearl Global Industries Limited earnings conference call for Q3 and nine months FY26. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Shishir Gahoi, Head of Investor Relations of Pearl Global Industries Limited. Thank you, and over to you, sir.
Thank you very much. Good morning, everyone, and I am delighted to welcome you all to our earnings call for Q3 and nine months FY26. I hope you all had an opportunity to review our press release and the investor presentation, which are available under the Investors section of our website, and the same are uploaded on BSE and NSE websites. To discuss our results, we have with us our Managing Director, Mr. Pallab Banerjee; and our Group CFO, Mr. Sanjay Gandhi. They will take you through our results and business performance, after which we will proceed for the question-and-answer session.
Before we start, I just want to
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