Pearl Global Industries Limited (PGIL)

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Pearl Global Industries Limited (PGIL) · mywealthgrid

About

Pearl Global manufactures garments and apparels within India's consumer discretionary sector. Market cap of ₹11,432.65 Cr positions it in the mid-cap range, and the 1-year return of 90.15% reflects recent investor confidence. Consolidated operations are approximately 4–5 times the scale of standalone revenue.

Face value: ₹5

Market cap

₹5,835 Cr

P/E

18.8×

P/B

4.0×

Dividend yield

1.7%

ROE

21.2%

ROCE

24.9%

Debt / equity

0.47

OPM

9.2%

EPS (TTM)

₹67.3

Book value

₹316.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation risk: PE of 36.84 is elevated; verify whether the 1-year 90.15% return has priced in growth assumptions sustainable in the near term
Standalone margin weakness: OPM declined to 3.7% in Sep 2025 from 7.72% in Mar 2026; clarify drivers of volatility and sustainability
Consolidated dependency: Consolidated revenue runs 4–5 times standalone; verify whether subsidiary performance is sustainable and strategically critical
Sector exposure: Consumer discretionary and textiles both face demand and raw-material-cost cycles; verify hedging practices and forward guidance

Generated analysis · source review pending

Growth drivers

ROE of 21.23% signals capital efficiency; verify whether the 1-year 90.15% return reflects sustained earnings acceleration or valuation rerating
Consolidated scale 4–5 times standalone suggests integration success; verify whether consolidated margins (8.2%–10.72%) will sustain group profitability
Conservative debt (D/E 0.47) creates room for capex or strategic investment; verify capital allocation priorities in textiles (capacity, efficiency, exports)
Dividend payout history (4 instances) shows cash generation capability; verify payout ratio and whether earnings growth will fund both shareholder returns and reinvestment

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,263.0-2.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 23.2% (3-yr avg)
+High return on capital employed of 26.6%
+Profit CAGR of 74.3% over the last 5 years
+Revenue CAGR of 27.5% over the last 5 years
+Dividend payout of 31.3% of profit
+High promoter holding of 61.1% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

68/100

Business quality: 49
Growth: 85
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Page Industries LimitedPAGEINDPAGEIND	₹41,059 Cr	₹41,071 Cr	₹5,351 Cr	₹1,147 Cr	22%	₹756 Cr	14.6%	65.7%	52.5%	138
Arvind LimitedARVINDARVIND	₹13,997 Cr	₹15,438 Cr	₹9,798 Cr	₹1,067 Cr	10.8%	₹414 Cr	4.6%	16.2%	10.6%	73
Pearl Global Industries LimitedPGILPGIL	₹5,835 Cr	₹6,522 Cr	₹5,325 Cr	₹515 Cr	9.2%	₹310 Cr	5.4%	24.9%	21.2%	55
Gokaldas Exports LimitedGOKEXGOKEX	₹5,049 Cr	₹6,026 Cr	₹4,185 Cr	₹371 Cr	8.9%	₹103 Cr	2.5%	9.9%	4.7%	155
Lux Industries LimitedLUXINDLUXIND	₹3,287 Cr	₹3,867 Cr	₹2,933 Cr	₹187 Cr	6.1%	₹102 Cr	3.6%	10%	5.8%	263
Kewal Kiran Clothing LimitedKKCLKKCL	₹2,930 Cr	₹2,978 Cr	₹1,258 Cr	₹250 Cr	19.6%	₹148 Cr	12.6%	18.9%	16.1%	201
Sbc Exports LimitedSBCSBC	₹2,788 Cr	₹3,015 Cr	₹452 Cr	₹41 Cr	8.3%	₹40 Cr	6.3%	44.4%	37.2%	143
S. P. Apparels LimitedSPALSPAL	₹2,348 Cr	₹2,749 Cr	₹1,576 Cr	₹226 Cr	13.8%	₹105 Cr	6.4%	18.9%	11.2%	156
Kitex Garments LimitedKITEXKITEX	₹2,328 Cr	₹3,527 Cr	₹629 Cr	₹4 Cr	4.3%	₹-50 Cr	-2%	1.4%	-1.3%	173
Cantabil Retail India LimitedCANTABILCANTABIL	₹1,878 Cr	₹1,878 Cr	₹873 Cr	₹275 Cr	31%	₹97 Cr	11.2%	19.6%	22%	337
Dollar Industries LimitedDOLLARDOLLAR	₹1,543 Cr	₹1,820 Cr	₹1,887 Cr	₹205 Cr	10.6%	₹112 Cr	5.7%	17.1%	11.9%	236
Monte Carlo Fashions LimitedMONTECARLOMONTECARLO	₹1,082 Cr	₹1,411 Cr	₹1,286 Cr	₹220 Cr	17.8%	₹105 Cr	8.8%	17.5%	12.9%	384

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,496	1,496	1,758	1,685	1,491	2,714	3,158	3,436	4,506	5,025
COGS	826	826	873	808	769	1,511	1,630	1,698	2,372	2,634
Gross profit	671	671	884	877	722	1,203	1,529	1,738	2,134	2,391
	646	646	—	810	661	1,062	1,273	1,430	1,731	1,927
	25	25	—	67	61	141	256	308	404	464
OPM %	1.7%	1.7%	—	4%	4.1%	5.2%	8.1%	9%	9%	9.2%
Depreciation	23	23	26	42	44	48	51	64	75	87
Interest	26	26	30	42	41	47	65	83	99	103
	56	56	34	48	36	40	36	32	38	36
Profit before tax	32	32	—	31	11	86	176	192	267	309
Tax	9	9	14	10	-6	16	23	23	37	39
Tax %	28.8%	28.8%	—	30.5%	-54%	18.3%	13%	11.9%	13.7%	12.7%
	23	23	7	22	17	70	153	169	231	270
PAT margin %	1.5%	1.5%	0.4%	1.3%	1.2%	2.6%	4.8%	4.9%	5.1%	5.4%
EPS (₹)	11.1	11.1	—	10	8	31.5	68.9	40.3	55	60.3
EPS adjusted (₹)	2.8	2.8	0.8	2.5	2	7.9	17.2	20.1	27	30.1
	27%	18%	—	0%	0%	0%	10.9%	55.9%	9.1%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	22	22	22	22	22	22	22	22	23	23
Reserves	324	373	448	—	496	577	701	780	1,133	1,437
Minority interest	9	10	12	—	13	16	20	15	—	—
	208	263	316	—	325	523	448	445	552	687
	280	269	303	—	439	643	589	723	889	1,098
Total equity & liabilities	843	937	1,100	—	1,294	1,781	1,781	1,985	2,596	3,245
	139	199	264	241	232	277	309	555	671	763
CWIP	11	8	8	—	47	15	33	35	44	110
Investments	20	6	0	—	115	114	251	86	80	91
	673	723	829	—	900	1,374	1,187	1,309	1,801	2,280
Total assets	843	937	1,100	—	1,294	1,781	1,781	1,985	2,596	3,245

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Hong Kong	3,937.06	163.32	894.14	298.29	595.85	27.41
Bangladesh	1,691.51	120.18

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.3%	52%	48.4%	44.3%	48.4%	50.6%	47.4%	47.6%
EBITDA margin %	—	4%	4.1%	5.2%	8.1%	9%	9%	9.2%
EBIT margin %	—	1.5%	1.1%	3.4%	6.5%	7.1%	7.3%	7.5%
PAT margin %	0.4%	1.3%	1.2%	2.6%	4.8%	4.9%	5.1%	5.4%
Working capital
Receivable days	46	—	59	49	24	28	26	30
Inventory days	99	—	132	130	115	108	109	122
Payable days	—	—	117	106	88	105	86	97
NWC days	—	—	74	74	51	32	49	55
Leverage
Current ratio	1.39	—	1.47	1.37	1.42	1.45	1.57	1.6
Debt to EBITDA	—	—	5.36	3.72	1.75	1.45	1.37	1.48
Debt to equity	0.67	—	0.63	0.87	0.62	0.56	0.48	0.47
Interest coverage	0.3	1.8	1	2.7	3.5	3.3	3.6	4
Asset turnover	1.6	—	1.15	1.52	1.77	1.73	1.74	1.55
Return ratios
Return on assets %	0.6%	—	1.4%	3.9%	8.6%	8.5%	8.9%	8.3%
Return on capital employed %	1.4%	—	5.2%	15.3%	24.8%	26.7%	28.1%	24.9%
Return on equity %	1.5%	—	3.4%	11.7%	21.2%	21.1%	20%	18.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.58%	66.23%	66.19%	66.17%	62.91%	62.82%	62.81%	62.78%	62.75%	61.24%	61.16%	61.11%
	5.3%	5.25%	5.45%	5.39%	4.57%	5.2%	7.39%	6.8%	6.5%	6.27%	6.49%	6.82%
	0.5%	0.43%	0.49%	0.61%	9.31%	11.23%	11.56%	12.77%	14.02%	16.77%	18.8%	19.17%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	27.62%	28.09%	27.87%	27.83%	23.21%	20.75%	18.24%	17.65%	16.73%	15.72%	13.55%	12.9%
No. of shareholders	—	—	—	—	—	—	—	—	26,819	29,013	30,110	30,518

Promoter holding down 5.47 percentage points since Sep 2023.

16 deals · 16 Nov 2021 – 26 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
26 Aug 2026	DEEPAK KUMAR SETH	Bulk	BSE	Sell	5,50,000	₹2,280.51	₹125.43 Cr
16 Dec 2025	SBI MUTUAL FUND	Bulk	NSE	Buy	6,60,558	₹1,599.99	₹105.69 Cr
16 Dec 2025	DEEPAK KUMAR SETH	Bulk	NSE	Sell	6,25,000	₹1,600.04	₹100.00 Cr
13 Nov 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,65,555	₹1,826.47	₹48.50 Cr
13 Nov 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,65,555	₹1,825.01	₹48.46 Cr
15 Jul 2024	HDFC MUTUAL FUND	Bulk	BSE	Buy	4,47,380	₹731.00	₹32.70 Cr
15 Jul 2024	SHAH SANJIV DHIRESHBHAI	Bulk	BSE	Sell	2,77,000	₹731.01	₹20.25 Cr
15 Jul 2024	HDFC MUTUAL FUND	Bulk	NSE	Buy	2,42,605	₹731.00	₹17.73 Cr
2 Jul 2024	ABU DHABI INVESTMENT AUTHORITY	Bulk	NSE	Buy	5,85,912	₹720.15	₹42.19 Cr
2 Jul 2024	LTS INVESTMENT FUND LTD	Bulk	BSE	Sell	5,75,737	₹726.92	₹41.85 Cr

1–10 of 16

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Mr. Deepak Kumar SethNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Pulkit SethNon-Executive - Non Independent Director
Mrs. Shifalli SethNon-Executive - Non Independent Director
Mr. Pallab BanerjeeExecutive Director-MD
Mr. Deepak KumarExecutive Director
Mr. Abhishek GoyalNon-Executive - Independent Director
Mr. Ashwini AgarwalNon-Executive - Independent Director
Mr. Sanjay KapoorNon-Executive - Independent Director
Mr. Rahul Mehta NarendraNon-Executive - Independent Director
Mrs. Jyoti AroraNon-Executive - Independent Director
Mr. Rajesh Kumar SinghNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 7 fund houses

Held by these funds

6.46%

of the company's equity

All mutual funds

18.67%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

10 schemes · 7 fund houses

		Shares
Flexicap Fund	SBI Mutual Fund	14.15 L	348.66	1.5%	3.063%	-0
Flexi Cap FundNEW	ICICI Prudential Mutual Fund	7.3 L	179.94	0.69%	1.581%	—
Quality Fund	SBI Mutual Fund	2.95 L	72.61	2.73%	0.638%	-0
MULTICAP FUND	Tata Mutual Fund	2.9 L	71.46	2%	0.628%	-0
MNC Fund	ICICI Prudential Mutual Fund	1.87 L	46.09	2.55%	0.405%	-18,253
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	45,557	11.22	0.45%	0.099%	-998
(LIVE SCHEMES)	ITI Mutual Fund	11,317	2.79	0.75%	0.024%	-0
Flexi Cap FundNEW	Bajaj Finserv Mutual Fund	10,820	2.67	0.03%	0.023%	—

1–8 of 10

1 / 2

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Analyst / investor meeting24 Sept 2026 · 7 days agomeeting

18

Interim dividend21 May 2026 · ex-date₹8.5
Interim dividend17 Nov 2025 · ex-date₹6
Interim dividend26 May 2025 · ex-date₹6.5
Interim dividend27 Nov 2024 · ex-date₹5
Interim dividend22 Nov 2023 · ex-date₹12.5
Interim dividend1 Sept 2023 · ex-date₹5
Interim dividend26 May 2023 · ex-date₹5
Interim dividend22 Nov 2022 · ex-date₹2.5
Interim dividend7 Jun 2022 · ex-date₹5
Dividend dividend16 Sept 2019 · ex-date₹3
Dividend dividend14 Sept 2018 · ex-date₹2
Dividend dividend20 Sept 2017 · ex-date₹3
Final dividend16 Sept 2016 · ex-date₹0.5
Interim dividend18 Mar 2016 · ex-date₹2.5
Dividend dividend11 Sept 2015 · ex-date₹2.25
Dividend dividend17 Sept 2014 · ex-date₹2
Dividend dividend18 Sept 2013 · ex-date₹1
Dividend dividend20 Aug 2008 · ex-date₹1.5

1

Board meeting to consider results5 Aug 2026

1–3 of 5

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

28 announcementsExport CSV

1 Oct 2026, 6:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

Earnings Call Transcript PDF

28 Sept 2026, 11:24 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 2:55 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

16 Sept 2026, 6:03 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

15 Sept 2026, 9:39 amOthers

Board Meeting Outcome for Outcome Of Bonus Allotment Committee Meeting For Allotment Of Bonus Equity Shares In The Ratio Of 1:1

Outcome without intimation PDF

8 Sept 2026, 3:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 6:34 pmCorp. Action

Record Date Intimation For The Purpose Of Bonus Issue

Record Date PDF

7 Sept 2026, 3:01 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot

Postal Ballot PDF

Date	Category	Subject	Filing
1 Oct 2026, 6:01 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
28 Sept 2026, 11:24 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.3%	52%	48.4%	44.3%	48.4%	50.6%	47.4%	47.6%
EBITDA margin %	—	4%	4.1%	5.2%	8.1%	9%	9%	9.2%
EBIT margin %	—	1.5%	1.1%	3.4%	6.5%	7.1%	7.3%	7.5%
PAT margin %	0.4%	1.3%	1.2%	2.6%	4.8%	4.9%	5.1%	5.4%
Working capital
Receivable days	46	—	59	49	24	28	26	30
Inventory days	99	—	132	130	115	108	109	122
Payable days	—	—	117	106	88	105	86	97
NWC days	—	—	74	74	51	32	49	55
Leverage
Current ratio	1.39	—	1.47	1.37	1.42	1.45	1.57	1.6
Debt to EBITDA	—	—	5.36	3.72	1.75	1.45	1.37	1.48
Debt to equity	0.67	—	0.63	0.87	0.62	0.56	0.48	0.47
Interest coverage	0.3	1.8	1	2.7	3.5	3.3	3.6	4
Asset turnover	1.6	—	1.15	1.52	1.77	1.73	1.74	1.55
Return ratios
Return on assets %	0.6%	—	1.4%	3.9%	8.6%	8.5%	8.9%	8.3%
Return on capital employed %	1.4%	—	5.2%	15.3%	24.8%	26.7%	28.1%	24.9%
Return on equity %	1.5%	—	3.4%	11.7%	21.2%	21.1%	20%	18.5%

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	15	33	75	95	-92	365	352	176	398
	-49	-58	-59	-26	-40	-26	-128	-104	-158
	11	31	-14	-62	153	-200	-152	101	-46
Net cash flow	-23	6	2	7	22	139	72	174	194
Free cash flow	-44	-1	-15	74	-175	297	228	59	212
CFO / Operating profit %	60.8%	135.2%	—	156.2%	-65.1%	142.7%	114.4%	43.7%	85.9%

Pearl Global Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

18

1

Announcements

1

18

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Bangladesh · revenue

Pearl Global Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Upcoming and recent1

Dividends18

Board meetings1

Announcements

Upcoming and recent1

Dividends18

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Bangladesh · revenue

1

18

1

1

18

1