Apparels & Accessories company Pearl Global Industries announced Q4FY25 & FY25 results Consolidated Q4FY25 Financial Highlights: Total Revenue stood at Rs 1,229 crore, a growth of 40.1% YoY Adjusted EBITDA (excl. ESOP expense) came in at Rs 119 crore, up by 41.7% YoY, with margin at 9.7%. Excluding for losses in operations at new facilities (Guatemala, Bihar etc.) adjusted EBITDA for Q4FY25 stands at 10.5% PAT after Minority Interest stood at Rs 68 crore, marking a growth of 32.9% YoY Successfully shipped 20+ million pieces in a single quarter Consolidated FY25 Financial Highlights: Total Revenue reached Rs 4,506 crore, a robust growth of 31.1% YoY. Company achieved sales value / volume growth across geographies Adjusted EBITDA (excl. ESOP expense) stood at Rs 411 crore, a growth of 29.8% YoY. Adjusted EBITDA margins stood at 9.1% in FY25 PAT after Minority Interest stood at Rs 248 crore, up by 42.0% YoY Standalone Q4FY25 Financial Highlights: Total Revenue stood at Rs 397 crore, reflecting a strong 24.2% YoY growth Adjusted EBITDA (excl. ESOP expense) stood at Rs 40 crore, a robust growth of 96.0% YoY with margin growth of 380 bps YoY to 10.2% in Q4FY25 PAT nearly doubled to Rs 23 crore, marking 95.2% YoY increase Standalone FY25 Financial Highlights: Total Revenue stood at Rs 1,196 crore, a growth of 25.4% YoY. The increase in revenue is due to growth in wallet share with key customers Adjusted EBITDA (excl. ESOP expense) reached Rs 66 crore, a growth of 34.9% YoY, with 5.6% margin PAT stood at Rs 55 crore, a growth of 94.4% YoY Commenting on the Results, Pulkit Seth, Vice-Chairman & Non-Executive Director, said: “We are proud to report our best-ever consolidated performance for both Q4 and the full year of FY25, setting new records across all key financial indicators—revenue, adjusted EBITDA, and profit after tax. We have achieved Rs 1,000 crore+ revenue for all quarters during the current financial year. Our Group turnover has crossed Rs 4,500 crore and Group adjusted EBITDA has crossed Rs 400 crore mark, reflecting sustained financial strength. We have also declared a second interim dividend of Rs 6.50, taking the FY25 total to Rs 11.50 per share, with a 22.9% payout ratio. On the global front, despite early-year disruptions in Bangladesh, we maintained operational resilience, achieving our highest-ever shipment volumes without any delays. Our focus on execution, supply chain agility, and cost discipline has strengthened the core financial foundation of the company. With a healthy balance sheet, a diversified customer base across geographies, and our sustained commitment to creating operating efficiencies, we are well-positioned to deliver consistent earnings growth and long-term shareholder value. The India-UK Free Trade Agreement (FTA) further solidify our cost competitiveness in a high-margin market. Our multi-country manufacturing presence combined with stable cash flows gives us confidence in surpassing our FY28 vision—anchored on profitability, scalability, and value creation. 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." Commenting on the Results, Pallab Banerjee, Managing Director said: “We are delighted to share that FY25 has been a year of strong performance and continued growth momentum. Our India business, with existing capacities, now reflects an annualized revenue potential of over Rs 1,600+ crore, well-positioned for accelerated expansion, supported by the UK FTA and other upcoming trade agreements. In India (Standalone business excl. Bihar), we reached a key milestone by delivering double-digit Adjusted EBITDA margin of 10.2% in Q4FY25, in line with the guidance on leverage playing out with volume. Excluding initial costs associated with Guatemala and Bihar, our consolidated Adjusted EBITDA margins for Q4FY25 remained in the double-digit range, showcasing the underlying strength of our business. On the operations front, we shipped a record 74.3 million pieces in FY25 up from 56.9 million in FY24, reflecting deeper wallet share with existing clients and continued success in new client acquisitions. 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 Our established UK-based design and sales office, coupled with a strong customer base, further reinforces this trajectory. With our strategy to strengthen the order book for the full year and a strong focus on targeted operational efficiency, we remain optimistic about offsetting the impact of the tariff upcharge over the fiscal year. As competitiveness improves across geographies, we are confident in building a robust order book and accelerating our growth targets.” Result PDF