Pearl Global News and Updates

Apparels & Accessories company Pearl Global Industries announced FY24 results: Revenue grew by 8.8% YoY to Rs 3,436.2 crore in FY24 driven by a 21% YoY increase in overseas revenue Adjusted EBITDA (excl. ESOP expense) for FY24 stood at Rs 316.4 crore, an increase of 22.5% YoY Enhancements in operational efficiency contributed to increased revenue in Bangladesh, leading to economies of scale and consequently improving the EBITDA margin from international operations FY24 Adjusted EBITDA Margin stood at 9.2%, a growth 100 bps YoY. The growth was achieved on the back of: Continues improvement based on better operational efficiency Increased profitability due to improving efficiency in Bangladesh and Vietnam units ROCE improved to 28.2% in FY24 from 24.2% in FY23, a growth 400 bps YoY. The growth was achieved on the back of: Prudent capital allocation policy Profitability at group level Efficient working capital management Working Capital Days declined to 30 days as on 31st March 2024 from 38 days as on 31st March 2023 Commenting on the Results, Pallab Banerjee, Managing Director said, “We are pleased to announce that our FY24 performance has witnessed strong growth year-over-year across all metrics. Our group level Adjusted EBITDA crossed Rs 300 crore mark on a full year basis. Increased profitability from our overseas operations, combined with a better product mix and enhanced operational efficiency, has boosted our EBIDTA margin (excluding ESOP expenses) by 100 basis points year-over-year. Our steadfast commitment to maintaining a multinational presence and implementing sustainable practices is crucial for successfully navigating today’s dynamic business environment. With our extensive geographic reach and strong relationships with esteemed clients, we are well-positioned to consistently deliver outstanding results.” Result PDF

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