Fashion
India’s Pearl Global Industries Ltd’s revenue rises 12.7% in H1 FY26
PGIL revenue was driven by high value-added product sales in Vietnam and Indonesia. Adjusted EBITDA stood at ₹236 crore (~$26.6 million), marking 18.4 per cent YoY growth, with margins improving to 9.3 per cent. Excluding tariff costs of around ₹21 crore and initial losses at new facilities in Guatemala and Bihar, the margin stood higher at 10.6 per cent. The profit after tax (PAT) rose to ₹138 crore (~$15.6 million), a 17 per cent YoY increase.
Pearl Global Industries Limited has reported strong performance in H1 FY26, with revenue rising 12.7 per cent YoY to ₹2,541 crore (~$286.9 million), driven by high-value product sales from Vietnam and Indonesia.
Adjusted EBITDA grew 18.4 per cent to ₹236 crore (~$26.6 million), while PAT rose 17 per cent.
The company achieved record shipments, declared dividends, and advanced sustainability initiatives.
Standalone revenue stood at ₹531 crore (~$59.9 million) for H1 FY26, while adjusted EBITDA surged 72.7 per cent YoY to ₹30 crore (~$3.4 million), translating to a 5.7 per cent margin. PAT rose to ₹41 crore (~$4.6 million), up from ₹27 crore in H1 FY25.
For Q2 FY26, PGIL reported revenue of ₹1,313 crore (~$148.3 million), up 9.2 per cent YoY. Adjusted EBITDA (excluding ESOP expenses) reached ₹122 crore (~$13.8 million), a 23.6 per cent increase, with margins improving 108 basis points (bps) to 9.3 per cent. PAT climbed 29.4 per cent YoY to ₹72 crore (~$8.1 million).
Standalone revenue for Q2 FY26 stood at ₹264 crore (~$29.8 million), while adjusted EBITDA reached ₹11 crore (~$1.2 million), reflecting a margin of 4 per cent. Profit after tax (PAT) rose to ₹15 crore (~$1.7 million), compared to ₹12 crore in the same quarter of the previous fiscal.
As of September 30, 2025, PGIL’s net worth increased to ₹1,271 crore (~$143.5 million) from ₹1,146 crore in March 2025. The company’s cash and bank balance (excluding LC payments) stood at ₹416 crore (~$47 million), with an additional ₹128 crore (~$14.4 million) in mutual funds. Working capital days were maintained at 33, and return on capital employed (ROCE) improved by 375 basis points to 29 per cent.
PGIL shipped 19.9 million pieces in Q2 FY26, its highest ever for a second quarter. The board declared an interim dividend of ₹6 per equity share, representing a 20 per cent payout ratio and 120 per cent of face value. Additionally, PGIL received ₹32 crore (~$3.6 million) in dividends from subsidiaries in Bangladesh and Hong Kong.
The company also upgraded to eFlow Nanobubble technology in Bangladesh, enabling up to 32 per cent water savings, a 9 per cent reduction in power use, and 20 per cent higher time efficiency.
“We are delighted to report another quarter of encouraging performance in Q2 FY26 despite uncertain and volatile geo-political and macro environment. Consolidated revenue for H1 FY26 crossed ₹2,500 crore milestone, reaching ₹2,541 crore, a growth of 12.7 per cent YoY. This marks a significant achievement underscoring the strength of our diversified, multi-country manufacturing model. Reflecting our continued commitment to shareholder value, the board has declared an interim dividend of ₹6 per equity share, representing a 20 per cent payout ratio (wrt Group PAT) and 120 per cent of face value of share,” said Pulkit Seth, vice-chairman and non-executive director at Pearl Global Industries.
“Our growth this quarter was led by sustained momentum in Vietnam and Indonesia, which delivered double-digit volume expansion and maintained strong operational performance. These hubs continue to validate our strategic foresight in building multi-hub production capabilities that balance scale with agility,” added Seth. “As we close the first half of FY26 on a strong footing, our focus remains on sustainable, profitable growth, anchored in agility, technology, and long-term stakeholder value creation.”
“We are pleased to share another quarter of strong financial performance, reflecting the resilience of our operations amid an evolving trade environment. In Q2FY26, Pearl Global achieved revenue of ₹1,313 crore and improved profitability, demonstrating our ability to navigate trade complexities, including 50 per cent US tariff on India. Adjusted EBITDA (excluding ESOP costs) of ₹122 crore, with margins at 9.3 per cent, improve by 108 BPS YoY. Excluding tariff cost/loss at new facilities (Guatemala & Bihar) stands at 10.1 per cent, driven by improved product mix and higher realisation from Vietnam and Indonesia,” said Pallab Banerjee, managing director, Pearl Global Industries.
“We continue to invest in India and Bangladesh and execute our capex plan of ₹250 crore (~$28.2 million) for capacity expansion, sustainability, and efficiency improvement. Expansion of 5-6 million pieces in Bangladesh, 2.5-3.5 million pieces in India, and digitisation of our supply chain are enhancing transparency, agility, and scalability across operations,” added Banerjee.
Fibre2Fashion News Desk (SG)
Support will be provided through two-way contracts for difference, where a competitively determined strike price ensures revenue stability. If alternative fuel prices fall below this level, the Italian government will compensate producers; if they exceed it, producers will repay the difference. The scheme will run until 31 December 2029.
The European Commission has approved a €6 billion (~$6.5 billion) Italian state aid scheme to produce 200,000 tonnes of renewable hydrogen annually.
Using contracts for difference, the programme will support decarbonisation in transport and industry by ensuring price stability, while promoting investment, competitiveness, and emissions reduction across high-impact sectors.
The Commission concluded that the measure is necessary, proportionate, and incentivises investment that would not occur without public support. It also found that the environmental benefits, particularly in reducing emissions from hard-to-abate sectors, outweigh potential competition distortions.
Fibre2Fashion News Desk (JP)
Bringing together two world-class brands, each with loyal supporters around the globe, the alliance is the first major sports partnership for UNIQLO in the United States. Under the agreement, UNIQLO will have naming displays in various stadium locations including above the batter’s eye in center field, on the facade beneath the press box, and on the grass along the baselines.
“With UNIQLO, we have established a historic partnership that we’re very proud to present in our ballpark,” said Stan Kasten, President & CEO, Los Angeles Dodgers. “UNIQLO is as distinguished in their field as the Dodgers are on ours. Both organizations aspire to be global leaders and to set the standard in our respective industries and communities.”
The Los Angeles Dodgers and Uniqlo have formed a landmark partnership featuring prominent “Uniqlo Field at Dodger Stadium” branding across the venue.
The collaboration, Uniqlo’s first major US sports deal, will include fan events, LifeWear giveaways, and dedicated in-store displays in California to strengthen engagement with both Dodgers fans and Uniqlo customers.
Commenting on the news, Tadashi Yanai, UNIQLO Founder and Fast Retailing Group Chairman, said, “It is a great honor to partner with the Los Angeles Dodgers – such a prestigious, world-class team that innovates with the times. For everyone at UNIQLO, this is a dream partnership that brings people everywhere together. Like the Dodgers, UNIQLO aims to be No. 1 in the world. We look forward to teaming with the Dodgers to deliver new value to fans and customers in Los Angeles and the United States as we continue our work to become the most loved and most trusted brand here and around the world.”
With a scope wider than typical sports sponsorships, the new partnership includes:
A focus on Dodgers fans
An in-stadium event will be hosted early in the coming season at UNIQLO Field at Dodger Stadium. This will be a large-scale event, introducing UNIQLO to thousands of Dodgers fans with giveaways of UNIQLO LifeWear items.
Efforts to engage UNIQLO customers
UNIQLO plans to create dedicated in store spaces at select locations in California, with a focus on the Los Angeles area, to showcase and promote the partnership.
A genuine commitment to the Los Angeles community
Joint contributions to the community will be an ongoing priority of the partnership. UNIQLO and the Dodgers are now working on a range of community-impact initiatives that specifically benefit the citizens and communities of Los Angeles, with a key focus on the next generation. Details will be announced around May.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Total apparel imports (HS ** and ** combined) stood at NZ$***.** million (~$***.** million) in January–February ****, down from NZ$***.** million in the same period of ****, marking a decline of **.* per cent year on year.
The country’s imports of knitted apparel (HS **) fell to NZ$***.** million (~$***.** million) in the first two months of current year, compared with NZ$***.** million a year earlier, registering a decline of **.** per cent. Similarly, non-knitted apparel (HS **) imports dropped to NZ$***.** million (~$**.** million) from NZ$***.** million, reflecting a decrease of **.** per cent. The parallel contraction across both segments indicates broad-based weakness in garment imports rather than category-specific pressure.
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