Apparel exporter, Gokaldas Exports reported consolidated total income of Rs 1,180 crore (US $123.69 million) for the quarter ended June 30, 2026 (Q1FY27), up 21% from Rs 977 crore (US $102.41 million) in the corresponding quarter of the previous year.
The growth was driven by a 16% increase in the company’s India business and a 45% rise in its Africa business following the renewal of the African Growth and Opportunity Act (AGOA). Despite the higher revenue, the EBITDA margin remained stable at 11.8%, as operating leverage benefits were offset by higher wages and other factor costs.
Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, said the growth was supported by stronger order execution in India and higher volumes in Africa.
He noted that the company has moved beyond penal tariffs and now has tariff parity with global peers, enabling it to compete on a level playing field.
Consolidated revenue from operations increased to Rs 1,153.51 crore (US$120.91 million) from Rs 955.79 crore (US$100.19 million) in Q1FY26. Consolidated net profit rose 7% year on year to Rs44 crore (US $4.61 million), compared with Rs41 crore (US $4.30 million) in the year-ago quarter.
On a standalone basis, Gokaldas Exports reported net profit of Rs 68.64 crore (US$7.20 million), compared with Rs 47.97 crore (US $5.03 million) in Q1FY26. Standalone revenue from operations increased to Rs 751.66 crore (US $78.79 million) from Rs 638.22 crore (US $66.90 million).
The India business grew 16% year on year despite a 12% decline in overall Indian apparel exports during the quarter. Meanwhile, the Africa business recorded 45% growth, supported by increased volumes following the renewal of AGOA.
During the quarter, Gokaldas Exports received an order from the National Company Law Tribunal (NCLT), Mumbai Bench, directing it to convene a meeting of equity shareholders to consider the proposed amalgamation of BRFL Textiles Private Limited (BTPL) with the company. The scheme was subsequently approved by members at a meeting held on July 31.
As of June 30, 2026, Gokaldas Exports held a 19% equity interest in BTPL, having subscribed to optionally convertible debentures worth Rs 225 crore (US $23.58 million) and extended corporate guarantees of Rs 315 crore (US $33.02 million). The company said the amalgamation process had no material impact on the reported financial results.
