Pearl Global Industries Limited, India’s leading apparel exports company, witnessed growth of 39 per cent in recent concluded second quarter of current fiscal.
During Q2 of FY ’23, the revenue of the company was Rs.330.5 crore compared to Rs.216.3 crore in Q2 of FY ’22. It has seen a growth of 38.9 per cent. The PAT (Profit After Tax) was Rs. 25.9 core during the second quarter of FY ’23 compared to Rs. 25.5 crore during the second quarter of FY ’22.
Pulkit Seth, Vice-Chairman & Non-Executive Director of the company said, “While the short-term macro-environment seems arduous on the back of various global factors, we are soon becoming a preferred player in the ecosystem of our global customers. Having said this, in the long-term, the macro-economic factors do not pose a major challenge, with the growing preference for geographies where Pearl Global is a supplier, input prices subsiding, our widespread geographic presence and deep entrenched networks and relationships with a marquee clientele list.”
The company said that during the H1 of the current fiscal in overseas, revenue increase is mainly on account of improved realisation, whereas in India, it is a combination of an increase in the number of pieces shipped along with an improved realisation. In India, revenue partnership factory contribution to overall revenue increased from 9 per cent to 21 per cent.
The company has 8 manufacturing units in India with a total annual capacity of 28 million pieces per annum while its Bangladesh’s total 8 units have a capacity of 45 million pieces per year. 3 units in Vietnam and 2 in Indonesia have capacity of 4.5 million pieces and 3 million pieces respectively.
The Y-o-Y margin has improved because of product mix, operating leverage and operational efficiency.
