Manufactures and exports ready-made garments from production hubs in Asia to global apparel brands and retailers in the U.S., EU and U.K. FY26 topline was ₹5,025 crore (up 11.5% year-on-year), with PAT of ₹270 crore. Hong Kong contributes the largest share of segment revenue at 48.1%, followed by Bangladesh at 20.7%, India at 13.4%, Vietnam at 12.0% and Others at 5.8%. Installed garment-making capacity crossed 101 million pieces in FY26, against a stated FY28 target of 125-130 million pieces. Materials are the biggest cost line at 42.7% of revenue, followed by employees at 19.0% and other operating expenses at 19.3%; capex was 3.7% of revenue in FY26. The board has approved a stock split and bonus issue, subject to shareholder approval. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hong Kong (48%), Bangladesh (21%), India (13%), Vietnam (12%), Others (6%). Cyclical, labour-intensive global garment manufacturing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,714 | 3,158 | 3,436 | 4,506 | 5,025 |
| EBITDA (ex other income) | 147 | 269 | 307 | 408 | 463 |
| margin % | 5.4 | 8.5 | 8.9 | 9.1 | 9.2 |
| Owners' profit | 68 | 149 | 175 | 248 | 278 |
| EPS, as reported (₹) | 31.46 | 68.90 | 40.26 | 54.96 | 60.34 |
| ROE % · ROCE % | 11.4 · 15.2 | 20.6 · 25.0 | 20.7 · 25.0 | 20.1 · 24.8 | 18.8 · 22.3 |
| Debt / equity (x) | 0.92 | 0.60 | 0.54 | 0.48 | 0.48 |
| Cash from operations | (91) | 365 | 352 | 176 | 398 |
| Capex | (83) | (68) | (124) | (118) | (187) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,202 | 1,023 | 1,229 | 1,228 | 1,313 | 1,170 | 1,314 | 1,528 |
| Profit before tax | 63 | 54 | 78 | 76 | 79 | 59 | 95 | 120 |
| Net profit | 56 | 48 | 65 | 66 | 72 | 52 | 81 | 99 |
| EPS (₹) | 12.90 | 12.52 | 15.10 | 14.76 | 15.95 | 11.57 | 18.05 | 21.77 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Hong Kong | 3,937 | 48.1 |
| India | 1,094 | 13.4 |
| Bangladesh | 1,692 | 20.7 |
| Vietnam | 984 | 12.0 |
| Others | 474 | 5.8 |
| Total, before eliminations | 8,182 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Newspaper publication of bonus shares record date - Sept 11, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Bonus issue 1:1, record date fixed Sep 11 2026 | corporate actions | high | — | — |
| 7 Sept 2026 · Postal ballot: bonus issue and director appointment approved | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Postal ballot results: Vohra appointed WTD, bonus shares approved | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Investor Day 2026 scheduled for September 24 in Mumbai | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Promoter Dr Deepak Kumar Seth sells 1.19% stake in Pearl Global | ownership changes | high | — | — |
| 21 Aug 2026 · Pearl Global grants 2,500 ESOPs to employees at Rs.300 per option | general | low | — | — |
| 13 Aug 2026 · Q1 FY27: Revenue up 24.5% to Rs 1,528 cr, PAT up 51% to Rs 99 cr | investor communications | medium | — | — |
| 7 Aug 2026 · Newspaper advertisement confirming Postal Ballot Notice dispatch | compliance | minimal | — | — |
| 6 Aug 2026 · Q1 FY27 earnings call recording uploaded on company website | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| — |
| 50.8 |
| 58.6 |
| — |
| 21.1 |
| ARVIND LIMITED | 15,120 | 36.5 | 3.65 | 15.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED ◆ | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| LUX INDUSTRIES LIMITED | 3,443 | 32.3 | 1.89 | 19.2 | 5.8 | 7.3 | 8.4 | 8.2 |
| KEWAL KIRAN CLOTHING LTD | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.7 | 17.7 | 20 of 39 | 50% |
| P/B | 3.8 | 1.6 | 29 of 35 | 18% |
| ROCE | 16.8 | 8.4 | 8 of 44 | 84% |
| ROE | 18.8 | 5.8 | 5 of 37 | 89% |
| Debt / Equity | 0.5 | 0.3 | 31 of 37 | 17% |
| EBITDA margin | 11.2 | 10.4 | 16 of 35 | 56% |
| Revenue growth | 24.5 | 7.9 | 11 of 37 | 72% |
| Profit growth | 51.4 | 6.8 | 10 of 37 | 75% |
| Market cap | 5506 | 158 | 4 of 44 | 93% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
