Gurgaon-based home-grown apparel manufacturer and exporter Pearl Global Industries Limited (PGIL) reported its second quarter and first half results for the financial year 2015/16. Second quarter revenues grew by 41.3 per cent driven by higher capacity utilization and robust demand. EBIDTA grew by 57.3 per cent in line with the growth in revenues. EBIDTA Margin improved by 34 bps YoY to 3.3 per cent.
Commenting on the results, Rajkumar Chawla, Chief Financial Officer of the company, stated, “The second quarter witnessed strong sales momentum driven by higher capacity utilization. Positive operating leverage led to expansion in operating margins. We expect to maintain this momentum even during second half of the financial year backed by good visibility on the order book front. Improving top-line performance will help up to improve our overall profitability over the next few quarters.
Q2 FY16 PAT increased 100.5 per cent majorly driven by improved operating performance and also due to lower finance costs. PAT Margin improved by 32 bps to 1.1 per cent. Pearl Global Industries with its well-diversified vertically-integrated manufacturing base spread across India, Indonesia and Bangladesh is the preferred vendor to leading global brands such as GAP, Banana Republic, Kohl's, Macy's, Ralph Lauren and Tom Tailor.
Dedicated in-house design team of 75 designers located in Hong Kong, India and Indonesia, provide superior market intelligence and focus on creating brand specific product designs to generate and accelerate business opportunities for the global brands and retailers.
www.pearlglobal.com
