Integrated Filing — IndAS



General information about company

Scrip Code 532808
NSE Symbol PGIL
MSEI Symbol NOTLISTED
ISIN INE940H01022
Name of company Pearl Global Industries Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 11-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 31-10-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Geographical
Description of single segment
Start date and time of board meeting 11-11-2025   15:00:00
End date and time of board meeting 11-11-2025   16:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,31,293.00 2,54,084.71
Other income 814.57 1,944.77
Total income 1,32,107.57 2,56,029.48
2 Expenses
(a) Cost of materials consumed 53,687.50 1,07,049.82
(b) Purchases of stock-in-trade 16,745.23 30,369.63
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 2,047.45 1,318.14
(d) Employee benefit expense 23,164.37 45,110.55
(e) Finance costs 2,743.13 5,478.39
(f) Depreciation, depletion and amortisation expense 2,238.54 4,210.21
(f) Other Expenses
1 Other expenditure 23,545.85 46,892.41
Total other expenses 23,545.85 46,892.41
Total expenses 1,24,172.07 2,40,429.15
3 Total profit before exceptional items and tax 7,935.50 15,600.33
4 Exceptional items 1.98 (29.98)
5 Total profit before tax 7,937.48 15,570.35
6 Tax expense
7 Current tax 1,122.26 2,419.09
8 Deferred tax (381.94) (601.84)
9 Total tax expenses 740.32 1,817.25
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 7,197.16 13,753.10
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 7,197.16 13,753.10
17 Other comprehensive income net of taxes 3,117.24 2,127.34
18 Total Comprehensive Income for the period 10,314.40 15,880.44
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 7,331.60 14,113.84
Total profit or loss, attributable to non-controlling interests (134.44) (360.74)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 10,477.87 16,272.46
Total comprehensive income for the period attributable to owners of parent non-controlling interests (163.47) (392.02)
21 Details of equity share capital
Paid-up equity share capital 2,298.94 2,298.94
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 15.95 30.72
Diluted earnings (loss) per share from continuing operations 15.84 30.3
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 15.95 30.72
Diluted earnings (loss) per share from continuing and discontinued operations 15.84 30.3
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes to Financials Results for the quarter and half year ended September 30, 2025 1 The Standalone and Consolidated financial results of the company for the quarter and half year ended September 30, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 11, 2025. The Statutory Auditors of the company have carried out a limited review on these financial results. 2 The above financial results have been prepared in accordance with the recognition and measurement principles of accounting standards generally accepted in India, including the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 3 The standalone operations of the company falls primarily under manufacturing of garments which is considered to be the only reportable segment by the management. For consolidated operations, the Group has primarily four operating segments (Hong Kong, Bangladesh, India and Vietnam), which have been determined and presented on geographical basis. 4 Other income of Rs.4,771.74 lakh in respect of standalone financial results for the half year ended September 30, 2025, includes Dividend of Rs. 3,165.75 lakh received from foreign subsidiaries, Norp Knit Industries Limited and Pearl Global (HK) Limited. Out of these, dividend income of Rs. 1,839.40 lakh was recognised in quarter ended June 30, 2025, and Rs. 1,326.35 lakh in quarter ended September 30, 2025. 5 The Board of Directors of the Company have declared first interim dividend of Rs.6.00 per equity share of face value of Rs. 5/- each for the financial year 2025-26. 6 Exceptional items comprised profit on sale of Property, Plant & Equipment and Investment Property expenses aggregating to Rs.33.48 lakh (net) and Rs. 29.98 lakh (net) in respect of Standalone financial results and consolidated financial results respectively for the half year ended September 30, 2025. 7 The Nomination and Remuneration Committee (Committee) had granted 4500 ESOPs to the eligible employees of the company during the quarter ended September 30, 2025. The Committee also allotted 22,500 shares during the quarter to the eligible employees of the company on exercise of stock options. Employee benefit expenses is provided for Rs. 205.52 Lakh in standalone financials and Rs. 245.59 Lakh in consolidated financials for stock options given to employees of the company/subsidiary company. 8 The unaudited results of the company for the quarter and half year ended September 30, 2025 are also available on the Company's website (www.pearlglobal.com) and on the website of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com).



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 70,202.88
Capital work-in-progress 5,294.99
Investment property 5,532.23
Goodwill 2,293.95
Other intangible assets 249.59
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 3,294.83
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 1,298.41
Total non-current financial assets 4,593.24
Deferred tax assets (net) 1,429.34
Other non-current assets 1,420.78
Total non-current assets 91,017.00
2 Current assets
Inventories 67,956.40
Current financial asset
Current investments 12,792.91
Trade receivables, current 37,745.61
Cash and cash equivalents 42,569.86
Bank balance other than cash and cash equivalents 6,334.39
Loans, current 3,144.77
Other current financial assets 1,462.89
Total current financial assets 1,04,050.43
Current tax assets (net) 0.00
Other current assets 15,266.27
Total current assets 1,87,273.10
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 2,78,290.10
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 2,298.94
Other equity 1,26,459.02
Total equity attributable to owners of parent 1,28,757.96
Non controlling interest (1,706.29)
Total equity 1,27,051.67
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 9,641.82
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 23,296.70
Total non-current financial liabilities 32,938.52
Provisions, non-current 5,729.57
Deferred tax liabilities (net) 10.08
Deferred government grants, Non-current 0.00
Other non-current liabilities 51.49
Total non-current liabilities 38,729.66
Current liabilities
Current financial liabilities
Borrowings, current 39,781.43
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,151.48
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 60,624.87
Total Trade payable 61,776.35
Other current financial liabilities 3,185.87
Total current financial liabilities 1,04,743.65
Other current liabilities 3,971.68
Provisions, current 1,399.60
Current tax liabilities (Net) 2,393.84
Deferred government grants, Current 0.00
Total current liabilities 1,12,508.77
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 1,51,238.43
Total equity and liabilites 2,78,290.10
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Hong Kong 1,08,141.51 2,06,519.67
2 India 26,464.41 53,130.15
3 Bangladesh 43,984.10 77,029.37
4 Vietnam 26,269.23 59,943.59
5 Others 9,133.13 16,896.43
Total Segment Revenue 2,13,992.38 4,13,519.21
Less: Inter segment revenue 82,699.38 1,59,434.50
Revenue from operations 1,31,293.00 2,54,084.71
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Hong Kong 3,751.72 8,004.92
2 India 889.82 2,105.21
3 Bangladesh 2,606.14 4,518.82
4 Vietnam 3,706.29 7,523.75
5 Others (273.36) (1,103.96)
Total Profit before tax 10,680.61 21,048.74
i. Finance cost 2,743.13 5,478.39
ii. Other Unallocable Expenditure net off Unallocable income 0.00 0.00
Profit before tax 7,937.48 15,570.35
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Hong Kong 81,850.70 81,850.70
2 India 91,390.03 91,390.03
3 Bangladesh 79,509.33 79,509.33
4 Vietnam 40,798.54 40,798.54
5 Others 23,222.39 23,222.39
Total Segment Asset 3,16,770.99 3,16,770.99
Un-allocable Assets (38,480.89) (38,480.89)
Net Segment Asset 2,78,290.10 2,78,290.10
4 Segment Liabilities
Segment Liabilities
1 Hong Kong 37,695.37 37,695.37
2 India 29,992.99 29,992.99
3 Bangladesh 40,640.64 40,640.64
4 Vietnam 21,052.57 21,052.57
5 Others 9,249.12 9,249.12
Total Segment Liabilities 1,38,630.69 1,38,630.69
Un-allocable Liabilities 12,607.74 12,607.74
Net Segment Liabilities 1,51,238.43 1,51,238.43
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss -5679000 -11307000
Total Amount of items that will not be reclassified to profit and loss (56.79) (113.07)
2 Income tax relating to items that will not be reclassified to profit or loss (8.06) (16.13)
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss 295967000 206414000
Total Amount of items that will be reclassified to profit and loss 2,959.67 2,064.14
4 Income tax relating to items that will be reclassified to profit or loss (206.30) (160.14)
5 Total Other comprehensive income 3,117.24 2,127.34



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 15,570.35
Adjustments for reconcile profit (loss)
Adjustments for finance costs 5,472.68
Adjustments for decrease (increase) in inventories 2,556.25
Adjustments for decrease (increase) in trade receivables, current (4,900.64)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (2,130.47)
Adjustments for decrease (increase) in other non-current assets 6.36
Adjustments for other financial assets, non-current (244.63)
Adjustments for other financial assets, current (735.34)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 0.00
Adjustments for increase (decrease) in trade payables, non-current 5,976.96
Adjustments for increase (decrease) in other current liabilities 496.78
Adjustments for increase (decrease) in other non-current liabilities (6.50)
Adjustments for depreciation and amortisation expense 4,210.21
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 252.91
Adjustments for provisions, non-current 1,025.72
Adjustments for other financial liabilities, current 183.31
Adjustments for other financial liabilities, non-current (28.51)
Adjustments for unrealised foreign exchange losses gains (285.07)
Adjustments for dividend income 0.00
Adjustments for interest income 929.95
Adjustments for share-based payments 245.59
Adjustments for fair value losses (gains) (117.56)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (318.45)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 2,629.48
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 13,359.13
Net cash flows from (used in) operations 28,929.48
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,633.13
Other inflows (outflows) of cash 29.98
Net cash flows from (used in) operating activities 27,326.33
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 550.54
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 52.61
Purchase of property, plant and equipment 6,490.92
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 77.65
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 809.66
Cash receipts from repayment of advances and loans made to other parties 1,020.95
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 951.19
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (14,256.68)
Net cash flows from (used in) investing activities (20,160.70)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 95.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 1,678.66
Repayments of borrowings 7,410.31
Payments of lease liabilities 2,345.03
Dividends paid 3,268.07
Interest paid 4,346.83
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (15,596.58)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (8,430.95)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (8,430.95)
Cash and cash equivalents cash flow statement at beginning of period 51,000.81
Cash and cash equivalents cash flow statement at end of period 42,569.86