Pearl Global's 9MFY26 Revenue Jumps 13.2% to ₹3,711 Crore, EBITDA Up 14%
Pearl Global Industries Limited reported 9MFY26 revenue of ₹3,711 crore, a 13.2% YoY increase, with EBITDA at ₹333 crore, up 14.0%. Management cited reduced US tariffs and FTAs as growth drivers. The company's long-term credit rating was upgraded to A+ (Stable) by ICRA.
The significant increase in revenue and EBITDA, coupled with a credit rating upgrade, suggests a strong positive impact on the company's financial health and investor confidence.
The company reported strong year-on-year growth in revenue and EBITDA, along with a credit rating upgrade, indicating a positive financial and operational performance.
Pearl Global Industries Limited has announced its Un-audited Financial Results for the quarter and period ended December 31, 2025. The company reported a robust performance with a 13.2% year-on-year growth in revenue for the nine months ended FY26, reaching ₹3,711 crore. The Adjusted EBITDA also saw a significant increase of 14.0% year-on-year, standing at ₹333 crore for the same period.
Management commentary highlighted the positive impact of reduced U.S. tariffs, which are expected to enhance profitability and support top-line growth. The India-EU Free Trade Agreement is anticipated to accelerate growth in India operations and allow the company to leverage existing EU customer relationships. The UK FTA is also seen as an opportunity to expand India's revenue contribution to the UK market. The company's capacity expansion in Bangladesh remains on track for completion by Q2 FY27, positioning it for further scaling.
Consolidated performance for 9MFY26 showed revenue at ₹3,711 crore, up 13.2% YoY, driven by high value-added product sales in Vietnam and Indonesia. Adjusted EBITDA stood at ₹333 crore, up 14.0% YoY, with margins at approximately 9.0%. Excluding tariff impacts and ramp-up costs, the Adjusted EBITDA margin is estimated at 10.1%.
Standalone performance for 9MFY26 indicated a slight decrease in revenue by 2.7% to ₹777 crore. However, Adjusted EBITDA margin improved to 5.5% from 3.3% YoY, mainly due to cost restructuring. Other income for standalone 9MFY26 included a dividend of approximately ₹43 crore from its subsidiaries.
In a significant development, the company's long-term credit rating was upgraded by ICRA to [ICRA] A+ (Stable) from [ICRA] A (Stable), and its short-term rating was upgraded to [ICRA] A1+ from [ICRA] A1. This upgrade is attributed to healthy performance, diversified manufacturing presence, a shift towards an asset-light model, and the recent UK FTA.
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