Gokaldas Exports Limited filed a press release disclosing its un-audited consolidated financial results for the second quarter and half year ended September 30, 2026 (Q2 FY27 and H1 FY27).

Financial Performance Highlights

Q2 FY27 Performance (Quarter Ended September 30, 2026):

  • Total Income: ₹1,135 crore, representing 13% year-over-year (YoY) growth from Q2 FY26's ₹1,003 crore
  • EBITDA: ₹127 crore, showing 52% YoY growth from Q2 FY26's ₹84 crore
  • EBITDA Margin: 11.2%, improving by 287 basis points from 8.3% in Q2 FY26
  • Profit Before Tax (PBT): ₹49 crore, increasing 164% YoY from ₹19 crore in Q2 FY26
  • Profit After Tax (PAT): ₹41 crore, surging 410% YoY from ₹8 crore in Q2 FY26

H1 FY27 Performance (Half Year Ended September 30, 2026):

  • Total Income: ₹2,315 crore, representing 17% YoY growth from H1 FY26's ₹1,980 crore
  • EBITDA: ₹266 crore, showing 32% YoY growth from H1 FY26's ₹202 crore
  • EBITDA Margin: 11.5%, improving by 129 basis points from 10.2% in H1 FY26
  • Profit Before Tax (PBT): ₹112 crore, increasing 49% YoY from ₹76 crore in H1 FY26
  • Profit After Tax (PAT): ₹86 crore, growing 73% YoY from ₹50 crore in H1 FY26

Business Segment Performance

Q2 FY27 Segment Growth:

  • India Business: Total income grew 10% YoY, attributed to strong order book and superior execution
  • Africa Business: Total income grew 32% YoY, driven by higher volumes and better realizations

H1 FY27 Segment Growth:

  • India Business: Total income grew 13% YoY, benefiting from higher order book and improved execution
  • Africa Business: Total income grew 39% YoY, driven by higher volume and realizations

Balance Sheet Update

As of September 2026, net debt declined to ₹429 crore compared to ₹553 crore as of March 2026, reflecting an improvement in the company's net debt position during H1 FY27.

Management Commentary

Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, commented: "Better order execution in India and higher volume and realizations in Africa led to a strong income growth in the quarter. Focus on productivity gains and a strong order book should help growth and margins going forward."

Contextual Factors

The company noted that the strong EBITDA growth was supported by improved product mix and productivity gains, but was also aided by a lower base in the corresponding quarter last year which was impacted by US tariff. Gains were partially capped by an increase in wages and higher factor costs driven by rising oil prices.

Company Background

Gokaldas Exports, established in 1979, is one of India's largest manufacturers and exporters of apparel, exporting to more than 50 countries. The company currently has over 30+ production units with annual production capacity of approximately 92 million garments and employs 55,000+ employees.