Pearl Global Q1FY27: record ₹1,528 Cr revenue, consol PAT up 51% YoY, margins expand

Consolidated revenue came in at ₹1,528.26 Cr, up 24.5% YoY and 16.3% QoQ — the company's highest-ever quarterly revenue, as flagged in its own press release. Consolidated PAT was ₹99.23 Cr, up 51.4% YoY (22.5% QoQ); adjusted for small one-off items in both periods (₹2.73 Cr net loss this quarter vs ₹0.32 Cr a year ago, both from PP&E sale/property-tax settlement with a Municipal Corporation), adjusted YoY PAT growth is a marginally stronger ~54.8%. EPS rose to ₹21.77 from ₹14.76 YoY. Net profit margin expanded to 6.45% of total income from 5.29% YoY and 6.12% QoQ.

Growth was broad-based across geographies: Vietnam's segment profit-before-tax-and-interest rose to ₹61.75 Cr from ₹38.17 Cr YoY (+62%), Bangladesh PBIT grew to ₹28.13 Cr from ₹19.13 Cr YoY (+47%), while Hong Kong PBIT was roughly flat at ₹25.06 Cr versus ₹42.53 Cr YoY (down, reflecting mix shift toward Vietnam/Bangladesh). Standalone (India-only) operations remain a small slice of the group — revenue ₹339.61 Cr and PAT ₹12.44 Cr — reinforcing that overseas subsidiaries are the primary growth engine.

The stock went into the print at ₹2,106, up 7.4% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 2 consecutive quarters.

Management's press release framed the quarter as reflecting "the strength of our diversified manufacturing platform" amid an evolving trade and tariff environment — consistent with the print. Against the prior guidance of a full-year EBITDA margin of 10% for FY27 and a 12-14% revenue CAGR toward ₹6,000 Cr by FY28, Q1's 24.5% YoY revenue growth runs well ahead of the guided CAGR, and operating margin (by our calculation, EBITDA/total income) is tracking at roughly 11%, already above the 10% full-year target this early in the year — a beat on both fronts. No verifiable street consensus estimate specific to this quarter could be located, so vsStreet is marked unknown rather than assumed. Alongside results, the board approved a 1:1 bonus issue (shares expected credited by October 4, 2026, record date pending) and appointed Major General Sandeep Vohra as Whole-Time Director for three years, while deferring a proposed stock split.