Pearl Global Industries Ltd

Pearl Global Industries Ltd

₹ 651 -0.75%
01 Mar 12:28 p.m.
About

Pearl Global Industries Ltd. incorporated in 1987. [1] Pearl Global Industries Limited (PGIL) is a garment exporter, manufacturing from multiple sourcing regions within India and countries within South Asia. The product range includes knits, woven, and bottoms across men, women, and kids' wear segments. [2]

Key Points

Revenue Mix (FY20 vs FY16)
Domestic sales (42% vs 54%)
International sales (58% vs 46%) [1] [2]

  • Market Cap 2,837 Cr.
  • Current Price 651
  • High / Low 735 / 188
  • Stock P/E 18.2
  • Book Value 168
  • Dividend Yield 1.34 %
  • ROCE 19.2 %
  • ROE 21.1 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 45.0% CAGR over last 5 years
  • Debtor days have improved from 44.3 to 24.2 days.
  • Company's working capital requirements have reduced from 74.5 days to 48.2 days

Cons

  • Stock is trading at 3.91 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 12.1% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
360 525 436 681 700 896 851 860 717 730 894 961 704
350 494 418 641 657 856 784 808 644 667 811 883 639
Operating Profit 10 31 18 40 43 40 67 52 73 63 83 77 65
OPM % 3% 6% 4% 6% 6% 4% 8% 6% 10% 9% 9% 8% 9%
19 8 8 12 3 18 4 7 1 23 7 7 3
Interest 11 11 12 9 13 13 16 16 18 16 20 24 17
Depreciation 11 11 12 13 12 13 12 12 13 14 14 16 16
Profit before tax 7 17 2 30 21 32 44 32 44 56 58 46 35
Tax % -64% 7% 131% 15% 21% 11% 16% 19% 16% 5% 18% 14% 2%
11 16 -1 26 17 28 36 26 37 53 47 39 34
EPS in Rs 2.49 3.49 0.04 5.66 3.78 6.26 8.42 5.34 7.71 11.99 11.10 9.16 8.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,798 3,820 4,699 1,024 1,393 1,538 1,496 1,758 1,685 1,491 2,714 3,158 3,289
2,713 3,727 4,640 974 1,333 1,465 1,450 1,657 1,603 1,424 2,555 2,883 3,000
Operating Profit 86 93 59 50 61 73 46 100 82 67 159 275 289
OPM % 3% 2% 1% 5% 4% 5% 3% 6% 5% 4% 6% 9% 9%
16 17 60 24 24 30 47 51 44 36 37 34 41
Interest 30 34 40 23 21 35 38 43 53 47 61 82 77
Depreciation 25 27 29 16 17 19 23 26 42 44 48 51 59
Profit before tax 47 49 51 34 47 49 32 83 31 11 86 176 194
Tax % 17% 38% 13% 29% 23% 15% 29% 19% 30% -54% 18% 13%
39 30 44 24 37 42 23 67 22 17 70 153 173
EPS in Rs 7.27 5.49 8.92 5.79 8.47 9.38 5.56 15.54 4.98 3.99 15.74 34.47 40.45
Dividend Payout % -0% 9% 11% 19% 18% 16% 18% 10% -0% -0% 16% 11%
Compounded Sales Growth
10 Years: -2%
5 Years: 16%
3 Years: 23%
TTM: -1%
Compounded Profit Growth
10 Years: 16%
5 Years: 45%
3 Years: 78%
TTM: 27%
Stock Price CAGR
10 Years: 23%
5 Years: 56%
3 Years: 99%
1 Year: 219%
Return on Equity
10 Years: 9%
5 Years: 11%
3 Years: 12%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 22 22 22 22 22 22 22 22 22 22 22 22 22
Reserves 526 592 674 296 323 359 373 448 479 496 577 701 712
452 506 605 167 217 253 315 333 463 440 645 558 502
376 610 609 250 264 282 226 298 288 339 538 501 537
Total Liabilities 1,376 1,730 1,910 734 825 916 937 1,100 1,252 1,296 1,781 1,781 1,772
322 328 372 213 210 256 274 338 422 390 448 500 570
CWIP 11 3 15 3 11 16 8 8 36 47 15 33 37
Investments 10 26 42 11 19 13 37 33 38 55 55 60 94
1,033 1,373 1,481 507 585 630 617 722 756 804 1,263 1,188 1,071
Total Assets 1,376 1,730 1,910 734 825 916 937 1,100 1,252 1,296 1,781 1,781 1,772

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 -5 84 32 25 15 33 75 64 95 -92 365
-21 -34 -82 -55 -22 -49 -58 -59 -85 -26 -40 -26
-9 40 69 2 24 11 31 -14 15 -62 153 -200
Net Cash Flow -30 1 71 -20 27 -23 6 2 -6 7 22 139

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 66 73 52 43 50 38 35 46 48 59 49 24
Inventory Days 43 35 29 119 80 93 93 99 119 133 131 115
Days Payable 45 57 46 113 82 51 48 76 82 117 106 88
Cash Conversion Cycle 64 52 35 49 48 80 79 69 85 76 74 52
Working Capital Days 63 57 47 57 55 54 57 65 75 90 85 48
ROCE % 8% 9% 8% 6% 12% 13% 10% 14% 10% 5% 12% 19%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.58% 66.23%
6.39% 6.39% 6.44% 5.81% 5.66% 5.59% 5.33% 5.25% 5.17% 5.03% 5.30% 5.25%
2.23% 1.99% 1.46% 1.20% 1.43% 1.45% 1.29% 1.22% 1.24% 1.05% 0.50% 0.43%
24.79% 25.04% 25.52% 26.40% 26.32% 26.37% 26.79% 26.95% 27.01% 27.32% 27.61% 28.09%
No. of Shareholders 13,09112,85313,81513,60013,47713,50213,73613,61913,40013,83914,77617,071

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls