Gokaldas Exports consolidated FY26 Total Income up by 4% YoY; EBITDA margins maintained at 10.7% despite US tariff headwinds

On Friday, shares of Gokaldas Exports Ltd closed at Rs 694.60 per share, up 1.16 per cent from its previous closing price of Rs 686.65 per share. The stock touched an Intraday high of Rs 714, surging nearly 3.98 per cent during the session. The stock’s 52-week high is Rs 1,050 per share and its 52-week low is Rs 531 per share.

Gokaldas Exports Ltd reported a consolidated total income of Rs 1,087 crore in Q4FY26, registering a growth of 5 per cent year-on-year compared to Rs 1,035 crore in Q4FY25. Sequentially, total income increased 9 per cent from Rs 998 crore reported in Q3FY26.

The company’s India business recorded a 2 per cent year-on-year growth despite tariff-related challenges during the quarter, while the Indian apparel export industry declined by 10 per cent. Its Africa business posted a healthy 17 per cent year-on-year growth, supported by the renewal of AGOA and better U.S. tariff positioning compared to competing regions.

EBITDA for Q4FY26 stood at Rs 135 crore with an EBITDA margin of 12.4 per cent. Margins declined by 131 basis points year-on-year mainly due to U.S. tariff rebates. However, productivity improvements and better cost management helped the company absorb a large part of the tariff impact.

Profit before Tax during the quarter came in at Rs 70 crore, down 12 per cent year-on-year from Rs 79 crore reported in Q4FY25. Profit after tax stood at Rs 36 crore, declining 32 per cent year-on-year from Rs 53 crore.

For the full financial year FY26, Gokaldas Exports Ltd reported total income of Rs 4,065 crore, up 4 per cent year-on-year from Rs 3,917 crore in FY25. EBITDA stood at Rs 434 crore compared to Rs 424 crore in FY25, reflecting a growth of 2 per cent.

The company’s FY26 EBITDA margin stood at 10.7 per cent, marginally lower by 15 basis points compared to 10.8 per cent in FY25 due to the impact of U.S. tariffs. Profit before tax for FY26 declined 21 per cent year-on-year to Rs 172 crore from Rs 218 crore, while profit after tax dropped 37 per cent to Rs 100 crore from Rs 159 crore.

Commenting on the performance, Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, said geopolitical volatility and penal U.S. tariffs impacted costs and margins during the year. He added that strong execution, customer relationships, productivity gains, and operational discipline helped the company maintain margins and deliver growth despite external challenges.

The management said it remains confident about handling near-term global uncertainties while remaining optimistic about long-term sourcing opportunities shifting towards India and other low-cost manufacturing regions.

Established in 1979, Gokaldas Exports Ltd is one of India’s largest apparel manufacturers and exporters. The company exports to more than 50 countries and operates over 30 production units with an annual manufacturing capacity of around 87 million garments. It employs more than 54,000 people globally.

The company has a market cap of over Rs 5,089.59 crore. The stock price has surged over 436.99 per cent in the last 5 years. The stock has also rallied nearly 30.81 per cent from its 52-week low of Rs 531 per share.

Disclaimer: The article is for informational purposes only and not investment advice.

What are your views on Gokaldas Exports Ltd after its FY26 performance? Share your thoughts in the comments below.