Shares of this small-cap textile company jumped today by more than 15%!
The company has recently announced its Q4 result
Pearl Global Industries has reported results for the fourth quarter. In comparison to the same quarter last year, the company's net profit increased more than double, reaching Rs 27.92 crore during the quarter under review. However, the company's overall revenue fell by 22.62% to Rs 280.59 crore for Q4FY23 from Rs 362.62 crore for the same quarter the year before.
On a consolidated basis, in comparison to the same quarter last year, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 87.15% to Rs 53.32 crore. However, the company's overall revenue dropped by 19.50% to Rs 735.59 crore for Q4FY23 from Rs 913.81 crore for the same quarter the year before.
Share Price Movement of Pearl Global Industries Ltd
The scrip opened today at Rs 460.05 and touched a high and low of Rs 528.50 and Rs 460.05, respectively. Its 52-week high stood at Rs 615.05, whereas its 52-week low was Rs 327.25. The current market cap of the company is Rs 1,130.86 crore. Promoters hold 66.58%, whereas the Institutional and non-institutional holdings are 6.41% and 27.01%, respectively.
Pearl Global Industries Ltd. was established in 1987. A garment exporter, Pearl Global Industries Limited (PGIL) sources its products from various locations around South Asia and India. In the men's, women's and children's wear categories, the product line includes knits, wovens and bottoms. They currently operate across 11 strategic locations and six continents, utilising the advantages of each nation to produce a high level of value for their customers. For the fashion industry, they offer solutions for the worldwide supply chain. From design and development to manufacturing or sourcing to providing a variety of pre-retailing services, warehousing, and on-demand delivery at the door, they have complete control over the whole value chain.
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