Gokaldas Exports Reports 4% YoY Growth in Total Income for FY26, Maintaining EBITDA Margins Amid Tariff Challenges
Gokaldas Exports Limited announced its financial results for the quarter and year ended March 31, 2026, showing a total income of Rs. 4,065 crores for the fiscal year, representing a 4% year-over-year (YoY) growth. The company reported that its EBITDA margin was maintained at 10.7% for FY26, despite facing headwinds from US tariffs.In the fourth quarter (Q4FY26), Gokaldas Exports recorded a total income of Rs. 1,087 crores, which marked a 5% YoY growth. While the total income from India grew by 2% YoY despite tariff challenges, the company’s Africa business demonstrated strong expansion, posting a 17% YoY growth.
The company reported an EBITDA of Rs. 135 crores in Q4FY26, resulting in a margin of 12.4%. This quarterly margin saw an impact of 131 basis points (bps), primarily attributed to US tariff rebates. Management noted that productivity gains and better cost management helped in absorbing the impact of tariffs.
Consolidated Financial Performance Overview
The company's overall financial performance for the fiscal year and the fourth quarter is detailed below:| Parameters (₹ Crore) | Q4FY26 | Q3FY26 | Q4FY25 | YoY (%) | QoQ (%) | FY26 | FY25 | YoY (%) |
|---|---|---|---|---|---|---|---|---|
| Total Income | 1,087 | 998 | 1,035 | 5% | 9% | 4,065 | 3,917 | 4% |
| EBITDA | 135 | 96 | 142 | -5% | 40% | 434 | 424 | 2% |
| EBITDA Margin | 12.4% | 9.7% | 13.7% | -131 bps | 275 bps | 10.7% | 10.8% | -15 bps |
| PBT | 70 | 26 | 79 | -12% | 168% | 172 | 218 | -21% |
| PAT | 36 | 15 | 53 | -32% | 146% | 100 | 159 | -37% |
Management Commentary
Commenting on the results for Q4FY26 and FY26, Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, stated that the company faced disruption due to penal US tariffs and volatile geopolitical events, which impacted costs and margins during the year.He acknowledged that exceptional teamwork, strong customer relationships, and relentless execution in the face of strong adversities helped the company deliver a superior business performance, allowing revenue growth and the maintenance of the EBITDA margin.
Mr. Ganapathi expressed confidence in the company's leadership depth and business capability to address potential external shocks. Looking ahead, he noted that long-term macroeconomic trends favor sourcing from India and other low-cost regions, positioning the company to leverage these trends as a strong global entity.
Gokaldas Exports is an established manufacturer and exporter of apparel, serving more than 50 countries. The company operates over 30 production units and employs more than 54,000 personnel.
GOKEX Stock Price Movement
On Friday, Gokaldas Exports Limited shares edged higher, closing at ₹697.3, marking a 1.16% gain for the session. The equity settled for the day on a total traded volume of 288,932 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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