Pearl Global Industries Limited · NSE:PGIL
Pearl Global Industries — Investor Day (September 2026)
50 slides from Pearl Global Industries's investor day presentation, September 2026
Slide 1: Weaving Growth through Flux
Weaving Growth Weaving Growth through Flux Expanding Presence, Sustained by Trust Pearl Global Industries Limited Investor Day 2026
Slide 2: Safe Harbour
Safe Harbour This presentation has been prepared by and is the sole responsibility of Pearl Global Industries Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitat
Slide 3: Agenda
Agenda Overview Geography-wise Update Diversification That Builds Resilience Where We Said We'd Be vs. Where We Are Risk Mitigation & Governance Way Forward 3
Slide 4: Today's Participants
Today’s Participants Mr. Pulkit Seth Mr. Pallab Banerjee Mr. Sanjay Gandhi Vice-Chairman Managing Director Group CFO 4
Slide 5: Overview
Overview 5
Slide 6: Pearl Global Today
Pearl Global Today Our Vision To be the Global Leader providing end-to – end supply chain solutions to the fashion 25 100+ industry. Manufacturing Units Designers across design across 5 geographies network Our Mission To continuously exceed customer and shareholder expectations by strategically driv
Slide 7: Growing Stronger Through Every Turn
Growing Stronger Through Every Turn Timeline up to 2022 Updates after 2023 2007 2017 2023 1987 Commenced Listed on the Commenced operations Strengthened manufacturing commercial NSE and BSE 2014 in Vietnam 2021 capacity through a new operations Inaugurated the corporate office facility in Indonesia
Slide 8: Globally Present
Globally Present Gurugram Muzaffarpur Hong Kong The us (New York) Guatemala ] Bangladesh Indonesia Bengaluru
Slide 9: Architects of our Vision & Leaders Behind our Mission
Architects of our Vision & Leaders Behind our Mission Leaders Mrs. Shifalli Seth Mr. Pallab Banerjee Mr. Sanjay Gandhi Thought Leader- Managing Director Group CFO Design & CSR Dr. Deepak Kumar Seth (Chairman) Mr. Gurusankar Mr. Amit Kumar Gurumoorthy Mr. Vikas Mehra CEO – Indonesia, PT (CEO - Bangla
Slide 10: Board of Directors
Board of Directors Dr. Deepak Kumar Seth Mr. Pulkit Seth Mrs. Shifalli Seth Mr. Pallab Banerjee Chairman, Non-Executive, Vice Chairman, Non-Executive, Non-Executive, Managing Director Non-Independent Director Non-Independent Director Non-Independent Director Mr. Rahul Mehta Narendra Mr. Sanjay Kapoo
Slide 11: Geography-wise Update
PEARL GLOBAL Geography-wise Update
Slide 12: India
India 8 25.9 Mn pc 62% Rs. 1,081 Cr In-house Annual production Blended Utilization FY26 standalone revenue Manufacturing Units capacity Manufacturing Strengths FTA Boost 01 Product Range 02 Cost-efficient Expansion • UK Growth: UK revenue targeted to grow Woven and Knit products 2–3x over the next 1
Slide 13: Bangladesh
Bangladesh 4 5 59.7 million pieces 85% In-house Partnership Manufacturing Units Annual production capacity Blended Utilization ~7 million pieces at Optimum Utilization* Manufacturing Strengths 01 Cost Base 02 Trade Access Manufacturing Locations Competitive cost structure backed Duty-free market acc
Slide 14: Vietnam
Vietnam 1 4 7.1 million pieces 80% In-house Partnership Manufacturing Units Annual production capacity Blended Utilization ` Manufacturing Strengths Wage Management 01 CPTPP Trade Advantage 02 Through Automation A strategic hub for premium, Vietnam benefits from duty-free technical manufacturing Inv
Slide 15: Indonesia & Guatemala
Indonesia & Guatemala 2 In-house 1 In-house Manufacturing Units Manufacturing Unit 47% 90% Indonesia Utilization (Blended) Guatemala Utilization (Blended) Manufacturing Locations 4.8 Mn 3.3 Mn Semarang pieces p.a. pieces p.a. Kabupaten Demak High value-added woven, Women's Specialised in Polos, Heav
Slide 16: #MISSION ZERO: Efforts Towards Sustainable Production
Efforts Towards Sustainable Production MAKE THE WORLD A BETTER PLACE WITH LESS It’s our new technology to reduce 85%the water Dry bag softener step Aqualess Oz-One Dry Bag Novascraper Indigo Aged Powder Softner 85 0-33 % WATER LOW IMPACT REDUCTION Conventional VS #MISSION ZERO In conventional proces
Slide 17: Sustainability: Driving Efficiency, Responsibility & Resilience
Sustainability: Driving Efficiency, Responsibility & Resilience Focused initiatives across water conservation, waste management, renewable energy and green cover. Water Conservation Waste Management Renewable Energy Green Belt Initiative 41% 3R Framework 1,629 Reduce, Reuse, Recycle across Trees pla
Slide 18: CSR: Empowering People, Strengthening Communities
CSR: Empowering People, Strengthening Communities We invest in people and communities, creating opportunities for better health, education and a brighter future. Provided tri-scooter to specially abled Health & Sanitation Program Tree Distribution Program person Hepa-B Vaccination Program Green Sund
Slide 19: Global Design Strength | End to End Innovation
Global Design Strength | End to End Innovation Commercial & In-Country Design, CAD & Tech Teams Design Offices India Bangladesh Vietnam Indonesia Our Global Design Hub 100+ 10 Designers Global Locations USA End-to-End Co-Creation Model Leveraging design & category expertise from European hubs and pr
Slide 20: Product Category
Product Category Our product range covers every major apparel category Expansion of Product Portfolio (Higher realisation) Blazer Dress Pant 20
Slide 21: Digital Transformation Using AI Tools
CONCEPT FROM TREND DECK 2D SKETCH Digital Transformation Using AI Tools 3D RENDERING AI GENERATED MODEL ACTUAL SAMPLE DEVELOPED 21
Slide 22: Digital Transformation Using AI Tools: CLO Render
CLO RENDER(ultra realistic rendering) Digital Transformation Using AI Tools MODEL RENDERING UISNG X-DESIGN VIEDO RENDERED USING FLOW (GOOGLE) 22
Slide 23: Diversification That Builds Resilience
Diversification That Builds Resilience Enabling survivorship, adaptability and sustainable growth through periods of global turbulence 23
Slide 24: Diversified Presence | Stronger Resilience | Sustainable Growth
Diversified Presence | Stronger Resilience | Sustainable Growth Diversified Manufacturing Global Footprint Why diversification drives our edge? De-risked Geographic Exposure 01 Lower dependence on any single market; balanced revenue mix across regions Access to Global Growth Markets 02 Presence in h
Slide 25: Global Apparel Supply Chain: Years of Disruption and Unrest
Global Apparel Supply Chain: 3 Years of Disruption and Unrest 2024 2025 2026 Bangladesh Unrest US Tariff Shock Middle East Crisis Factory Disruption Tariff Volatility Hormuz Disruption Impact 6 Days 26% → 50%* → 25% → 10% India’s Peak Removal of New of factory disruption due to tariff disadvantage p
Slide 26: Bangladesh Disruption Didn't Deter Us - We Emerged Stronger
Bangladesh Disruption Didn’t Deter Us - We Emerged Stronger 2024 PGIL’s Resilience in Bangladesh Competitive Advantage of Bangladesh Stronger Foundations. Greater Confidence. All-Time High Performance. 01 Lower labor cost High efficiency & Bangladesh Unrest 02 productivity Skilled workforce & 03 exp
Slide 27: Tariff Shock Tested Us - Diversification Won
Tariff Shock Tested Us - Diversification Won 2025 Tariff Impact Compressed Margins – But Our Why Geographic Diversification Diversification Protected Performance Worked For Pearl Global Reported EBITDA Margin Margin Excluding Reduced Country Risk (Including Tariff Impact) Tariff Impact Balanced glob
Slide 28: Middle East Crisis Tested Supply Chain - Resilience Kept Us Ahead
Middle East Crisis Tested Supply Chain - Resilience Kept Us Ahead 2026 Pearl Global: Built to Withstand. Positioned to Deliver. Middle East Crisis Expanding Focus On Resilient Cost Impact Global Reach Quality & Agility Supply Chain Contained ~20% of global crude & LNG Stronger presence across Reliab
Slide 29: Where We Said We'd Be vs. Where We Are
Where We Said We'd Be vs. Where We Are 29
Slide 30: Pearl Global: Performance Evolution Over Three Years
Pearl Global: Performance Evolution Over Three Years Parameters FY23 FY26 CAGR (Rs. Cr) Revenue 3,158 5,025 17% EBITDA 258 468 22% 17% 22% 21% Revenue Growth EBITDA Growth PAT Growth PAT 153 270 21% ROCE 24% 28% +360 bps Total Annual Capacity (Mn Pc) 80 101 8% +360 bps 8% 15% Total Pieces ROCE Total
Slide 31: Feb'24 Commitment Recap
Feb’24 Commitment Recap In Rs. Crore Revenue Adj. EBITDA* 14% CAGR 5.2% 8.2% 10.0% - 12.0% 6,000 18% - 23% 580 - 730 CAGR 2,714 3,158 258 141 FY22 FY23 FY28E FY22 FY23 FY28E No of pieces shipped (in Mn) ROCE (%) To remain healthy at 20%+ 12% - 14% CAGR 90 - 100 24% 20% - 22% 53 51 12% FY22 FY23 FY28
Slide 32: Ahead of the plan
Ahead of the plan In Rs. Crore Revenue 17% CAGR • 17% CAGR achieved from FY23 - FY26 6,000 4,506 5,025 • Q1FY27 momentum remains strong 3,158 3,436 • Rs. 6,000 crore FY28 target expected 1,528 well ahead of plan FY23 FY24 FY25 FY26 Q1FY27 FY28E Adj. EBITDA* • 22% EBITDA CAGR achieved from 8.2% 9.2%
Slide 33: On track to achieve
On track to achieve In Mn pieces Annual Capacity 8% CAGR 120 - 140 93 101 80 84 FY23 FY24 FY25 FY26 FY28E No of pieces shipped 15% CAGR 90 -100 74 78 51 57 21 FY23 FY24 FY25 FY26 Q1FY27 FY28E 33
Slide 34: Actually Delivered
Actually Delivered Working Capital Days ROCE (%)* To maintain steady state at 38-42 days To remain healthy at 20%+ 43 31% 38 38 38 - 42 28% 28% 24% 20% - 22% 30 Mar’23 Mar’24 Mar’25 Mar’26 Mar’28E Mar’23 Mar’24 Mar’25 Mar’26 Mar’28E Consistent Dividend Payout Declaring at least 20% dividend every ye
Slide 35: Snapshot of Target vs. Actual Delivery
Snapshot of Target vs. Actual Delivery Target given in FY23 - 24 for FY28 & Progress Update Metric Target given in Feb’24 Actual as of FY26 / Q1 FY27 Status for FY28 FY26 Rs. 5,025 crore (+17% CAGR) Revenue 15 - 20% CAGR to Rs. 6,000 crore+ Ahead of plan → Q1 FY27 Rs. 1,528 crore FY26 9.3% (Rs. 468
Slide 36: Delivering Our Commitment
Delivering Our Commitment Target given in FY21 for FY23 Metric Target given in FY21 For FY23 Achieved In Feb’24 Doubled revenue from Rs. 1,491 crore in FY21 to 12 - 15% CAGR and cross the Rs. 3,000 crore Revenue Rs. 3,158 crore in FY23, surpassing our growth revenue mark guidance Improvement in EBIT
Slide 37: Risk Mitigation & Governance
Risk Mitigation & Governance 37
Slide 38: Risk Assessment and Mitigation Framework
Risk Assessment and Mitigation Framework Risk Title Impact Mitigation Strategy Trade Policy and Tariff Risk • Changes in U.S. tariffs could impact pricing • Leverages its multi-country manufacturing footprint across India, Bangladesh, competitiveness and margins Vietnam and Indonesia to optimise dut
Slide 39: Driving Long-Term Stakeholder Value
Driving Long-Term Stakeholder Value Healthy Financial Metrics • Improvement in Networth 01 • Highest ever cash balance • Lowest Net Debt to EBITDA Working Capital Capital Allocation Optimization • Sustain ROCE in the range of 05 02 • Healthy OCF/EBITDA conversion 22% - 25% • Asset Light model MAXIMI
Slide 40: Capital Allocation: Funding Growth, Creating Value
Capital Allocation: Funding Growth, Creating Value A simple, consistent capital-allocation philosophy: fund growth first, then return surplus cash to shareholders – so you own a compounding business that also pays. Our Order Of Priorities 01 02 03 04 Reinvest in Return surplus to Maintain balance- I
Slide 41: Improving Credit Rating
Improving Credit Rating [ICRA] BBB (Stable) [ICRA] A-(Stable) [ICRA] A (Stable) [ICRA] A3+ [ICRA] A2+ [ICRA] A1 2021 2022 2023 2024 2025 2026 [ICRA] BBB+ (Stable) [ICRA] A (Stable) [ICRA] A+ (Stable) [ICRA] A2 [ICRA] A1 [ICRA] A1+ Long-term rating Short-term rating Reasons for Upgrade • Strong opera
Slide 42: Guided by Stakeholders
Guided by Stakeholders Our Stakeholders Key Highlights 01 02 39%* Public Shareholding Employees Clients 50% Career Opportunities Safe, certified product Independent Directors Health and Safety Traceable materials Learning and Development Consistent quality 16.7% Women Board Members 03 04 Professiona
Slide 43: Way Forward
PEARL GLOBAL Way Forward
Slide 44: Capacities
Capacities Capacity Annual Capacity as on Location No of Units Utilization % Capacity & Capacity Utilisation FY26 (Blended) FY26 In-House Partnership 77% 80% India 8 - 62.0% 25.9 mn pieces p.a. 170 - 175 Bangladesh 4 5 85.0% 59.7 mn pieces p.a. 101 128 - 131 Vietnam 1 4 80.0% 7.1 mn pieces p.a. 76 I
Slide 45: Forecasted Growth Capex Till FY30
Forecasted Growth Capex Till FY30 1 Growth from 2 Growth from Capacity Expansion Backward Integration Scale up to capture higher Total Capex till FY30 demand, add new product Strengthen control, improve margins & drive efficiency category and drive growth = + Rs. 675 crore - Rs. 725 crore Rs. 325 cr
Slide 46: Robust Growing Customer Relationship
Robust Growing Customer Relationship Revenue Contribution (%) from customers by FY30E Revenue from customers added in last 5 years 48% Top 6 Next 15 Customer Focus High Growth Customers 35% – 40% 50% – 55% 25% Other Customers 5% – 10% FY23 FY26 Built on Strong Partnerships 01 02 03 04 05 06 07 08 Op
Slide 47: Growth Potential - Geography Mix
Growth Protentional - Geography Mix In Rs. Crore Geographical Revenue (Export) Split Aspirational Target by FY30E 9,000 - 10,000 5,025 4,506 2,200 - 2,500 1,081 1,196 3,436 3,158 954 1,104 3,944 6,800 - 7,500 3,310 1,528 2,482 340 2,055 1,189 FY23 FY24 FY25 FY26 Q1FY27 FY30E Rest Of The World India
Slide 48: FY30 Vision: Scaling Revenue, Margins and Capacity
FY30 Vision: Scaling Revenue, Margins and Capacity In Rs. Crore Revenue Management Commentary On Revenue Growth On Margins 9,000 - 10,000 16-18% CAGR We expect revenue growth from – • Margin expansion will be driven by - 5,025 o Scaling capacity expansion • Strengthen relationships with existing cus
Slide 49: Summary
Summary 01 02 03 FY23 targets substantially The multi-geography, multi-product Balance sheet, governance, and delivered early – model was tested by the credit profile materially revenue, capacity and margin all geopolitical situations - strengthened, while maintaining the ahead of the plan and it wo
Slide 50: Thank You !
Thank You ! Thank You ! Company: Pearl Global Industries Limited CIN: L74899HR1989PLC036849 Mr. Sanjay Gandhi - Group CFO sanjay.gandhi@pearlglobal.com Mr. Shishir Gahoi – Head - Investor Relations shishir.gahoi@pearlglobal.com +91 99854 50022 www.pearlglobal.com Investor Relations: Strategic Growth
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