Multibagger Stock Sets Record Date For Stock Split After 223% YTD Gain

At Friday's closing session, Pearl Global Industries' market capitalization, a small cap in the consumer discretionary sector, was Rs 2,884.12 Cr. India is home to Pearl Global Industries Limited, a manufacturer of apparel. Pearl Global Industries' shares closed Friday at the 5% upper circuit limit at Rs 1324.45 a share, following the company's announcement of a record date for a stock split.

The company has fixed 05th January 2024 (Friday) as the record date for the sub-division of face value of equity shares from Rs.10/- to Rs.5/-each fully paid.

In the September 2023 quarter, the firm had net sales of Rs. 218.50 crore, a 27.29% decrease from the September 2022 quarter's Rs. 300.52 crore. In Q2FY24, the net profit was Rs. 1.20 crore, a 78.63% decrease from Rs. 5.60 crore in Q2FY23.

In comparison to the Rs. 19.95 crore recorded in the same quarter of the previous fiscal year, its EBITDA dropped by 28.02% to Rs. 14.36 crore. According to the firm's FY23 annual report, the company intends to boost its sales at a compound annual growth rate (CAGR) of 15% to 20% over the next three to four years and strives to maintain a margin of 7% to 8% in the near term for the current financial year.

Dalal Street has been seeing an extraordinary performance from Pearl Global Industries shares, as the scrip has surged by more than 200% in 2023. The stock price has risen from Rs 137.10 to the current market price during the past five years, resulting in a multibagger return of 861.38%.

The stock price climbed from Rs 192.10 to the current market price during the past three years, resulting in a 600% multibagger return. YTD, the scrip went up from Rs 407.95 each to the current market price, logging a multibagger return of 223.09% so far in 2023. In the past year, the stock price has risen from Rs 380.25 to the current market price, putting in a multibagger return of 246.63%.

One of the largest publicly traded apparel exporters in India, Pearl Global Industries Limited (PGIL), recently won two prestigious awards at the Apparel Export Promo on Council (AEPC) Excellence Honours 2022-23. Furthermore, the company has received an award for "Highest Exports in Woven Garments 2021-22 & 2022-23".

Mr. Pulkit Seth, Vice-Chairman & Non-Executive Director said, "We are pleased to be recognized by AEPC with these accolades. This achievement serves as concrete evidence of our strong and enduring competitive edge in the global market. We remain committed to maintaining our position as one of India's largest listed garment exporters by actively pursuing our vision and reaching new milestones."

Having been founded in 1989, Pearl Global Industries Limited (PGIL) is among the largest listed garment exporters in India, with production originating from many South Asian and Indian sourcing locations. The firm is a prominent participant in the textile industry and is a favoured long-term provider for several top worldwide brands. With 22 production facilities located throughout Bangladesh, Vietnam, India, and Indonesia, the company has a well-diversified manufacturing backbone. With both in-house and outsourced facilities, PGIL can produce about 75 million units annually.