Pearl Global Industries Limited
7,118words
10turns
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0executives
Key numbers — 40 extracted
Rs. 12.50
Rs. 10
125%
180 Bps
Rs. 1,854.8
rs,
8%
Rs. 960.6
12%
8.8%
180 bps
8.3%
Risks & concerns — 2 flagged
Overall neutral from group revenue perspective Reduced demand from few customers owing to weak demand environment.
— Finance Cost
In discussions to add 2-3 strategic customer in India H1FY24 Gross margin improvement by 760 bps: • • Lower gross margin business got shifted to other regions resulting in improved product mix resulting in higher gross margin In absolute terms decline is gross profit is linked to reduction in revenue 16 Standalone Balance Sheet In Rs.
— Finance Cost
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Speaking time
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Opening remarks
The Rating upgrade factors in
Type of Credit Rating Existing Revised Long -Term Rating [ICRA]BBB+ (Stable) (pronounced ICRA triple B plus) [ICRA]A- (Stable) (pronounced ICRA A minus) Short - Term Rating [ICRA]A2 (pronounced ICRA A two) [ICRA]A2+ (pronounced ICRA A two plus) ▪ ▪ ▪ Consistent healthy performance of Pearl Global over the last two years despite the evolving demand slowdown in its key market, the US, amid inflationary pressure which is affecting discretionary spending by the consumers The impact of demand slowdown has also been partially offset for Indian exporters because of business re-route from China and the China-plus- one policy proposed to be followed by the large buyers Pearl Global’s geographically diversified manufacturing base across leading apparel-exporting regions of India, Bangladesh, Vietnam and Indonesia place it more favorably than its peers to benefit from the said potential shift 12 Consolidated Profit and Loss Statement Profit and Loss (in Rs. Crs) Revenue from Operations Cost of Go
Finance Cost
▪ Higher on account of increase in factoring cost for receivable financing 13 Consolidated Balance Sheet In Rs. Crs. Assets Non Current assets Property, Plant and Equipment Capital work-in-progress Investment Property Other Intangible Asset Right of use assets Goodwill Financial Assets Investments Loans Other financial assets Deferred Tax Assets Non Current Tax Assets Other non-current assets Total Non Current Assets Current Assets Inventories Financial Assets Investments Trade receivables Cash and cash equivalents Other bank balances Loans Other financial assets Other current assets Total Current Assets Total Assets Sep-23 Mar-23 341.1 37.5 56.8 2.3 147.9 21.8 45.3 0.0 8.0 1.3 11.4 8.2 681.7 301.2 48.5 272.7 293.3 48.2 16.8 17.8 92.2 1,090.7 1,772.4 288.2 33.1 57.4 1.6 133.9 19.2 54.2 0.3 8.1 1.4 20.5 1.6 619.5 513.3 5.6 209.4 256.1 38.3 25.4 8.2 104.9 1,161.2 1,780.6 Liabilities Equity Equity Share capital Other Equity Non Controlling Interest Total Equity Financial liabilities Borro
Incorporation
Founded in 1987, Pearl Global is a leading apparel manufacturer offering end-to-end sustainable solutions to the fashion industry
Manufacturing Capability
Well-diversified and de-risked manufacturing base with 22 manufacturing units spread across 8 countries Total capacity to manufacture around 82 million units per year Everything from Fibre to Fashion
Robust Design Team
Our efficient team of 75 Designers across 4 Countries leads the journey from a concept to the finished product
Marquee Clientele
Kohl’s, Macy’s, Tommy Hilfiger, Gap, Old Navy, NEXT, Nordstrom among others What We Do C Customized Solutions: The biggest pillar for our operations is providing customized solutions as per your need Strong Analytics: Facts driven analytics help us drive insights and conclusion for projects Infrastructure: State-of-the art renewable technology has been installed in all factories for faster work Planning and Execution: Customized solutions are carefully prepared with the help of in-house experts, R&D
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