The shares of one of the leading multinational apparel manufacturers hit a 5 percent upper circuit after the company board fixed the record date for a stock split.
On Friday’s trade, Pearl Global Industries Ltd shares hit a 5 percent upper circuit to Rs 1,323.95 per share. The company has a market capitalization of Rs 2,884 crore.
According to the company’s exchange filing, the Company Board set January 5th,2024 as the record date for the Subdivision of the face value of Equity shares from Rs.10 to Rs.5 per fully Paid, i.e. a 1:2 ratio.
The company shares have delivered a return of 150 percent in the last six months and 230 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.50 lakhs in the last six months and 3.30 lakhs in a year.
The company’s revenue has jumped by 12 percent yearly, from Rs 860 crore in FY Q2FY23 to Rs 961 crore in Q2FY24. In the same timeframe, Net profit has increased by 50 percent from Rs 26 crore to Rs 39 crore.
The Ace investor Mukul Agrawal holds 7,50,000 shares in the firm as of the September quarter of 2023, equivalent to 3.46 percent.
The company’s notable clientele includes premium retailers in the USA and Europe, including GAP, Banana Republic, Joe Fresh, Walmart, Zara, and Ralph Lauren, among others.
The company has 22 manufacturing units distributed across 8 countries, with a total capacity of around 82 million units per year.
The company generated 25 percent of its income from the rest of the globe and 75 percent of its revenue from the Indian market.
Pearl Global Industries Limited (PGIL) is a garment exporter and company is engaged in manufacturing from multiple sourcing regions within India and countries within South Asia. The product range includes knits, woven, and bottoms across men’s, women’s, and kids’ wear segments.
Written by Omkar Chitnis
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