Gokaldas Exports Posts 7 Per Cent Q2 Growth Despite Headwinds

13 Nov 2025 CW Team

Gokaldas Exports reported consolidated total income of Rs 10.03 billion in Q2 FY26, marking a 7 per cent year-on-year increase despite continued pressure from US tariff sharing and uncertainty around the African Growth and Opportunity Act (AGOA). India operations delivered a robust 14 per cent rise in revenue even as national apparel exports declined by 2 per cent, while Africa operations saw a 23 per cent drop due to delayed order placements linked to AGOA rollover concerns.

The company posted EBITDA of Rs 840 million, maintaining flat year-on-year performance as prudent cost control and productivity gains helped offset external challenges.

Key Consolidated Highlights (Q2FY26)

Total income: Rs 10.03 billion, up 7 per cent YoY

EBITDA: Rs 840 million, flat YoY

EBITDA margin: 8.3 per cent vs 12.1 per cent in Q1FY26

PAT: Rs 80 million, down 71 per cent YoY

For H1 FY26, total income stood at Rs 19.80 billion, up 5 per cent, while EBITDA reached Rs 1.66 billion, representing a 15 per cent increase.

Commenting on the results, Mr Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, said:

“Our Q2 performance was modest, impacted by low volumes in Africa due to AGOA rollover uncertainty, while India operations remained strong. EBITDA margins remained flat year-on-year due to operating deleverage in Africa, US tariff impact, and start-up costs for new units. Despite these challenges, we see a strong order book building in both India and Africa, depending on the possible reinstatement of AGOA.”

Gokaldas Exports remains cautiously optimistic, backed by a healthy order pipeline and stabilising market conditions across key geographies.

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