DBT Bureau
Pune, 23 May 2026
Gokaldas Exports reported a total income of ₹1,087 crore in Q4FY26, reflecting 5% YoY growth. The company’s India business recorded 2% YoY growth despite tariff-related challenges during the quarter, while India’s apparel exports industry declined by 10%.
Its Africa business posted a healthy 17% YoY growth, supported by the renewal of AGOA and a relatively favourable US tariff position compared to several other countries.
The company reported EBITDA of ₹135 crore with an EBITDA margin of 12.4% in Q4FY26. Margins saw a 131 bps impact, mainly due to US tariff rebates. However, productivity gains and improved cost management helped absorb much of the tariff-related pressure.
For FY26, total income stood at ₹4,065 crore, up 4% YoY. EBITDA for the year came in at ₹434 crore, with an EBITDA margin of 10.7%, down 15 bps YoY primarily due to the impact of US tariffs.
Quarterly performance (₹ crore)
| Parameters | Q4FY26 | Q3FY26 | Q4FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Total Income | 1,087 | 998 | 1,035 | 5% | 9% |
| EBITDA | 135 | 96 | 142 | -5% | 40% |
| EBITDA Margin | 12.4% | 9.7% | 13.7% | -131 bps | 275 bps |
| PBT | 70 | 26 | 79 | -12% | 168% |
| PAT | 36 | 15 | 53 | -32% | 146% |
Full-Year performance (₹ crore)
| Parameters | FY26 | FY25 | YoY |
|---|---|---|---|
| Total Income | 4,065 | 3,917 | 4% |
| EBITDA | 434 | 424 | 2% |
| EBITDA Margin | 10.7% | 10.8% | -15 bps |
| PBT | 172 | 218 | -21% |
| PAT | 100 | 159 | -37% |
Commenting on the company’s Q4FY26 and FY26 performance, Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, said:
“Disruptions arising from penal US tariffs and volatile geopolitical events impacted our costs and margins during the year. Exceptional teamwork, strong customer relationships, and relentless execution in the face of significant challenges helped us deliver a strong business performance.
We grew our revenue and largely maintained our EBITDA margin. We are confident that we have the leadership depth and business capability to address external shocks that may arise in the near term. Over the long term, we see macroeconomic trends favouring sourcing from India and other low-cost regions, and we believe we are well-positioned to leverage these trends to emerge as a strong global player.”
