Gokaldas Reports Steady Q3, Margins Impacted By Tariffs
Gokaldas Exports reported consolidated total income of Rs 998 crore in Q3FY26, remaining broadly steady year-on-year despite facing the first full-quarter impact of US tariffs on apparel exports.
The company’s India operations continued to grow 8% year-on-year, demonstrating resilience even as overall apparel exports from India remained largely flat during the period.
EBITDA for the quarter stood at Rs 96 crore, with margins at 9.7%, lower compared with the same quarter last year, primarily due to the effect of tariff rebates. However, productivity gains, a strong order book, and tighter cost management helped offset part of the pressure on profitability.
Profitability remained under pressure on a year-on-year basis, with profit before tax at Rs 26 crore and profit after tax at Rs 15 crore in Q3FY26.
For the nine months ended FY26, the company reported total income of Rs 2,978 crore, up 3% year-on-year, and EBITDA of Rs 299 crore, reflecting 6% growth over the corresponding period last year.
Commenting on the results, Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, said the company’s India business maintained growth momentum despite absorbing the full impact of US tariffs during the quarter. He added that the outlook for the African business is improving sequentially, supported by a stronger order book and the possibility of renewal of the African Growth and Opportunity Act (AGOA).
The company noted that supply chain delays and uncertainty around AGOA had affected its Africa operations during the quarter, though performance improved sequentially and is expected to strengthen in the coming periods.
