Gokaldas Exports reported a 31.97 per cent fall in consolidated net profit to Rs 35.96 crore in the March quarter due to US tariffs and geopolitical volatility. However, the apparel manufacturer recorded revenue growth and maintained stable EBITDA margins during the period
Published Date – 23 May 2026, 07:09 PM
Mumbai: Apparel manufacturer Gokaldas Exports has reported a 31.97 per cent year-on-year decline in consolidated net profit to Rs 35.96 crore during the quarter ended March 31 due to disruptions following US tariffs and geopolitical volatility.
The company’s net profit stood at Rs 52.86 crore during the corresponding period of the previous year, Gokaldas Exports said in a regulatory filing.
Revenue from operations grew by 5.27 per cent during the quarter under review to Rs 1,068.84 crore, compared with Rs 1,015.33 crore in the same period of the previous fiscal year.
“Disruption due to 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 strong adversities helped us deliver a superior business performance. We grew our revenue and more or less maintained our EBITDA margin,” Gokaldas Exports Vice Chairman and Managing Director Sivaramakrishnan Ganapathi said.
He said the company is confident of its leadership depth and business capability to address external shocks that may come its way in the near term.
“In the long term, we see the macroeconomic trends favour sourcing from India and other low-cost regions, and are hopeful that we are poised to leverage these trends to emerge as a strong global entity,” he added.
The company’s total income from India grew by 2 per cent YoY despite tariff challenges in the fourth quarter of FY26, while the Indian apparel industry’s exports declined by 10 per cent.
“Our Africa business experienced healthy growth of 17 per cent YoY, as the African Growth and Opportunity Act (AGOA) was renewed and the region had a better US tariff position vis-a-vis other countries,” it added.
