Gokaldas Exports Q4 FY26 profit drops 32% on 5% sales rise

Key takeaway

Gokaldas Exports reported higher revenue but weaker profitability in the March 2026 quarter, and a sharper decline in net profit for the full year ended March 2026 despite modest sales growth.

Q4 FY26 results: profit falls, revenue rises

For the quarter ended March 2026, Gokaldas Exports reported net profit of ₹35.96 crore, down 31.97% from ₹52.86 crore in the quarter ended March 2025. Over the same period, sales increased 5.27% to ₹1,068.85 crore from ₹1,015.34 crore.

The combination of revenue growth and lower net profit indicates pressure on profitability during the quarter, even as the top line expanded. The disclosed figures point to a year-on-year comparison for the March quarter.

FY26 full-year performance: net profit down 37%

For the year ended March 2026, net profit declined 36.84% to ₹100.13 crore compared with ₹158.54 crore in the previous year ended March 2025. Sales for the full year rose 3.19% to ₹3,987.64 crore, up from ₹3,864.24 crore.

The full-year picture mirrors the quarterly pattern: revenue growth at a low single-digit pace, but a materially weaker bottom line versus the year-ago period.

Latest earnings update: May 22, 2026 and key metrics

The data shared also references a “Last Earnings Date” of 22 May 2026 (Q0 FY26-27). In that update, revenue is listed at ₹978 crore with QoQ change of -0.58% and YoY change of -0.92%.

Gross profit is shown at ₹30 crore, up 39.06% QoQ but down 58.32% YoY. Net profit is shown at ₹14 crore, up 80.82% QoQ and down 70.98% YoY. Separately, it is also stated that Gokaldas Exports Ltd. reported a net profit of ₹14.

Quarterly sales snapshots: September and December 2025

Additional quarterly sales figures provided show how revenue moved through FY26.

Gokaldas Export consolidated net sales for December 2025 are stated at ₹978.65 crore, down 0.92% year-on-year. For the same period, standalone net sales are stated at ₹671.68 crore, up 7.43% year-on-year.

For September 2025, consolidated net sales are stated at ₹984.35 crore, up 5.96% year-on-year. Standalone net sales for September 2025 are stated at ₹687.86 crore, up 8.78% year-on-year.

Margin indicators highlighted for Q1 FY26

The information set also includes margin references for Q1 FY26. The operating profit margin (PBT/Revenue from operations) is cited at around 5.94%, and the net profit margin (Net profit/Revenue from operations) at around 4.34%.

It is also stated that margins improved compared with Q1 FY25, where net profit margin is cited at around 2.92%, but were lower than Q4 FY25.

A separate Q1 FY26 performance line item notes consolidated revenue of ₹955.79 crore versus ₹932.13 crore in Q1 FY25. Net profit improved to ₹41.47 crore from ₹27.18 crore, and EPS (basic) is stated at ₹5.73. Standalone net profit is stated at ₹47.97 crore.

Operations update in Q2 FY26: India growth, Africa decline

In Q2 FY26, the company is stated to have registered total income of ₹1,003 crore, representing 7% year-on-year growth.

The update adds that India operations grew 14% year-on-year against the backdrop of a 2% degrowth in Indian apparel exports during the same period. Africa operations declined 23% year-on-year, attributed to lower volumes due to delayed order placements amid uncertainty around AGOA rollover.

The company reported EBITDA of ₹84 crore in Q2 FY26 with flat year-on-year growth, after sharing a considerable portion of the US tariff burden with key customers.

Table: headline financials and reported snapshots

Background: FY24 results and capital actions

The dataset also includes older consolidated financial results for the quarter ended March 31, 2024 (Q4 FY24). For that quarter, the company reported consolidated revenue of ₹818.0 crore compared with ₹530.1 crore in Q4 FY23, and consolidated profit after tax (PAT) of ₹44.3 crore compared with ₹47.2 crore in Q4 FY23.

In the same FY24 disclosure, total income for FY24 is stated at ₹2,409.0 crore versus ₹2,247.2 crore in FY23. EBITDA for FY24 is stated at ₹284.1 crore versus ₹295.8 crore in FY23, and PAT for FY24 is stated at ₹131.0 crore versus ₹173.0 crore in FY23.

The note also states that after acquisition of two companies through a combination of debt and equity, Gokaldas Exports had net debt of ₹336 crore as of March 31, 2024. It subsequently raised equity capital of ₹600 crore through a QIP in April 2024, which is stated to have helped the company turn net cash positive.

Market datapoint mentioned in the feed

The shared text includes a price datapoint of ₹580 with a move of -1.65% and the date “30 Mar”. It also lists “Gokaldas Exports 580.20” in a separate line.

Why these results matter

The March 2026 quarter shows revenue growth but a significant fall in net profit, and the full-year numbers show a similar divergence between sales and earnings. When revenue grows but profit falls, it typically draws investor attention to cost, pricing, and mix, as well as any one-off or operational headwinds referenced in quarterly updates.

The Q2 FY26 operational note provides context on how region-wise performance and external factors can influence outcomes. It specifically flags weaker Africa operations tied to delayed orders and AGOA-related uncertainty, and also points to the company sharing part of the US tariff burden with customers, alongside a flat year-on-year EBITDA figure for that quarter.

What to watch next

The dataset points to an earnings update dated 22 May 2026 and also provides multiple quarterly snapshots through FY26. Investors will likely track subsequent quarterly filings for how margins evolve relative to the levels cited for Q1 FY26, and how consolidated sales trends compare with the Sep 2025 and Dec 2025 consolidated net sales figures reported.

Any future updates on regional volume recovery, order timing, and the factors cited around AGOA rollover uncertainty and tariff-sharing will remain key reference points in interpreting quarterly performance.