Gokaldas Exports Q3 FY26 Results: Total Income Steady at ₹998 Crore

Gokaldas Exports announced its consolidated results for Q3 FY26, reporting total income of ₹998 crore, holding steady compared to ₹1,001 crore in Q3 FY25. 

Despite the first full quarter of US tariff impact, the company maintained resilience, aided by strong operations in India, which grew 8% YoY. 

The African business faced challenges from AGOA uncertainty and supply chain delays, though it improved sequentially and is expected to see growth in the upcoming periods.

EBITDA Performance and Margins

The company recorded an EBITDA of ₹96 crore in Q3 FY26, with margins at 9.7%, down from 11.7% YoY. The decline was mainly attributed to US tariff rebates. 

However, productivity gains, strong order books, and improved cost management helped absorb part of the negative impact. Sequentially, EBITDA increased by 15% compared to ₹84 crore in Q2 FY26.

Profitability Metrics

Gokaldas Exports reported a PBT of ₹26 crore in Q3 FY26, up 40% QoQ, but down 61% YoY due to tariff-related costs. Net profit (PAT) rose to ₹15 crore from ₹8 crore in the previous quarter, though it remained 71% lower than Q3 FY25. 

For the nine months ending December 2025, total income grew 3% YoY to ₹2,978 crore, while EBITDA improved 6% YoY to ₹299 crore.

Operational Highlights and Outlook

The Indian operations continue to show robust growth momentum, supported by strong order books and cost efficiencies. African operations, although impacted by supply chain and trade uncertainties, are expected to rebound sequentially, positioning the company for growth in the next quarters.

Commenting on the company’s Q3FY26 performance, Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, said, “Our India operation delivered a growth of 8% YoY, even after absorbing the first full impact of US tariffs in this quarter, whereas apparel export from India remained flat. With a possible renewal of AGOA on the cards, there is a stronger order book for Africa improving the outlook. The EBITDA margin was tempered by US tariff, but was offset by higher productivity gain and diligent cost management measures.”

Gokaldas Exports Share Price Performance

On February 2, 2026, Gokaldas Exports share price (NSE: GOKEX) opened at ₹609.25, the same as its previous close of ₹609.25. At 11:19 AM, the share price of Gokaldas Exports was trading at ₹572.20, down by 6.06% on the NSE.

Also Read: Union Budget 2026 Highlights: Your 5-Minute Guide to Fiscal, Tax and Sectoral Measures!

Conclusion

Gokaldas Exports has demonstrated resilience amid global trade headwinds, maintaining steady total income and improving operational efficiency. Focus on cost management and strong order pipelines is likely to support recovery and profitability in upcoming periods.

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