Gokaldas Exports shares in focus on hopes of Budget 2026 announcements, Q3 results

Shares of Gokaldas Exports Ltd. will be in focus on Sunday, February 1, after the company reported a sharp decline in its December quarter performance.

Consolidated profit fell 72.43% year-on-year to ₹14.61 crore in Q3FY26, compared with ₹53 crore in the same quarter last year.

Revenue slipped 0.92% to ₹978.6 crore during the quarter, from ₹987.7 crore a year ago. EBITDA declined 25.92% year-on-year to ₹76.9 crore, while the EBITDA margin narrowed to 7.86% from 10.51% in Q3FY25.

Impact of US tariffs

Management said growth was muted as expected, with margins coming under pressure due to the tariff impact.

India operations, however, delivered 8% year-on-year growth, even as apparel exports from India remained flat. The company cited a stronger order book from Africa, which is improving the overall outlook.

Speaking to CNBC-TV18 ahead of the earnings, Gokaldas Exports management referred to the potential impact of the India-EU FTA, citing that exports to the EU currently account for around 16-17% of total revenue.

The signing of the FTA is seen as a positive development for the Indian textile and apparel sector.

Management said capex plans for the EU will be stepped up once the deal fructifies in 2027, with exports to the region expected to rise to 19-20% of revenue within a year.

The management also reiterated that the US and EU remain key markets for Indian textile exporters. While there is no impact on the order book so far, the company is facing headwinds on EBITDA margins. Overall margins are expected to remain in the high single-digit range.

Gokaldas Exports shares ended 2.23% higher on Friday at ₹554.05. The stock has tumbled over 24% so far in 2026.