GOKEX
Gokaldas Exports share price & financials
- Price
- ₹818.7
- Market cap
- ₹5.8k Cr
- Sector
- Textiles
- Calls analysed
- 7
Gokaldas Exports Limited Q1 FY27
What went well
- Consolidated income grew 21% year-on-year.
- Consolidated EBITDA rose 17% year-on-year, with India operations up 14%.
- India business grew 16% year-on-year, despite overall Indian apparel exports declining 12% in the same period.
What to watch
- Wages rose across India and Kenya, and higher oil prices increased shipping and trims costs.
- Container availability constraints and shipping delays continued to disrupt material flow and production.
What Gokaldas Exports Limited does
Gokaldas Exports, founded in 1979, is a vertically integrated apparel manufacturer that designs, cuts, sews, prints, washes and finishes garments for leading global fashion brands and retailers across women's fashion, outerwear, bottomwear, sportswear and healthcare categories. It earns by manufacturing and exporting finished garments on a contract basis for international clients, with North America historically its largest end-market. Through the acquisitions of Atraco (Kenya and Ethiopia) and Matrix Design (high-value knitwear), the company has expanded its manufacturing footprint beyond India and broadened its product mix and customer base in Europe and the UK.
Segments
- Fashionwear
- Outerwear
- Bottomwear
- Sportswear
- Healthcare
- Manufacturing facilities
- 30+
- Employee strength
- 51,000+, predominantly women (~75%)
- Annual production capacity
- 87 million garments
- Machines across manufacturing facilities
- 30,000+
- Manufacturing geographic footprint
- India, Kenya and Ethiopia
- Countries with brand/customer presence
- 50+
Guidance record · Q1 FY27
what the last two calls moved 22 tracked 2 delivered 1 missed 19 open- BTPL Total Acquisition Cost delivered said Q3 FY25 Promised: INR 588 crores to acquire 100% of the asset. Q1 FY27: Promise previously achieved. No new updates.
- Consolidated Revenue Growth missed said Q4 FY25 Promised: Targeting at about 15%, and we will continue on that trajectory. Q1 FY27: Promise previously missed. No new updates.
- Atraco / Africa EBITDA Margin delayed said Q3 FY25 Promised: Atraco, if I get about 10% EBITDA margin in the next year (FY26), I will be happy. Q1 FY27: Timeline for double-digit margin recovery pushed from H2 FY27 to 'Q4 or early next Q1' (Q4 FY27 / Q1 FY28).
All 22 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 17.9%, net profit up 43.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 632 | 625 | 655 | 638 | 688 +9% | 672 +8% | 695 +6% | 752 +18% |
| EBITDA | 59 | 65 | 69 | 62 | 66 +12% | 56 −14% | 96 +39% | 92 +48% |
| Net profit | 53 | 49 | 53 | 48 | 53 +0% | 39 −20% | 63 +19% | 69 +44% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +1.1% 1Y
1Y: ₹776.85 on 10 Sept 2025 → ₹785.5. High ₹949.35 (20 Nov 2025), low ₹541.95 (29 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- −3.4%
- 12 Aug
- Q4 FY26
- +2.5%
- 25 May
- Q3 FY26
- −5.1%
- 2 Feb
- Q2 FY26
- +4.7%
- 12 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 6.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 10.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.2k Cr | ₹2.1k Cr | ₹2.5k Cr | ₹2.7k Cr |
| Operating profit | ₹270 Cr | ₹255 Cr | ₹245 Cr | ₹280 Cr |
| Operating margin | 12.2% | 11.9% | 9.9% | 10.4% |
| Interest | ₹25 Cr | ₹23 Cr | ₹20 Cr | ₹36 Cr |
| Depreciation | ₹72 Cr | ₹78 Cr | ₹77 Cr | ₹99 Cr |
| Net profit | ₹173 Cr | ₹164 Cr | ₹191 Cr | ₹203 Cr |
| Net margin | 7.8% | 7.7% | 7.7% | 7.5% |
| Cash from operations | ₹368 Cr | ₹130 Cr | ₹78 Cr | ₹39 Cr |
| Free cash flow | ₹335 Cr | ₹79 Cr | ₹15 Cr | ₹-66 Cr |
| ROCE | 22.0% | 15.0% | 12.0% | 12.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹21 Cr | ₹29 Cr | ₹30 Cr | ₹32 Cr | ₹37 Cr | ₹37 Cr |
| Reserves | ₹270 Cr | ₹680 Cr | ₹863 Cr | ₹1.3k Cr | ₹2.1k Cr | ₹2.3k Cr |
| Borrowings | ₹476 Cr | ₹191 Cr | ₹141 Cr | ₹254 Cr | ₹993 Cr | ₹479 Cr |
| Other liabilities | ₹237 Cr | ₹325 Cr | ₹309 Cr | ₹359 Cr | ₹750 Cr | ₹672 Cr |
| Total liabilities | ₹1.0k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹2.0k Cr | ₹3.9k Cr | ₹3.5k Cr |
| Fixed assets | ₹235 Cr | ₹282 Cr | ₹261 Cr | ₹254 Cr | ₹1.5k Cr | ₹385 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹67 Cr | ₹49 Cr |
| Investments | ₹57 Cr | ₹174 Cr | ₹365 Cr | ₹504 Cr | ₹620 Cr | ₹936 Cr |
| Other assets | ₹713 Cr | ₹770 Cr | ₹717 Cr | ₹1.2k Cr | ₹1.7k Cr | ₹2.1k Cr |
| Total assets | ₹1.0k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹2.0k Cr | ₹3.9k Cr | ₹3.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −10.42 pp while DIIs added +6.24 pp. The shareholder count grew 31% to 80,401.
- Promoters
- 9.2%
- FIIs
- 14.5%
- DIIs
- 43.4%
- Public
- 33.0%
Since Jun 2025
- FIIs −10.42 pp
- DIIs +6.24 pp
- Public +4.20 pp
How it drifted, 12 quarters
Over this window DIIs went from 32.7% to 43.4% — +10.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 11.1%, FIIs 17.0%, DIIs 32.7%, Public 39.3%.Dec '23: Promoters 11.1%, FIIs 20.5%, DIIs 31.6%, Public 36.9%.Mar '24: Promoters 10.6%, FIIs 21.2%, DIIs 30.0%, Public 38.2%.Jun '24: Promoters 9.4%, FIIs 26.6%, DIIs 31.8%, Public 32.3%.Sep '24: Promoters 9.4%, FIIs 27.0%, DIIs 33.8%, Public 29.8%.Dec '24: Promoters 9.4%, FIIs 26.5%, DIIs 37.0%, Public 27.1%.Mar '25: Promoters 9.4%, FIIs 25.8%, DIIs 36.8%, Public 28.0%.Jun '25: Promoters 9.2%, FIIs 24.9%, DIIs 37.2%, Public 28.8%.Sep '25: Promoters 9.2%, FIIs 22.9%, DIIs 38.9%, Public 29.0%.Dec '25: Promoters 9.2%, FIIs 23.7%, DIIs 39.0%, Public 28.1%.Mar '26: Promoters 9.2%, FIIs 19.9%, DIIs 37.6%, Public 33.4%.Jun '26: Promoters 9.2%, FIIs 14.5%, DIIs 43.4%, Public 33.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Mnc Fund Mutual fund newly disclosed 5.77% held
- SBI Life Insurance Co. Ltd Insurer +2.65 pp 5.08% held
- Tata Dividend Yield Fund Mutual fund newly disclosed 2.17% held
- Mahindra Manulife Value Fund Mutual fund newly disclosed 2.09% held
- Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund +1.05 pp 4.11% held
- Motilal Oswal BSE 1000 Index Fund Mutual fund +0.44 pp 2.20% held
- Helios Small Cap Fund Mutual fund +0.33 pp 2.25% held
- Union Flexi Cap Fund Mutual fund +0.20 pp 1.28% held
The same filing shows 2 holders trimming and 4 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Gokaldas Exports Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Clear Wealth Consultancy Services Llp | 8.81% | unchanged |
| Nippon Life India Trustee Ltd-A/C Nippon India Mul Mutual fund | 7.42% | unchanged |
| SBI Mnc Fund Mutual fund | 5.77% | newly disclosed |
| SBI Life Insurance Co. Ltd Insurer | 5.08% | +2.65 pp |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund | 4.11% | +1.05 pp |
| HSBC Mutual Fund - HSBC Small Cap Fund Mutual fund | 3.56% | unchanged |
| Aditya Birla Sun Life Trustee Private Limited A/C Mutual fund | 2.74% | −0.09 pp |
| Goldman Sachs Funds - Goldman Sachs India Equity P Global fund house | 2.56% | −2.16 pp |
| Helios Small Cap Fund Mutual fund | 2.25% | +0.33 pp |
| Motilal Oswal BSE 1000 Index Fund Mutual fund | 2.20% | +0.44 pp |
| Tata Dividend Yield Fund Mutual fund | 2.17% | newly disclosed |
| Mahindra Manulife Value Fund Mutual fund | 2.09% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GOKEX
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹749 Cr
- 5 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹421 Cr · 0.5% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹421 Cr | held | Oct '21 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹170 Cr | held | Jul '24 |
| SBI MNC Fund SBI Mutual Fund | ₹109 Cr | held | Jul '24 |
| SBI Comma Fund SBI Mutual Fund | ₹46 Cr | held | Apr '26 |
| Nippon India MNC Fund Nippon India Mutual Fund | ₹3 Cr | held | Jul '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +39%
- vs est. average cost
- Held by funds
- ₹749 Cr
- 5 schemes · ≈ 13% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹421 Cr · 0.5% of that fund
Shares held by these funds +13%
Aug '23 95.98 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Gokaldas Exports Limited
Guides on how to read this kind of business and the numbers that matter.