PGIL
Pearl Global Industries Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
PGIL
FY26 → FY28 · 2 years of guidance · ~1.7 years from today₹2,065 today
BEAR
₹774
-62%-45% a yr
37.2% a year · 6.8x exit
BASE
₹2,376
+15%+9% a yr
64.3% a year · 14.6x exit
BULL
₹5,113
+148%+73% a yr
87.4% a year · 24.2x exit
Where the market has priced it
6x34x today — outside the range24x
- the last 3 years priced this company 65% above its ten-year median (24x vs 15x) — the exit multiple here is the ten-year one, so a sustained re-rating would not be captured
- at 34x its FY26 earnings the stock already trades above the top of its own ten-year range (24x)
- this company's own median multiple sits 52% below its filed-industry peers; the scenario uses its own
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹60.17 (screener) |
|---|---|
| Guided growth | 64.3% a year, said on the call of 20-May-2026 · transcript |
| Read across as | operating: guided margin x own realised revenue CAGR — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 6.84x / 14.63x / 24.2x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 30.57x across 16 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)2 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
ebitda margin 10%margin 10%
So given that we have mentioned earlier in our earlier earnings calls as well that inherently, if you look at the business capability, once we exclude the reciprocal tariff and the initial ramp-up of setup cost in operations like Bihar, we
Call 20-May-2026 · bridge confidence medium · transcript PDF