Mumbai, May 22: Apparel manufacturer and exporter Gokaldas Exports Limited on Thursday reported a strong performance in the fourth quarter (Q4) of FY25, with its consolidated net profit soared over 19.3 per cent year-on-year (YoY) to Rs 52.86 crore, compared to Rs 44.28 crore in Q4 FY24.

The company’s profit before tax (PBT) also surged by 84 per cent YoY to Rs 79 crore in the last quarter of the FY25.

However, the quarter also saw a notable rise in total expenses, which increased by 23.32 per cent (on-year) to Rs 955.8 crore in Q4 FY25 from Rs 775.03 crore in Q4 FY24.

Despite this, the company’s revenue from operations rose by nearly 25 per cent to Rs 1,015.33 crore — helping it maintain the strong overall financial health.

The company’s total income for the quarter rose by 27 per cent to Rs 1,035 crore, driven by productivity improvements and robust cost management.

Despite a rise in expenses, the company managed to boost its profitability and strengthen its margins, with EBITDA margins improving by 272 basis points compared to the same period last year.

For the full financial year 2025, Gokaldas Exports achieved its highest-ever total income of Rs 3,917 crore, marking a 63 per cent increase from the previous financial year.

Profit before tax for the year grew by 37 per cent to Rs 218 crore in FY25, according to its stock exchange filing.

Commenting on the results, Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, said, “FY25 was a significant year for us as we consolidated acquisitions and delivered healthy growth in income and profits.”

“While we face challenges like the reciprocal tariff imposed by the US that could impact margins, opportunities such as the India-UK Free Trade Agreement provide optimism for future growth,” he added.

Established in 1979, Gokaldas Exports is one of India’s largest apparel manufacturers and exporters, supplying to more than 50 countries worldwide.

With over 30 production units and a workforce of more than 51,000 employees, the company produces approximately 87 million garments annually.

Bikaner (Rajasthan), May 22: Delivering a fiery address in Palana, Bikaner, his first visit to Rajasthan after Operation Sindoor — Prime Minister Narendra Modi on Thursday presented a firm, uncompromising stance against terrorism, asserting India’s new principles in dealing with threats.

“Operation Sindoor has established three clear principles,” the Prime Minister said.

First, any terrorist attack on India will receive a decisive response, with the timing and method left to the armed forces.

Second, India will not be intimidated by nuclear threats.

Third, there will be no distinction between terror groups and the governments that support them, PM Modi said.

Slamming Pakistan, PM Modi declared: “The game of state and non-state actors is over. India will hold all responsible parties accountable. Those bullets pierced the hearts of 140 crore Indians. Those who tried to erase the Sindoor of our sisters have been razed to the ground.”

Referring to the Pahalgam terror attack on April 22, which took place exactly a month ago when 26 innocent civilians were killed, he revealed that India’s forces destroyed nine major terrorist hideouts in Pakistan and Pakistan-occupied Kashmir within 22 minutes.

“The world saw what happens when Sindoor turns into Barood (gunpowder),” he said.

Making a scathing attack on the neighbouring country, he said, “Pakistan cannot face India directly, so it resorts to terrorism. But they forgot — now Modi stands here with his chest puffed out. My mind stays calm, but my blood runs hot with Sindoor.”

In his address, the Prime Minister said that seven Indian delegations comprising political leaders and foreign policy experts will visit different countries to expose Pakistan’s role in supporting terrorism.

“No talks, no trade with Pakistan — only talk will be about PoK,” he asserted, adding, “India will not back down. This is our resolve, and no power in the world can shake it.”

Describing Operation Sindoor as “not revenge, but the new face of justice,” he said, “This is the fierce form of Samarth Bharat — capable India.”

He recalled a symbolic connection with Rajasthan: “Five years ago, after the Balakot airstrike, my first public meeting was in Rajasthan. Today, after Operation Sindoor, I’m once again in this Veer Bhoomi (land of the brave).”

Earlier in the day, PM Modi visited the Karni Mata Temple in Deshnok before inaugurating 103 modernised Amrit Bharat railway stations and flagging off the Bikaner-Bandra Express.

He also launched and laid foundation stones for projects worth Rs 26,000 crore, including water and infrastructure initiatives for Rajasthan.

Highlighting India’s development strides, the Prime Minister cited engineering marvels like the Chenab Bridge, Atal Setu, and Pamban Bridge, and praised the Vande Bharat and Namo Bharat trains as symbols of a fast-moving India.

A touching moment unfolded when a woman named Sumitra from a self-help group presented a bullock cart model to PM Modi and tried to touch his feet. The Prime Minister gently stopped her and bowed in return.

Governor Haribhau Bagde, Chief Minister Bhajanlal Sharma, and senior BJP leaders were present at the event. Prime Minister Modi also visited an exhibition celebrating Rajasthan’s heroes.

New Delhi, May 22: The HSBC Flash India Composite Output Index – which measures the month-on-month change in the combined output of India’s manufacturing and service sectors – on Thursday reported robust business activity in May in the country, climbing to a 13-month high of 61.2, compared with 59.7 in the previous month.

At 61.2 in May, the HSBC Index showcased a sharp rate of expansion in private sector activity.

“The increase was the most pronounced since April 2024. There was a mild loss of growth momentum in the manufacturing industry but service providers reported the fastest rise in output in 14 months,” according to a HSBC Flash India PMI note.

The HSBC Flash India Manufacturing PMI was little changed from April’s reading of 58.2. At 58.3 in May, the latest figure was consistent with a sharp improvement in the health of the sector.

Private sector growth in India moved up a gear during May, boosted by an acceleration in the service economy.

Strong influxes of new business, both from domestic and international markets, induced quicker expansions in business activity and employment.

There was also an improvement in business confidence for the first time since January, said the HSBC.

“India’s flash PMI indicate another month of strong economic performance. Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April,” said Pranjul Bhandari, Chief India Economist at HSBC.

Notably, there is a firm pick-up in the employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India’s manufacturing and service sectors, Bhandari added.

While goods producers indicated the slowest increase in output for three months during May, service providers reported the fastest rise since March 2024.

At the composite level, the latest upturn was the quickest in just over a year. Monitored companies attributed growth to buoyant demand, investment in technology and expanded capacities, according to the note.

“Underlying data indicated that ongoing job creation enabled companies to stay on top of their workloads in May. Not only did employment continued to increase, but growth also hit a fresh series record (since December 2005). Anecdotal evidence showed that full- and part-time staff had been recruited on permanent and temporary bases,” said the HSBC report.