Highlights

• Gokaldas Exports shares surged 19.99% to ₹694.05 on February 3.
• US tariffs on Indian apparel exports revised to 18%, below Vietnam and Bangladesh at 20%.
• Q3FY26 total income reported at ₹998 crore, steady year-on-year.

Shares of Gokaldas Exports Ltd (NSE:GOKEX) witnessed a sharp rally on Tuesday, February 3, rising nearly 20%, after the United States and India announced a new trade agreement late Monday. The development came as a relief for Indian textile exporters, which had faced pressure following the imposition of a 50% tariff on Indian exports by US President Donald Trump earlier. The revised tariff structure triggered renewed interest in textile stocks during Tuesday’s session.

Trade Deal Lifts Textile Stocks

Indian textile stocks, particularly export-focused companies, moved higher after the US–India trade deal was announced by President Donald Trump and Prime Minister Narendra Modi on their respective social media platforms. Under the agreement, Indian exports to the US will now attract an 18% tariff, compared with the earlier 50%.

The revised rate places India at a relative advantage over other major garment-exporting hubs such as Vietnam and Bangladesh, which continue to face tariffs of 20%. Market participants tracked textile stocks closely as the announcement followed months of uncertainty for exporters dependent on the US market.

Stock Performance Snapshot

Gokaldas Exports shares climbed to ₹694.05, up ₹115.65, marking a 19.99% intraday gain. Despite the sharp rise, the stock remains down about 28% over the past year. The counter touched its 52-week low of ₹531 on January 27, 2026.

The rally in textile stocks also coincided with broader market gains, with the NIFTY 50 index rising 2.79% to 25,788 during the same session.

Q3FY26 Financial Performance

For Q3FY26, Gokaldas Exports reported consolidated total income of ₹998 crore, largely unchanged year-on-year despite the first full-quarter impact of US tariffs. India operations recorded 8% year-on-year growth, while the Africa business was affected by AGOA-related uncertainty and supply chain delays, though it showed sequential improvement.

EBITDA for the quarter stood at ₹96 crore, with margins at 9.7%, compared with 11.7% in Q3FY25. Profit after tax came in at ₹15 crore, compared with ₹50 crore in the year-ago period. For 9MFY26, total income rose 3% year-on-year to ₹2,978 crore, while EBITDA increased 6% to ₹299 crore.

Management Commentary and Operations

The company stated that productivity gains, order book visibility, and cost management measures helped offset the impact of tariff-related adjustments. India operations continued to expand during the quarter, while the Africa business indicated improved order flows toward the end of the period.

Established in 1979, Gokaldas Exports operates over 30 production units with annual capacity of 87 million garments, exporting to more than 50 countries.

The announcement of the US–India trade deal and the reduction in tariffs provided a near-term boost to Indian textile stocks, with Gokaldas Exports emerging as one of the significant gainers. The development coincided with ongoing operational updates and quarterly earnings, keeping the stock in focus during Tuesday’s session.

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