PDS Limited has announced its financial results for Q1, FY ’23!
The leading global fashion infrastructure platform saw its revenue from operations increase by 44 per cent to Rs. 2,340 crore from Rs. 1,626 crore in Q1, FY ’22.
The profit after tax (PAT), notably, stood at Rs. 44 crore versus adjusted PAT of Rs. 18 crore in Q1, FY ’22, a growth of 141 per cent.
PDS Limited is known for offering product development, designated sourcing, manufacturing and supply chain management catering to leading global brands and retailers.
The company’s sourcing segment clocked a topline of Rs. 2,216 crore accounting for 95 per cent of the company’s topline with a growth of 42 per cent compared to the previous year.
The fashion firm is continuously making inroads and expanding its presence in the US market, which constituted 18 per cent of the top line in the current quarter compared to 11 per cent last year.
The manufacturing segment recorded growth of 78 per cent with a topline of Rs. 169 crore versus Rs. 95 crore last year. The segment turned profitable in Q4, FY ’22 and continued its profitability journey with a reported PAT margin of 2 per cent in the current quarter.
Pallak Seth, Vice Chairman, PDS Limited, expressed “The developed markets are facing headwinds with inflation, rising cost and uncertainties due to geopolitical factors. However, this is creating opportunities for PDS to win strategic long-term contracts by offering exclusive sourcing as a service to leading retailers and brands. We expect to continue our growth trajectory with cautious optimism. It’s our multi-country, multi-product business model that makes us stronger and makes us deliver a robust performance in spite of macro challenges.”
Sanjay Jain, Group CEO, PDS Limited, said “Today, we are no longer just a fashion company but have transformed into a global innovation-led fashion infrastructure company, powered by a robust governance framework. With the manufacturing business now contributing to the bottom line, we expect we would continue on our trajectory of higher returns.”
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