PDS Limited (erstwhile PDS Multinational Fashions Limited), a leading global plug and play design-led platform offering product development, sourcing, virtual manufacturing & supply chain platforms catering to leading brands and retailers globally, has announced its financial results for the quarter and nine months ended December 31, 2021.
Key performance highlights (Q3 FY22 vs Q3 FY21) (Consolidated):
- Income from operations stood at ₹2,232cr as compared to ₹1,626cr in Q3 FY21; y-o-y growth of 37%
- Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) was ₹101cr vs ₹76cr in Q3 FY21
- Reported Earnings Before Interest and Tax (EBIT) of ₹89cr against ₹67cr in Q3 FY21 (growth of 33%)
- Profit After Tax (PAT) of ₹81cr vs ₹59cr in Q3 FY21 (38% growth), with a margin of 3.6%
- The Company clocked ROCE’s of 38% and ROE’s of 33% in Q3 FY221
Key performance highlights (9M FY22 vs 9M FY21) (Consolidated):
- Revenues from operations stood at ₹6,053cr as compared to ₹4,448cr in 9M FY21; y-o-y growth of 36%
- EBITDA was ₹220cr vs ₹133cr in 9M FY21 and margin stood at 3.6% vs 3.0% in 9M FY21
- Reported EBIT of ₹234cr against ₹113cr in 9M FY21 (growth of 107%)
- PAT stood at ₹207cr vs ₹79cr in 9M FY21. The Company’s PAT margin expanded to 3.4% vs 1.8% in 9M FY21
- Basic EPS during 9M FY22 stood at ₹65.76 (vs full year FY21 EPS of ₹32.37)
Pallak Seth, Vice Chairman, PDS Limited commented “We are seeing good traction with leading brands and retailers who are exploring options to outsource the sourcing function. In order to tap into this opportunity, we are offering “Sourcing as a Service” to large brands and retailers and operate as a sole and exclusive partner for pre-agreed territories. We recently concluded two strategic agreements, the first being Techno Design, our Germany-based group company, which has become the exclusive sourcing partner of s.Oliver for India and Sri Lanka region. Secondly, we have become the sole & exclusive vendor to Hanes Brands in Bangladesh. We are thrilled to partner with leading brands and retailers for their sourcing & manufacturing requirements.”
Commenting on the results, Sanjay Jain, Group CEO, PDS Limited said, “We are pleased to share that in the last 9 months, we have nearly achieved our full-year numbers of last fiscal. Our plans of expanding our footprint in the North American market continue to gain further momentum. We had ended last financial year with the contribution from North America at 8% of our topline which has now increased to 19% in the third quarter this year. The recent arrangement with Hanes Brands will further bolster our North American operations. We are excited about the opportunities that are unfolding in this geography.”
The sourcing segment which accounts for ~96% of the Company’s topline has clocked 34% growth in nine months ended December 2021, with a topline of ₹5,807cr. This segment reported an EBIT of ₹213cr with a ROCE of 51%.
Given the strong performance in the last nine months and with the visibility of the next quarter, PDS is currently on track to achieve $1bn in topline.
The Company has received requisite approvals and has changed its name from PDS Multinational Fashions Limited to PDS Limited.
