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Textiles company PDS announced Q3FY24 & 9MFY24 results:
- Gross Merchandise value increased YoY by 19% to Rs 10,724 crore in 9MFY24
- SAAS business delivering 260% growth in the 9MFY24
- Agency business delivering 90% growth in the 9MFY24
- Consolidated topline of Rs 7,157 crore with gross margins of 20.6%, expansion of 375 bps
- Reported EBIDTA of Rs 278 crore with EBIDTA margin of 3.9%
- PAT amounted to Rs 137 crore; 9MFY23 PAT included one-time gain from real estate hence not comparable YoY
- PDS expanding our Manufacturing Footprint in Sri Lanka
- Acquired 26% stake in Nobleswear Pvt Ltd. through Norlanka Manufacturing Ltd.
- Specialized manufacturer of children's wear, casual wear, knit and woven products.
- Three state-of-the-art facilities across Sri Lanka- focused on quality, ethical manufacturing, and sustainability.
- Right to acquire an additional 24% stake at the same valuation over the next three years
- Nobleswsear Key Financials FY23 Topline of Rs 138 crore, EBITDA Rs 15 crore and PAT of Rs 11 crore
Commenting on the business updates Pallak Seth, Executive Vice Chairman, said, “We view the current quarter as a mere blip in PDS's ongoing journey. The array of opportunities in our pipeline, coupled with the recent addition of top talent, instills confidence that we are well-prepared to capitalize on strategic opportunities emerging within the global fashion value chain. Our focus remains steadfast on achieving sustainable, long-term growth, as evidenced by our carefully planned strategic investments throughout the year. We are unwavering in our commitment to becoming the preferred and innovative solutions provider across the fashion value chain.”
Reflecting on the Company's performance for Q3FY24 and 9MFY24, Sanjay Jain, Group CEO commented, "While this quarter proved to be subdued, we are poised for anticipated growth in the latter part of the year. We have refrained from implementing any cost optimization measures as we maintain confidence in the recovery of our business which is reflected in the margins. Our focus remains on fortifying our position across the entire fashion value chain while driving sustainable growth trajectories for the benefit of all our stakeholders."
FAQ’s on PDS Ltd Shares
