Invest
Textiles company PDS announced Q1FY24 results:
- Gross Merchandise Value of Rs 3,025 growth of 13% YoY
- Top line of Rs 2,115 crore
- Gross margins increased from 15.9% in Q1FY23 to 18.7% in Q1FY24
- EBITDA of Rs 67 crore with 3.2% margins
- PAT stood at Rs 23 crore
- Achieved ROCE of 37% with ROE of 27%
Speaking on the results, Pallak Seth, Executive Vice Chairman, said, “We believe that the forthcoming months may continue to present challenges, exerting an influence on our growth in the immediate period. However, our medium to long-term outlook is positive, and believe that the trajectory is expected to turn around in the latter part of the year. Despite the headwinds, we are focusing on building our capabilities and service offerings while exploring strategic opportunities to position ourselves for growth.”
Commenting on the Company’s performance and outlook, Sanjay Jain, Group Chief Executive Officer said, “Our asset-light platform has proven valuable in navigating through the challenges confronted by the global fashion industry. While the quarter experienced subdued growth, we need to see it in the light of the ongoing macroeconomic headwinds, production slowdown due to extended EID holidays during the quarter, and comparison to an exceptional Q1FY23, which benefitted from post covid pent-up demand. We are looking forward to the opportunities that lie ahead and remain focused on delivering long-term value to our customers, employees, and shareholders.”
FAQ’s on PDS Ltd Shares
