PDS Limited has informed the Exchange about Transcript
PDSL · price
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Awaiting price reaction for this filing.
PDS Limited reported Q2 FY26 revenue of ₹3,419 crore (up 14% sequentially) and H1 FY26 revenue of ₹6,419 crore (up 8% YoY), with GMV crossing ₹10,000 crore in H1. The order book stood at ~₹5,300 crore, up 15% YoY, driven by new client wins including TK Maxx, Ross Stores, Target, Walmart, and PVH. Q2 EBITDA margin improved to 3% from 1.7% in Q1, with gross margins expanding to 19.9%. Working capital days dropped sharply from 17 to 6, generating ₹593 crore in operating cash flow and reducing net debt by ₹279 crore. Management announced an interim dividend of ₹1.65 per share. H1 PAT was ₹68 crore (down 41% YoY) due to P&L investments in new verticals, but management guided margin recovery toward 3.5% PBT over 12-18 months as cost optimization and e-auction initiatives take effect.
Positive for shareholders — the transcript confirms improving operating metrics, strong order pipeline, and explicit margin recovery guidance, though near-term earnings remain pressured by new vertical investments and tariff-related customer caution. Strong cash flow and debt reduction support the case for sustained returns.