Operates a global apparel sourcing and supply chain platform, connecting fashion retailers and brands with garment factories across multiple manufacturing countries. Sourcing — managing textile and apparel procurement on behalf of retailers — made up 92.3% of FY26 segment revenue at ₹12,398.8 crore, while own Manufacturing contributed 7.7% at ₹1,034.1 crore. The Manufacturing segment grew 31% YoY in FY26 with an EBIT margin of 5.5%. The FY26 order book stood at ₹5,074 crores, up 11% YoY, with the North America portion up roughly 30%, providing FY27 revenue visibility. A new multi-year sourcing-as-a-service mandate with a leading French-headquartered supermarket involves apparel sourcing of over US$250 million in FOB volume annually across Bangladesh, Pakistan, India, Sri Lanka and Turkey, starting November 2026. Employee cost is the largest expense line at 10.0% of revenue, with materials at 4.9% and other opex at 7.6%, reflecting the asset-light, labour-intensive nature of the sourcing model. The group handled over US$2.2 billion in GMV in FY26 across roughly 22 countries. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sourcing (92%), Manufacturing (8%), Others (0%). Asset-light, labour-intensive global apparel sourcing platform with a smaller in-house manufacturing arm.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8,828 | 10,577 | 10,373 | 12,578 | 13,110 |
| EBITDA (ex other income) | 323 | 459 | 398 | 457 | 385 |
| margin % | 3.7 | 4.3 | 3.8 | 3.6 | 2.9 |
| Owners' profit | 248 | 265 | 144 | 157 | 112 |
| EPS, as reported (₹) | 95.38 | 20.30 | 10.98 | 11.44 | 7.91 |
| ROE % · ROCE % | 31.3 · 32.3 | 29.4 · 35.4 | 16.3 · 24.3 | 14.1 · 20.4 | 9.6 · 16.7 |
| Debt / equity (x) | 0.67 | 0.54 | 0.76 | 0.65 | 0.61 |
| Cash from operations | 403 | 510 | 190 | (37) | 781 |
| Capex | (38) | (32) | (162) | (91) | (36) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,306 | 3,125 | 3,526 | 2,999 | 3,419 | 3,172 | 3,519 | 3,444 |
| Profit before tax | 101 | 48 | 84 | 27 | 55 | 46 | 80 | 32 |
| Net profit | 93 | 42 | 75 | 20 | 48 | 37 | 72 | 29 |
| EPS (₹) | 5.32 | 1.77 | 2.86 | 0.92 | 2.13 | 1.39 | 3.47 | 1.33 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Sourcing | 12,399 | 92.3 |
| Manufacturing | 1,034 | 7.7 |
| Others | 1 | 0.0 |
| Total, before eliminations | 13,434 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PDS LIMITED ◆ | 4,902 | 41.7 | 2.64 | 10.9 | 9.6 | 9.8 | 16.1 | 3.1 |
| LE MERITE EXPORTS LIMITED |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · PDS Limited files FY26 Group Sustainability Report titled Responsible by Design | business updates | low | — | — |
| 26 Aug 2026 · PDS Limited to attend Aswamedh Elara India Dialogue on September 1 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · PDS Limited to sell remaining 49% stake in DBS Lifestyle associate | strategic transactions | high | — | — |
| 12 Aug 2026 · PDS Limited to attend Emkay Confluence 2026 investor meet in Mumbai | board shareholder meetings | low | — | — |
| 11 Aug 2026 · PDS Limited publishes newspaper notice on physical share demat window | compliance | minimal | — | — |
| 10 Aug 2026 · Audio recording of Q1 FY27 conference call uploaded on website | investor communications | low | — | — |
| 10 Aug 2026 · PDS Limited receives CRISIL ESG rating in 'Strong' category | business updates | medium | — | — |
| 8 Aug 2026 · PDS Limited publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 7 Aug 2026 · PDS Limited Q1 FY27 PAT up 43 percent, Revenue up 15 percent | compliance | medium | — | — |
| 7 Aug 2026 · PDS QIP monitoring report for Q1 FY27 shows no deviation in use of proceeds | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 267 |
| 4.3 |
| 1.98 |
| 14.9 |
| 8.6 |
| 10.5 |
| — |
| (4.0) |
| BHILWARA TECHNICAL TEXT L | 248 | 13.9 | 1.54 | — | (7.0) | (6.5) | 32.8 | (128.6) |
| STANDARD INDUSTRIES LTD. | 114 | 1.8 | 0.99 | — | (16.9) | (15.8) | 23.6 | 45.1 |
| SPL INDUSTRIES LIMITED | 87 | 10.5 | 0.40 | — | 3.3 | 2.8 | — | 18.6 |
| Anand Rayons Limited | 84 | 7.7 | 0.82 | — | 7.1 | 9.4 | — | 3.1 |
| Vivaa Tradecom Limited | 53 | 37.8 | — | — | — | 3.6 | — | — |
| SANBLUE CORPORATION LTD. | 16 | 34.1 | 0.45 | — | 0.6 | 0.5 | — | (3.0) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 41.7 | 12.2 | 10 of 10 | 0% |
| P/B | 2.6 | 1.3 | 8 of 8 | 0% |
| ROCE | 9.8 | 3.2 | 3 of 10 | 78% |
| ROE | 9.6 | 3.3 | 2 of 9 | 88% |
| Debt / Equity | 0.6 | 0.0 | 8 of 9 | 13% |
| EBITDA margin | 3.1 | 3.0 | 3 of 7 | 67% |
| Revenue growth | 14.8 | 25.8 | 7 of 9 | 25% |
| Profit growth | 42.7 | 76.5 | 6 of 8 | 29% |
| Market cap | 4902 | 85 | 1 of 10 | 100% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
