PDS Limited, a global supply chain solutions company providing customized services to global brands and retailers across product development, sourcing, manufacturing and brand management, has announced its consolidated financial results for the first quarter of FY 2026-27.
Consolidated Financial Results – Q1 FY27
(₹ in crore, unless mentioned otherwise)
| Particulars | Q1 FY27 | Q1 FY26 | Growth |
|---|---|---|---|
| Gross Merchandise Value | 5,146 | 4,634 | 11.1% |
| Revenue from Operations | 3,444 | 2,999 | 14.8% |
| EBITDA | 96 | 51 | 90.2% |
| EBITDA Margin (%) | 2.8% | 1.7% | 111 bps |
| PAT | 29 | 20 | 42.7% |
Key Highlights of Q1 FY27
PDS recorded double-digit growth during the quarter, with Gross Merchandise Value (GMV) increasing 11.1% YoY to ₹5,146 crore.
The company’s order book rose 23% YoY to ₹6,095 crore, strengthening its growth pipeline and providing visibility for upcoming quarters.
Revenue from operations increased 14.8% YoY, while gross margin expanded by 63 basis points. PAT grew 42.7% YoY, reflecting profitable growth during the quarter.
PDS also strengthened its balance sheet, with net working capital improving to 1 day and net debt declining 73% to ₹29 crore.
The company continued its portfolio optimization initiatives, with new investment verticals moving closer to profitability and strategic rationalization progressing on track.
During the quarter, PDS expanded its strategic partnerships and customer base by securing mandates with Family Dollar, a leading French retailer, and Pentland Brands. These mandates represent a combined annual business potential of US$330 million. The company also partnered with Busana Apparel Group to enhance its manufacturing capabilities.
Pallak Seth Highlights Growth and Strategic Positioning
Commenting on the results, Pallak Seth, Executive Vice Chairman, said:
“The year has begun with encouraging momentum, with broad-based growth across our platform reflected in higher GMV, revenue growth and a healthy order book that provides strong visibility for the quarters ahead. Beyond the financial performance, we continued to strengthen our strategic positioning through marquee customer wins and our partnerships, further expanding the scale and resilience of our global manufacturing network. As global sourcing continues to evolve, PDS remains uniquely positioned to help customers build more agile, diversified and resilient supply chains while creating sustainable long-term value for all stakeholders.”
Financial Foundation Strengthened Through Working Capital Controls
Sanjay Jain, Group CEO, said:
“The quarter marks another important step in strengthening PDS’ financial foundation. Disciplined cash management and tighter working capital controls enabled us to improve net working capital to 1 day and reduce net debt by 73%, significantly strengthening our balance sheet. We continue to advance our new investments towards profitability; the necessary portfolio rationalization is progressing on track. At the same time, we have embarked on our digital and AI transformation journey, which we believe will fundamentally enhance productivity, capital efficiency and operating leverage, positioning PDS for sustainable, profitable long-term growth.”
PDS Advances Digital and AI Transformation
Alongside its financial and portfolio initiatives, PDS has begun its digital and AI transformation journey, with the company stating that these initiatives are intended to enhance productivity, capital efficiency and operating leverage.
The company’s Q1 FY27 performance included higher GMV and revenue, stronger profitability, an improved working capital position, reduced net debt, and continued progress in portfolio optimization and strategic partnerships.