Fashion
India’s PDS Limited reports 18% GMV growth & strong Q2 performance
The revenue from operations grew 14 per cent sequentially to ₹3,419 crore, while gross profit improved 17 per cent to ₹680 crore. EBITDA more than doubled to ₹103 crore in Q2 FY26, reflecting enhanced operational efficiency. Profit after tax (PAT) jumped 142 per cent quarter-over-quarter (QoQ) to ₹48 crore. On a half-yearly basis, EBITDA and PAT declined 31 per cent and 41 per cent YoY respectively, primarily due to higher input costs and strategic restructuring, PDS Limited said in a press release.
India’s PDS Limited has reported an 18 per cent rise in GMV to ₹5,467 crore (~$619.2 million) in Q2 FY26, with revenue up 14 per cent and PAT surging 142 per cent to ₹48 crore.
The order book reached ₹5,308 crore (~$601.1 million), up 15 per cent YoY.
Improved working capital efficiency generated ₹593 crore in cash flow, and the board declared an interim dividend of ₹1.65 per share.
“Our results demonstrate that sustainable growth is achieved through focus, efficiency, and disciplined execution. Our growth journey is centered on strengthening and expanding the potential of our existing businesses and partnerships, with no new investments at this stage. By sharpening our focus on execution, leveraging synergies, and fostering collaboration across our global network, we are building a stronger, more efficient, and purpose-driven PDS—one that grows sustainably and responsibly while upholding the highest standards of governance,” said Pallak Seth, executive vice chairman at PDS Limited.
“We continue towards our commitment of building a resilient, cost-efficient PDS. Our focus remains on driving operational excellence across our core business verticals, which is starting to show in our results, with optimized working capital and reduced net debt levels. By focusing on high-impact areas and streamlining underperforming verticals, we are enabling responsible growth and building a future-ready organization scaling towards enhancing profitability,” said Sanjay Jain, group CEO.
As of early October 2025, PDS Limited’s order book stood at ₹5,308 crore (~$601.1 million), marking a 15 per cent YoY increase and reflecting sustained business momentum despite global macroeconomic headwinds. The company achieved notable improvement in working capital efficiency, reducing net working capital days from 17 in March 2025 to 6 in September 2025, generating ₹593 crore in cash flow from operations. The board also approved an interim dividend of ₹1.65 per share, consistent with the previous year, added the release.
Fibre2Fashion News Desk (SG)
On a year-on-year (YoY) basis, final demand prices climbed 3.4 per cent in the 12 months ended February, matching the largest annual increase recorded in February 2025. Margins for apparel, footwear, and accessories retailing declined by 4.5 per cent, BLS said in a press release.
US producer prices rose 0.7 per cent MoM in February 2026, with annual inflation at 3.4 per cent.
The increase was driven mainly by services, up 0.5 per cent, while goods prices climbed 1.1 per cent, led by energy.
Apparel retail margins fell 4.5 per cent.
The data signals broad-based wholesale inflation, with sustained pressure despite weakness in select consumer-facing segments.
The February rise was driven largely by services, which accounted for more than half of the overall increase. Prices for final demand services advanced 0.5 per cent, marking the third consecutive monthly gain. Within this category, prices for services excluding trade, transportation, and warehousing rose 0.6 per cent, contributing nearly three-fourths of the increase. Trade services and transportation and warehousing services also posted gains of 0.4 per cent and 0.5 per cent, respectively.
Meanwhile, prices for final demand goods rose 1.1 per cent in February, the steepest increase since August 2023. Energy prices also increased by 2.3 per cent, while prices for goods excluding food and energy registered a more modest rise of 0.3 per cent.
Fibre2Fashion News Desk (SG)
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