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PDS Multinational Fashions Ltd Reported Revenue of ₹6,213cr with PAT growth of 83% in FY21

PDS Multinational Fashions Ltd Reported Revenue of ₹6,213cr with PAT growth of 83% in FY21

Bengaluru : PDS Multinational Fashions Ltd, a leading global plug and play design-led platform offering product development, sourcing, virtual manufacturing & supply chain platforms catering to leading brands and retailers globally, has announced its financial results for the fourth quarter and full-year ended March 31st, 2021.

Quarter ended 31st March 2021

The Company reported topline of ₹1,765cr in Q4FY21, recording a growth of 9% vs Q3FY21. EBITDA increased by 27% from ₹76cr in Q3FY21 to ₹97cr in Q4 FY21. Profit before tax increased by 31% to

₹81cr in Q4FY21 vs Q3FY21.

Mr. Deepak Seth, Chairman, PDS Multinational Fashions Limited stated that “Last year posed quite a lot of challenges due to the unprecedented impact of COVID on the business and life in general. However, I am extremely proud that the entire PDS team has faced the rough waters and has come out stronger. As we move ahead in our journey of growth and profitability, I strongly believe we are well placed to distribute steady-state dividends to our shareholders.”

 

Mr. Pallak Seth, Vice Chairman, PDS Multinational Fashions Limited commented “PDS Multinational has built an integrated global tech-enabled platform through which retailers, brands, and entrepreneurs can leverage and derive scale and agility. We are focussed on maintaining the growth momentum and are constantly evaluating opportunities of expanding our business to new categories, and new geographies thereby enhancing value for our stakeholders.”

 

Commenting on the results, Mr. Sanjay Jain, Group CEO, PDS Multinational Fashions Limited said, “PDS has created a resilient business model with robust control and monitoring mechanisms. Despite disruptions of COVID, we have managed to protect our topline and expand margins and profitability. While the UK and Europe, one of our key geographies, faced a prolonged period of lockdown, we have witnessed good traction whenever lockdown was lifted in these markets. Now with the rollout of the vaccination and opening up of stores, we believe the growth in these markets will be restored. Further, we are proactively & cautiously making inroads into new geographies including the US, South Africa, Australia amongst others. PDS has on-boarded senior business heads to drive business in new geographies, categories, and customers.”

 

PDS has created an asset-light business model supported by strong financials and a highly experienced leadership team. The platform has a global footprint and operates with a well-diversified base of marquee customers across geographies. The Company has created end-to-end capabilities in design/product development, multi-product/multi-country sourcing reducing time to market, and providing cost-effectiveness to its customers. The PDS platform is supported by cutting-edge technological solutions providing tools for agility.

 

PDS has successfully demonstrated robust growth, profitability, and returns on capital employed for its sourcing business. The focus over the next 12-18 months is on further strengthening our capabilities in our manufacturing facilities by driving higher orders, cross leveraging group business, and increasing efficiencies.

 

Sustainability including compliance and ethics is one of the key building blocks of the PDS platform. PDS has a keen focus on promoting sustainable materials, low-impact manufacturing, and investing in a sharing circular economy. In line with this strategy, PDS has announced the acquisition of a 50% stake in Yellow Octopus (www.yellow-octopus.com), a leading company providing commercial sustainability solutions to the fashion industry. Yellow Octopus in association with marquee global retailers and brands is focused on transforming the fashion industry from a Linear to Circular Economy Model.

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