Pds Limited · NSE:PDSL
Pds — Q2 FY26 / H1 FY26 Earnings Presentation
29 slides from Pds's earnings presentation, October 2025
Slide 1: Investor Presentation Q2 and H1 FY26
INVESTOR PRESENTATION Q2 a n d H 1 FY26 O CTO BE R 2 0 2 5 INVESTOR PRESENTATION | Q2 and H1 FY26
Slide 2: Safe Harbour
PDS LIMITED Safe Harbour The Presentation is to provide the general background information about the Company’s activities as a t the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommenda
Slide 3: Table of Contents
01 KEY HIGHLIGHTS 02 P RO G R E S S O N AU G M E N TAT I O N O F P RO F I TA B I L I T Y A N D R E T U R N S Table of 04 / 06 07 / 16 Contents 03 P E R F O RM A NC E OVERVIEW 04 OT H E R U P DAT E S 17 / 24 25 / 28 INVESTOR PRESENTATION | Q2 and H1 FY26
Slide 4: Key Highlights
01 Key Highlights 01/ KEY HIGHLIGHTS & FINANCIAL SNAPSHOT INVESTOR PRESENTATION | Q2 and H1 FY26
Slide 5: Key Highlights
PDS LIMITED Key Highlights: Sustainin g the Growth Mo men tu m and Measures Underway to Augmen t Profitab ility & Cash flow 1. Clocked GMV of ₹10,101cr for H1 FY26, registering 8% Y-o-Y growth 2. Reported topline of ₹3,419cr for Q2 FY26 reflecting 14% Q-o-Q and ₹6,419cr for H1 FY26 growth of 8% Y-o-
Slide 6: Financial Snapshot (Q2 FY26 | H1 FY26)
PDS LIMITED Financial Snapshot (Q2 FY26 | H1 FY26) ₹ IN CR AND $ IN MN, UNLESS MENTIONED OTHERWISE GMV REVENUE PAT Q2 FY26 vs Q1 FY26 ₹5,467 ₹3,419 ₹48 ($627) ($392) ($6) 18% 14% 142% QoQ QoQ QoQ 0.24x PAT MARGIN: 1,4% Net Debt/EBITDA Q2 FY26 Q2 FY26 Q2 FY26 H1 FY26 vs H1 FY25 ₹10,101 ₹6,419 ₹68 ($1
Slide 7: Progress on Augmentation of Profitability and Returns
02 Progress on Augmentation of Profitability and Returns 03/ W H AT H A S I M PA C T E D U S & W H AT A R E W E D O I N G TO FIX IT? 04/ M E A S U R E S U N D E R WAY F O R P R O F I TA B I L I T Y A N D C A S H F LO W A U G M E N TAT I O N 05/ B CG – I M P L E M E N TAT I O N O F B E S T P R A C T
Slide 8: What has Impacted Us & What are we doing to fix it? (1/8)
PDS LIMITED What has Impacted Us & What are we doing to fix it? (1/8) ₹ IN CR, UNLESS MENTIONED OTHERWISE Transformation Phase Investment Phase FY21 FY22 FY23 FY24 FY25 Sourcing & Others 5,928 7,967 9,751 8,972 10,610 1. Investments in New Verticals and New New Verticals 314 123 283 666 Lobster larg
Slide 9: Measures Underway for Profitability Augmentation (2/8)
PDS LIMITED Measures Underway for Profitablity Augmentation (2/8) Sr Measures/Initiatives Progress Thus Far Outlook No 1. Investment in new verticals in H1 FY26 is largely flat 1. ~$4.8mn (₹40cr) reduction (25-30%) y-o-y during the entire year vs $19mn Investment Through P&L 2. H1 FY26 includes impa
Slide 10: Measures Underway for Profitability Augmentation (3/8)
PDS LIMITED Measures Underway for Profitablity Augmentation (3/8) Sr Measures/Initiatives Progress Thus Far Outlook No 1. Incurred combined loss of $4mn Design Arc, Twins, Grupo & Jcraft being merged with (₹34cr) in FY 25 another existing large verticals 2. Target to cut 50% losses in next 18 months
Slide 11: Measures Underway for Cashflow/Balance Sheet Augmentation (4/8)
PDS LIMITED Measures Underway for Cashflow/Balance Sheet Augmentation (4/8) Cash Flow from Operations in H1 FY26 is ₹593cr ($67mn) vs Outflow of ₹37cr($4mn) in FY25 Sr Measures/Initiatives Progress Thus Far Outlook No 1. Atleast 50% lower at ₹70cr ($9mn) vs ₹144cr 1 Capex 1. H1 FY26 capex 54% lower
Slide 12: BCG – Implementation of Best Practises & Change Management (5/8)
PDS LIMITED BCG – Implementation of Best Practises & Change Management Thereof (5/8) Targeted to help in improving margin profile of Top 10 Verticals Key Focus Areas Initiatives Fabric Purchase Best price discovery & sustainability of savings 1 Transparent Bidding Process - Core items (fabrics/ trim
Slide 13: Creating guardrails for future investments in New Businesses (6/8)
PDS LIMITED Creating guardrails for future investments in New Businesses (6/8) 1. Financial Guardrails: a. Group Level: Restricted to 15-20% of profits after tax and minority payout b. Investments by existing verticals: only after 3% PAT & free cashflow within business 2. Process Guardrails: a. All
Slide 14: Standardized MoUs (7/8)
PDS LIMITED Standardized MoUs (7/8) Incentivize BHs for better performance & protection measures for non -performance INCENTIVES DISINCENTIVES Incentivising Business Heads for high growth Protective measures for non- performance & profits through: (less than 75% budget achievement): 1. Additional pr
Slide 15: Enhancing Digital Capabilities (8/8)
PDS LIMITED Enhancing Digital Capabilities (8/8) Optimizing IT Systems to Enable Implementation of Best Practices MDM + Costing tool E Auction Platform SAP HANA Transition Pricing Tool revamp Coupa has been selected Being the digital Pricing tool platform will Current costing tool is as the eAuction
Slide 16: Strengthening India Sourcing to Cater to Global Operations
PDS LIMITED Strengthening India Sourcing to Cater to Global Operations Deep UK customer relationships supported by the Knit Gallery acquisition to act as catalyst of growth Well established customer presence Acquired Manufacturing • Established a multi-country UK/EUROPE sourcing global footprint IND
Slide 17: Performance Overview
03 Performance Overview 09/ REVENUE BREAKUP 10/ P R O F I T & LO S S S TAT E M E N T 11/ PERFORMANCE BEFORE INVESTMENTS 12/ BALANCE SHEET 13/ S E G M E N TA L P E R F O R M A N C E INVESTOR PRESENTATION | Q2 and H1 FY26
Slide 18: Revenue Break-up: Geography & Category (H1 FY26)
PDS LIMITED Revenue Break-up: Geography & Category (H1 FY26) GEOGRAPHY WISE SPLIT CATEGORY WISE SPLIT % Share % Growth % Share % Growth Y-o-Y Y-o-Y 46% 37% UK 31% Men’s 5% 40% Wear 38% 31% Women’s 36% Europe -14% 6% 41% Wear 36% Americas 19% Children 22% 25% 19% 17% Wear 20% Asia & Middle 4% East &
Slide 19: Performance Overview of Top Sourcing Verticals
PDS LIMITED Performance Overview of Top 10 Sourcing Verticals * Over 76% of Total Topline – 4% growth in topline, PBT down by ~14% with declining margins $ IN MN, UNLESS MENTIONED OTHERWISE REVENUE PBT PBT Margin VERTICALS KEY COUNTRY Growth YoY Growth YoY H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1
Slide 20: Profit and Loss (Consolidated in ₹ Crs)
PDS LIMITED Profit and Loss (CONSOLIDATED IN ₹ CRS) QUARTER ENDED HALF YEAR ENDED PARTICULARS (₹ IN CRS., UNLESS MENT IONED OT HERWISE) 30-Sep-25 30-Jun-25 GROWTH (%) 30-Sep-24 GROWTH (%) 30-Sep-25 30-Sep-24 GROWTH (%) COMMENTARY Q-o-Q Y-o-Y Y-o-Y Gross Merchandise Value 5,467.4 4,633.5 18.0% 5,437
Slide 21: Quick Look at Performance Before & After Investment in New Verticals
PDS LIMITED Quick Look at Performance Before & After Investment in New Verticals (FIGURES IN ₹ CRS) H1 GROWTH S PARTICULARS (₹ IN CR, UNLESS MENTIONED OTHERWISE) N KEY FOCUS AREAS OF GROWTH FY 26 FY 25 (Y-O-Y) O H1FY26 H1FY25 Total Revenue 6,418.6 5,927.3 8% Design Led Sourcing 1 (Stellar, Knitwear,
Slide 22: Segmental Performance at a Glance H1 FY26
PDS LIMITED Segmental Performance AT A GLANCE H1 FY26 ₹ IN CRORE AND $ IN MN, UNLESS MENTIONED OTHERWISE S OURCIN G MAN UFACT U RIN G PDS VEN TURES PDS AN D OTHERS CON S OLIDAT E D INVESTMENT IN PDS VENTURES, REAL ESTATE & OTHERS REVENUE REVENUE REVENUE REVENUE Y-o-Y Growth % Y-o-Y Growth % Y-o-Y Gr
Slide 23: Balance Sheet (Consolidated in ₹ Crs)
PDS LIMITED Balance Sheet (CONSOLIDATED IN ₹ CRS) PARTICULARS AS ON PARTICULARS AS ON (₹ IN Crs., UNLESS MENTIONED OTHERWISE) 30-Sep-25 31-Mar-25 (₹ IN Crs., UNLESS MENTIONED OTHERWISE) 30-Sep-25 31-Mar-25 Non-Current Assets 1,436 1,234 Inventory Days 19 18 Current Assets 3,470 3,512 Debtor Days 40
Slide 24: Cash Flow Statement (Consolidated in ₹ Crs)
PDS LIMITED Cash Flow Statement (CONSOLIDATED IN ₹ CRS) Generated Cash Flow of ₹593cr from Operating Activities H1 ENDED YEAR ENDED H1 ENDED YEAR ENDED PARTICULARS (₹ IN Crs., UNLESS M ENTIONED OTHERWISE) PARTICULARS (₹ IN Crs., UNLESS M ENTIONED OTHERWISE) 30-Sep-25 31-Mar-25 30-Sep-25 31-Mar-25 A.
Slide 25: Other Updates
04 Other Updates 14/ S T R AT E G I C PA R T N E R S H I P : P D S V E N T U R E S X BLUEKAKTUS 15/ Q I P P R O C E E D S U T I L I Z AT I O N - U P DAT E 16/ INTERIM DIVIDEND H1 FY26 INVESTOR PRESENTATION | Q2 and H1 FY26
Slide 26: Strategic Partnership: PDS Ventures x BlueKaktus
PDS LIMITED Strategic Partnership: PDS Ventures x BlueKaktus • BlueKaktus is an AI-powered digital supply chain platform purpose- built for the fashion industry. • BlueKaktus brings over three decades of domain expertise with advanced ERP and MES solutions for manufacturers, and next-gen digital pla
Slide 27: QIP Proceeds Utilization – Update
PDS LIMITED QIP Proceeds Utilization – Update No further deployment of QIP proceeds during the quarter Net Proceeds ₹411cr | $46mn Cash & Investments Knit Gallery Debt Repayment in Hand Acquisition ₹278cr | $31.4mn ₹109cr | $12.2mn ₹24cr | $2.7mn Represents upfront consideration, deferred considerat
Slide 28: Interim Dividend H1 FY26
PDS LIMITED Interim Dividend H1 FY26 Dividend per share (₹) as last year ₹ IN CRORE AND $ IN MN, UNLESS MENTIONED OTHERWISE IN ₹ CR IN $ MN H1 FY25 H1 FY26 H1 FY25 H1 FY26 Particulars Declared & Paid Declared & Paid Consolidated Net Profit After Tax 116.4 68.5 13.9 7.9 Less: Net Profit Attributable
Slide 29: Thank You
THANK C O N TA C T U S YOU PDS LIMITED Unit No.971, Solitaire Corporate Park, Andheri-Ghatkopar Link Road, Andheri (E), Mumbai-400093, Maharashtra, India CIN: L18101KA2011PLC094125 Tel.: +91-22-41 441 100 Email: investors@pdsltd.com INVESTOR PRESENTATION | Q2 and H1 FY26