Slide 1: Stock exchange cover letter for investor presentation
PDS/SE/2026-27/14 May 15, 2026 Listing Department Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1 Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai - 400051 Mumbai- 400001 Scrip Symbol: PDSL Scrip Cod
Slide 2: Investor Update Q4 & FY26
INVESTOR UPDATE Q4&FY26 M AY 2 0 2 6
Slide 3: 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 4: Table of Contents
01 02 03 WHO WE ARE? 04 / 06 K E Y H I G H L IG H T S 07 /13 P E R F O RMA NC E OVERVIEW 14 / 20 Table of Contents 04 05 06 P R O G R E S S U P D AT E – M E A S U R E S U N D E RTA K E N F O R P R O F I TA B I L I T Y E V O LV I N G M A R K E T DYNAMICS & PDS POSITIONING OT H E R U P DAT E S A U G M
Slide 5: Who we are?
01 Who we are ?
Slide 6: Who we are
PDS LIMITED Who we are $2.2bn GMV. Asset-light. Minimal Inventory. Minimal credit risk. 22+ countries. W E A R E $2.2bn+ GMV The world's largest listed global $1.5bn Revenue apparel sourcing platform. 1.3mn+ Pieces / day Merchandise handled 22+ Countries An asset-light, $2.2bn+ GMV platform operatin
Slide 7: Scale at a glance
PDS LIMITED Scale at a glance A platform built over 25 years — globally distributed, deeply integrated, built for growth. 22+ 90+ 40+ 250+ 600+ ~1.3 mn Countries Offices Business Verticals Designers Compliant Factory Partners Pieces / day 25 YRS GEOGRAPHIC REACH OPERATING MODEL FINANCIAL SCALE 4 con
Slide 8: Key Highlights
02 Key Highlights 01/ KEY HIGHLIGHTS & FINANCIAL SNAPSHOT 02/ REVENUE BREAK UP
Slide 9: 2025-26 Driving Growth, Efficiency, and Strategic Resilience
PDS LIMITED 2025-26 Driving Growth, Efficiency, and Strategic Resilience through a tough year 1. GMV scaled to ₹19,666 Cr in FY26 (+5% YoY) with Order Book strengthening to ~₹5,074 Cr (+11%) as of early Apr’26; momentum building in higher-value Sourcing-as-a-Service engagements in North America 2. R
Slide 10: Management Commentary on Performance - Exe. Vice Chairman
PDS LIMITED Management Commentary on Performance - Exe. Vice Chairman “The period underscores the resilience of our platform and the strength of disciplined execution. Despite external uncertainties and shorter order visibility, we delivered 5% year-on-year growth in GMV and 4% growth in revenues. F
Slide 11: Management Commentary on Performance – Group CEO
PDS LIMITED Management Commentary on Performance – Group CEO “FY26 tested our ability to execute under pressure — and we delivered. We strengthened our order book to ~₹5,074 Cr, up 11%, added new strategic accounts across U.S. retail ecosystems, and reduced investments in new verticals by 27% throug
Slide 12: Performance Snapshot (Q4 FY26)
PDS LIMITED Performance Snapshot (Q4 FY26) ₹ IN CR AND $ IN MN, UNLESS MENTIONED OTHERWISE PAT ATTR. TO EQUITY GMV REVENUE PAT SHAREHOLDERS Q4 FY26 Q4 FY26 Q4 FY26 Q4 FY26 ₹4,905 ₹3,519 ₹72 ₹49 $ 537 $ 386 $8 $5 PAT Margin 2.0% Q4 VS Q3 Q4 VS Q3 Q4 VS Q3 Q4 VS Q3 5% 11% 95% 150% Q4 VS Q4 Q4 VS Q4 Q4
Slide 13: Performance Snapshot & Key Financial Metrics (FY26)
PDS LIMITED Performance Snapshot & Key Financial Metrics (FY26) ₹ IN CR AND $ IN MN, UNLESS MENTIONED OTHERWISE PAT ATTR. TO EQUITY GMV REVENUE PAT SHAREHOLDERS FY26 FY26 FY26 FY26 ₹19,666 5% ₹13,110 4% ₹178 26% ₹112 29%5% $ 2,226 $ 1,484 $ 20 $ 13 PAT Margin 1.4% Net working capital days Net Debt C
Slide 14: Revenue Break-up: Geography & Category (FY26)
PDS LIMITED Revenue Break-up: Geography & Category (FY26) GEOGRAPHY WISE SPLIT CATEGORY WISE SPLIT % Share % Growth % Share % Growth Y-o-Y Y-o-Y 41% 35% 10% Men’s -3% UK 38% Wear 37% 33% Women’s 33% Europe -10% -11% 37% Wear 38% Americas 20% Children 24% 11% 21% 18% Wear 20% Asia & Middle 6% East &
Slide 15: Performance Overview
03 Performance Overview 03/ P R O F I T & LO S S S TAT E M E N T 04/ BALANCE SHEET 05/ S E G M E N TA L P E R F O R M A N C E 06/ C A S H F LO W S TAT E M E N T
Slide 16: Profit and Loss (Consolidated in ₹ Crs)
PDS LIMITED Profit and Loss (CONSOLIDATED IN ₹ CRS) COMMENTARY • GMV increased by 5% in FY26 • Topline grew 10.9% Q-o-Q, driven by strong customer retention, Gross margin impacted by 226 bps • Y-o-Y Gross Margin expanded by 54bps in Q4FY26 & 48bps in FY26 • Employee expenses in FY26 include incremen
Slide 17: Investment in New Verticals & Outlook thereof
PDS LIMITED Investment in New Verticals & Outlook thereof ₹ IN CRS, UNLESS MENTIONED OTHERWISE Losses Down 24% Y-o-Y S. No. Key Focus Area FY26 FY25 Outlook • Design Arc Bandana business discontinued in FY27, curtailing losses Design Led Sourcing 1 23.3 16.9 of ~$1mn; (Stellar Brands, Wonderwall, et
Slide 18: Performance Overview of Top Sourcing Verticals
PDS LIMITED Performance Overview of Top 10 Sourcing Verticals $ IN MN, UNLESS MENTIONED OTHERWISE Over ~71% of Total Topline – Decline in topline ~4%, PBT down by ~21% REVENUE PBT PBT Margin VERTICALS KEY COUNTRY Growth YoY Growth YoY FY26 FY25 FY26 FY25 FY26 FY25 (%) (%) UK 278.7 265.2 5.1% ↑ 13.4
Slide 19: Balance Sheet (Consolidated in ₹ Crs)
PDS LIMITED Balance Sheet (CONSOLIDATED IN ₹ CRS) • Net Debt reduced from ₹374crs as on 31 Mar’25 to ₹105crs as on 31 Mar’26, despite an addition of ₹91crs on account of consolidation of Knit Gallery acquired during the year • NWC Days declined from 17 days in Mar’25 to 4 days in Mar’26 LEVERAGE RAT
Slide 20: Segmental Performance at a Glance FY26
PDS LIMITED Segmental Performance AT A GLANCE 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 Growt
Slide 21: Cash Flow Statement (Consolidated in ₹ Crs)
PDS LIMITED Cash Flow Statement (CONSOLIDATED IN ₹ CRS) Generated Cash Flow of ₹781crs from Operating Activities *FY25 Includes investment in UK Property Note: Cash Flow converted at Balance Sheet rate. 20 INVESTOR UPDATE | Q4 & FY26
Slide 22: Progress Update – Measures Undertaken for Profitability Augmentation
04 Progress Update – Measures Undertaken for Profitability Augmentation 09/ M E A S U R E S U N D E RTA K E N F O R P R O F I TA B I L I T Y A U G M E N TAT I O N 10/ PROJECT PULSE – INSTITUTIONALIZING BCG-LED C O S T T R A N S F O R M AT I O N
Slide 23: Measures Undertaken for Profitability Augmentation (1/4)
PDS LIMITED Measures Undertaken for Profitability Augmentation (1/4) Sr Measures/Initiatives Update Progress Thus Far No Investment Through 1. Adhered to strict financial guardrails on new investments 1 P&L related primarily to 2. Investments reduced from ₹162.5crs to ₹124.2crs (~24% reduction) New
Slide 24: Measures Undertaken for Profitability Augmentation (2/4)
PDS LIMITED Measures Undertaken for Profitability Augmentation (2/4) Sr Measures/Initiatives Update Progress Thus Far No 1. Design Arc restructuring i. Successfully completed with closure of Design Arc Brands and Lilly & Sid ii. Design Arc Asia and Licensing business consolidated into Poeticgem to s
Slide 25: Measures Undertaken for Profitability Augmentation (3/4)
PDS LIMITED Measures Undertaken for Profitability Augmentation (3/4) Sr Measures/Initiatives Update Progress Thus Far No 1. Business performance was impacted by ongoing geopolitical tensions and the US–Iran conflict, resulting in demand slowdown across certain Middle East markets, with select orders
Slide 26: Measures Undertaken for Cashflow/Balance Sheet Augmentation (4/4)
PDS LIMITED Measures Undertaken for Cashflow/Balance Sheet Augmentation (4/4) Sr Measures/Initiatives Update Progress Thus Far No 1 Capex 1. Capex 56% lower than FY25 level Divestment of identified 1. Completed sale of stake in Digital Ecom, entire sale proceeds 2 non-core assets realised 1. Plan un
Slide 27: Project PULSE – Institutionalizing BCG-Led Cost Transformation
PDS LIMITED Project PULSE – Institutionalizing BCG-Led Cost Transformation Project PULSE establishes the digital backbone for procurement excellence — integrating sourcing, supplier governance, contracts, and master data into a single AI- enabled platform designed to enhance control, efficiency, and
Slide 28: Evolving Market Dynamics & PDS Positioning
05 Evolving Market Dynamics & PDS Positioning 11/ G LO B A L A P PA R E L I N D U S T R Y F Y 2 6 : S TA B I L I Z AT I O N A M I D S T R U C T U R A L S H I F T S 12/ FOUR GROWTH VECTORS 13/ US GROWTH TRA JECTORY 14/ D Ü S S E L D O R F D E L E G AT I O N V I S I T: S T R E N GT H E N I N G EU–INDI
Slide 29: Global Apparel Industry FY26: Stabilization Amid Structural Shifts
PDS LIMITED Global Apparel Industry FY26 : Stabilization Amid Structural Shifts GLOBAL APPAREL MARKET SIZE MARKET GROWTH INDUSTRY OUTLOOK CONSUMER SENTIMENT ~$1.9T in CY26 3–4% Stabilisation Cautious Value-led, mix-driven No meaningful rebound Value-seeking consumers; spend remains selective FY26 IN
Slide 30: Four growth vectors
PDS LIMITED Four growth vectors One framework. Four compounding engines. 1 2 3 4 US scale-up India manufacturing FTA tailwinds Margin transformation Cost savings programe– processes Michael Yee platform built. Fashion UK-India + EU-India FTAs materially Knit Gallery platform + UK-India institutional
Slide 31: The US growth trajectory
PDS LIMITED The US growth trajectory Platform built. First wins logged. The ~$50 mn SaaS mandate is the inflection signal. FY23–FY24 FY25 Feb 2026 FY27–FY28 Why this works Four structural reasons the US arc compounds FOUNDATION VALIDATION INFLECTION SCALE Diversified sourcing advantage 1 US tariffs
Slide 32: Düsseldorf Delegation Visit: Strengthening EU–India Ties
PDS LIMITED Düsseldorf Delegation Visit: Strengthening EU–India Ties A delegation from Düsseldorf recently visited our Techno Design, New Delhi office, hosted by Mr. Rajiv Ranjan, reinforcing growing EU–India collaboration. This engagement comes at a pivotal time, with the India–EU Free Trade Agreem
Slide 33: Executing the Group's Vision Through Enterprise-Wide Digital Transformation
PDS LIMITED Executing the Group’s Vision Through Enterprise-Wide Digital Transformation 32 INVESTOR UPDATE | Q4 & FY26
Slide 34: Execution-Focused Transformation Roadmap Across the Enterprise
PDS LIMITED Execution-Focused Transformation Roadmap Across the Enterprise 33 INVESTOR UPDATE | Q4 & FY26
Slide 35: Other Updates
06 Other Updates 16/ PROPOSED DIVIDEND 17/ Q I P U S E O F P R O C E E D - U P DAT E 18/ OT H E R U P DAT E S
Slide 36: Proposed Dividend
PDS LIMITED Proposed Dividend Proposed Payout – 42% 35 INVESTOR UPDATE | Q4 & FY26
Slide 37: QIP Proceeds Utilization – Update
PDS LIMITED QIP Proceeds Utilization – Update 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 consideration payable of $1.8mn (₹16cr) subject to * achievement of
Slide 38: PDS At the Global Fashion Agenda (GFA) Summit 2026
PDS LIMITED PDS At the Global Fashion Agenda (GFA) Summit 2026 PDS Limited, through PDS Ventures, recognized breakthrough fashion technologies at the Global Fashion Agenda Summit 2026. Synflux, led by CEO Kazuya Kawasaki, won the “Tech-Powered Transformation” category for its innovative solutions ad
Slide 39: Building Responsible Futures: Earth Day Celebration at Soham
PDS LIMITED Building Responsible Futures: Earth Day Celebration at Soham World Earth Day at Soham for Kids, Mallapur was marked through hands-on activities that connected students with nature—ranging from sapling plantation to creative sustainability exercises. The initiative made environmental awar
Slide 40: Thank You
THANK C O N TA C T U S PDS LIMITED YOU Unit No.1031 & 1032, Solitaire Corporate Park, Andheri-Ghatkopa r Link Road, Andheri (E), Mumbai-400093, Maharashtra, India CIN: L18101KA2011PLC094125 Tel.: +91-22-41 441 100 Email: investors@pdsltd.com Kanav Khanna | Jeevika Kishnani Ernst and Young LLP Tel: 9