Slide 1: Letter to stock exchanges on investor presentation
PDSL/SE/2023-24/299 November 1, 2023 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 -400 051 Mumbai- 400001 Scrip Symbol: PDSL Scr
Slide 2: Investor Update Q2 FY24 | H1 FY24
Investor Q2 FY24 | H1 FY24 Update November 2023
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by PDS Limited (“PDS”, “the Company”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not
Slide 4: Contents
Contents 1 4 Key Highlights and Other Updates Performance Overview 2 Interim Dividend for H1FY24 5 Annexures 3 Industry Outlook & Opportunities PDS@2023 3
Slide 5: Setting the Context
Setting the Context Industry has witnessed demand pressures in the last three quarters along with high interest rates and geo-political unrest in 1 certain geographies 2 Expect demand-led disruptions to bottom out with demand pickup expected in the coming quarters Inspite of challenging times we wer
Slide 6: Key Highlights and Performance Overview
Key Highlights and Performance Overview PDS@2023 5
Slide 7: Financial Snapshot Q2 FY24
Financial Snapshot Q2 FY24 ₹3,698cr ₹2,463cr ($448mn) 16% ($298mn) Consolidated Topline GMV ↑ by c.13% YoY Topline Growth vs Q1F24 by 16% YoY ₹539cr ₹136cr 30% ($65mn) ($17mn) Gross Margin: 21.9% | EBITDA Margin: 5.5% | ROCE ↑496bps YoY ↑141bps YoY (as of 30th September 2023) ₹88cr ₹4.96 ($11mn) (
Slide 8: Financial Snapshot H1 FY24
Financial Snapshot H1 FY24 ₹6,723cr ₹4,578cr ($816mn) ($555mn) 10 days Consolidated Topline GMV ↑ by c.13% YoY Net Working Capital days by 13% YoY ₹935cr ₹204cr ₹178cr ($113mn) ($25mn) ($21mn) Gross Margin: 20.4% | EBITDA Margin: 4.5% | Net Debt ↑394bps YoY ↑80bps YoY (as of 30th September 2023) ₹
Slide 9: Revenue Break-up for H1 FY24
Revenue Break-up for H1 FY24 Category Wise Split Geography Wise Split Men’s Wear Men 's wear 38% Europe 32% Women’s Wear Ladies wear 34% Asia & Middle East 10% Children Wear Children we ar 22% UK 42% Australia 1% Essentials Ess entials 1% Wear North America 12% Others OTHERS Others 4% 3% Note - *Rev
Slide 10: Consolidated Profit & Loss (Quarter)
Consolidated Profit & Loss For the Quarter ended September 23 ₹ in Cr, unless mentioned otherwise Quarter ended Quarter ended Q2 Growth Quarter ended Full Year ended Particulars 30-Sep-23 30-Sep-22 (Y-o-Y) 30-Jun-23 31-Mar-23 Key Highlights Gross Merchandise Value 3,698 3,271 13% 3,025 12,230 1. GMV
Slide 11: Consolidated Profit & Loss (Half Year)
Consolidated Profit & Loss For the Half Year ended September 23 ₹ in Cr, unless mentioned otherwise Half Year ended Half Year ended H1 Growth Full Year ended Particulars 30-Sep-23 30-Sep-22 (Y-o-Y) 31-Mar-23 Key Highlights Gross Merchandise Value 6,723 5,952 13% 12,230 1. GMV increased by 13% Income
Slide 12: Normalised Profit & Margins
Normalised Profit & Margins Adjusted for gain from sale of real estate Quarter ended Quarter ended Growth Quarter ended H1 ended H1 ended Growth ₹ in Cr, unless mentioned otherwise Particulars 30-Sep-23 30-Sep-22 % 30 Jun, 23 30-Sep-23 30-Sep-22 % Gross Merchandise Value 3,698 3,271 13.1% 3,025 6,72
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ in Cr, unless mentioned otherwise As on As on As on As on Particulars Particulars 30-Sep-23 30-Sep-22 30-Sep-23 30-Sep-22 Non-Current Assets 925 822 Calculated basis LTM P&L items Current Assets 2,450 2,488 Inventory Days 18 15 Inventories 406 344 Debtor Days 42 44 Trade
Slide 14: H1 FY24 Performance Across Segments
H1 FY24 Performance Across Segments PDS Ventures and Sourcing Manufacturing Others PDS Consolidated Revenue $539mn | ₹4,443cr $26mn | ₹214cr $0.3mn |₹2.7cr $555mn Y-o-Y Growth % ↓12% + ↓32% + Revenue captured in Other Income = ₹4,578cr EBIT $20mn | ₹165cr $1mn | ₹9cr $21mn |₹173cr (Including other i
Slide 15: Top 10 Business Verticals
Top 10 Business Verticals Key Financials for half year-ended Sep’2023 US$ in mn, unless mentioned otherwise Revenue PBT PBT Margin Verticals Key Country H1 FY24 H1 FY24 H1 FY24 UK 100 7 7.2% UK 73 2 2.3% Top 10 verticals contributing Twins UK 62 4 6.5% c.78% of revenue in H1 FY24 UK (Sri Lanka focus
Slide 16: Consolidated Cash Flow
Consolidated Cash Flow ₹ in Cr, unless mentioned otherwise Half Year ended Half Year ended Half Year ended Half Year ended Particulars (₹ cr) Particulars (₹ cr) 30-Sep-23 30-Sep-22 30-Sep-23 30-Sep-22 A. Cash Flow from Operating Activities C. Cash Flow from Financing Activities Profit before tax 127
Slide 17: Investment in PDS Ventures, Real Estate & others
Investment in PDS Ventures, Real Estate & others % of total PDS gross capital employed Treasury Investments (33%) 6% ₹125cr | $15mn PDS Investment Portfolio ₹380cr | $46mn Real Estate & Others (1) (13%) 20% 3% ₹49cr | $6mn PDS Ventures (54%) 11% ₹205cr | $25mn Note: Excludes HK real estate property
Slide 18: Proposed Interim Dividend
Proposed Interim Dividend PDS@2023 17
Slide 19: Declared Interim Dividend- H1 FY24
Declared Interim Dividend- H1 FY24 In line with PDS’s Dividend Policy H1 FY24 H1 FY23 H1 FY24 H1 FY23 Particulars (₹ Cr) ($ mn) Consolidated Net Profit after Tax 111.8 157.5 13.6 20.0 Less: Profit attributable to Non controlling interest 27.9 26.6 3.4 3.4 Profit Attributable to Equity Shareholders 8
Slide 20: Industry Outlook and Opportunities
Industry Outlook and Opportunities PDS@2023 19
Slide 21: Macro Economic Factors Driving the Industry
Macro Economic Factors Driving the Industry Cost pressures have eased but interest rates and inflation continue to exert pressure on the demand environment Rising Inflation United States Euro Zone United Kingdom India CPI remained steady at 3.7%, indicating that inflation pressures remained stable i
Slide 22: Industry Outlook
Industry Outlook Near term uncertainty, with encouraging signs of recovery in the coming year, predominantly fueled by a resurgence in consumer spending Global apparel market reached a turnover of US$1.6 tn in 2021, a Global textile & apparel trade is expected to reach Global Trends across Major Ec
Slide 23: Disruptions Creating Opportunities across the Value Chain
Disruptions Creating Opportunities across the Value Chain FAR / NEAR SHORING CONSOLIDATION IN THE INDUSTRY ▪ Our versatile global operations allow us to tailor ▪ The industry is currently undergoing a consolidation production to meet the specific needs of retailers and trend, with larger firms poise
Slide 24: PDS Geared to Capitalise on Opportunities
PDS Geared to Capitalise on Opportunities Global Fashion Infrastructure Company with customized solutions to retailers & brands Our Philosophy Process of Value Creation Design-led Sourcing as a Technology Sourcing Service Our Vision Be the most admired global 600+ Compliant partnered Complete Outsou
Slide 25: Other Updates
Other Updates PDS@2023 24
Slide 26: Focusing on Expanding the Portfolio with customized offerings (1/2)
Focusing on Expanding the Portfolio with customized offerings (1/2) Poeticgem acquires “Little Mistress” brand IP ❑ Poeticgem acquired the IP to design, source and distribute Little Mistress brands globally ❑ Mark Ashton, the CEO and Founder of Little Mistress will join Poeticgem Group ❑ Expanding p
Slide 27: Focusing on Expanding the Portfolio with customized offerings (2/2)
Focusing on Expanding the Portfolio with customized offerings (2/2) Customized offering to retailers through in-house & licensed brands Collaboration with F&F Clothing to unveil the For All The Love Autumn collection is now live Oh Me Oh My collection at Tu Clothing PDS@2023 26
Slide 28: PDS Awarded as Strategic Vendor by Kohl's
PDS have been Awarded as Strategic Vendor by KOHL’s Recognizing Commitment, Product Agility, Value, Quality and Innovation PDS@2023 27
Slide 29: Aligning with best in the Industry
Aligning with best in the Industry Leveraging their experience, network and insights Harold Tilman, CBE Mark Green Global Ambassador for PDS PDS US Advisory Board 1. Renowned as a luminary in the British fashion scene 1. Leading professional in Global Supply and Value Chain operations over the past
Slide 30: PDS Group Unveils Sustainability Report 2023
Leading the fashion value chain with our commitment to sustainability PDS GROUP UNVEILS SUSTAINABILITY REPORT 2023 VICE CHAIRMAN Through advanced recycling techniques, reimagined supply chains, and ir business models, our vision extends our own operations. We aspire to col with partners, suppliers,
Slide 31: Winning Accolades & Industry Representation
Winning Accolades & Industry Representation PDS@2023 30
Slide 32: Together we're building a better, more sustainable supply chain
For Further Information, please contact Abhishekh Kanoi Head of Legal & Company Secretary abhishekh.kanoi@pdsltd.com Reenah Joseph Head Corporate Finance & Investor Relations Together we’re building a better, Reenah.Joseph@pdsltd.com more sustainable supply chain PDS Limited (erstwhile PDS Multinati
Slide 33: Annexures
Annexures PDS@2023 Hanes PDS SAAS Setup 32
Slide 34: Standalone Profit & Loss (Quarter)
Standalone Profit & Loss (₹cr | $mn) For the Quarter ended September 23 Quarter ended Quarter ended Q1 Growth Quarter ended Full Year ended Quarter ended Quarter ended Q1 Growth Quarter ended Full Year ended Particulars (₹ cr) Particulars ($mn) 30-Sep-23 30-Sep-22 (Y-o-Y) 30-Jun-23 31-Mar-23 30-Sep-
Slide 35: Standalone Profit & Loss (Half Year)
Standalone Profit & Loss (₹cr | $mn) For the Half-Year ended September 23 Half Year ended Half Year ended H1 Growth Full Year ended Half Year ended Half Year ended H1 Growth Full Year ended Particulars (₹ cr) Particulars ($mn) 30-Sep-23 30-Sep-22 (Y-o-Y) 31-Mar-23 30-Sep-23 30-Sep-22 (Y-o-Y) 31-Mar-
Slide 36: Standalone Balance Sheet
Standalone Balance Sheet (₹cr | $mn) As on As on As on As on Particulars (₹ cr) Particulars ($ mn) 30-Sep-23 30-Jun-23 30-Sep-23 30-Jun-23 Non-Current Assets 212 208 Non-Current Assets 25.6 25.4 Current Assets 192 178 Current Assets 23.2 21.6 Inventories 0 0 Inventories 0.0 0.0 Trade Receivables 103
Slide 37: Consolidated Profit & Loss (Quarter, US$)
Consolidated Profit & Loss For the Quarter ended September 23 Quarter ended Quarter ended Q2 Growth Quarter ended Full Year ended US$ in mn, unless mentioned otherwise Particulars 30-Sep-23 30-Sep-22 (Y-o-Y) 30-Jun-23 31-Mar-23 Gross Merchandise Value 447.6 410.6 9% 367.9 1,521.2 Key Highlights Inco
Slide 38: Consolidated Profit & Loss (Half Year, US$)
Consolidated Profit & Loss For the Half Year ended September 23 Half Year ended Half Year ended H1 Growth Full Year ended US$ in mn, unless mentioned otherwise Particulars 30-Sep-23 30-Sep-22 (Y-o-Y) 31-Mar-23 Gross Merchandise Value 815.5 757.6 8% 1,521.2 Key Highlights Income from Operations 555.3
Slide 39: Normalised Profit & Margins (US$)
Normalised Profit & Margins Adjusted for gain from sale of real estate Quarter ended Quarter ended Growth Quarter ended H1 ended H1 ended Growth US$ in mn, unless mentioned otherwise Particulars 30-Sep-23 30-Sep-22 % 30 Jun, 23 30-Sep-23 30-Sep-22 % Gross Merchandise Value 447.6 410.6 9.0% 367.9 815
Slide 40: Consolidated Balance Sheet (US$)
Consolidated Balance Sheet US$ in mn, unless mentioned otherwise As on As on As on As on Particulars Particulars 30-Sep-23 30-Sep-22 30-Sep-23 30-Sep-22 Non-Current Assets 111.4 101.0 Calculated basis LTM P&L items Current Assets 295.0 305.8 Inventory Days 18 14 Inventories 48.9 42.3 Debtor Days 42
Slide 41: Consolidated Cash Flow (US$)
Consolidated Cash Flow US$ in mn, unless mentioned otherwise Half Year ended Half Year ended Half Year ended Half Year ended Particulars ($ mn) Particulars ($ mn) 30-Sep-23 30-Sep-22 30-Sep-23 30-Sep-22 A. Cash Flow from Operating Activities C. Cash Flow from Financing Activities Profit before tax 1