PDS Multinational Fashions Ltd Reported H1 FY22 Revenue of 3,821cr INR (with 35% growth) and PAT of 126cr INR (growth of 6.2x)
MUMBAI, India, Nov. 10, 2021 /PRNewswire/ — 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 Q2 & H1 FY22.
Key performance highlights (Q2 FY22 vs Q2 FY21) (Consolidated):
- Revenues from operations stood at 2,195 crores INR as compared to 1,856 crores INR in Q2 FY21; y-o-y growth of 18%
- Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) was 84 crores INR (3.8%) vs 35 crore INR (1.9%) in Q2 FY21
- Reported EBIT of 78 crores INR against 29 crores INR in Q2 FY21 (growth of 168%)
- Profit After Tax (PAT) of 67 crore INR vs 18 crore INR in Q2 FY21. The Company’s PAT margin expanded to 3.0% vs 1.0% in Q2 FY21
- Basic Earnings per share (EPS) during Q2 FY22 stood at 19.83 INR
- The Company clocked ROCE’s of 30% and ROE’s of 34% in Q2 FY221
Key performance highlights (H1 FY22 vs H1 FY21) (Consolidated):
- Revenues from operations stood at 3,821 crores INR as compared to 2,822 crores in H1 FY21; y-o-y growth of 35%
- EBITDA margin stood at 3.1% vs 2.0% in H1 FY21
- Reported EBIT of 144 crores INR against 46 crores INR in H1 FY21 (growth of 214%)
- PAT stood at 126 crore INR vs 20 crore INR in H1 FY21. The Company’s PAT margin expanded to 3.3% vs 0.7% in H1 FY21
- Basic EPS during H1 FY22 stood at 40.52 INR (vs full year FY21 EPS of 32.37 INR)
1 ROCE based on Net Capital Employed and on TTM figures; EBIT includes other income emanating from capital employed
Mr. Pallak Seth, Vice Chairman, PDS Multinational Fashions Limited commented “Being a truly global enterprise, we persistently endeavour to further strengthen the platform. As a step in this direction, we are also pleased to welcome Mr. Mungo Park and Mr. Robert Sinclair on the Board of Directors; who bring along decades of global experience, enriching the PDS platform. Moreover, PDS is consciously working towards circularity. We are happy to announce that PDS is now a member of the Sustainability Apparel Coalition (SAC), a global, multi-stakeholder non-profit alliance for the fashion industry.”
Commenting on the results, Mr. Sanjay Jain, Group CEO, PDS Multinational Fashions Limited said, “We are truly excited to have reported our strongest quarterly performance in the last 5 years with a topline of 2,195 crores INR. In line with our strategy to expand beyond the predominant markets of UK and Europe, we have deepened our presence in the North American markets with H1 FY22 achieving ~90% of full year FY21 sales.”
“PDS is leveraging its robust platform to propel into the next growth phase. On one hand, we are strategizing the way forward through unlocking potential in untapped geographies & categories, building teams, collaborating with marquee customers, increasing wallet share of existing customers and strengthens the vendor network. On the other hand, we are transforming from being just a “fashion” company to a truly digital platform providing ESG compliant end-to-end solutions with sustainability at its core,” Mr. Jain further added.
Moreover, PDS continues to broaden its reach to major markets by strengthening the vendor network in strategic locations such as Vietnam; which provides integrated solution and Turkey, that benefits from shorter lead times. Additionally, in Sri Lanka, PDS through its subsidiary entered into a strategic exclusive partnership with two manufacturing facilities for the production of baby and kidswear; catering to markets in North America and Europe.
PDS has recently launched an organic kidswear brand in India, Turtledove London, a responsibly created stylish unisex clothes for children, in a digital first format in association with Firstcry.com and turtledovelondon.co.in
About PDS Multinational Fashions Ltd: (www.pdsmultinational.com)
PDS Multinational Fashions Limited operates an integrated design-led platform offering product development, sourcing, virtual manufacturing, and distribution for major brands and retailers worldwide. The Company operates a vast global network covering over 50 offices, 22 countries, and over 3,000 associates and 5,000 associates & factory workers worldwide.
The Company reported consolidated revenues of 6,213cr INR in fiscal 2020-21, an increase of 1.3x over the last five years. Further, Profit after tax has increased at a 5-year CAGR of 40%, with a ROCE of 22% in 2020-21. Notwithstanding the business disruptions caused due to COVID pandemic, the Company is taking steps to minimize the impact and ensuring the safety and well-being of its employees, business partners, and communities.
The Company is listed on the BSE Ltd. (538730) and the National Stock Exchange of India Ltd (PDSMFL).
Certain statements that are made in the Press Release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. PDS Multinational Fashions Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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