PDS releases the annual report for the fiscal year 2022-2023

The company has reported a topline of Rs 10,577 crore with a gross margin of 16.7 per cent.

PDS announced its financial result for the fiscal year 2022-23. The company has reported a topline of Rs 10,577 crore with a gross margin of 16.7 per cent. PDS has a worldwide presence with 60+ offices across 22 countries and caters to 250+ fashion brands and retailers.

PDS has invested towards higher resource efficiency which has led to 80 per cent less water usage and reduced CO₂ emissions by approximately 30 per cent. They are also stringent towards their sustainability goals and achieved unprecedented insights into the environmental footprint and transparency throughout the supply chain.

PDS has signed a licensing agreement with Authentic Brands Group (ABG) for Forever 21. In addition, the company has gained majority ownership in DBS Lifestyle, a design and sourcing business in India, as well as SunnyUp, a licensing business located in the UK. The Bangladesh facility of PDS has recently launched a wash plant, which was financed by the Good Fashion Fund. Furthermore, PDS has commissioned a cutting-edge fabric cutting plant at its subsidiary Norlanka Manufacturing Colombo in Sri Lanka. The India and Sri Lanka operations of PDS have been acknowledged as Great Places to Work. Lastly, PDS has successfully implemented a green energy installation of 70,500 kWh.