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PDS Multinational posts 83% rise in PAT for 2020-21

May 31, 2021
PDS Multinational posts 83% rise in PAT for 2020-21

Bengaluru, Karnataka

PDS Multinational Fashions Ltd, a leading global plug and play design-led platform, has reported 83% growth in profit after tax (PAT) in 2020-21. PDS offers product development, sourcing, virtual manufacturing and supply chain platforms catering to leading brands and retailers, globally.

In terms of the company’s fourth-quarter results, it reported a top line of Rs 17.65 billion in Q4 FY21, recording a growth of 9% vs Q3 FY21. EBITDA increased by 27% from Rs 760 million in Q3FY21 to Rs 970 million in Q4 FY21. Profit before tax increased by 31% to Rs 810 million in Q4 FY21 vs Q3 FY21.

For the full year ended March 31, 2021, the company’s revenue from operations stood at Rs 62.13 billion as compared to Rs 66.48 billion in FY20. The PAT (Profit After Tax) saw an 83% growth to Rs 1.48 billion for FY21 as against Rs 0.81 billion in FY20. The PAT margin doubled to 2.4% vs 1.2% in FY20.

PDS’ Earnings per share (EPS) for the year ended FY21 stood at Rs 32.37 and the company has declared a dividend of Rs 15.75 per share translating into 49% pay-out based on EPS, subject to shareholders approval.

Deepak Seth, Chairman, PDS stated that the previous year posed quite a lot of challenges due to the unprecedented impact of COVID on the business and life in general but he was extremely proud that the entire PDS team has faced the rough waters and has come out stronger. He also said that, as the company moves ahead in their journey of growth and profitability, he strongly believes that they are well placed to distribute steady-state dividends to their shareholders.

Pallak Seth, Vice Chairman, PDS commented that, PDS Multinational has built an integrated global tech-enabled platform through which retailers, brands, and entrepreneurs can leverage and derive scale and agility and that they are focussed on maintaining the growth momentum and are constantly evaluating opportunities of expanding their business to new categories, and new geographies thereby enhancing value for the stakeholders.

Commenting on the results, Sanjay Jain, Group CEO, PDS said that, PDS has created a resilient business model with robust control and monitoring mechanisms and despite disruptions of COVID, they have managed to protect their top line and expand margins and profitability. While the UK and Europe, one of the key geographies, faced a prolonged period of lockdown, they have witnessed good traction whenever lockdown was lifted in these markets. Now with the rollout of the vaccination and opening up of stores, they believe that the growth in these markets will be restored and the company is proactively and cautiously making inroads into new geographies including the US, South Africa, Australia amongst others. He added that, PDS has on-boarded senior business heads to drive business in new geographies, categories, and customers.

PDS has created an asset-light business model supported by strong financials and a highly experienced leadership team. The company has successfully demonstrated robust growth, profitability and returns on capital employed for its sourcing business. PDS' focus for the next 12-18 months is strengthening its capabilities in manufacturing facilities by driving higher orders, cross leveraging group business and increasing efficiencies.

Sustainability including compliance and ethics is one of PDS' key building blocks. It has a keen focus on promoting sustainable materials, low-impact manufacturing and investing in a sharing circular economy. In line with this, PDS has announced the acquisition of a 50% stake in Yellow Octopus, a leading company providing commercial sustainability solutions to the fashion industry. Yellow Octopus in association with marquee global retailers and brands is focused on transforming the fashion industry from a Linear to Circular Economy Model.

PDS platform is well poised to consolidate and strengthen its position in the global landscape.

Source – PDS Multinational Fashions Press Release

Image Source: PDS Multinational Website

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