PDS announces Q2 & H1 FY24 results
Revenue at Rs 2,463 crore and gross margins at 21.9 per cent, expansion of 496bps.
PDS, the global fashion solutions and Infrastructure Company offering customized solutions to global brands and retailers across services like product development, sourcing, manufacturing, and brand management, announced its result for the quarter and half year ended September 30, 2023.
Commenting on the business updates Pallak Seth, Executive Vice Chairman, said, “At PDS, we are strategically positioned to capitalize on disruptions in the fashion value chain, driving higher wallet share and margins, ultimately enhancing the quality of our earnings. The external environment is challenging which is presenting us a good opportunity to actively explore prospects through our tailored Sourcing as a Service and Brand Management services, with a focus on fostering sustained growth through long-term partnerships. Furthermore, we anticipate more opportunities emerging as brands show a growing inclination to partner with comprehensive supply chain partners like PDS.”
Speaking on the Company’s performance and outlook, Sanjay Jain, Group Chief Executive Officer said, “Despite a challenging economic and geopolitical landscape this past year, PDS has steadfastly concentrated on fortifying our sourcing, manufacturing, and brand management capabilities, along with a better service mix of high margin services such as brand management contributing more to the top line. Through strategic initiatives, enhanced processes, and operational efficiency, we continue to achieve profitability. Looking ahead, we are optimistic about the the resurgence of demand in the second half of this year, and continue prudent expenditure, ensuring both stability and growth momentum.