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

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

PDS Multinational Fashions Ltd, a leading global plug and play design-led platform announced its financial results for the fourth quarter and full-year ended March 31, 2021, reporting 83% growth in Profit After Tax.

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

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/elgi-equipments-posts-all-round-performance-in-q4-fy21

https://indiantextilejournal.com/latest-textile-industry-news/raymond-reports-rs-560-million-net-profits-for-q4fy21

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