Indian apparel and supply chain solutions provider PDS Limited has reported a strong revenue and GMV performance in the first quarter of FY26, even as profitability metrics declined due to macroeconomic headwinds.
For Q1 FY26, consolidated revenue rose 14% year-on-year (YoY) to ₹2,999 crore (~$329.89 million), while gross merchandise value (GMV) jumped 19% quarter-on-quarter (QoQ) to ₹4,634 crore (~$509.74 million)—highlighting continued global demand across its diversified client base.
Gross profit stood at ₹582 crore, up 7% from the previous quarter. However, EBITDA declined by 31% to ₹51 crore, and profit after tax (PAT) dropped 36% to ₹20 crore, compared to ₹31 crore in Q4 FY25.
Despite these declines, the company emphasized its commitment to long-term value creation through an asset-light, demand-responsive model, ongoing strategic restructuring, and cost optimization initiatives.
“While Q1 FY26 reflects a dip in profitability owing to macroeconomic headwinds, we remain firmly on track to deliver on our long-term growth vision,” said Pallak Seth, Executive Vice Chairman of PDS Limited. “Our model continues to support scalable growth across global markets. The recent India–UK FTA is a game-changer, especially given our strong presence in Europe and the UK. However, the uncertain US tariff landscape remains a concern that needs resolution.”
PDS continues to provide end-to-end services including product development, sourcing, manufacturing, and brand management for leading global fashion retailers and brands.
Sanjay Jain, Group CEO, added: “PDS is undergoing a transformation to become a leaner, more agile organization. Our cost optimization programmes are already showing early signs of success. We’ve consolidated teams, improved execution agility, and are actively reallocating capital to high-potential verticals. With strong fundamentals and disciplined execution, we are well-positioned for sustainable, future-ready growth.”
The company reiterated its focus on driving operational efficiency, streamlining underperforming segments, and strengthening its position in core markets as it navigates evolving global retail dynamics.
