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Textiles company PDS announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Gross Merchandise value increased by 19% to Rs 4,526 crore
- Consolidated topline of Rs 3,215 crore increased by 25%
- EBITDA of Rs 124 crore increased by 66% with EBITDA margin increase from 2.9% to 3.8%
- Normalised EBITDA is Rs 157 crore translating into a margin of 5.1% vs 4.2% (post investment in growth)
- PAT increased by 157% to Rs 65 crore with 2.0% margins vs 1% in the previous quarter
FY24 Financial Highlights:
- Gross Merchandise value increased YoY by 25% to Rs 15,048 crore
- SAAS business delivering 240% growth in the FY24
- Consolidated topline of Rs 10,373 crore with gross margins of 20.4%, expansion of 360bps
- EBITDA of Rs 402 crore with EBITDA margin of 3.9%
- Normalised EBITDA is Rs 502 crore translating into a margin of 5.0% vs 4.7% last year (post investment in growth)
- Investment in growth and capability expansion is ~Rs 100 crore
- PAT amounted to Rs 203 crore with 2.0% margins
- Declared dividend of Rs 3.15 per share
Speaking on the developments during the year, Pallak Seth, Executive Vice Chairman, said, “In light of the current year’s performance, we perceive it as merely a transient phase in PDS's continuous evolution. The disruptions being witnessed in the fashion landscape are unveiling numerous promising prospects, prompting us to expand our talent pool and capabilities to seize these opportunities. We are fortified with confidence in our capacity to harness strategic advantages within the global fashion value chain. Our paramount goal remains consistent: to position ourselves as the foremost and innovative solutions provider throughout the fashion value chain.”
Sanjay Jain, Group CEO, shared insights, stating, "As we reflect on our performance for both Q4FY24 and the fiscal year as a whole, it's evident that our journey has been marked by challenges amidst an environment of tepid demand. However, we are encouraged by the uptick in growth witnessed during the final quarter of the year. Looking ahead, our focus is squarely set on maximizing returns from the strategic investments made, with a keen emphasis on fostering synergies across our operations. We remain dedicated to unlocking the full potential of the PDS platform and leveraging synergies to drive sustainable growth in the years to come."
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