PDS Ltd (NSE:PDSL)

Q3 2026 PDS Ltd Earnings Call Transcript

Feb 11, 2026 / 10:30 AM GMT

Release Date Price: ₹330.4 (-3.49%)

Transcript

Key Points

Positve

PDS Ltd (BOM:538730) reported a 7% year-on-year growth in GMV for the nine-month period, reflecting steady throughput across its platform.
The company's manufacturing segment is showing strong growth momentum, supported by the integration of Knit Gallery and operational improvements.
Gross margin expanded by 36 basis points year over year in Q3, driven by procurement efficiencies and a better mix.
PDS Ltd has successfully reduced its net debt significantly from 374 crores in March 2025 to around 70 crores as of December 2025.
The company is well-positioned to benefit from recent tariff developments, with a strong presence in both India and Bangladesh, enhancing its competitiveness in global apparel sourcing.

Negative

The global apparel environment remains volatile, with restrained consumer demand across the US and Europe impacting growth.
PDS Ltd's top-line growth was impacted by challenges with Matalan and Gerry Weber, which affected overall performance.
Employee expenses increased by 9% year over year in Q3 FY26, partly due to the Knit Gallery acquisition.
The company faces challenges with shorter order visibility and tight inventory control from retailers.
Despite efforts, the order book growth has slowed to 6-7%, reflecting cautious customer sentiment and market uncertainties.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PDSL.NS - PDS Ltd
Q3 2026 PDS Ltd Earnings Call
Feb 11, 2026 / 10:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the PDS Limited Q3 FY26 earnings conference call.

As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during this conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Ms. Shirley Rodericks from PDS Limited for the opening remarks.

Thank you and over to you, ma'am.

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Unidentified_2 [2]
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