PDS Reports Record Quarterly Revenue of ₹4,432 Crore in Q2 FY27, PAT Rises 144% QoQ
Revenue grows 28.7% quarter-on-quarter, EBITDA increases 59.3%, and the company achieves a net cash-positive position of ₹154 crore.
PDS Limited, a global supply chain solutions company providing product development, sourcing, manufacturing and brand management services to international brands and retailers, reported its consolidated financial results for Q2 FY2026-27. The company recorded its highest-ever quarterly revenue of ₹4,432 crore, marking a 28.7% increase over Q1 FY27 and 29.6% growth compared with Q2 FY26.
Q2 FY27 Financial Performance
PDS reported EBITDA of ₹153 crore in Q2 FY27, up 59.3% from ₹96 crore in the previous quarter and 48.7% compared with ₹103 crore in Q2 FY26. The EBITDA margin improved to 3.5%, representing an increase of 66 basis points quarter-on-quarter and 44 basis points year-on-year.
Profit After Tax (PAT) reached ₹70 crore, registering growth of 144.4% over Q1 FY27 and 44.2% compared with the corresponding quarter of the previous year. The PAT margin stood at 1.6%.
Particulars | Q2 FY27 | Q1 FY27 | QoQ Growth | Q2 FY26 | YoY Growth |
|---|---|---|---|---|---|
Revenue from Operations (₹ crore) | 4,432 | 3,444 | 28.7% | 3,419 | 29.6% |
EBITDA (₹ crore) | 153 | 96 | 59.3% | 103 | 48.7% |
EBITDA Margin | 3.5% | 2.8% | 66 bps | 3.0% | 44 bps |
PAT (₹ crore) | 70 | 29 | 144.4% | 48 | 44.2% |
PAT Margin | 1.6% | 0.8% | 75 bps | 1.4% | 16 bps |
H1 FY27 Performance
For the first half of FY27, PDS reported consolidated revenue of ₹7,876 crore, up 22.7% from ₹6,419 crore in H1 FY26.
EBITDA increased 62.3% year-on-year to ₹249 crore, compared with ₹154 crore in the corresponding period last year. The EBITDA margin improved by 77 basis points to 3.2%, from 2.4%.
PAT rose 43.8% to ₹98 crore, compared with ₹68 crore in H1 FY26. The PAT margin increased to 1.3% from 1.1%.
Other key developments during the first half included:
- Net cash position: The company strengthened its balance sheet to achieve a net cash-positive position of ₹154 crore.
- Working capital: Net working capital days improved to -5 days.
- Interim dividend: PDS declared an interim dividend of ₹2.20 per share, an increase of 33% compared with the previous year.
Management Commentary
Pallak Seth, Executive Vice Chairman of PDS, said:
“Q2 FY27 marks a defining quarter for PDS, with our highest-ever quarterly revenue delivered alongside margin expansion. H1 reflects broad-based double-digit growth across categories, with North America up ~44% as our strategic initiatives gain traction. Our growth model is built on landing new customers and expanding our wallet share with them over time, by deepening engagement across more categories, geographies and services. Backed by our diversified, multi-country network and end-to-end capabilities, we are well placed to meet evolving customer needs and expand our service offerings. This positions PDS to capitalize on emerging opportunities while sustaining profitable growth and creating long-term value.”
Group CEO Sanjay Jain commented:
“Q2 FY27 marks another step in strengthening the financial foundation of PDS. Disciplined cash management and tighter working capital controls have moved us to a net cash positive position of ₹154crs, with net working capital improving to -5 days. We are making steady progress in taking our newer investments towards profitability, and portfolio rationalization is on track. In parallel, we have begun executing our digital and AI transformation roadmap, which will redefine how we operate across the value chain. These initiatives are expected to lift productivity, enhance operating leverage and optimize capital allocation, strengthening our ability to deliver sustainable, profitable growth over the long term”