PDS Limited, a global fashion infrastructure company, reported gross merchandise value (GMV) of Rs. 4,905 crore (US $510 million), up 5% quarter-on-quarter, while revenue from operations increased 11% Q-o-Q to Rs. 3,519 crore (US $366 million) from Rs. 3,172 crore (US $330 million) in Q3 FY ’26.
EBITDA stood at Rs. 122 crore (US $12.71 million), registering a 12% sequential growth, with EBITDA margin improving marginally to 3.5%.
As per its financial results, Profit after tax (PAT) nearly doubled to Rs. 72 crore (US $7.50 million) from Rs. 37 crore (US $3.85 million) in the previous quarter, while PAT margin improved to 2% from 1.2%.
For the full financial year FY ’26, PDS reported gross merchandise value (GMV) of Rs. 19,666 crore (US $2.04 billion), marking a 5% year-on-year increase, while consolidated revenue from operations rose 4% to Rs. 13,110 crore (US $1.36 billion) compared to Rs. 12,578 crore (US $1.31 billion) in FY ’25.
The results showed that the Gross margin for the year improved by 48 basis points to 20.6%. However, annual PAT declined 26% to Rs. 178 crore (US $18.54 million) from Rs. 241 crore (US $25.11 million) in the previous year, with PAT margin standing at 1.4% against 1.9% in FY ’25.
“FY ’26 was a challenging year marked by heightened global uncertainties from evolving US tariff actions and geopolitical conflicts creating persistent trade and supply chain disruptions all of which weighed on consumer sentiment and demand visibility. Against this backdrop, PDS demonstrated the resilience of its platform by delivering stable growth, supported by deep customer relationships and disciplined execution through our diversified sourcing network. We continued to strengthen our US presence and secured a new SaaS mandate with a new value customer having a potential to scale over US $50 million, alongside deeper engagement with existing customers,” said Pallak Seth, Executive Vice Chairman.
The company, which offers product development, sourcing, manufacturing, and distribution for brands and retailers said its order book stood at Rs. 5,074 crore (US $528 million) in early April 2026, up 11% year-on-year.
It is engaged in the trading of garments, investment holding, design, development, marketing, sourcing and distribution of ready-made garments of all kinds and other consumer products.
The sourcing segment provides in-house product development, design, sampling, and manufacturing through third party factories along with supply chain management to brands and retailers.
The Company operates three manufacturing facilities located in Bangladesh and Sri Lanka. It also invests in start-ups, focused on innovation in the fashion value chain and sustainable solutions, from concept to delivery.
Bharat Tex Special Report 2026 
