PDS Multinational Fashions Limited, well-known design-led platform offering product development sourcing, virtual manufacturing and supply chain platforms, has generated less revenue in FY21 compared to last year; however, its profit has grown well.
The Bengaluru-based company reported revenue of Rs. 6,213 crore for the full year ended 31 March 2021 as compared to Rs. 6,648 crore in FY20.
Its PAT (profit after tax) was Rs. 148 crore in FY21, which noticed a growth of 83 per cent as against Rs. 81 crore in FY20. The PAT margin doubled to 2.4 per cent versus 1.2 per cent in FY20.
In a statement, the company said that its topline was of Rs. 1,765 crore in Q4, FY21, recording a growth of 9 per cent versus Q3, FY21.
Deepak Seth, Chairman of the company commented, “Last year posed quite a lot of challenges due to the unprecedented impact of COVID on the business and life in general. However, I am extremely proud that the entire PDS team, despite facing rough waters, has come out stronger. As we move ahead in our journey of growth and profitability, I strongly believe we are well placed to distribute steady-state dividends to our shareholders.”
Sanjay Jain, Group CEO, PDS Multinational Fashions Limited said, “Despite disruptions of COVID, we have managed to protect our topline and expand margins and profitability. While the UK and Europe, one of our key geographies, faced a prolonged period of lockdown, we have witnessed good traction whenever lockdown was lifted in these markets. Now with the rollout of the vaccination and opening up of stores, we believe the growth in these markets will be restored. Further, we are proactively and cautiously making inroads into new geographies including the US, South Africa, Australia, amongst others. PDS has on-boarded senior business heads to drive business in new geographies, categories and customers.”
The company caters to about 200+ leading retail and e-commerce brands like Zara, Walmart, Amazon, Mango, Top Shop, Jack Wills, Superdry and Myntra. It operates a vast global network covering over 50 offices, 22 countries, and over 3,000 associates and 5,000 associates & factory workers worldwide.