With the business growing, Indian companies’ topline is also increasing and they are crossing the landmark of US $ 1 billion.
Now, PDS Ltd., one of the world’s largest design-led platforms offering product development sourcing, virtual manufacturing and supply chain platforms, has crossed US $ 1 billion in topline.
The company has announced its Q4, FY22 and FY22 results. For FY22, the topline of the company was Rs. 8,828 crore, at a growth of 42 per cent Y-o-Y.
Notably, Profit After Tax (PAT) grew by 97 per cent to Rs. 293 crore.
The total income of the company was Rs. 2,796.77 crore in Q4, FY22 compared to Rs. 1,774.78 crore in Q4, FY21. For FY22, the same was Rs. 8,914.24 crore compared to Rs. 6,250.26 crore in FY21.
In a statement, the company said that the manufacturing segment reported a growth of 92 per cent with a topline to Rs. 547 crore versus Rs. 285 crore in the last financial year. The initiatives to fill capacities and drive efficiencies translated into losses after tax declining by 80 per cent in the financial year.
Further, in the fourth quarter ended 31 March 2022, this segment reported profit after tax margins of 2.7 per cent. The continued focus on higher efficiencies and disciplined execution would result in full-year profitability achievement in FY2022-23.
Pallak Seth, Vice Chairman of the company, commented “This year we have witnessed long-term association with leading brands and retailers offering them “Sourcing as a Service” for exclusive territories including Hanes Brands in Bangladesh and S.Oliver in India. Further, we are also witnessing sourcing opportunities that are unfolding with retailers and brands increasingly seeking to partner with integrated supply chain players like PDS. Given these opportunities, we are actively exploring avenues for expanding and strengthening our footprint in key geographies like Egypt, Vietnam, Jordan and India which benefit from nearshoring and China+1 opportunities respectively.”
Sanjay Jain, Group CEO, added “This financial year has been an exciting year for us. Despite the disruptions that have impacted the industry and value chain, we achieved high growth of 42 per cent compared to last year and reported a 38 per cent return on capital employed.”
He also said “In Q4 FY22, our manufacturing operations turned around and going forward this segment is expected to contribute to the bottom line. Our stringent review and control mechanisms have enabled us to operate with negative working capital days, while also achieving negative net debt. However, there are macro and geopolitical events that have a bearing on our operations, and we as an organisation are focused on treading the journey cautiously with our eye on sustaining our growth and profitability momentum.”
PDS operates a vast global network covering over 50 offices, across 22 countries, over 3,300 employees and over 5,800 factory staff and associates worldwide.
