PDS Reports Record Quarterly Revenue of ₹4,432 Crore in Q2 FY27
Revenue rises 28.7% quarter-on-quarter, while PAT increases 144.4%
PDS Limited, a global supply chain solutions company serving international brands and retailers, reported its consolidated financial results for the second quarter and first half of FY2026-27. The company recorded its highest-ever quarterly revenue of ₹4,432 crore in Q2 FY27.
PDS provides services across product development, sourcing, manufacturing and brand management. During the quarter, the company reported strong growth in revenue and profitability, alongside improved margins.
Q2 FY27 Financial Performance
PDS reported revenue from operations of ₹4,432 crore, marking a 28.7% increase compared with Q1 FY27 and 29.6% growth year-on-year.
EBITDA rose 59.3% quarter-on-quarter to ₹153 crore. The EBITDA margin improved to 3.5%, an increase of 66 basis points from the previous quarter.
Profit after tax (PAT) reached ₹70 crore, up 144.4% compared with Q1 FY27. The PAT margin stood at 1.6%.
H1 FY27 Performance
For the first half of FY27, PDS reported consolidated revenue of ₹7,876 crore, representing 22.7% growth compared with the same period last year.
EBITDA increased 62.3% year-on-year to ₹249 crore, while the EBITDA margin improved by 77 basis points to 3.2%. PAT rose 43.8% to ₹98 crore, with a margin of 1.3%.
The company also strengthened its balance sheet and working capital position. It achieved a net cash positive position of ₹154 crore and improved net working capital days to -5 days. In addition, PDS declared an interim dividend of ₹2.20 per share, up 33% compared with the previous year.
Management Commentary
Commenting on the results, Pallak Seth, Executive Vice Chairman 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”
The results reflect PDS’s focus on revenue growth, margin improvement and financial discipline. The company is also progressing with its digital and AI transformation roadmap, while working to improve the performance of newer investments and strengthen its portfolio.
