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PDS Limited Q1 FY26 earnings call summary

NSE: PDSL · BSE: 538730

Earnings call of 1 Aug 2025, summarised by AI from the filing.

PDS Q1 FY26 revenue ₹2,999 cr, up 14%, but gross margin fell to 19.4%; mid-teens FY26 growth guided with H2 margin recovery.

Key takeaways

  1. Guidance Mid-teens revenue growth for FY26; H1 margin pressure, H2 recovery expected.
  2. Change Gross margin declined 139 bps to 19.4% on mix shift from high-margin customers.
  3. Driver U.K. FTA and U.S. sourcing realignment; Primark sales up 23%, Next up 46%, Tesco up 20%.
  4. Risk Gross margin pressure to continue in FY26, particularly in H1.

Original filing on BSE

PDS Limited Q1 FY27 results

As filed: Revenue ₹3,444 cr (+15% year on year), EBITDA ₹96.1 cr (+88% year on year), PAT ₹28.6 cr (+43% year on year), EBITDA margin 2.8% (+109 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹3,519 cr (0% year on year), EBITDA ₹122 cr (−13% year on year), PAT ₹72.1 cr (−4% year on year), EBITDA margin 3.5% (−50 bps). Score 18 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 50 bps year on year. Other income 36% of PBT. Tax rate 8%. Consolidated profit -4% but standalone +82%. Share price after the results: +9.1% in 28 days (Nifty 500: +0.3%).
  • Q3 FY26: Revenue ₹3,172 cr (+2% year on year), EBITDA ₹109 cr (+14% year on year), PAT ₹37.1 cr (−12% year on year), EBITDA margin 3.5% (+38 bps). Score 46 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin rose 38 bps year on year. Revenue fell 7% from last quarter. Share price after the results: −16.2% in 30 days (Nifty 500: −7.8%).
  • Q2 FY26: Revenue ₹3,419 cr (+3% year on year), EBITDA ₹104 cr (−30% year on year), PAT ₹48.0 cr (−48% year on year), EBITDA margin 3.0% (−143 bps). Score 14 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 143 bps year on year. Other income 49% of PBT. Tax rate 13%. Share price after the results: +11.2% in 30 days (Nifty 500: +0.5%).
  • Q1 FY26: Revenue ₹2,999 cr (+14% year on year), EBITDA ₹51.0 cr (−30% year on year), PAT ₹20.0 cr (−35% year on year), EBITDA margin 1.7% (−108 bps). Score 27 of 100, Below trend. Revenue growth was in line with the company's own trend; EBITDA growth was well below it; profit growth was below it. EBITDA margin fell 108 bps year on year. Other income 148% of PBT. Revenue fell 15% from last quarter. Share price after the results: −8.8% in 29 days (Nifty 500: −2.0%).
  • Q4 FY25: Revenue ₹3,526 cr (+10% year on year), EBITDA ₹140 cr (+24% year on year), PAT ₹75.0 cr (+15% year on year), EBITDA margin 4.0% (+46 bps). Score 46 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin rose 46 bps year on year. Tax rate 11%. Consolidated profit +15% but standalone -63%. Revenue rose ₹311 cr on a year ago, against ₹473 cr the year before. Share price after the results: −5.8% in 29 days (Nifty 500: +0.5%).
  • Q3 FY25: Revenue ₹3,125 cr (+21% year on year), EBITDA ₹96.0 cr (+30% year on year), PAT ₹42.0 cr (+62% year on year), EBITDA margin 3.1% (+20 bps). Score 61 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 20 bps year on year. Tax rate 8%. Consolidated profit +62% but standalone -80%. Revenue fell 5% from last quarter.
  • Q2 FY25: Revenue ₹3,306 cr (+34% year on year), EBITDA ₹148 cr (+8% year on year), PAT ₹93.0 cr (+6% year on year), EBITDA margin 4.5% (−109 bps). Score 47 of 100, In line with trend. EBITDA margin fell 109 bps year on year. Tax rate 8%. Consolidated profit +6% but standalone -50%. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

PDS Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.