India’s PDS Ltd reports strong GMV growth, EBITDA down 31% in Q1 FY26

The gross profit for the quarter reached ₹582 crore, up 7 per cent from the previous quarter. Despite the top-line growth, profitability saw a dip. EBITDA declined 31 per cent to ₹51 crore, while profit after tax (PAT) fell 36 per cent to ₹20 crore in Q1 FY26, compared to ₹31 crore in Q4 FY25.

India’s PDS Limited has reported a 14 per cent YoY rise in Q1 FY26 revenue to ₹2,999 crore (~$329.89 million), with GMV up 19 per cent QoQ.
Despite growth, EBITDA fell 31 per cent and PAT declined 36 per cent.
The company remains focused on operational efficiency and long-term growth, supported by an asset-light model, strategic restructuring, and promising cost optimisation measures.

PDS continues to support global brands and retailers with product development, sourcing, manufacturing, and brand management services. The company remains focused on driving operational efficiencies and long-term strategic growth, even as it navigates profitability challenges in a dynamic global retail environment, it said in a press release.

“While Q1 FY26 reflects a dip in profitability owing to macroeconomic headwinds, we remain firmly on track to deliver on our long-term growth vision. PDS’s asset-light, demand-responsive model continues to enable scalable solutions across key global markets. The recent India-UK FTA marks a pivotal step toward enhanced trade flows and deeper partnerships, especially given our strong presence in Europe and the UK,” said Pallak Seth, executive vice chairman at PDS Limited. “At the same time, the US tariff landscape remains uncertain and requires stabilization to provide greater visibility. As the macro environment stabilizes and our verticals mature, we remain confident in achieving our vision.”

“PDS is undergoing a transformation for building a leaner, more agile organisation focused on long-term value creation. Our cost optimisation programmes are already showing promising early signals, reinforcing our commitment to operational excellence and profitability,” said Sanjay Jain, group CEO. “We have consolidated teams and enhanced execution agility across the platform. As we streamline underperforming verticals and reallocate capital toward high-potential areas, we remain committed to our guidance. With strong fundamentals, disciplined execution and improved cost structure, we are well positioned for sustained, future-ready growth.”

Fibre2Fashion News Desk (SG)