India's PDS Limited delivers robust FY25 growth with $1.51 bn revenue

Meanwhile the gross merchandise value (GMV) stood at ₹18,744 crore (~$2.19 billion), up 25 per cent YoY, and gross profit grew 20 per cent to ₹2,531 crore, with a slight dip in gross margin to 20.1 per cent. EBITDA rose 17 per cent to ₹457 crore, and profit after tax (PAT) increased by 19 per cent YoY to ₹241 crore.

Despite the overall growth, there was a minor YoY contraction in EBITDA and PAT margins, down 14 and 3 basis points (bps) respectively in FY25.

The UK-India free trade agreement (FTA) has opened new avenues for manufacturing and strategic sourcing, while US tariff developments were effectively managed through strategic negotiations, PDS Limited said in a press release.

In the fourth quarter (Q4) of FY25, the company’s GMV rose by 14 per cent quarter-over-quarter (QoQ) to ₹5,007 crore (~$584.6 million), while revenue from operations increased by 13 per cent QoQ to ₹3,526 crore. The gross profit increased by 10 per cent to ₹701 crore, though gross margin declined slightly by 51 bps to 19.9 per cent. EBITDA surged 46 per cent QoQ to ₹139 crore, improving the EBITDA margin to 4 per cent from 3.1 per cent and the profit after tax (PAT) rose sharply by 76 per cent to ₹75 crore, with PAT margin increasing by 76 bps to 2.1 per cent.

In Q4 FY25, the company continued its growth momentum, clocking a GMV of ₹5,007 crore, up 14 per cent QoQ. The consolidated revenue rose 13 per cent QoQ to ₹3,526 crore, while PAT surged 76 per cent to ₹75 crore.

“FY25 has been a year of strong, broad-based growth for PDS, with GMV reaching $2.2 billion—a 25 per cent YoY increase. Growth was visible across all geographies, with the Americas leading at 39 per cent, reflecting the strength of our global platform. Our strong order book of over $600 million in early April, up 14 per cent from last year, gives us confidence in the year ahead. Supported by Boston Consulting Group (BCG), we have initiated a series of cost optimisation and transformation initiatives that are expected to deliver tangible results and further enhance operational efficiency,” said Sanjay Jain, chief executive officer (CEO) at PDS Limited.

“The industry is at an inflection point, marked by two key developments that have the potential to shape its future. At PDS, we have responded to the evolving global landscape with agility and foresight—enhancing our sourcing capabilities, driving operational efficiencies, and positioning ourselves ahead of the curve. Recent shifts, such as the US tariff adjustments and the advancement of the UK-India FTA, are well-timed catalysts that support our strategic vision and unlock new opportunities for sustainable growth,” said Pallak Seth, executive vice chairman of PDS Limited.

ALCHEMPro News Desk (SG)