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PDS Limited
(PDSL)
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Rating:62Neutral
Price Target:
₹353.00
▲(0.33% Upside)
Action:Reiterated
Date:08/11/26
The score is held back primarily by weakening profitability (margin and ROE compression) and uneven cash-flow consistency, despite strong revenue growth and a stable/improving leverage profile. Technicals are supportive with a clear uptrend and positive momentum, but the high P/E and low dividend yield reduce the valuation score and cap the overall rating.
Positive Factors
Strong Revenue Growth
Revenue growth of 31.3% in 2026 and 21.3% in 2025 demonstrates strong top-line momentum and expanding business activity. Sustained growth would strengthen PDS’s scale across fashion solutions and supply-chain services, although the pack does not show that it has yet translated into stronger margins.
Negative Factors
Margin Compression
The sustained decline in gross margin and the very low 2026 net margin indicate that revenue growth is producing less profit than in earlier years. Continued margin pressure would reduce earnings quality, limit operating leverage, and make future profitability more sensitive to costs and pricing conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Revenue growth of 31.3% in 2026 and 21.3% in 2025 demonstrates strong top-line momentum and expanding business activity. Sustained growth would strengthen PDS’s scale across fashion solutions and supply-chain services, although the pack does not show that it has yet translated into stronger margins.
Read all positive factors
PDS Limited (PDSL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹48.99B
Dividend Yield0.95%
Average Volume (3M)16.51K
Price to Earnings (P/E)41.3
Beta (1Y)1.20
Revenue Growth4.62%
EPS Growth-23.31%
CountryIN
Employees10,147
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)8.33
Shares Outstanding141,479,190
10 Day Avg. Volume28,231
30 Day Avg. Volume16,506
Financial Highlights & Ratios
PEG Ratio-1.07
Price to Book (P/B)2.09
Price to Sales (P/S)0.28
P/FCF Ratio6.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)9.3
Revenue Forecast (FY)₹145.24B
PDS Limited Business Overview & Revenue Model
Company Description
PDS Limited, along with its subsidiaries, operates as a global entity involved in the entire value chain of ready-to-wear clothing and a variety of consumer products, from initial design and development to sourcing, manufacturing, marketing, and d...
PDS Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 135.54B | 131.10B | 125.78B | 103.73B | 105.77B | 88.28B |
| Gross Profit | 17.06B | 12.54B | 12.01B | 10.31B | 17.71B | 13.86B |
| EBITDA | 4.87B | 3.87B | 5.06B | 4.33B | 5.26B | 4.20B |
| Net Income | 1.18B | 1.12B | 1.57B | 1.44B | 2.65B | 2.48B |
Balance Sheet | ||||||
| Total Assets | 52.71B | 52.66B | 47.38B | 40.62B | 31.09B | 33.98B |
| Cash, Cash Equivalents and Short-Term Investments | 10.65B | 10.36B | 7.75B | 6.98B | 8.69B | 5.49B |
| Total Debt | 10.94B | 12.64B | 12.32B | 10.54B | 7.19B | 7.41B |
| Total Liabilities | -18.59B | 34.07B | 30.22B | 28.16B | 19.96B | 24.62B |
| Stockholders Equity | 18.59B | 17.64B | 16.50B | 11.66B | 10.54B | 8.72B |
Cash Flow | ||||||
| Free Cash Flow | 5.66B | 5.97B | -1.28B | 229.77M | 4.51B | 3.58B |
| Operating Cash Flow | 5.93B | 6.60B | -365.52M | 1.90B | 5.10B | 4.03B |
| Investing Cash Flow | -816.81M | -497.36M | -2.58B | -3.14B | -1.37B | -2.28B |
| Financing Cash Flow | -3.01B | -3.62B | 4.03B | -384.75M | -3.37B | -264.92M |
PDS Limited Technical Analysis
Positive
351.85
Price Trends
349.33
Negative
350.75
Negative
326.77
Positive
Market Momentum
-3.90
Negative
53.64
Neutral
54.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PDSL, the sentiment is Positive. The current price of 351.85 is above the 20-day moving average (MA) of 338.80, above the 50-day MA of 349.33, and above the 200-day MA of 326.77, indicating a neutral trend. The MACD of -3.90 indicates Negative momentum. The RSI at 53.64 is Neutral, neither overbought nor oversold. The STOCH value of 54.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PDSL.
PDS Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹90.21B | 12.79 | ― | 1.14% | 31.81% | 24.89% | |
67 Neutral | ₹33.59B | 11.64 | ― | 2.48% | 1.71% | -21.43% | |
62 Neutral | ₹48.99B | 41.32 | ― | 0.95% | 4.62% | -23.31% | |
57 Neutral | ₹3.40B | 10.82 | ― | 7.84% | 1.83% | -27.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹4.36B | 3.88 | ― | 0.62% | 24.30% | ― |
* General Sector Average
IN:PDSL
PDS Limited
346.30
-19.00
-5.20%
IN:BLS
BLS International Services Ltd.
219.10
-95.69
-30.40%
IN:CMSINFO
CMS Info Systems Ltd.
209.85
-159.99
-43.26%
IN:RADIANTCMS
Radiant Cash Management Services Limited
31.86
-17.70
-35.72%
IN:REPRO
Repro India Limited
304.10
-215.70
-41.50%
IN:SECURCRED
SecUR Credentials Ltd.
1.63
0.00
0.00%
PDS Limited Corporate Events
PDS Limited Issues New Shares Under Employee Stock Option Plan
Oct 20, 2026
PDS Limited has allotted 18,750 equity shares with a face value of ₹2 each to employees of the company and its subsidiaries who exercised options under the PDS Limited – Employee Stock Option Plan 2021 – Plan A. The move modestly...
PDS Limited Completes Exit From DBS Lifestyle and Related Associates
Sep 21, 2026
PDS Limited has completed the sale of its remaining 49% stake in DBS Lifestyle India Private Limited, following an earlier share purchase agreement with the Suri family and DBS Lifestyle. The transaction marks a further step in the company’s...
PDS Limited Publishes 2026 Sustainability Report ‘Responsible by Design’
Sep 3, 2026
PDS Limited has released its PDS Group Sustainability Report 2026, titled “Responsible by Design,” outlining the group’s approach and performance on environmental, social and governance priorities across its global operations. Th...
PDS Limited Board Clears Unaudited Q1 FY27 Results After Limited Review
Aug 7, 2026
PDS Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on August 7, 2026. The results, prepared under Ind AS 34 and reviewed by the statutory audi...
PDS Limited Schedules Q1 FY27 Earnings Call With Senior Management
Aug 5, 2026
PDS Limited operates in the apparel and fashion industry, providing design, sourcing, manufacturing and supply chain solutions to global brands and retailers. Listed on the National Stock Exchange of India and BSE, the company focuses on end-to-en...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.