PDS Ltd

₹ 316 -2.93%
27 Jan - close price
About

PDS Ltd is engaged in trading of garments, investment holding, design, development, marketing, sourcing and distribution of readymade garments of all kinds and other consumer products worldwide.[1]

Key Points

Sourcing Segment (~96% of revenues) [1]
The company offers various leading brands and retailers a wide range of products, sourced from its 550+ partner factories across various countries. Its products include apparel, accessories, footwear, and home products. It has a capacity of ~1 million pieces of garments per day from its partners.
It also has a team of 150+ designers from cities like London, Hong Kong, New York, Barcelona, Shanghai, etc. to track the latest trends in the fashion industry. [2] [3] [4]

  • Market Cap 4,133 Cr.
  • Current Price 316
  • High / Low 415 / 280
  • Stock P/E 39.1
  • Book Value 12.2
  • Dividend Yield 1.51 %
  • ROCE 37.5 %
  • ROE 37.3 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 162% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%
  • Company has been maintaining a healthy dividend payout of 61.6%

Cons

  • Stock is trading at 25.9 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.96.2 Cr.
  • Debtor days have increased from 44.9 to 89.6 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
11 11 5 10 16 15 14 34 35 33 40 97 126
9 9 4 7 14 12 12 28 31 32 36 92 116
Operating Profit 1 2 1 2 2 2 2 6 4 1 5 5 10
OPM % 14% 21% 20% 24% 15% 17% 14% 18% 10% 2% 12% 5% 8%
0 -0 1 0 1 40 1 0 1 60 2 2 33
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 1 1 1 1 2 42 2 5 4 60 6 5 41
Tax % 199% 35% 27% 25% 25% 1% 25% 23% 29% 1% 24% 24% 5%
Net Profit -1 1 1 1 2 42 1 4 2 59 4 4 38
EPS in Rs -0.05 0.06 0.06 0.07 0.12 3.19 0.09 0.32 0.19 4.53 0.32 0.31 2.94
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
0 2 5 7 25 13 18 39 41 46 116 297
0 2 4 8 24 12 16 35 33 37 103 276
Operating Profit -0 0 1 -1 1 2 2 4 8 9 13 21
OPM % 13% 16% -15% 5% 11% 12% 11% 19% 19% 11% 7%
0 0 0 0 -0 0 7 1 1 42 62 96
Interest 0 0 0 0 0 0 2 2 2 2 1 1
Depreciation 0 0 2 1 1 1 2 3 3 3 3 5
Profit before tax -0 0 -1 -2 -0 1 4 1 4 46 70 111
Tax % 0% 31% 31% 8% 135% 32% 14% -65% 36% 3% 5%
Net Profit -0 0 -1 -2 0 1 4 1 3 45 67 106
EPS in Rs -0.33 3.67 -31.67 -0.14 0.01 0.04 0.29 0.08 0.21 3.43 5.13 8.10
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 92% 93%
Compounded Sales Growth
10 Years: %
5 Years: 54%
3 Years: 43%
TTM: 204%
Compounded Profit Growth
10 Years: 141%
5 Years: 162%
3 Years: 294%
TTM: 114%
Stock Price CAGR
10 Years: %
5 Years: 37%
3 Years: 71%
1 Year: -7%
Return on Equity
10 Years: 12%
5 Years: 19%
3 Years: 27%
Last Year: 37%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
0 0 0 26 26 26 26 26 26 26 26 26
Reserves -0 0 79 77 77 77 81 82 85 130 176 134
0 1 4 12 23 25 21 18 15 11 12 16
0 0 28 4 7 14 13 22 20 26 43 109
Total Liabilities 0 1 111 119 132 142 142 148 146 193 256 284
0 1 5 4 4 29 38 37 36 36 36 40
CWIP 0 0 2 11 23 9 0 0 0 0 0 0
Investments 0 0 100 100 100 100 101 102 101 101 122 135
0 1 3 4 5 5 2 9 10 56 99 109
Total Assets 0 1 111 119 132 142 142 148 146 193 256 284

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 -0 2 -1 3 12 6 11 4 9 13
0 -1 -110 -8 -13 -11 -4 -4 -0 43 3
0 1 108 9 10 2 -6 -5 -5 -9 -43
Net Cash Flow 0 0 0 0 -0 3 -3 2 -0 43 -26

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 93 0 57 0 0 1 9 7 38 90
Inventory Days 0 0 0 0
Days Payable
Cash Conversion Cycle 93 0 57 0 0 1 9 7 38 90
Working Capital Days 95 -73 -95 -98 -354 -219 -169 -121 -101 -7
ROCE % 35% -3% -2% 0% 1% 5% 2% 5% 33% 38%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
66.65 66.65 66.65 66.65 66.65 66.65 66.65 66.65 66.65 66.52 66.52 66.37
4.09 4.08 4.08 3.51 3.58 3.70 3.69 3.80 3.79 3.84 3.69 3.58
0.59 0.60 0.59 0.59 0.56 0.55 0.56 0.60 0.60 0.59 0.59 0.59
28.67 28.68 28.68 29.25 29.21 29.10 29.11 28.94 28.94 29.03 29.17 29.38
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.02 0.07

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls