PDS Q2 FY27 Results: Consolidated Net Profit ₹69.87 Crore on Total Income of ₹4,443 Crore
- Earnings
- Textiles and apparel sourcing
Reviewed byRachit TripathiBlacklitt Research
PDS (NSE: PDSL) reported consolidated total income of ₹4,442.84 crore and net profit of ₹69.87 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income for the quarter was ₹93.88 crore and standalone net profit was ₹28.93 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹4,442.84 crore, up 28.9% YoY and 28.7% QoQ
- Net profit and EPS: ₹69.87 crore, up 44.2% YoY; basic EPS ₹3.01 against ₹2.13
- Finance costs: ₹40.58 crore, down 4.9% YoY and up 9.3% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹93.88 crore, up 34.0% YoY and 116.9% QoQ
- Net profit and EPS: ₹28.93 crore against ₹0.66 crore a year earlier; basic EPS ₹2.05
- Other income: ₹32.54 crore, against ₹4.72 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,442.84 | 3,446.20 | +28.9% | 3,453.18 | +28.7% | |
| Revenue from operations | 4,432.48 | 3,419.17 | +29.6% | 3,443.72 | +28.7% |
| Other income | 10.36 | 27.02 | -61.7% | 9.46 | +9.5% |
| 69.87 | 48.44 | +44.2% | 28.59 | +144.4% | |
| Profit before tax | 83.90 | 55.93 | +50.0% | 34.29 | +144.7% |
| Finance costs | 40.58 | 42.68 | -4.9% | 37.14 | +9.3% |
| Depreciation | 40.30 | 32.65 | +23.4% | 36.08 | +11.7% |
| Tax expense | 14.03 | 7.49 | +87.4% | 5.70 | +146.2% |
| Net profit margin | 1.57% | 1.41% | +0.17 pp | 0.83% | +0.74 pp |
| EPS, basic (₹) | 3.01 | 2.13 | +41.3% | 1.33 | +126.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income, but most of the gap is not explained by the filing. Consolidated net profit rose 44.2% to ₹69.87 crore while total income rose 28.9%, and profit before tax rose 50.0% to ₹83.90 crore. Revenue from operations of ₹4,432.48 crore grew 29.6%, while other income fell 61.7% to ₹10.36 crore.
Finance costs of ₹40.58 crore are 0.9% of total income this quarter, down from ₹42.68 crore a year earlier. Depreciation rose 23.4% to ₹40.30 crore. Tax expense rose 87.4% to ₹14.03 crore, which is 16.7% of profit before tax.
Net profit attributable to owners of the company is ₹42.39 crore, against ₹69.87 crore before minority interests. The gap of ₹27.48 crore is the share attributable to non-controlling interests. The statement's unit is lakh in the filing, and the consolidated figures include a share of profit of associates and joint ventures of ₹1.29 crore.
The auditors issued an unmodified review report on the consolidated results. Their report notes that 82 subsidiaries were not reviewed by the auditors, with total revenues of ₹4,009.93 crore for the six months; the company's segments are Sourcing, Manufacturing and Others.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 93.88 | 70.07 | +34.0% | 43.28 | +116.9% | |
| Revenue from operations | 61.35 | 65.35 | -6.1% | 39.58 | +55.0% |
| Other income | 32.54 | 4.72 | +589.2% | 3.69 | +780.8% |
| 28.93 | 0.66 | n/a | 1.19 | n/a | |
| Profit before tax | 29.42 | 0.95 | n/a | 1.61 | n/a |
| Finance costs | 1.11 | 1.81 | -38.9% | 1.18 | -6.2% |
| Depreciation | 2.05 | 1.62 | +26.2% | 1.97 | +3.9% |
| Tax expense | 0.50 | 0.30 | +66.5% | 0.42 | +18.7% |
| Net profit margin | 30.81% | 0.93% | +29.88 pp | 2.76% | +28.05 pp |
| EPS, basic (₹) | 2.05 | 0.05 | n/a | 0.08 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 34.0% to ₹93.88 crore, but the mix changed. Revenue from operations fell 6.1% to ₹61.35 crore, while other income rose to ₹32.54 crore from ₹4.72 crore, which is 34.7% of total income and 110.6% of profit before tax of ₹29.42 crore.
Standalone net profit reached ₹28.93 crore from ₹0.66 crore a year earlier, and profit before tax reached ₹29.42 crore from ₹0.95 crore. Finance costs fell 38.9% to ₹1.11 crore, and tax expense of ₹0.50 crore is 1.7% of profit before tax. The filing's cash flow statement shows dividend income of ₹27.49 crore for the half year, which is an adjustment in that statement.
The filing does not say why standalone revenue from operations fell or why other income rose, and it does not give the reason for the large rise in consolidated net profit.
Inference
The board declared an interim dividend of ₹2.20 per equity share of face value ₹2 for financial year 2026-27, with a record date of 11 Nov 2026. The filing does not state the total payout in rupees.
He gave personal commitments as the reason and confirmed no other material reasons. The filing does not say who will replace him on the Board or the Audit Committee.
The filing does not explain the drivers of the consolidated profit rise or the fall in standalone revenue from operations.
Filed with BSE on . Reference: Original filing (PDF)
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