PDS Limited — Investor Meet, 22-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

PDS Limited reported FY26 GMV of ₹19,666 Cr (+5%) and revenue of ₹13,110 Cr (+4%). Gross margins improved to 20.6% (+48 bps), with Q4 PAT up 95% QoQ to ₹72 Cr. Net debt sharply reduced to ₹105 Cr, supported by ₹781 Cr in operating cash flow. The order book grew 11% to ₹5,074 Cr, with North America up 30%. Management targets 40-50 bps annual gross margin improvement and mid-single-digit revenue growth for FY27, aiming for profitability restoration and mid-teens long-term growth. Strategic focus includes high-value sourcing-as-a-service, efficiency via Project PULSE, and rationalizing loss-making ventures like the challenged New Lobster brand business. The near-term outlook is cautious but positive on core business strength.