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PDS LimitedPDSL.NSCompetitor analysis, valuation and peers

India · INR·Consumer & Retail›Apparel/Footwear
Momentum leader 91
Mkt cap
$605M
US dollars, full cap
Free float
23%
of shares outstanding
$/day
$3.54M
20-day average traded
Fwd P/E
43.4×
forward earnings
ROIC−WACC
-0.4 pp
WACC 12.0%
Hurdle
-2 pp
Req g minus delivered
Next earnings
100 days
14 Feb 2027
Close · INR₹403.90
1D+0.5%
1W+22.1%
1M+18.1%
3M+12.8%
6M+34.5%
YTD+8.2%
1Y+9.7%
ATR %4.7%
Beta1.33
52w lowhigh4.4% off high

What PDS does

Employees: 10,283

PDS at a glance

Size PDS (PDSL.NS) is an India Consumer Discretionary company (Apparel/Footwear) with a market value of $605M, the 776th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹403.90 on 6 Nov 2026.

Performance Over six months the shares gained 34.5%, against -13.3% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue grew 4.6% over the last twelve months (peer median +2.7%); the operating margin is 2.2% (peer median 5.3%).

Valuation It trades at 43.4× forward earnings against a peer median of 17.0× (2nd most expensive of 14).

Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -2 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 0.4 points below its cost of capital (12.0% WACC).

Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).

Relative performance

8010012011 May 202611 Aug 20266 Nov 2026PDSL.NS 134Peer median 84
Six months, rebased to 100: PDS against the median of its 20 peers (local-currency closes).

PDS financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹136B₹131B₹126B₹104B₹106B
Revenue growth—+4%+21%-2%—
Gross profit₹13.3B₹12.4B₹12.0B₹10.3B₹9.24B
EBITDA₹4.31B₹4.13B₹4.98B₹4.23B₹4.88B
Net income₹1.18B₹1.12B₹1.57B₹1.44B₹2.65B
Free cash flown/a₹6.24B-₹2.26B-₹580M₹4.14B
Capital expendituren/a₹629M₹1.44B₹1.67B₹593M
Total debt₹10.9B₹12.6B₹12.3B₹10.5B₹7.19B

Quarterly statements and history in the cockpit →

PDS competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-20%0%+20%603001WEYSCAMPUS6035118016000803603558GOKEX3612603958002154NXT7839002269LOGI-BRELAXO603665603116605138PDSL.NS6-month return →1-month return →
Up and to the right = strong over both horizons. PDS is the large dot.

Fundamentals: revenue growth against valuation

0%+20%+40%25×50×75×100×CAMPUS8016000803603558300840GOKEX3612NXT7839LOGI-BRELAXOPDSL.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. PDS is the large dot.

Capital: growth delivered against growth the price implies

-40%-20%0%+20%+40%-25%0%25%603001WEYSCAMPUS60351180160008033612603958002154002269LOGI-BRELAXO603665603116PDSL.NSGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. PDS is the large dot.

PDS competitors and peer comparison

How PDS compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

PDS against its 20 peers (data as of 6 Nov 2026)
MeasurePDSL.NSPeer medianRank in peer set
1-month return+18.1%-9.1%2nd highest of 21
6-month return+34.5%-13.3%2nd highest of 21
Distance from 52-week high-4.4%-29.7%2nd highest of 21
Revenue growth (TTM)+4.6%+2.7%10th highest of 21
Operating margin2.2%5.3%4th lowest of 21
Forward P/E43.4×17.0×2nd most expensive of 14
Growth the price implies (Req g, 7 yrs)14.0%5.4%7th most demanding of 16
Growth delivered (Del g)+16.1%+6.8%4th highest of 16
Hurdle (Req g minus delivered)-2.1 pp-5.2 pp8th most demanding of 16
ROIC minus cost of capital-0.4 pp+0.3 pp8th lowest of 21
Net debt / EBITDA0.1×1.2×4th least indebted of 9

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
PDS PDSL.NSIndia$605M+35%+5%2%43.4×14.0%+16.1%
ZheJiang AoKang Shoes 603001.SSChina$619M+19%-31%-8%n/a23.6%-6.8%
Weyco WEYSUnited States$580M+79%+2%17%n/a-1.2%+7.2%
Campus Activewear CAMPUS.NSIndia$640M-21%+14%11%30.3×32.8%+20.1%
AIMER 603511.SSChina$657M-28%-2%4%n/a-7.2%-1.6%
Onward 8016.TJapan$659M+4%+7%5%9.2×1.0%+6.1%
Shandong High Speed Renewable Energy 000803.SZChina$546M-27%+3%13%22.8×5.4%+33.2%
ZheJiang Jasan 603558.SSChina$545M-12%+6%17%10.3×n/an/a
QingDao Kutesmart 300840.SZChina$540M-30%0%5%93.8×n/an/a
Gokaldas Exports GOKEX.NSIndia$529M-6%+8%4%20.5×n/an/a
World 3612.TJapan$701M-5%+15%6%8.4×-5.1%+9.5%
Harson Trading (China) 603958.SSChina$511M-36%+23%3%n/a25.6%+10.4%
Bxn 002154.SZChina$740M-19%+6%7%11.2×-10.3%+6.5%
Nueva Expresion Textil NXT.MCSpain$490M+1%+55%22%36.1×n/an/a
Shoei Co. Ltd. (7839) 7839.TJapan$750M+29%+2%28%17.0×-8.1%+10.7%
Shanghai Metersbonwe Fashion & Accessories 002269.SZChina$482M-25%-16%-54%n/a17.7%-34.8%
Logistea LOGI-B.STSweden$759M+6%+18%83%12.9×14.2%+40.4%
Relaxo Footwears RELAXO.NSIndia$768M-4%+2%8%32.5×33.5%+2.8%
Zhejiang Kanglongda Special Protection Technology 603665.SSChina$476M-29%-1%3%n/a10.2%+6.8%
Zhejiang Red Dragonfly Footwear 603116.SSChina$465M-15%+1%-7%n/a4.1%-4.7%
Sunrise Manufacture 605138.SSChina$457M-29%+3%5%15.2×n/an/a

Questions

Which companies are PDS's closest peers?
The cockpit's peer set: ZheJiang AoKang Shoes (603001.SS), Weyco (WEYS), Campus Activewear (CAMPUS.NS), AIMER (603511.SS), Onward (8016.T), Shandong High Speed Renewable Energy (000803.SZ), ZheJiang Jasan (603558.SS), QingDao Kutesmart (300840.SZ).
Is PDS expensive compared with its peers?
On forward p/e it trades at 43.4× against a peer median of 17.0×, 2nd most expensive of 14 in its peer set. For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -2 pp: the price already allows for a slowdown.
How has PDS stock performed?
Over six months to 6 Nov 2026 the shares returned +34.5% against -13.3% for the median peer; over one year +9.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.