Employees: 10,283
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).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| 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 flow | n/a | ₹6.24B | -₹2.26B | -₹580M | ₹4.14B |
| Capital expenditure | n/a | ₹629M | ₹1.44B | ₹1.67B | ₹593M |
| Total debt | ₹10.9B | ₹12.6B | ₹12.3B | ₹10.5B | ₹7.19B |
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| Measure | PDSL.NS | Peer median | Rank 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 margin | 2.2% | 5.3% | 4th lowest of 21 |
| Forward P/E | 43.4× | 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 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | -0.4 pp | +0.3 pp | 8th lowest of 21 |
| Net debt / EBITDA | 0.1× | 1.2× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PDS PDSL.NS | India | $605M | +35% | +5% | 2% | 43.4× | 14.0% | +16.1% |
| ZheJiang AoKang Shoes 603001.SS | China | $619M | +19% | -31% | -8% | n/a | 23.6% | -6.8% |
| Weyco WEYS | United States | $580M | +79% | +2% | 17% | n/a | -1.2% | +7.2% |
| Campus Activewear CAMPUS.NS | India | $640M | -21% | +14% | 11% | 30.3× | 32.8% | +20.1% |
| AIMER 603511.SS | China | $657M | -28% | -2% | 4% | n/a | -7.2% | -1.6% |
| Onward 8016.T | Japan | $659M | +4% | +7% | 5% | 9.2× | 1.0% | +6.1% |
| Shandong High Speed Renewable Energy 000803.SZ | China | $546M | -27% | +3% | 13% | 22.8× | 5.4% | +33.2% |
| ZheJiang Jasan 603558.SS | China | $545M | -12% | +6% | 17% | 10.3× | n/a | n/a |
| QingDao Kutesmart 300840.SZ | China | $540M | -30% | 0% | 5% | 93.8× | n/a | n/a |
| Gokaldas Exports GOKEX.NS | India | $529M | -6% | +8% | 4% | 20.5× | n/a | n/a |
| World 3612.T | Japan | $701M | -5% | +15% | 6% | 8.4× | -5.1% | +9.5% |
| Harson Trading (China) 603958.SS | China | $511M | -36% | +23% | 3% | n/a | 25.6% | +10.4% |
| Bxn 002154.SZ | China | $740M | -19% | +6% | 7% | 11.2× | -10.3% | +6.5% |
| Nueva Expresion Textil NXT.MC | Spain | $490M | +1% | +55% | 22% | 36.1× | n/a | n/a |
| Shoei Co. Ltd. (7839) 7839.T | Japan | $750M | +29% | +2% | 28% | 17.0× | -8.1% | +10.7% |
| Shanghai Metersbonwe Fashion & Accessories 002269.SZ | China | $482M | -25% | -16% | -54% | n/a | 17.7% | -34.8% |
| Logistea LOGI-B.ST | Sweden | $759M | +6% | +18% | 83% | 12.9× | 14.2% | +40.4% |
| Relaxo Footwears RELAXO.NS | India | $768M | -4% | +2% | 8% | 32.5× | 33.5% | +2.8% |
| Zhejiang Kanglongda Special Protection Technology 603665.SS | China | $476M | -29% | -1% | 3% | n/a | 10.2% | +6.8% |
| Zhejiang Red Dragonfly Footwear 603116.SS | China | $465M | -15% | +1% | -7% | n/a | 4.1% | -4.7% |
| Sunrise Manufacture 605138.SS | China | $457M | -29% | +3% | 5% | 15.2× | n/a | n/a |