PDS Limited has announced a strategic sourcing mandate from a leading US value retailer, marking a significant milestone in the company's international expansion. The Sourcing as a Service (SaaS) contract is expected to drive sourcing volumes of approximately ₹450 crore (~$50 million), with potential for gradual scaling.

Deal Structure and Execution

The engagement will be executed through PDS subsidiary GSCL under the leadership of Michael Yee, who has been onboarded onto the PDS platform over the past year. The partnership establishes PDS as a key sourcing partner for a prominent US value retail chain that serves both urban and rural markets with everyday essentials including consumables, apparel, home products, and seasonal merchandise.

Strategic Significance

The contract represents a meaningful step in PDS's strategy to strengthen its presence in key markets through on-ground leadership and execution capabilities. Michael Yee will lead PDS's efforts to scale its US business, focusing on deepening customer engagement and strengthening the company's strategic inroads into the US market.

Management Commentary

Pallak Seth, Executive Vice Chairman, commented: "In an environment marked by macroeconomic uncertainty and evolving consumer demand, securing this partnership reflects the resilience of the PDS platform and the strength of our global ecosystem. Our widespread sourcing network, deep relationships, and ability to deliver agile solutions continue to position us as a partner of choice for leading global retailers."

Sanjay Jain, Group CEO, added: "Our continued investments in cost transformation, digital capabilities, and AI-led initiatives have strengthened our sourcing platform and enhanced our value proposition. This partnership is a testament to the robustness of our operating model and our ability to deliver scalable, efficient, and innovative solutions."

Company Profile

PDS Limited operates as a global fashion infrastructure platform, handling over $2.20 billion of Gross Merchandise Value. The company maintains a vast global network covering over 90 offices in 22 countries, with over 4,500 employees and 6,000 factory associates worldwide. The company reported consolidated revenues of ₹12,578 crore in FY25.

PDS Limited has submitted its quarterly compliance certificate to stock exchanges, fulfilling regulatory requirements under SEBI's depositories regulations. The filing demonstrates the company's commitment to maintaining transparency and regulatory compliance in securities market operations.

Regulatory Compliance Filing

The company filed its certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made on April 6, 2026, to both the National Stock Exchange of India Limited and BSE Limited.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The registrar issued the compliance certificate confirming adherence to regulatory requirements during the quarter.

The certificate confirms that securities received from depository participants for dematerialization during the quarter were properly processed. All securities comprised in the certificates have been listed on stock exchanges where the company's previously issued securities are traded.

Dematerialization Process Compliance

The registrar confirmed several key compliance aspects:

• Securities received for dematerialization were confirmed or rejected within prescribed timelines
• Security certificates received were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners
• All processes followed regulatory guidelines and timelines

Corporate Information

The filing was signed by Abhishekh Kanoi, Group Legal Head & Company Secretary, demonstrating proper corporate governance procedures. This quarterly compliance certificate represents part of PDS Limited's ongoing regulatory obligations as a publicly listed company, ensuring transparency in securities handling and depository operations.