PDS LIMITED — Investor Presentation 2021

Feb 12, 2021

PDS Multinational Fashions Limited

PDS/SE/2020-21 /53

February 12, 2021

The Secretary	The Secretary
BSE Limited	National Stock Exchange of India Limited
Pheeroze Jeejeebhoy Towers	Exchange Plaza, 5th Floor Plot No- 'C Block, G
Dalal Street, Fort	Block Bandra-Kurla Complex, Sandra {East)
Mumbai - 400 001, Maharashtra (India)	Mumbai 400 051, Maharashtra (India)
Scrip Code: 538730 (BSE)	Scrip Code: PDSMFL (NSE)

Sub: Investors' Presentation of PDS Multinational Fashions Limited for the announcement of the Financial Results for the Quarter and Nine Months Ended December 31, 2020

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investors' Presentation of PDS Multinational Fashions Limited for the announcement of the Financial Results for the Quarter and Nine Months Ended December 31, 2020.

The same will also be available on the website of the Company at www.pdsmultinational.com.

You are requested to kindly take the same on records for the purpose of dissemination of the same to the shareholders of the Company.

Thanking you,

Yours faithfully, for PDS Multinational Fashions Limited

Abhi�1 Kanoi Head of Legal & Company Secretary ICSI Membership No.: F-9530

Encl.: a/a

Investor Presentation & Q3FY21 Investor Update

D AT E : 1 2 T H F E B R U A R Y 2 0 2 1

Safe Harbour

This presentation has been prepared by PDS Multinational Fashions Ltd ("PDS", "the Company") and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer.

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements", including those relating to the general business plans and strategy of PDS, its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', 'horizons of growth', 'strong growth prospects', etc., or similar expressions or variations of such expressions. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. PDS Multinational Fashions Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

PDS may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner

Table of Contents

1	Company Overview	4-12
2	Overview of Global Textile & Apparel Industry and Addressable Market for PDS	13-17
3	Deep Dive into Business Verticals of PDS	18-24
3	5-year Historical Financial Performance Overview	25-28
4	Business & Financial Performance Overview	29-35
6	Value Creation and Way Forward for PDS	36-39
7	Annexure	40-42

Company Overview

PDS Multinational Fashions Ltd - At a Glance

PDS Multinational Fashions Limited ("the Company"), one of the world's largest design-led sourcing, manufacturing & supply chain platforms catering to leading brands and retailers globally

Strong Financials and Risk Management Capabilities

Design Led Sustainable and Responsible Sourcing

Compliant and Transparent Supply Chain

What do we do?

Key Milestones Over The Last 2 Decades Brick by Brick Building a Global Footprint

PDS Business Model Evolution From Single Entity to a Collaborative Model

Platform Optimization With Clearly Defined Roles

Building a Winning Culture- Levers of Influence

PDS – Risk Management Principles

CREDIT

• Secured Credit Payment terms from Customers

• Insurance cover Euler Hermes, Atradius, ECIC Hkg, ECGC India

• Regular monitoring of receivables and aged debtors

• Adopt global best practices to reduce costs or bring savings

• Review OPEX continuously and micro-managing the costs

• Continuous review 20+ Financial Controllers (CPA / CA)

CUSTOMER DEPENDENCY

• No Single Customer having more than 15% of Group's revenue
• Top 20 customers contribute to only 70% of the total revenue
• 190 customers (Brands, Hypermarkets, High street retailers)

COMPLIANCE

• Adherence to PDS code of conduct (ZTV policy) and customer compliance requirements • ZERO tolerance on unauthorised sub-contracting • In house 40 member team managing compliance • Buy & Sell in same currency • If Buy & Sell in different currency immediate forex cover to be taken • Periodic review & forward cover for the local currency COST CURRENCY • Budget turnover only based on compliant capacity & annual review COMPLIANT CAPACITY 6 C's 1 2 3 5 4 6

of factory audit status

expenses

• 400+ active Vendors globally

A rigorous application has led to successful management of financial position

Sustainable Business Built Over 2 Decades

Supplier Consolidation

Retailers are increasingly looking at Strategic relationships with reliable and consistent suppliers to meet constant evolving demand

Design Excellence

150 designers based out of customer location and developing new styles every month backed by reliable sourcing

Sustainability

Promote usage of Sustainable Material in line with Industry Best Practices and Investing in Sharing Economy

Global Footprint

Right Product, Right Country, Right Factory – Design, Sourcing and Manufacturing

Financial Stability Availability of working capital lines and debt free company

Strong Ethics & Compliance

Industry experts leading 40 member team to maintain Social, Technical and Ethical Compliance standards across 200 factories

Key to Long Term Success of PDS Multinational Fashions

Overview of Global Textile & Apparel Industry and Addressable Market for PDS

Industry Overview

Overall market size	1.The global textiles and apparel industry market had a retail market value of $1.9 trillion in 20192.As per Boston Consulting Group projected by to reach $3.3 trillion in 2030, growing at a CAGR of 3.5%3.The growth of the global apparel market is expected to remain moderately strong, owing to increasing disposable income inmiddle-class people globally to shorten the fashion cycles along with increasing influence of social media, micro-influencersand fashion icons
Geographic and CategorySplit	1.The three world regions with the largest apparel markets are:a)28 member states of the European Union (Size: $476 bn; CAGR 2021-2025: 5.2%)b)United States (Size: $368 bn; CAGR 2021-2025: 7.1%)c)China (Size: $321 bn; CAGR 2021-2025: 8.2%)2.Asia Pacific region had witnessed the highest level of growth over the last 5 years3.For most of the aforementioned markets, Women's Apparel constitutes the market's largest segment
Emergence of DigitalChannels	1.The disruptions due to COVID are changing the consumer buying habits with the primary driver of growth in the coming yearto continue to be digital channels, reflecting the fact that people in many countries remain reluctant to gather in crowdedenvironments2.In key markets of the World, sales through digital platforms have already crossed 20% and growing

Source: 1. https://www.statista.com/forecasts/758683/revenue-of-the-apparel-market-worldwide-by-country; 2. https://www.weforum.org/agenda/2020/08/how-the-textile-industry-can-help-countries-recover-from-covid-19/

Global Textile & Apparel Market Where is the World Consuming?

The global textiles and apparel industry market is projected by Boston Consulting Group to reach $3.3 trillion in 2030, growing at a CAGR of 3.5%

Source: 1. https://www.statista.com/forecasts/758683/revenue-of-the-apparel-market-worldwide-by-country; 2. https://www.weforum.org/agenda/2020/08/how-the-textile-industry-can-help-countries-recover-from-covid-19/ 4Y CAGR represents 2021-25

Global Textile & Apparel Market Channels through which World is Selling?

Global Textile & Apparel Market Key Takeaways

UK & Europe are the largest markets in the world and PDS is well entrenched in this geography. Focus on capturing larger share of customer wallets, increasing penetration and reach out to new customers

North America is one of the largest markets globally. Apart from its existing on ground presence, PDS has recently on-boarded senior industry leaders to further strengthen its position in this geography

China & India are the fastest growing markets and PDS is increasing its efforts in these geographies

Online channels continues to gain traction. PDS is participating through their customers online efforts. PDS now aims to augment its relations with large ecommerce companies

Deep Dive into Business Verticals of PDS

PDS Sourcing Business- Design Led ~43%% of Capital Employed

Design Excellence	Managing the entire supply chain execution of end-customers
	Provides in-house expertise and market know-how inmanaging global trade
Market Intelligence
	In-house product development, design, sampling, andtechnical teams
Expertise in Technical,
Wash andSustainability	100% Pre-sold, No Inventory Risk, Asset Light
1 Mn pieces a day400+ Partner	Designers based in London, Hong Kong, New York, Barcelona,Dusseldorf, New Delhi, Shanghai, Colombo, Santiago and Brussels
Factories

PDS Sourcing Business: A Well Diversified Based Of Marquee Customers

Catering to both offline & online channels
Top 10 Customers account for nearly 2/3rdof salesContinuous efforts underway in managing credit risk through application of 6Cs

20

PDS Manufacturing Business: (~44% of Capital Employed) Creating A World Class Manufacturing Base

6000 Machine Capacity with 130 production lines spread across Bangladesh, India and Sri Lanka Annual in-house production of 36 Million pieces

GREEN SMART SHIRTS, BANGLADESH

• Manufacturing facility with planned capacity of 2000 machines
• Formal & Casual shirts/blouses for Ladies, Men and Kids
• Next, Primark and Bestseller

NOR LANKA, SRI LANKA

• Manufacturing Facility based out of Sri Lanka with 600 Machines
• Specializes in Knits Kids wear Body Suits and Sleep Suits
• ASDA George, Next, Primark
• Based on a job work arrangement

100% Pre-sold, LEED Platinum and Gold certified Best in Class facilities

PDS Venture Investments & Others* 13% of Capital Employed

Collaborations	Overview	Value Add	PDS Impact
	Major focus on sustainable& tech-oriented fashionretail and consumer related	-True Portfolio companies can add revenuesourcesfor PDS group (eg-Hush, Cotswold)-Network effectwith True'spartners-Primark,	Revenue ↑-More share of wallet of existingcustomers to PDS
True PDS Fund	Investments	John Lewis, TJX, J & J, 7 Eleven	-Retention rate of Customersincreased-New Customers added
	Key Focus Area-Sustainableand deep Tech/ AI -MLbacked companies	Provide PDS Customers new upcoming techsolutionsin the space –sustainable ways ofgrowing cotton/ optimization of revenue profit,cost reduction or supply chain efficiency through	-Profitability ↑-Low cost of acquisition-Low cost of retention
Apex Black VC Fund		AI /ML tools	-Better Customer Engagement-Add on services through
PDS Impact Fund	Focused investments inCircular fashion –sustainability across fashionsupply chain	Provide PDS customers with a portfolio ofcompanies involved in Circular Economyincreasing the customer engagement & keepcustomer with PDS for a longer time & addingmore business	portfolio companies-New technological solutionsprovided through portfoliocompanies
			-PDS Brand
PDS Direct Investments	Focus on Fashion,technology & sustainabilitysectors for strategicalignment	Making PDS brand synonymous with ESGcompliance & best sustainable practices–Investments in Sustainable Brand Ratingplatforms or Sustainable sourcing platforms	-High on sustainability-Incubator & enhancer for techrevolutions in the space-ESG compliant

• Real Estate (includes offices in various locations) % of Gross Capital Employed as on 31 Dec 2020

PDS Venture Investments

Key Investment Criterion

DeploymentStage	Idea Stage(Pre-Revenue)	Seed Stage (<$1MnRevenue)	Early Stage (Between $1Mnand $5 Mn in revenue)	Growth Stage (>$5MnRevenue, scaling)
			Major Focus Area
ESGFocus &Impact	Carbon Neutral	Nature Giveback	Waste Elimination	Greener Choices
Environment	Chemicals-Circular Economy-(Sustainable Production) to Takeback / Circular Economy (Reuse/ Reduce wastage)Carbon Emissions-Clothing waste reduction (Operations)-the supply chain		To Invest in companies which intend to reduce hazardous chemicals usage in the Fashion manufacturingright from raw material what goes into production (Sustainable Raw Material Usage), Fabric FinishingTo Invest in companies with solutions to reduce the carbon emissions across the Fashion supply chainCompanies eyeing for waste reduction through sustainable operational methods along
Social	People-Community-Customers-Ethical marketing, data privacy & security	Social Mobility, Charitable Impact & Job Creation	Diversity & Inclusion, Health & well Being, Pay & Benefits, Health & Safety, Professional Development

Governance

Structure & Ownership, Purpose, Values & Transparency & Reporting

PDS Venture Investments

Few Illustrative Investments

Materra (erstwhile Hydrocotton)

A Technology (AI/ML) Company to grow cotton using 80% less water & no Pesticides company

• It uses uses controlled environments & data driven agriculture, radically improving farm efficiency, reliability & sustainability
• Controlled environments act as climate stabilisers
• Precision Irrigation prevents runoff, enables recirculation
• Biological pests replaces pesticides

https://www.hydrocotton.tech/ Relevance to Business Impact on Customers Impact on PDS Business

Evrnu

A revolutionary, new technology that recycles cotton garment waste to create premium, renewable textile

• Evrnu technologies are used to create engineered fibers with extraordinary performance & environmental advantages, made from discarded clothing
• NuCycl Technologies by Evrnu include Regenerative Cellulosics, Next generation regenerative Cellulosic solvent systems, Regenerative Polyester, Recoverable Stretch and Bio Engineered Fibers

Relevance to Business Impact on Customers Impact on PDS Business

Cerebra

An AI platform to help retailers & consumer product companies in the optimizing for revenue, profit, cost reduction or supply chain efficiency

The Cerebra AI platform and predictive analytic applications extract insights from both internal and external signals to identify trends, with data sources such as transaction processing data, customer service databases, social media feeds, inventory tracking software and customer reviews helping retailers and consumer products companies take more precise decisions.

https://www.cerebra.tech/ Relevance to Business Impact on Customers Impact on PDS Business

Reflaunt

A Technology platform focusing on Circular Economy connecting the Industry Collaborators

• The technology connects brands to the secondhand marketplaces
• Enable shoppers to resale past purchases on the brand's website to earn shopping credits
• The piece is rehomed and given a second life, taking fashion full circle

https://www.evrnu.com/ https://www.reflaunt.com/

5-year Historical Financial Performance Overview

5-year Financials Snapshot

1.2%

Note: Other Expenses primarily include Legal & Professional charges, Travelling & conveyance, Commission & brokerage

Deep Dive into Sourcing & Manufacturing Business

Note: Sales is prior to adjustments & eliminations | Segment-wise information is collated from the Annual Reports; | Segment-wise Depreciation for FY17 is calculated using same Depreciation % of Segment Assets of FY18. ROCE Based on Gross Capital Employed

Enhanced Key Leverage and Return Ratios

Key Takeaways:

• Net Debt/EBITDA has improved over last 3-years:
  • o Attributable to increase in EBITDA with the Net Debt being under control
• ROCE has increased significantly over last 3-years:
  • o Attributable to increase in EBIT with the Net Capital Employed being under control

Business & Financial Performance Overview

Q3 FY2021 AND 9M FY21

Key Business Highlights (1/2)

• 1. Notwithstanding adverse impact of COVID in key markets i.e. UK/EU/US, the Company has successfully managed credit risk along with topline growth (13% yoy), expansion of gross margins (1.5% yoy), opex reduction (17% in 9MFY21) and reduction in net working capital (10 days to 4 days in YTD)
• 1. As a result of the above and reduction in cost, Net Debt has reduced in 9MFY21 by ₹144cr
• 1. With an aim to expand into new categories and make indoors in the American retailers, the Company has onboarded business leaders
• 1. Focus on turning around manufacturing operations in Bangladesh
• 1. CEO has been on-boarded along with a value creation team
• 1. ESOP scheme has been launched and shareholder approval is being taken

Key Financial Highlights (2/2)

Consolidated Statement of Profit & Loss

									₹ in cr, unless mentioned otherwise
Particulars	Q3FY21	Q2FY21	Q3FY20	Growth(Y-o-Y)	9MFY21	9MFY20	Growth(Y-o-Y)	FY20
fromIncomeOperations	1626,	1856,	1437,	13%	4448,	4644,	-4%	6648,	Q3FY21
COGS	3291,	6111,	1971,	11%	3745,	3881,	-3%	5495,	•Income from Operations
ProfitGross	296	245	240	24%	703	763	-8%	1099,	increased by 13% in Q3FY21
Margin(%)Gross	182%	132%	167%	bps154	158%	164%	bps-63	165%	vs Q3FY20
EmployeeExpense	92	102	108	-15%	268	318	-16%	436	•Gross Margins expanded by
offrom%OperationsIncome	6%5	5%5	5%7	bps-186	0%6	9%6	bps-82	6%6	154bps on account of lowerCOGS as a % of Income from
OtherExpenses	129	108	110	17%	302	371	-19%	477	Operations compared to
offrom%IncomeOperations	79%	58%	77%	bps24	68%	80%	bps-121	72%	Q3FY20
EBITDA	76	35	22	245%	133	74	80%	186	•As a result, EBITDA margin
(%)MarginEBITDA	7%4	9%1	5%1	316bps	30%	6%1	139bps	28%	improved by 316 bps along
Depreciation	16	16	17	-8%	47	35	34%	52	with reduction in Employee
EBIT	61	19	5	1172%	86	39	121%	134	Expense as % of Income fromOperations
(%)EBITMargin	37%	10%	03%	bps339	19%	08%	bps109	20%	•PAT increased 5.1x from ₹11
OtherIncome	7	10	16	-59%	27	34	-19%	27	crin Q3 FY20 to ₹59 crin Q3
FinanceCost	5	5	8	-35%	21	23	-11%	49	FY21
Profitbeforeexceptionalanditemstax	62	24	13	367%	92	50	87%	111	9MFY21
Profit/(Loss)Add:ShareofofAssociates	0	-1	0	-1088%	-3	-2	82%	-7	•EBITDA increased by 80% from
Add:Exceptionalitems	0	0	0		0	0		-14	₹74 crin 9M FY20 to ₹133 cr
ProfitBeforeTax	62	23	13	363%	89	48	87%	91	in 9M FY21
TaxExpenses	3	5	2	65%	10	2	328%	9	•PAT increased by 74% from
ProfitAfterTax	59	18	11	413%	79	45	74%	81	₹45 crin 9MFY20 to ₹79 cr
(%)MarginPAT	6%3	0%1	8%0	bps281	8%1	0%1	bps80	2%1	9M FY21

• Income from Operations increased by 13% in Q3FY21
• Gross Margins expanded by 154bps on account of lower COGS as a % of Income from Operations compared to
• As a result, EBITDA margin improved by 316 bps along with reduction in Employee Expense as % of Income from
• PAT increased 5.1x from ₹11 cr in Q3 FY20 to ₹59 cr in Q3
• EBITDA increased by 80% from ₹74 cr in 9M FY20 to ₹133 cr
• PAT increased by 74% from ₹45 cr in 9MFY20 to ₹79 cr in

Revenue Break up (9M FY21)*

Segment wise Business Performance

Revenue break up (₹cr, % of total)

Capital Employed break up (₹cr, % of total)

• Sourcing Business contributes 96% of topline with ~43% of capital employed
• However, the Sourcing Business currently contributes 100% of Profit Before Tax
• ~57% of Capital Employed is attributable to Manufacturing, Investment & Others (Real Estate) business
• The manufacturing business is on the cusp of turnaround

Revenue is unadjusted for intercompany

Segment wise based on Gross Capital Employed as of 31 Dec 2020 | Others – Real Estate (includes offices in various locations)

Net Capital Employed: ₹745cr

(Excludes cash & bank balance of ₹388cr)

Consolidated Balance Sheet

₹ in cr, unless mentioned otherwise

	Ason
Particulars	31-Dec-20	31-Mar-20
Non-CurrentAssets	560	571
CurrentAssets	1607,	1773,
Inventories	195	183
TradeReceivables	785	832
Cashandcashequivalents	246	350
OtherBankBalances	142	152
OtherCurrentAssets	239	255
TotalAssets	2167,	2344,
TotalEquity	645	611
LiabilitiesNon-Current	71	84
Borrowings	2	5
OtherLiabilitiesNon-Current	69	79
LiabilitiesCurrent	1451,	1649,
Borrowings	486	742
TradePayables	807	729
OtherLiabilitiesCurrent	158	178
TotalEquity&Liabilities	2167,	2344,

Particulars	Ason
	31-Dec-20	31-Mar-20
InventoryDays	14	12
DebtorDays	48	46
PayablesDays	59	48
NWCDays	4	10
(%)ROE	3%16	3%13
/DebtEquityNet	016x	040x
/DebtNetEBITDA	057x	132x

• Net Debt has decreased by ₹144cr since Mar 2020
• Net Debt/Equity decreased from 0.40x to 0.16x
• Net Debt/EBITDA decreased from 1.32x to 0.57x
• Net Working Capital Days decreased from 10 days to 4 days
• ROCE for 9M FY21 is 15.3%
• ROE has increased from 13.3% in FY20 to 16.3% in 9MFY21

Value Creation and Way Forward for PDS

What PDS has achieved since listing PDS Share Price Evolution since Listing

What PDS has achieved? PDS Generating Return Higher than Cost of Capital

PDS has a Positive Economic Value-Added (EVA) generating returns in excess of the required minimum return (WACC)

ROCE (net) exceeds the WACC by ~5%

Note: Calculated basis Annualized 9MFY21. Cost of debt basis average debt.

Way Forward

Balance Sheet Optimization

Continue to operate on an asset light model

Expansion in margins and turn around of manufacturing business will enable PDS generate higher return on capital employed

Explore opportunities in new age sustainability focused, techenabled business which will generate higher returns than PDS's

US is one of the top 5 apparel markets globally. Focus on penetrating the US market

Strengthening team in US and leveraging the Group network for servicing customers

Discussion on with leading retailers in US

New team focused on Australia New Zealand & Scandinavian countries

Category Expansion

PDS has a strong presence in apparel and is deepening its relationship with existing customers by focussing on expanding into new categories Geographic Expansion cost of capital

With a quick time to market, PDS successfully launched PPE masks across leading retailers

Focus on expanding in other categories like home fashion and active wear across geographies

Margin Expansion

Collaborating with retailers for creation of in-house brands

Successfully launched brands like Adapt, Wiseprotec

Focus on in-house brands is more margin accretive

Focus on turning around the manufacturing facilities by leveraging the Group network will enable expansion of consolidated margin

Continue to monitor & optimize operating costs

PDS endeavours to double the turnover to cross $2bn with PAT of +4% resulting in ROCE of +25%

Annexure

Standalone Statement of Profit & Loss

₹ in cr, unless mentioned otherwise

Particulars	Q3FY21	Q2FY21	Q3FY20	Growth(Y-o-Y)	9MFY21	9MFY20	Growth(Y-o-Y)	FY20
fromOperationsIncome	162	98	106	52%	314	297	6%	411
COGS	77	38	00		115	00		00
ProfitGross	85	60	106	-20%	199	297	-33%	411
(%)GrossMargin	524%	616%	1000%		635%	1000%		1000%
EmployeeExpense	38	25	64	-41%	94	168	-44%	226
offrom%IncomeOperations	235%	254%	603%		300%	565%		549%
OtherExpenses	22	12	27	-19%	46	76	-39%	109
offrom%OperationsIncome	136%	123%	258%		147%	255%		264%
EBITDA	25	23	15	66%	59	53	10%	77
Margin(%)EBITDA	152%	239%	140%	bps128	188%	180%	bps75	187%
Depreciation	06	08	06	-8%	21	19	9%	25
EBIT	91	15	08	123%	38	34	11%	25
(%)MarginEBIT	116%	152%	79%	bps369	121%	116%	bps53	126%
OtherIncome	06	01	03	93%	16	09	84%	08
FinanceCost	04	04	04	-4%	12	13	-8%	17
Profitbeforeexceptionalitemsandtax	20	12	07	187%	42	30	41%	42
ProfitBeforeTax	20	12	07	187%	42	30	41%	42
TaxExpenses	05	03	14	-63%	11	11	-2%	15
ProfitAfterTax	15	09	-07		32	91	65%	27
(%)MarginPAT	5%9	2%9	6%-6		0%10	5%6	bps359	5%6

Standalone Balance Sheet

₹ in cr, unless mentioned otherwise

	Ason
Particulars	31-Dec-20	31-Mar-20
Non-CurrentAssets	135	137
CurrentAssets	10	9
TradeReceivables	4	1
Cashandcashequivalents	3	2
OtherBankBalances	0	0
OtherCurrentAssets	2	6
TotalAssets	144	146
TotalEquity	114	111
LiabilitiesNon-Current	6	7
Borrowings	2	4
OtherLiabilitiesNon-Current	4	3
CurrentLiabilities	24	28
Borrowings	7	7
TradePayables	6	3
OtherLiabilitiesCurrent	11	18
TotalEquity&Liabilities	144	146

Together we're building a better, more sustainable supply chain

Abhishekh Kanoi

For Further Information, please contact Head of Legal & Company Secretary abhishekh.k@pdsmultinational.com

Reenah Joseph

Head Corporate Finance & Investor Relations reenah@pdsmultinational.com

PDS Multinational Fashions Limited No. 758 & 759, 2nd Floor, 19th Main, Sector-2, HSR Layout, Bangalore-560102, Karnataka, India CIN: L18101KA2011PLC094125 Tel.: 080-67653000 Email: investors@pdsmultinational.com