Please find enclosed the copy of press release to be issued on the financial and business performance of the Company for the fourth quarter and year ended 31st March, 2026.
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Popular Vehicles & Services Ltd reported strong Q4FY26 performance with new vehicle volumes up ~44% YoY to 14,885 units and total income up ~28% YoY to Rs. 1,758.8 crores. EBITDA stood at Rs. 57.5 crores with margins improving to 3.3% from 2.2% in Q4FY25. Full year FY26 revenue grew 15% YoY to Rs. 6,401.1 crores with EBITDA of Rs. 203.4 crores (3.2% margin). The company completed three strategic acquisitions during FY26 - BharatBenz dealership in Punjab, Maruti Suzuki in Telangana, and Audi operations in Telangana & Andhra Pradesh - while divesting Honda and Piaggio businesses. Non-Keralam revenue contribution increased to ~47% in FY26 from 28% in FY23. PV service volumes declined but revenue remained resilient due to higher-value jobs. EV business scaled sharply with 138% YoY volume growth.
Strong operational recovery with margin improvement signals execution is on track. The company is diversifying beyond Kerala and scaling EV business, positioning for sustainable growth. PAT remains negative (-5.0 crs in Q4) due to depreciation and interest costs from acquisitions.