Popular Vehicles and Services Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2025.
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Awaiting price reaction for this filing.
Popular Vehicles and Services Limited announced its Q1 FY26 results, with consolidated revenue of Rs 13,109 million (up 1.5% YoY from Rs 12,914 million), but swung to a consolidated loss of Rs 87.61 million versus a profit of Rs 54.50 million in Q1 FY25. Standalone revenue declined 8.6% YoY to Rs 5,364 million, though the standalone loss narrowed to Rs 150.85 million from Rs 230.56 million in the year-ago quarter. The board approved the appointment of Mr. Neeraj Jain as Independent Director and proposed an Employee Stock Option Plan (ESOP) for shareholder approval at the 41st AGM. The company is also divesting its stakes in subsidiaries Kuttukaran Green Private Limited and Vision Motors Private Limited, expected to close by H1 FY26. Statutory auditors B S R & Associates issued an unmodified (clean) limited review report on both standalone and consolidated results.
The swing to consolidated loss and standalone revenue decline are negatives that may weigh on sentiment, though the narrower standalone loss and the subsidiary divestment (expected to simplify the group structure) provide some offset. The proposed ESOP could lead to mild dilution but signals management's focus on employee retention.