Popular Vehicles and Services Limited has informed the Exchange regarding Outcome of Board Meeting held on May 26, 2026.
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On the reaction day the stock moved 6.8 pts less than Nifty Microcap 250 and 7.6 pts less than its Automobiles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Popular Vehicles and Services Limited reported FY26 standalone revenue of Rs 28,683.52 million with a net loss of Rs 692.16 million. The company disclosed a significant restatement where Q4FY26 revenue growth was corrected from the previously reported 69% to 28% due to erroneous calculation during data compilation. Exceptional items included a Rs 11.57 million gain from disinvestment of subsidiary Kuttukaran Green Private Limited and Rs 8.70 million impact from new Labour Codes. The Board approved appointment of MSKA & Associates LLP as new Statutory Auditor for 5 years, appointment of Mr. Paul Francis Kuttukaran as Non-Executive Director, and re-composition of various committees including new CRO appointment. The company also completed acquisition of Maruti Suzuki dealership business in Telangana for Rs 930 million (effective October 15, 2025).
The company reported a substantial loss for FY26 despite revenue growth. The restatement of Q4 revenue growth from 69% to 28% raises concerns about internal data accuracy controls. The net loss position and need to restate previously disclosed numbers may negatively impact investor confidence.