Q1FY27 business update: revenue up 53% YoY, volumes up 91%
PVSL · price
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Popular Vehicles Q1FY27 update: total revenue up about 53% YoY (33% organic), new vehicle volumes up 91% YoY (58% organic). PV excluding luxury grew 72%, luxury PV 42%, CV 37%. Inventory days improved to 33 from 50. Growth aided by September 2025 GST reforms, especially in entry-level segment. Debt rose YoY on acquisitions and network expansion; acquisition-related charges still weigh on profits. Network expanded with new Maruti, Tata CV and JLR outlets. Q1 results pending audit review.
Strong YoY growth signals healthy demand post GST reforms. Higher debt and acquisition charges remain near-term concerns. Overall positive.