POPULAR VEHICLES N SER L

Management reported that Popular Vehicles and Services Limited (PVSL) started FY27 on a positive note, with demand improving compared to the previous year. The company noted a 44% year-on-year increase in revenue from operations, reaching INR 1,890 crores, and a significant rise in vehicle volumes. The growth was attributed to both acquisitions made in FY26 and organic growth across the existing network. Management highlighted that the GST reforms have supported affordability in the entry-level passenger vehicle segment. The company also reported a healthy performance in its electric vehicle (EV) segment, with revenue growth of 113%. Management indicated that the acquired businesses are now contributing positively at the EBITDA level, and they aim to achieve sustainable profitability at the PAT level from Q2 onwards. Overall, management emphasized a focus on scaling the business, improving service throughput, and maintaining financial discipline.

Management emphasized strong growth and positive performance across various segments.