Popular Vehicles and Services Reports Q1FY27 Results, Total Income Reaching 1,903.1 Crs

Popular Vehicles and Services Reports Q1FY27 Results, Total Income Reaching 1,903.1 Crs​

Popular Vehicles and Services Limited (PVSL) has announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a significant rise in total income, driven by strong performance across new vehicle sales and service businesses, despite managing operational challenges related to acquisitions and network expansion.

The consolidated results showed Total Income standing at Rs. 1,903.1 Crs for Q1FY27, marking a 44.6% increase year-on-year (YoY). EBITDA stood at Rs. 71.5 Crs, representing an 86.6% rise compared to the same quarter last year.

The company’s passenger vehicle (PV) sales saw strong growth, with PV sales increasing over 80% YoY, while commercial vehicle (CV) sales grew by 41% YoY. The electric vehicle (EV) segment continued its upward trajectory, recording a volume increase of 152.7% on a year-on-year basis.

Segment Performance Highlights​

In terms of new vehicles, the total volume stood at 17,300 units, a robust 81.5% increase compared to Q1FY26 volumes. The company noted that revenue growth remained healthy but lower than volume growth, reflecting product mix and realizations.

The performance across vehicle segments during the quarter was as follows:


For the services and repairs business, volumes showed marginal year-on-year growth, while income remained strong across segments. PV service income grew despite lower volumes, supported by higher-value jobs.

Key metrics for the service and repairs business:

Operational and Strategic Commentary​

Mr. Naveen Philip, Promoter & Managing Director of the company, commented on the results, highlighting a strong start to FY27 driven by broad-based growth in the new vehicle business and improved customer sentiment influenced by GST reforms. He noted that the performance was supported by both organic growth from the existing network and inorganic growth derived from successful acquisitions completed during FY26.

The company noted an important diversification milestone, with revenue contribution from Kerala declining to below 50% in Q1FY27. The MD also pointed out that PV (excluding luxury) sales grew by over 80% YoY, with approximately 70% of that growth being organic volumes.

Operational discipline remains a focus, as new vehicle inventory days reduced significantly to around 32 days from roughly 50 days a year prior. Absolute inventory increased by about 14% YoY, which was substantially lower than the revenue growth rate.

Acquisitions and Expansion​

The company reported significant contributions to revenue from recent acquisitions:

• Globe CV Private Limited (BharatBenz): Rs. 71 Crs
• R.K.S Motors Private Limited (MSIL): Rs. 126 Crs
• Olympus Motors Private Limited (Audi): Rs. 20 Crs

Furthermore, the company announced network expansion, initiating operations at several new touchpoints, including:

• One Service Center for MSIL at Koyilandy, Keralam.
• One Sales outlet each for Tata Motors CV in Perumbavoor and Kazhakootam, Keralam.
• A Sales & Service Facility for JLR in Nagpur, Maharashtra.

The firm also highlighted several achievements received by Popular Mega Motors (India) Pvt Ltd at the Tata Motors National Dealer Conference in Goa, including awards for Highest Market Share Growth—CV Passenger and SCV Cargo (ACE), as well as recognizing it for Highest Sales of Tata Winger and Spare Parts Process Excellence.

PVSL Stock Price Movement​

On Tuesday, shares of Popular Vehicles and Services Limited gained 1.53%, settling at ₹111.17 after moving up by ₹1.67 from the previous close of ₹109.29. The equity traded within a session range of ₹106.13 to ₹112.00, with a total volume registering 32,454 shares.