PVSL Popular Vehicles and Services Q2 FY26 results (Jul–Sep 2025) and concall
Popular Vehicles reported a mixed Q2 FY26, with total income growing 16.6% QoQ to INR 1,534.6 crores and adjusted EBITDA margin at 3.5%. The company successfully completed two key acquisitions in Telangana (Maruti Suzuki) and Punjab (BharatBenz) while divesting its Piaggio and Honda businesses. However, PAT remained low at INR 0.6 crores, and a cess provision of INR 3.6 crores impacted profitability, with new acquisitions expected to be loss-making initially.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
What they filed
Q2 FY26: revenue down 7.2%, net profit down 316.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|
| Revenue | 763 | 645 | 588 | 536 | 707 −7% |
| EBITDA | 22 | 4 | -5 | 4 | 17 −22% |
| Net profit | 3 | -13 | -23 | -15 | -7 −316% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
