PVSL

Popular Vehicles and Services financials

Market cap
₹781 Cr
Sector
Automobile and Auto Components
Calls analysed
6
Latest concall · Q1 FY27 · call held 12 Aug 2026

Popular Vehicles and Services Limited Q1 FY27

Revenue from Operations ₹1,890 cr +44%EBITDA ₹71.5 cr +87%EBITDA Margin 3.8% Reported PAT ₹1.4 cr

What went well

  • Revenue from operations grew approximately 44% Y-o-Y to INR 1,890 crores, driven by both organic growth and acquired businesses.
  • Reported EBITDA increased approximately 87% Y-o-Y to INR 71.5 crores, with EBITDA margin improving to 3.8% from 2.9% in Q1 last year.
  • Reported PBT returned to positive territory at INR 1.9 crores, compared to a loss of INR 11 crores in Q1 last year.

What to watch

  • Acquisition-related depreciation (approx. INR 12 crores) and finance costs (approx. INR 6.8 crores) continue to impact profitability below EBITDA.
  • Service volumes in Passenger Vehicles were lower by around 5% Y-o-Y, impacted by rationalization of low-value job cards.
Read the full call →

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 3 delivered 3 missed 9 open
  • Inventory Days delivered said Q4 FY25 Promised: 35 days for ARENA, 41-42 days for NEXA by June Q1 FY27: Promise remains achieved and closed. A new, more stringent target is now active (inventory-days-below-30).
  • EBITDA Margin missed said Q4 FY25 Promised: 5.1% in FY26 Q1 FY27: Promise for FY26 remains missed and closed.
  • EBITDA Margin revised down said Q1 FY26 Promised: Go back to about 5% in FY27 Q1 FY27: Revised down. Management stated 'we might not inch to 5% this year... We will be closer to about 4.3%, 4.4% this year'.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 71.8%, net profit up 56.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue763 645 588 536 707 −7%875 +36%730 +24%922 +72%
EBITDA22 4 -5 4 17 −22%23 +436%13 +370%25 +457%
Net profit3 -13 -23 -15 -7 −316%-12 +8%-17 +27%-7 +56%
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.

Performance −27.4% 1Y

₹80₹100₹120₹140₹160Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 11 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 12 Aug 2026

1Y: ₹139.59 on 10 Sept 2025 → ₹101.3. High ₹155.24 (4 Nov 2025), low ₹84.88 (25 Feb 2026).

How the price took the results

close before → close after

Q1 FY27
+8.4%
12 Aug
Q4 FY26
−7.5%
27 May
Q3 FY26
−6.7%
11 Feb
Q2 FY26
+0.1%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 3.8% a year over 2 years, FY24 to FY26. Operating margin narrowed to 2.0%.

Year endingFY24FY25FY26
Revenue₹2.6k Cr₹2.6k Cr₹2.8k Cr
Operating profit₹115 Cr₹39 Cr₹57 Cr
Operating margin4.3%1.5%2.0%
Interest₹55 Cr₹51 Cr₹68 Cr
Depreciation₹49 Cr₹53 Cr₹78 Cr
Net profit₹26 Cr₹-34 Cr₹-51 Cr
Net margin1.0%-1.3%-1.8%
Cash from operations₹115 Cr₹-39 Cr₹93 Cr
Free cash flow₹66 Cr₹-72 Cr₹36 Cr
ROCE10.0%1.0%0.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹13 Cr₹13 Cr₹13 Cr₹14 Cr₹14 Cr₹14 Cr
Reserves₹184 Cr₹192 Cr₹220 Cr₹478 Cr₹616 Cr₹391 Cr
Borrowings₹378 Cr₹482 Cr₹508 Cr₹463 Cr₹1.1k Cr₹874 Cr
Other liabilities₹133 Cr₹138 Cr₹115 Cr₹270 Cr₹440 Cr₹208 Cr
Total liabilities₹707 Cr₹824 Cr₹856 Cr₹1.2k Cr₹2.2k Cr₹1.5k Cr
Fixed assets₹288 Cr₹385 Cr₹387 Cr₹427 Cr₹787 Cr₹743 Cr
Capital work in progress₹16 Cr₹12 Cr₹6 Cr₹13 Cr₹15 Cr₹11 Cr
Investments₹62 Cr₹62 Cr₹93 Cr₹111 Cr₹63 Cr₹115 Cr
Other assets₹341 Cr₹365 Cr₹371 Cr₹674 Cr₹1.3k Cr₹618 Cr
Total assets₹707 Cr₹824 Cr₹856 Cr₹1.2k Cr₹2.2k Cr₹1.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.05 pp while DIIs trimmed −0.65 pp. The shareholder count shrank 12% to 56,810.

Promoters
61.4%
FIIs
10.3%
DIIs
9.8%
Public
18.5%

Since Jun 2025

  • Public +1.05 pp
  • DIIs −0.65 pp
  • FIIs −0.60 pp

How it drifted, 10 quarters

Over this window FIIs went from 7.0% to 10.3% — +3.3 pp.

Mar '24Mar '25Jun '26

Ownership split by quarter, oldest first. Mar '24: Promoters 61.2%, FIIs 7.0%, DIIs 10.3%, Public 21.5%.Jun '24: Promoters 61.2%, FIIs 16.0%, DIIs 12.1%, Public 10.7%.Sep '24: Promoters 61.2%, FIIs 14.5%, DIIs 13.0%, Public 11.3%.Dec '24: Promoters 61.2%, FIIs 12.8%, DIIs 12.2%, Public 13.8%.Mar '25: Promoters 61.2%, FIIs 12.7%, DIIs 11.7%, Public 14.4%.Jun '25: Promoters 61.2%, FIIs 10.9%, DIIs 10.5%, Public 17.4%.Sep '25: Promoters 61.2%, FIIs 10.6%, DIIs 10.6%, Public 17.7%.Dec '25: Promoters 61.2%, FIIs 10.4%, DIIs 10.2%, Public 18.2%.Mar '26: Promoters 61.4%, FIIs 10.3%, DIIs 10.0%, Public 18.3%.Jun '26: Promoters 61.4%, FIIs 10.3%, DIIs 9.8%, Public 18.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Popular Vehicles and Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Naveen Philip 20.41%unchanged
Francis Kuttukaran Paul 20.39%unchanged
John Kuttukaran Paul 20.39%unchanged
Banyantree Growth Capital II LLC VC / PE10.01%unchanged
HDFC Trustee Company Limited - HDFC Tax Saverfund Mutual fund9.75%unchanged
Fedex Finance Private Limited 1.66%unchanged
Nimisha Himanshu Shah 1.43%unchanged
Kuttukaran Homes LLP 0.19%unchanged
Saju Thomas Daughters Trust 0.00%unchanged
Saju Thomas Heirs Trust 0.00%unchanged
Shalet John 0.00%unchanged
Susheela George Family Trust 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in PVSL

Filings to Jul 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹75 Cr
5 schemes
Biggest holder
HDFC ELSS Tax saver
₹54 Cr · 0.3% of that fund
SchemeHoldingLast month
HDFC ELSS Tax saver HDFC Mutual Fund₹54 Crheld
HDFC Dividend Yield Fund HDFC Mutual Fund₹9 Crheld
HDFC Value Fund HDFC Mutual Fund₹7 Crheld
HDFC Transportation and Logistics Fund HDFC Mutual Fund₹3 Crheld
HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund₹3 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Held by funds
₹75 Cr
5 schemes
Biggest holder
HDFC ELSS Tax saver
₹54 Cr · 0.3% of that fund

Shares held by these funds +53%

Mar '24 69.35 L shares Jul '26

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Popular Vehicles and Services Limited

Guides on how to read this kind of business and the numbers that matter.