Popular Vehicles and Services Limited — Important, 12-02-2025: General Updates

The Board of Directors of Popular Vehicles and Services Ltd has approved the divestment of its 100% equity stakes in subsidiaries Vision Motors Private Limited (VMPL) and Kuttukaran Green Private Limited (KGPL). VMPL contributed a turnover of ₹304.64 crore, accounting for 5.42% of the consolidated turnover and 7.72% of the consolidated net worth. Conversely, KGPL recorded a turnover of ₹24.46 crore, representing just 0.43% of the consolidated turnover, but it had a negative net worth. The Finance and Authorization Committee of the Board is tasked with overseeing the details of this divestment. While these subsidiaries are not classified as material, this transaction may offer strategic flexibility. Investors should monitor developments related to the potential benefits or risks associated with this step, as it reflects the company's adaptability in streamlining operations.