Popular Vehicles and Services Limited — Investor Meet, 04-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Popular Vehicles and Services reported weak FY ’25 volumes with new vehicle sales down 5.5% YoY to 44,087 units; total income fell 1.5% to Rs. 5,561 Cr. EBITDA dropped 38% to Rs. 175 Cr, and PAT saw a loss of Rs. 10.5 Cr. Q4 sales were down 6.7%, EBITDA halved to Rs. 30 Cr, with a loss of Rs. 13 Cr. Service revenue dipped 8% in Q4 due to lower ASPs. The company is focusing on cost control, digital initiatives, and expanding beyond Kerala using Rs. 70 Cr from subsidiary divestments. Maruti remains the volume driver with growing NEXA sales; JLR and EV segments are expanding. Margins are expected to rebound to FY ’24 levels by FY ’26, supported by cost savings and reduced discounts. Debt is moderate, with planned CAPEX around Rs. 30 Cr. Management is cautiously optimistic on sustainable growth in luxury, EV, and service segments.