Popular Vehicles and Services Limited — PPTs, 16-08-2025: Investor Presentation

Popular Vehicles & Services (PVSL) has reported its Q1 FY26 financial results. Revenue grew 1% YoY to ₹1,316 Cr, driven by strong performance in luxury and EV segments, despite a seasonally slow quarter. However, EBITDA saw a 26% YoY decline to ₹38 Cr, with margins at 2.9%. The company effectively reduced losses compared to Q4 FY25 through cost control, though PAT remained a loss of ₹8.8 Cr.

A key highlight was the EV 2-wheeler segment, which doubled volumes and revenue YoY, alongside 4.5% YoY growth in service revenue. PVSL is actively expanding its footprint, recently securing agreements for 8 new BharatBenz sales, service, and spare parts facilities in Punjab, marking entry into a new state. They also expanded their Ather EV presence with new centers in Karnataka and Chennai.

Management acknowledges market uncertainties in the passenger vehicle segment but remains optimistic about India's long-term growth story, anticipating demand recovery, especially in compact cars. Strategic priorities include continued expansion, deepening market presence, strict cost control, and channeling resources into high-growth opportunities.