Popular Vehicles and Services Limited — PPTs, 10-02-2026: Investor Presentation

**1. Business Performance:**

Popular Vehicles and Services saw a strong comeback in Q3 FY26, with revenue jumping 30.8% YoY to 1,785.4 Cr. Volume demand recovered significantly, with entry-level passenger vehicles up 35% YoY, premium vehicles growing 30% YoY, and commercial vehicles soaring 52% YoY. The EV two-wheeler segment also showed robust growth. The service business, while seeing some moderation, maintained revenue due to strong performance in higher-margin collision and repair services.

**2. Growth Drivers or Strategy:**

The company is strategically expanding its footprint through key acquisitions, including an Audi dealership in Telangana/Andhra Pradesh and becoming an authorized distributor for Balkrishna Industries Limited (BKT) in Kerala/Karnataka. Ongoing network expansion, diversification into new markets, and a sharpened focus on high-margin service and spare parts businesses are central to its strategy.

**3. Recent Developments:**

In addition to the Audi dealership acquisition, Popular Vehicles commenced operations at new Tata Motors CV and Ather EV sales outlets. The company also received multiple accolades from Tata Motors and MGP for outstanding performance and customer support.

**4. Key Financial Metrics:**

Q3 FY26 EBITDA surged 68.5% YoY to 58.2 Cr, with an EBITDA margin of 3.3%. Profit After Tax (PAT) turned positive at 0.7 Cr, compared to a loss in the prior year, resulting in an EPS of 0.09.

**5. Management Commentary / Outlook:**

Management highlighted improved customer sentiment post-GST reforms and strong government emphasis on infrastructure. While acquisitions may impact near-term costs, full revenue benefits are expected next year, with EBITDA margins projected to normalize to the ~5% range. The outlook remains positive, driven by improving demand, continued network expansion, and upcoming new model launches.