Key Financial Figures

Quarterly Performance (Q2FY27):

  • Total Income: ₹2,093.8 Crores (up 36.0% YoY from ₹1,539.8 Cr in Q2FY26)
  • EBITDA (including other income): ₹77.7 Crores (up 56.8% YoY from ₹49.5 Cr)
  • EBITDA Margin: 3.7% (vs 3.2% in Q2FY26)
  • PAT: ₹2.2 Crores (up 286.0% YoY from ₹0.6 Cr)
  • PAT Margin: 0.1% (vs 0.0% in Q2FY26)

Half-Yearly Performance (H1FY27):

  • Total Income: ₹4,002.3 Crores (up 39.9% YoY from ₹2,860.5 Cr in H1FY26)
  • EBITDA: ₹149.8 Crores (up 70.4% YoY from ₹87.9 Cr)
  • EBITDA Margin: 3.7% (vs 3.1% in H1FY26)
  • PAT: ₹3.6 Crores (vs loss of ₹8.2 Cr in H1FY26)
  • PAT Margin: 0.1% (vs negative in H1FY26)

Operational Highlights

New Vehicles Business:

  • Total Volume: 19,052 units (up 46.4% YoY)
  • Total Income: ₹1,631 Crores (up 42.3% YoY)
  • Average Selling Price: ₹8,56,029 (down 2.8% YoY)

Segment-wise New Vehicle Performance:

  • Passenger Vehicles (including Luxury): 11,818 units (up 39.1% YoY), Income: ₹987.0 Cr (up 48.1% YoY)
  • Commercial Vehicles: 3,549 units (up 26.9% YoY), Income: ₹580.8 Cr (up 28.5% YoY)
  • Electric Vehicles: 3,685 units (up 114.6% YoY), Income: ₹63.1 Cr (up 124.1% YoY)

Other Business Segments:

  • Pre-owned Vehicles: 3,067 units (up 20.0% YoY), Income: ₹108 Cr (up 22.5% YoY), ASP: ₹3,51,088
  • Services & Repairs: 2,67,350 units (up 8.3% YoY), Income: ₹284 Cr (up 19.8% YoY), ASP: ₹10,636
  • Spare Parts Business: Income: ₹68 Cr (up 2.4% YoY)

Growth Metrics

Total Revenue from Operations: 40% YoY growth (26% organic growth)

Total New Vehicle Volume Sales: 51% YoY growth (28% organic growth)

Total Service Volume: 17% YoY growth (5% organic growth)

Revenue Contribution from Acquisitions in Q2FY27:

  • Globe CV Private Limited (BharatBenz): ₹52 Crores
  • R.K.S Motors Private Limited (MSIL): ₹115 Crores
  • Olympus Motors Private Limited (Audi): ₹33 Crores

Geographic Revenue Distribution (Q2FY27)

  • Keralam: 50%
  • Tamil Nadu: 22%
  • Karnataka: 14%
  • Maharashtra: 5%
  • Telangana: 7%
  • Punjab: 2%
  • Andhra Pradesh: 0.4%

Business Developments

Network Expansion:

  • Yanik B2B e-commerce marketplace (operated by ZPAREX Digisolutions Private Limited) commenced full-scale commercial operations with 13,000+ verified parts
  • New service centers opened: MSIL Service Center at Karukachal, Keralam; Tata Motors CV Service Center at Kayamkulam, Keralam

Awards & Recognition:

  • Kuttukaran Cars Pvt Ltd received multiple awards including Kerala TNPS (Customer Satisfaction), Tamil Nadu TNPS, and Maharashtra TNPS for April-August 2026

Management Commentary

Mr. Naveen Philip, Promoter & Managing Director, commented on strong festive demand driving growth across all segments. He noted that major acquisitions in Punjab and Telangana have been successfully integrated and are witnessing healthy growth. Inventory levels were strategically elevated for festive season but expected to normalize in coming months.

Promoter Family Settlement: Mr. John K. Paul stepped away from the Company's businesses effective 1 October 2026. His shareholding will be transferred in phases to continuing promoters by December 2029. Leadership continues with Mr. Francis K. Paul and Mr. Naveen Philip.

Guidance: Company reaffirmed FY27 revenue growth guidance of 20-25% over FY26 and expects to end the financial year profitably.

Company Profile

Popular Vehicles and Services Limited operates multi-brand automobile dealerships across 7 states with 215 showrooms & sales outlets, 31 pre-owned vehicle showrooms, 178 authorized service centers, 56 retail outlets, and 25 warehouses. The company represents Maruti Suzuki, Jaguar Land Rover, Audi, Tata Motors, Bharat Benz, and Ather Energy.