Key Financial Figures

Q4 FY26 Performance:

  • Total Income: ₹1,758.8 crore (up 27.8% YoY from ₹1,376.2 crore)
  • EBITDA (including other income): ₹57.5 crore (up 93.5% YoY from ₹29.7 crore)
  • EBITDA Margin: 3.3% (up from 2.2% in Q4 FY25)
  • PAT: -₹5.0 crore (improved from -₹13.7 crore in Q4 FY25)

Full Year FY26 Performance:

  • Total Income: ₹6,401.1 crore (up 15.1% YoY from ₹5,561.6 crore)
  • EBITDA: ₹203.4 crore (up 16.0% YoY from ₹175.4 crore)
  • EBITDA Margin: 3.2% (flat YoY)
  • PAT: -₹12.5 crore (compared to -₹10.5 crore in FY25)

Operational Highlights

New Vehicles Business:

  • Q4 Volume: 14,885 units (up 43.5% YoY)
  • Q4 Total Income: ₹1,349 crore (up 32.2% YoY)
  • Average Selling Price: ₹9,06,551 (down 7.9% YoY)

Segment-wise New Vehicle Performance (Q4 FY26):

  • Passenger Vehicles (incl. Luxury): 8,090 units (₹654.2 crore revenue, up 17.7% YoY)
  • Commercial Vehicles: 3,716 units (₹644.9 crore revenue, up 46.3% YoY)
  • Electric Vehicles: 3,079 units (₹50.3 crore revenue, up 113.1% YoY)

Other Business Segments (Q4 FY26):

  • Pre-owned Vehicles: 2,996 units (₹91 crore revenue, up 6.0% YoY)
  • Services & Repairs: 2,44,693 units (₹253 crore revenue, up 21.3% YoY)
  • Spare Parts Business: ₹65 crore revenue (up 1.1% YoY)

Business Updates and Strategic Developments

Network Expansion:

  • MSIL service center at Karunagappalli, Keralam
  • Ather: 2 touchpoints in Bangalore (Karnataka), 1 in Keralam, 1 in Maharashtra
  • Balkrishna Industries Limited (BKT) Distributorship covering two-wheeler and PCR segments in Keralam and Karnataka

Credit Ratings Update:

  • Care Ratings Limited extended long-term rating of CRISIL A/Stable and short-term rating at CRISIL A1 valid till 31st March 2027
  • Total bank loan facilities rated increased from ₹468 crore to ₹643 crore

Acquisitions and Divestments (FY26):

  • Completed acquisitions: BharatBenz dealership in Punjab, Maruti Suzuki dealership in Telangana, Audi dealership operations in Telangana and Andhra Pradesh
  • Divested Honda and Piaggio businesses

Geographic Revenue Distribution (FY26):

  • Keralam: 53.4%
  • Tamil Nadu: 25.2%
  • Karnataka: 10.9%
  • Maharashtra: 5.3%
  • Punjab: 2.3%
  • Telangana: 2.7%
  • Andhra Pradesh: 0.1%

Management Commentary

Mr. Naveen Philip, Promoter & Managing Director, highlighted:

  • FY26 revenue grew ~15% YoY with new vehicle volumes up ~21% YoY
  • Q4 saw revival in consumer sentiment aided by GST reforms announced in September 2025
  • New vehicle inventory days reduced to ~29 days from ~41 days last year
  • Non-Keralam revenue contribution increased to ~47% in FY26 from 28% in FY23
  • Focus for FY27: improving operating leverage, consolidating recently added businesses, and increasing recurring revenue streams

Subsidiary Recognition

Popular Mega Motors (India) Pvt Ltd (wholly owned subsidiary) received multiple awards at Tata Motors South Zonal Meeting for Q4FY26 performance:

  • Channel Partner Score SCVPU Winner
  • Best in Customer Support Winner
  • Customer Success Centre Winner
  • SMILE Driver Sales Winner

Company Background

Popular Vehicles and Services Limited operates multi-brand automobile dealerships across 7 states with 208 showrooms/sales outlets, 32 pre-owned vehicle showrooms, 171 authorized service centers, 51 retail outlets, and 26 warehouses. The company represents Maruti Suzuki, Jaguar Land Rover, Audi, Tata Motors, Bharat Benz, and Ather Energy.