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Popular Vehicles and Services operates an integrated automotive dealership platform spanning new passenger, luxury, commercial and electric two-wheeler vehicles, pre-owned cars, servicing, repairs, spare parts, and finance and insurance facilitation. Its network covers seven states with 215 sales touchpoints, 178 authorized service centres, 31 pre-owned outlets, 25 warehouses, and 56 retail outlets.
Q2FY27 demonstrated broad-based operating momentum, with new-vehicle volumes rising 46.4% and total income increasing 36% year-on-year to Rs. 2,093.8 crore. Importantly, organic revenue growth was approximately 26%, indicating that expansion was not driven solely by acquisitions, while EBITDA grew 56.8% and PAT turned positive at Rs. 2.2 crore.
Electric mobility is becoming a meaningful growth engine for Popular Vehicles and Services. Ather-led EV new-vehicle volumes more than doubled year-on-year to 3,685 units, while EV service volumes rose 58.9%; the company is benefiting simultaneously from expanding product availability, a wider dealership footprint, and a growing installed base requiring recurring after-sales support.
The company’s acquisition-led expansion is beginning to produce operating leverage, with Punjab and Telangana businesses reportedly integrated and growing. However, profitability remains structurally thin: Q2FY27 EBITDA margin was 3.7% and PAT margin only 0.1%, making inventory management, working-capital discipline, service mix, and successful scaling of acquired assets critical.
Management reaffirmed FY27 revenue growth guidance of 20–25% and expects earnings momentum to improve. New initiatives, particularly Yanik’s B2B spare-parts marketplace with more than 13,000 verified parts, could diversify revenue over time, although their eventual contribution and profitability are not yet quantified.
Automobiles
Auto -Dealer
683 Cr
Low Risk
-949.0
28.9
—
1.1
160.20
78.50
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stock
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
95.97 | 683 Cr | -949.01 | 1.09 | 0.00 | -0.61 | 3.74 | -0.10 | ||
31.12 | 591 Cr | 159.78 | 2.11 | 0.00 | 1.56 | 2.46 | 0.99 | ||
14.04 | 293 Cr | -77.50 | 8.98 | 0.00 | 13.96 | 13.87 | -6.78 | ||
376.80 | 232 Cr | 10.69 | 0.60 | 0.27 | 5.88 | 7.96 | 2.52 | ||
101.50 | 186 Cr | 13.26 | 1.98 | 0.00 | 48.69 | 28.83 | 13.36 | ||
121.70 | 159 Cr | 19.50 | 3.80 | 0.00 | 11.37 | 13.67 | 7.68 | ||
24.65 | 142 Cr | 11.08 | 1.13 | 0.41 | 10.20 | 12.07 | 5.90 | ||
| Median: 7 Co. | — | 95.97 | 232 Cr | 11.08 | 1.98 | 0.00 | 10.20 | 12.07 | 2.52 |
Financial Results
Popular Vehicles & Services reported Q2 FY27 new vehicle volumes of 19,052 units and total income of Rs. 2,093.8 crore, with growth supported by festive demand, acquisitions and network expansion.
Investor Presentation
Popular Vehicles and Services released an investor presentation covering unaudited Q2 and H1 FY27 results and scheduled an earnings call for 12 November 2026.
Change in Directors/KMP
Popular Vehicles & Services approved the proposed appointment of five independent directors to the boards of its subsidiary companies, subject to appointment by the respective subsidiaries.
Regulatory/Compliance Filing
Popular Vehicles & Services reconstituted its Stakeholders Relationship Committee and Corporate Social Responsibility Committee effective November 11, 2026.
Change in Directors/KMP
Popular Vehicles & Services appointed Adarsh Rajan as Chief Risk Officer effective November 11, 2026, while Gopikrishnan J. continues as Head-Operations, Tamil Nadu.
Financial Results
Popular Vehicles & Services Ltd approved unaudited standalone and consolidated results for Q2 and the half-year ended September 30, 2026, along with committee changes and a new Chief Risk Officer appointment.
Popular Vehicles & Services Ltd (PVSL) is currently trading at 95.99 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Popular Vehicles and Services operates an integrated automotive dealership platform spanning new passenger, luxury, commercial and electric two-wheeler vehicles, pre-owned cars, servicing, repairs, spare parts, and finance and insurance facilitation. Its network covers seven states with 215 sales touchpoints, 178 authorized service centres, 31 pre-owned outlets, 25 warehouses, and 56 retail outlets. Q2FY27 demonstrated broad-based operating momentum, with new-vehicle volumes rising 46.4% and total income increasing 36% year-on-year to Rs. 2,093.8 crore. Importantly, organic revenue growth was approximately 26%, indicating that expansion was not driven solely by acquisitions, while EBITDA grew 56.8% and PAT turned positive at Rs. 2.2 crore. Electric mobility is becoming a meaningful growth engine for Popular Vehicles and Services. Ather-led EV new-vehicle volumes more than doubled year-on-year to 3,685 units, while EV service volumes rose 58.9%; the company is benefiting simultaneously from expanding product availability, a wider dealership footprint, and a growing installed base requiring recurring after-sales support. The company’s acquisition-led expansion is beginning to produce operating leverage, with Punjab and Telangana businesses reportedly integrated and growing. However, profitability remains structurally thin: Q2FY27 EBITDA margin was 3.7% and PAT margin only 0.1%, making inventory management, working-capital discipline, service mix, and successful scaling of acquired assets critical. Management reaffirmed FY27 revenue growth guidance of 20–25% and expects earnings momentum to improve. New initiatives, particularly Yanik’s B2B spare-parts marketplace with more than 13,000 verified parts, could diversify revenue over time, although their eventual contribution and profitability are not yet quantified.
Over the past 52 weeks, Popular Vehicles & Services Ltd has traded between a low of ₹78.50 and a high of ₹160.20. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Popular Vehicles & Services Ltd has a market capitalization of approximately 683.29. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Popular Vehicles & Services Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of -949.01 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 683.29 Cr, Popular Vehicles & Services Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Popular Vehicles & Services Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Popular Vehicles & Services Ltd is -949.01. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Popular Vehicles reported Q2FY27 profit after tax of Rs 2.2 crore. This was above Rs 0.6 crore in Q2FY26 and Rs 1.4 crore in Q1FY27. H1FY27 PAT was Rs 3.6 crore, compared with an Rs 8.2 crore loss in H1FY26.
PVSL reported approximately 26% organic year-on-year revenue-from-operations growth in Q2FY27. Its organic calculation excludes acquisitions and network expansion, while Honda and Piaggio figures were excluded because they were accounted for only until August 2025.
Popular Vehicles reported that services, repairs and spare-parts distribution generated 62% of consolidated FY26 EBITDA. The same combined vertical accounted for 19% of FY26 revenue, with other income included in the presentation’s calculation.
PVSL acquired Globe CV Pvt. Ltd. in Punjab in August 2025, R.K.S. Motor Pvt. Ltd. in Telangana in October 2025, and Olympus Motors Private Limited in Telangana and Andhra Pradesh in December 2025. The acquired OEM businesses were BHARATBENZ, Maruti Suzuki and Audi, respectively.
