Popular Vehicles & Services Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Passenger cars: 46.2% • Commercial vehicles: 38.8% • Luxury vehicles: 8.5%
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Working capital cycle has improved - days down from 4 to -15
- Company converts assets efficiently - asset turnover of 2.2x
CONS
- Company is loss-making at the operating / net level
- Company has a low return on equity of -4.0% over last 3 years
- Company has a low return on capital employed of 5.8%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.87x)
- Interest coverage is weak at 0.0x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CARTRADE | 3029.30 | 63.31 | 14647.13 | 0.00 | 56.75 | 20.59 | 201.16 | 16.25 | 12.88 | 31.31 |
| LANDMARK | 491.25 | 45.32 | 2036.96 | 0.31 | 14.55 | 97.47 | 1302.36 | 22.66 | 9.19 | 5.53 |
| PVSL | 102.00 | 0.00 | 726.22 | 0.00 | 1.37 | 115.59 | 1889.58 | 44.14 | 7.90 | 3.07 |
| COMPEAU | 363.50 | 10.31 | 223.41 | 0.28 | 3.79 | 41.42 | 658.99 | 48.23 | 9.02 | 3.37 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 561 | 811 | 667 | 605 | 582 | 762 | 645 | 588 | 536 | 707 | 875 | 730 | 922 | |
| 542 | 769 | 640 | 578 | 564 | 741 | 640 | 593 | 532 | 690 | 853 | 717 | 941 | |
| Operating Profit | 19 | 41 | 27 | 27 | 17 | 22 | 4 | -5 | 4 | 17 | 23 | 13 | -19 |
| OPM % | 3.42% | 5.09% | 4.09% | 4.51% | 2.99% | 2.87% | 0.65% | -0.84% | 0.83% | 2.41% | 2.58% | 1.82% | -2.11% |
| 5 | 3 | 7 | 5 | 6 | 9 | 5 | 4 | 5 | 6 | 3 | 5 | 11 | |
| Interest | 12 | 15 | 16 | 12 | 11 | 13 | 14 | 12 | 15 | 17 | 18 | 18 | 19 |
| Depreciation | 12 | 12 | 12 | 12 | 13 | 13 | 13 | 14 | 15 | 15 | 24 | 24 | 25 |
| Profit before Tax | 1 | 17 | 5 | 8 | -0 | 4 | -18 | -27 | -20 | -9 | -17 | -23 | -9 |
| Tax % | 365.57% | 9.20% | 23.35% | -1.19% | 13.95% | 24.48% | 25.42% | 15.78% | 24.59% | 24.02% | 26.17% | 28.27% | 24.16% |
| Net Profit | -2 | 16 | 4 | 8 | -0 | 3 | -13 | -23 | -15 | -7 | -12 | -17 | -7 |
| -0.26 | 2.50 | 0.65 | 1.19 | -0.05 | 0.45 | -1.89 | -3.24 | -2.12 | -0.98 | -1.73 | -2.35 | -0.92 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,331 | 2,261 | 2,253 | 1,839 | 1,692 | 1,866 | 2,514 | 2,644 | 2,577 | 2,849 | 3,235 | |
| 2,275 | 2,208 | 2,207 | 1,782 | 1,608 | 1,783 | 2,396 | 2,527 | 2,536 | 2,789 | 3,201 | |
| Operating Profit | 57 | 53 | 45 | 57 | 84 | 82 | 118 | 117 | 41 | 60 | 34 |
| OPM % | 2.43% | 2.33% | 2.01% | 3.10% | 4.97% | 4.41% | 4.68% | 4.44% | 1.58% | 2.10% | 1.04% |
| 4 | 6 | 13 | 32 | 13 | 12 | 12 | 19 | 24 | 20 | 25 | |
| Interest | 15 | 15 | 23 | 43 | 35 | 39 | 45 | 57 | 53 | 70 | 72 |
| Depreciation | 15 | 16 | 16 | 36 | 39 | 42 | 46 | 48 | 53 | 78 | 89 |
| Profit before Tax | 32 | 28 | 19 | 10 | 22 | 14 | 39 | 31 | -42 | -69 | -58 |
| Tax % | 34.39% | 37.09% | 35.25% | -37.58% | 28.70% | 49.15% | 24.79% | 16.11% | 19.04% | 26.12% | 26.37% |
| Net Profit | 21 | 18 | 12 | 13 | 16 | 7 | 29 | 26 | -34 | -51 | -43 |
| EPS | 63.13 | 52.89 | 10.00 | 10.73 | 12.64 | 5.56 | 4.68 | 3.63 | -4.72 | -7.18 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.79% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 11%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 1%
- 3 Years:
- -4%
- Last Year:
- -12%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 13 | 13 | 13 | 13 | 13 | 14 | 14 | 14 |
| 149 | 166 | 170 | 169 | 184 | 192 | 220 | 478 | 441 | 391 | |
| 78 | 151 | 275 | 375 | 377 | 462 | 470 | 461 | 582 | 821 | |
| Trade Payables | 21 | 13 | 39 | 120 | 34 | 50 | 40 | 109 | 55 | 57 |
| 116 | 85 | 85 | 88 | 88 | 98 | 99 | 149 | 117 | 162 | |
| Total Liabilities | 368 | 419 | 581 | 765 | 696 | 814 | 842 | 1,211 | 1,209 | 1,445 |
| 126 | 127 | 132 | 285 | 288 | 385 | 387 | 427 | 464 | 743 | |
| Capital Work in Progress | 1 | 12 | 28 | 23 | 16 | 12 | 5 | 13 | 8 | 11 |
| 13 | 13 | 50 | 70 | 62 | 62 | 93 | 111 | 115 | 115 | |
| 68 | 79 | 178 | 216 | 143 | 200 | 196 | 292 | 314 | 257 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 89 | 69 | 83 | |
| Cash & Bank | 12 | 26 | 13 | 16 | 38 | 5 | 7 | 35 | 12 | 44 |
| 150 | 163 | 180 | 154 | 150 | 149 | 154 | 243 | 227 | 192 | |
| Total Assets | 368 | 419 | 581 | 765 | 696 | 814 | 842 | 1,211 | 1,209 | 1,445 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 115 | 8 | -65 | 151 | 74 | 35 | 100 | 115 | -39 | 93 | |
| Cash from Investing | -1 | -37 | -37 | -28 | 2 | -27 | -57 | -176 | -12 | -97 |
| Cash from Financing | -115 | 52 | 100 | -116 | -56 | -31 | -30 | 89 | 28 | 35 |
| -6 | 12 | -9 | 3 | 21 | -30 | -1 | 28 | -23 | 32 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Popular Vehicles and Services Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 28, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-29 - Popular Vehicles and Services Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-08-29 - Popular Vehicles and Services Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-28 - Popular Vehicles and Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 28, 2026
2026-08-24 - Popular Vehicles and Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 28, 2026
2026-08-19 - Popular Vehicles and Services Limited has informed the Exchange about Transcript
2026-08-12 - Popular Vehicles and Services Limited has informed the Exchange about Link of Recording
2026-08-12 - Popular Vehicles and Services Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Popular Vehicles and Services Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for PVSL
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