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Informist, Friday, Apr. 17, 2026

--Popular Vehicles: Volumes grew YoY in Q4 across segments, except luxury ops

--Popular Vehicles: New vehicle volume sales up 44% on year in Jan-Mar

--Popular Vehicles: FY26 revenue from ops up 15% on year

--Popular Vehicles: Jan-Mar revenue from ops up 69% on year

AHMEDABAD – Popular Vehicles and Services Ltd.'s consolidated revenue from operations rose 69% year on year in the March quarter and rose 15% on year in 2025-26 (Apr-Mar), the company Friday said in its filing on business update for the March quarter to exchanges.

The company said the strong performance was seen in volumes in FY26, compared to FY25 across all the categories. In the March quarter, compared with same period in FY25, volumes grew across all segments, except the luxury segment. The degrowth in the luxury segment was due to the impact of a cyber-attack at the original equipment maker's end. Growth was aided by goods and services tax reforms announced in September and an overall improvement in sentiment.

The passenger vehicles, excluding luxury segment, faced supply constraints from a key original equipment manufacturer in Kerala in the March quarter. The service segment witnessed a mid-single digit decline in Jan-Mar and FY26 on a year-on-year basis. However, this was partially offset by higher ASPs.

Its new-vehicle inventory days have reduced to 29 days, from 41 days last year, supported by improved sales momentum, particularly in the entry-level car segment, and are now close to the industry average, the company said in its filing. 

For the nine months ended December, the company's net loss was INR 75.18 million, on revenue from operations at INR 46.27 billion. Friday, the company's shares ended at INR 99.26 on the National Stock Exchange, down nearly 1% from the previous close.  End

Reported by Sunil Raghu

Edited by Akul Nishant Akhoury

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