Integrated Filing — IndAS



General information about company

Scrip Code 544144
NSE Symbol PVSL
MSEI Symbol NOTLISTED
ISIN INE772T01024
Name of company POPULAR VEHICLES AND SERVICES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 10-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 03-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 10-11-2025   14:00:00
End date and time of board meeting 10-11-2025   18:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,53,038.00 2,84,127.90
Other income 417.70 924.20
Total income 1,53,455.70 2,85,052.10
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 1,39,779.50 2,54,543.50
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (7,774.90) (10,107.20)
(d) Employee benefit expense 10,031.50 19,931.10
(e) Finance costs 2,566.80 4,826.20
(f) Depreciation, depletion and amortisation expense 2,738.10 5,418.70
(f) Other Expenses
1 Rent 434.20 822.80
2 Advertising and sales promotion 714.90 1,301.30
3 Consumables 648.40 456.80
4 Repairs and maintenance 429.10 871.20
5 Housekeeping and security and other contract charges 1,120.70 2,237.90
6 Power, water and fuel 540.60 1,110.90
7 Travelling and conveyance 422.40 826.10
8 Pre-delivery inspection charges 267.50 537.10
9 Transportation charges 262.10 505.00
10 Other Expenses 1,637.50 3,244.70
Total other expenses 6,477.40 11,913.80
Total expenses 1,53,818.40 2,86,526.10
3 Total profit before exceptional items and tax (362.70) (1,474.00)
4 Exceptional items 1,528.70 1,528.70
5 Total profit before tax 1,166.00 54.70
6 Tax expense
7 Current tax 1,459.50 1,805.60
8 Deferred tax (350.60) (931.90)
9 Total tax expenses 1,108.90 873.70
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 57.10 (819.00)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 57.10 (819.00)
17 Other comprehensive income net of taxes 35.00 1.50
18 Total Comprehensive Income for the period 92.10 (817.50)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 57.10 (819.00)
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 92.10 (817.50)
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,424.00 1,424.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.08 -1.15
Diluted earnings (loss) per share from continuing operations 0.08 -1.15
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.08 -1.15
Diluted earnings (loss) per share from continuing and discontinued operations 0.08 -1.15
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1UnauditedCFSresultscoveroperationsandresultsofPopularVehiclesandServicesLtdParentitssubsidiariesPopularMegaMotorsIndiaPLtdVisionMotorsPLtdupto25Aug25PopularAutoWorksPLtdPopularAutoDealersPLtdKuttukaranCarsPLtdKuttukaranGreenPLtdupto31Aug25KeraconEquipmentsPtdandPrabalMotorsPLtd.ParentanditssubsidiariesarecollectivelyreferredtoasGroup.2UnauditedcCFSresultsofParenthavebeenpreparedinaccordancewithandcomplyinallmaterialaspectswithINDASnotifiedunderSec133ofCA2013rwrelevantrulesandReg33ofLODR2015asamended.2UnauditedCFSresultshavebeenreviewedandrecommendedbyAuditCommitteeinmeetingheldon10Nov25.Boardatmeetingheldon10Nov25haveapprovedresultsandtakenthemonrecord.StatutoryAuditorsofParenthavecarriedoutareviewofCFSresultsasrequiredunderReg33ofLODR2015asamendedandhaveissuedanunmodifiedreviewreportthereon.3GrouphasreportedsegmentinformationasperIndAS108onOperatingSegments.AsperIndAS108segmentsareidentifiedbasedonmanagementsevaluationoffinancialinformationforallocatingresourcesandassessingperformance.Grouphasstructureditsbusinessbroadlyinto4segmentsPassengercarsexcludingluxuryvehiclesLuxuryvehiclesCommercialvehiclesandOthers.Othersprimarilycomprisessparespartsretailsalesotherthanthroughrespectivebusinesssegmentsandsaleofelectricvehicles2wheelersand3wheelersupto31Aug25.2InBoardmeetingdated12Feb25GroupmanagementhadcommittedtoaplantodisinvestCompanysstakeininvestmentsofKuttukaranGreenPLtdaWOSandVisionMotorsPLtdCompanysstepdownsubsidiaryasubsidiaryofPopularMegaMotorsIndiaPLtd.AccordinglyassetsamountingtoRs.1063.49MnandliabilitiesamountingtoRs.537.97Mnofdisposalgroupasat31Mar25werepresentedasassetsheldforsaleandliabilitiesheldforsalerespectively.CompanyenteredintosharepurchaseagreementswithAutomartServicesPLtdon29May25toagreeTandAofsaleandthereafterobtainedapprovalfromitsshareholderson04July25throughpostalballotresolutionfordisinvestment.Disposalgroupwasstatedatlowerofitscarryingamountanditsfairvaluelesscoststosell.Furtheron31Aug25and25Aug25disinvestmenthasbeencompletedforaconsiderationofRs.20MnforKuttukaranGreenPLtdandRs.680MnforVisionMotorsPLtdtherebyrecordingagainofRs.152.87Mnduringquarterand6monthsended30Sep25.3Currenttaxchargeforquarterandyearended31Mar25includesanexpenseprovisionrelatingtoParentwhichpertainstoearlieryearsamountingtoRs.21.25Mn.4Bywayofanagreemententeredintoon10Oct25ParenthastakenoverbusinesscomprisingMarutiSuzukiIndiaLtddealershiponanasiswhereisbasisasagoingconcernbywayofslumpsalefromRKSMotorPLtdvendorTelangana.AggregateconsiderationofthisacquisitionisRs.930Mnwhichispayableintranches.Till30Sep25ParenthaspaidRs.55.5MnasadvancetovendorandsamehasbeenclassifiedunderOthercurrentassetsinCFSBalancesheetasof30Sep25.Acquisitionhasbeencompletedeffective15Oct25inaccordancewithagreement.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 76,691.40
Capital work-in-progress 1,480.90
Investment property 0.00
Goodwill 1,178.20
Other intangible assets 809.00
Intangible assets under development 60.70
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 1,529.70
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 4,816.70
Total non-current financial assets 6,346.40
Deferred tax assets (net) 3,870.70
Other non-current assets 5,659.60
Total non-current assets 96,096.90
2 Current assets
Inventories 71,063.10
Current financial asset
Current investments 4,745.30
Trade receivables, current 23,169.80
Cash and cash equivalents 4,820.60
Bank balance other than cash and cash equivalents 1,250.80
Loans, current 0.00
Other current financial assets 479.50
Total current financial assets 34,466.00
Current tax assets (net) 70.60
Other current assets 16,522.10
Total current assets 1,22,121.80
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 2,18,218.70
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,424.00
Other equity 61,635.80
Total equity attributable to owners of parent 63,059.80
Non controlling interest
Total equity 63,059.80
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 709.60
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 51,475.60
Total non-current financial liabilities 52,185.20
Provisions, non-current 348.80
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 202.90
Total non-current liabilities 52,736.90
Current liabilities
Current financial liabilities
Borrowings, current 54,637.80
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 460.20
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 22,291.60
Total Trade payable 22,751.80
Other current financial liabilities 7,025.40
Total current financial liabilities 84,415.00
Other current liabilities 17,011.90
Provisions, current 416.00
Current tax liabilities (Net) 579.10
Deferred government grants, Current 0.00
Total current liabilities 1,02,422.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 1,55,158.90
Total equity and liabilites 2,18,218.70
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Passenger cars (excluding Luxury vehicles) 74,438.40 1,34,440.80
2 Luxury vehicles 15,034.80 27,466.30
3 Commercial vehicles 53,942.40 1,03,674.60
4 Others 9,622.40 18,546.20
Total Segment Revenue 1,53,038.00 2,84,127.90
Less: Inter segment revenue 0.00 0.00
Revenue from operations 1,53,038.00 2,84,127.90
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Passenger cars (excluding Luxury vehicles) 746.70 436.20
2 Luxury vehicles 719.00 1,321.40
3 Commercial vehicles 1,022.50 1,977.40
4 Others (241.60) (255.60)
Total Profit before tax 2,246.60 3,479.40
i. Finance cost 2,566.80 4,826.20
ii. Other Unallocable Expenditure net off Unallocable income (1,486.20) (1,401.50)
Profit before tax 1,166.00 54.70
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Passenger cars (excluding Luxury vehicles) 1,25,206.10 1,25,206.10
2 Luxury vehicles 17,763.00 17,763.00
3 Commercial vehicles 60,114.40 60,114.40
4 Others 15,135.20 15,135.20
Total Segment Asset 2,18,218.70 2,18,218.70
Un-allocable Assets 0.00 0.00
Net Segment Asset 2,18,218.70 2,18,218.70
4 Segment Liabilities
Segment Liabilities
1 Passenger cars (excluding Luxury vehicles) 97,504.80 97,504.80
2 Luxury vehicles 12,335.80 12,335.80
3 Commercial vehicles 35,627.90 35,627.90
4 Others 9,690.40 9,690.40
Total Segment Liabilities 1,55,158.90 1,55,158.90
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 1,55,158.90 1,55,158.90
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss (47.00) (2.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 12.00 0.50
5 Total Other comprehensive income 35.00 1.50



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 54.70
Adjustments for reconcile profit (loss)
Adjustments for finance costs 4,826.20
Adjustments for decrease (increase) in inventories (12,997.50)
Adjustments for decrease (increase) in trade receivables, current (1,560.60)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (8,534.20)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 0.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 14,855.80
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 5,418.70
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 505.40
Adjustments for provisions, current (26.90)
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 155.30
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) (273.60)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (42.50)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (1,980.30)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 35.20
Net cash flows from (used in) operations 89.90
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,231.80
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (1,141.90)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 7,000.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 156.40
Purchase of property, plant and equipment 4,883.20
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 47.90
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 4,600.50
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 46.20
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (2,329.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 13,388.80
Repayments of borrowings 355.90
Payments of lease liabilities 4,848.10
Dividends paid 0.00
Interest paid 2,339.70
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 5,845.10
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 2,374.20
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 2,374.20
Cash and cash equivalents cash flow statement at beginning of period 2,446.40
Cash and cash equivalents cash flow statement at end of period 4,820.60