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 10-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 30-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
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 Single segment
Description of single segment Passenger vehicle
Start date and time of board meeting 10-02-2026   14:00:00
End date and time of board meeting 10-02-2026   18:00:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
There is no default for any loans or securities during the period ended 31st Decemberr 2025



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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 87,517.30 2,11,893.50
Other income 419.40 1,384.10
Total income 87,936.70 2,13,277.60
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 62,100.50 1,70,540.90
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 12,717.30 7,533.60
(d) Employee benefit expense 6,615.90 18,117.30
(e) Finance costs 1,837.80 4,980.10
(f) Depreciation, depletion and amortisation expense 2,420.90 5,429.90
(f) Other Expenses
1 Rent 265.00 776.90
2 Advertising and sales promotion 625.40 1,696.70
3 Consumables 102.80 293.50
4 Repairs and maintenance 278.10 771.40
5 Housekeeping and security and other contract charges 836.90 2,373.20
6 Power, water and fuel 411.00 1,139.60
7 Travelling and conveyance 223.20 634.10
8 Pre-delivery inspection charges 147.00 389.90
9 Transportation charges 88.10 237.40
10 Other Expenses 845.50 2,978.60
Total other expenses 3,823.00 11,291.30
Total expenses 89,515.40 2,17,893.10
3 Total profit before exceptional items and tax (1,578.70) (4,615.50)
4 Exceptional items (87.00) 28.70
5 Total profit before tax (1,665.70) (4,586.80)
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax (435.60) (1,148.20)
9 Total tax expenses (435.60) (1,148.20)
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 (1,230.10) (3,438.60)
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 (1,230.10) (3,438.60)
17 Other comprehensive income net of taxes 13.80 35.40
18 Total Comprehensive Income for the period (1,216.30) (3,403.20)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
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 -1.73 -4.83
Diluted earnings (loss) per share from continuing operations -1.73 -4.83
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 -1.73 -4.83
Diluted earnings (loss) per share from continuing and discontinued operations -1.73 -4.83
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) Notes to the standalone financial results: 1) The above unaudited standalone financial results of Popular Vehicles and Services Limited (the Company) have been prepared in accordance with and comply in all material aspects with the Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 ( the Act) read with relevant rules issued there under and in terms of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulation), as amended. 2) The above unaudited standalone financial results have been reviewed and recommended by Audit Committee at its meeting held on 10 February 2026. The Board of Directors at their meeting held on 10 February 2026 have approved the above results and taken them on record. The Statutory Auditors of the Company have carried out a review of the standalone financial results as required under Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulation), as amended, and have issued an unmodified review report there on. 3) The Company's operating segments are established in the manner consistent with the components of the Company that are evaluated regularly by the Chief Operating Decision Maker as defined in Ind AS 108 on 'Operating Segments'. The Company is engaged in the business of purchase and sale of passenger cars and related services and there are no separate reportable segments as per Ind AS 108. 4) In the Board of Directors' meeting dated 12 February 2025, the Company's management had committed to a plan to disinvest the Company's stake in its wholly owned subsidiary, Kuttukaran Green Private Limited. Accordingly, the investment in the subsidiary was presented as assets classified as held for sale. The investment value was stated at lower of its carrying amount and its fair value less costs to sell which amounted to Rs. 8.43 million (net of impairment) as at 31 March 2025. The Company entered into a share purchase agreement with Automart Services Private Limited on 29 May 2025 to agree the terms and conditions of the sale and thereafter obtained approval from its shareholders on 04 July 2025 through postal ballot resolution for the disinvestment. Further, on 31 August 2025, the Company has completed the disinvestment for a consideration of Rs. 20 million, thereby, recording a gain of Rs. 11.57 million during the nine months ended 31 December 2025. 5) The current tax charge for the quarter and the year ended 31 March 2025 was an expense provision pertaining to earlier years of Rs. 21.25 million. 6) On November 21, 2025, the Government of India notified the four Labour Codes - The Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour and Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to the changes in regulations. The Company has assessed and accounted the incremental impact of these changes on the basis of actuarial opinion obtained and the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact under 'Exceptional items' in the Statement of standalone financial results for the quarter and nine months ended 31 December 2025. The incremental impact on gratuity of Rs. 6.24 million and long-term compensation absences of Rs. 2.46 million, respectively has arisen due to change in wage definition. The Company continues to monitor the finalization of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. 7) By way of an agreement entered into on 10 October 2025, the Company has taken over the business comprising Maruti Suzuki India Limited dealership on an as-is-where-is basis as a going concern by way of slump sale from R.K.S Motor Private Limited ('the vendor'), Telangana w.e.f 15 October 2025. The aggregate consideration of this acquisition is Rs. 930 million which is payable in tranches. In addition to the above purchase consideration, the Company has also acquired the existing inventories from the vendor as part of this business acquisition at a value of INR 50.02 million. The aforementioned transaction has been considered as a business acquisition in accordance with Indian Accounting Standard 103- Business Combinations. A. Purchase consideration Particulars Amount in Rs million Consideration paid / payable in cash (including for transfer of inventories) (Refer note (i) below) 980.02 B. Identifiable assets acquired Particulars Amount in Rs million Property, Plant and Equipment 915.13 Inventories (including vehicles, spares and accessories) 50.02 Net identifiable assets acquired 965.15 C. Goodwill Particulars Amount in Rs million Purchase consideration(A) 980.02 Less: net identifiable assets acquired (B) 965.15 Goodwill (A - B) 14.87 (i) Of the above purchase consideration, an amount of Rs. 307.40 million is outstanding as at 31 December 2025 which is expected to be paid in the subsequent quarter.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


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 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of net defined benefit plan 18.40 47.30
Total Amount of items that will not be reclassified to profit and loss 18.40 47.30
2 Income tax relating to items that will not be reclassified to profit or loss 4.60 11.90
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
5 Total Other comprehensive income 13.80 35.40