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-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 22-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 29-May-2025   17:00:00
End date and time of board meeting 29-May-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 Declaration of unmodified opinion



Financial Results Ind-AS
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 13723620000 55412290000
Other income 38780000 203630000
Total income 13762400000 55615920000
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 12196050000 47768920000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -329270000 -166890000
(d) Employee benefit expense 973700000 3870840000
(e) Finance costs 205780000 855680000
(f) Depreciation, depletion and amortisation expense 253250000 987870000
(f) Other Expenses
1 Rent 49130000 197250000
2 Advertising and sales promotion 66510000 276390000
3 Consumables 37080000 154440000
4 Repairs and maintenance 47220000 193750000
5 Housekeeping and security and other contract charges 113270000 437740000
6 Power, water and fuel 50450000 198370000
7 Travelling and conveyance 45730000 164980000
8 Pre-delivery inspection charges 29960000 111630000
9 Transportation charges 25590000 101650000
10 Other Expenses 160040000 552780000
Total other expenses 624980000 2388980000
Total expenses 13924490000 55705400000
3 Total profit before exceptional items and tax -162090000 -89480000
4 Exceptional items 0 0
5 Total profit before tax -162090000 -89480000
6 Tax expense
7 Current tax 40470000 135400000
8 Deferred tax -65390000 -120250000
9 Total tax expenses -24920000 15150000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -137170000 -104630000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -137170000 -104630000
17 Other comprehensive income net of taxes -1530000 -6060000
18 Total Comprehensive Income for the period -138700000 -110690000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent -137170000 -104630000
Total profit or loss, attributable to non-controlling interests 0 0
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent -138700000 -110690000
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 142400000 142400000
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve 6245330000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -1.93 -1.47
Diluted earnings (loss) per share from continuing operations -1.93 -1.47
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 -1.93 -1.47
Diluted earnings (loss) per share from continuing and discontinued operations -1.93 -1.47
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) TheaboveauditedconsolidatedfinancialresultscoveroperationsresultsofPopularVehiclesandServicesLtdtheParentitssubsidiariesPopularMegaMotorsIndiaPvtLtdVisionMotorsPvtLtdPopularAutoWorksPvtLtdPopularAutoDealersPvtLtdKuttukaranCarsPvtLtdKuttukaranGreenPvtLtdKeraconEquipments PvtLtd PrabalMotorsPvtLtd.Parentitssub sidiariesarecollectivelyreferredtoastheGroup.2AboveauditedconsolidatedfinancialresultsofPopularVehiclesandServicesLtdtheParenthavebeenpreparedinaccordancewithcomplyinallmaterialaspectswithIndianAccountingStandardsIndASnotifiedunderSec133ofCompaniesAct2013theActreadwithrelevantrulesissuedthereunderintermsofReg33ofSEBILODRReg2015ListingRegulationasamended.3AboveauditedconsolidatedfinancialresultshavebeenreviewedrecommendedbyAuditCommitteeatitsmeetingheldon29May25.BoardofDirectorsattheirmeetingheldon29May25haveapprovedaboveresultstakenthemonrecord.StatutoryAuditorsofParenthavecarriedoutareviewofconsolidatedfinancialsresultsasrequiredunderReg33ofSEBILODRReg2015ListingRegulationasamendedhaveissuedanunmodifiedreviewreportthereon.4GrouphasreportedsegmentinformationasperIndianAccountingStandardsIndAS108onOperatingSegments.AsperIndAS108segmentsareidentifiedbasedonmanagementsevaluationoffinancialinformationforallocatingresourcesassessingperformance.Grouphasstructureditsbusinessbroadlyinto4segmentsPassengercarsexcludingluxuryvehiclesLuxuryvehiclesCommercialvehiclesOthers.Othersprimarilycomprisessparespartsretailsalesotherthanthroughrespectivebusinesssegmentssaleofelectricvehiclestwowheelersthreewheelers.5Figuresforquarterended31March2531March24arebalancingfiguresbetweenauditedfiguresinrespectoffullfinancialyearpublishedyeartodateunauditedfiguresuptothirdquarteroftherespectivefinancialyears6ParentheldlandbuildingshavingnetbookvalueofRs.15.42mnasAssetsHeldforSaleinearlieryears.ParentreceivedanamountofRs.31.47mnon01June23astotalcompensationtowardssaleofland.NetgainofRs.16.05mnonaccountofthistransactionhadbeendisclosedasanexceptionaliteminstatementofconsolidatedfinancialresultsforsixmonthsended30Sept23consolidatedfinancialresultsforyearended31March24.7Currenttaxchargeforquarteryearended31March25isexpenseprovisionpertainingtoearlieryearsofRs.21.25mn.8ParentsshareofpublicissueexpensesestimatedtobeRs.178.01mnwereadjustedinSecuritiesPremiumAccountasat31March24.During6monthsperiodended30Sept24consideringactualIPOexpenditureincurredduetofinalisationofcertainprovisionsanamountofRs.2.45mnhasbeenaddedbackinSecuritiesPremiumAccount.9InBoardmeetingdated12Feb25GroupmanagementhascommittedtoaplantodivestCompanysstakeininvestmentsofKuttukaranGreenPvtLtdwhollyownedsubsidiaryVisionMotorsPvtLtditsstepdownsubsidiary.AccordinglyassetsamountingtoRs1063.6mnliabilitiesamountingtoRs537.96mnofdisposalgroupasat31March25havebeenpresentedasassetsheldforsaleliabilitiesheldforsalerespectively.EffortsfordivestmenthavestartedasaleisexpectedbyhalfyearofFY2526.Disposalgroupwasstatedatlowerofitscarryingamountitsfairvaluelesscoststosell. n



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 6992120000
Capital work-in-progress 78880000
Investment property 0
Goodwill 115470000
Other intangible assets 97560000
Intangible assets under development 6600000
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 140090000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 399760000
Total non-current financial assets 539850000
Deferred tax assets (net) 297680000
Other non-current assets 461170000
Total non-current assets 8589330000
2 Current assets
Inventories 5803870000
Current financial asset
Current investments 0
Trade receivables, current 2229540000
Cash and cash equivalents 244640000
Bank balance other than cash and cash equivalents 65710000
Loans, current 0
Other current financial assets 64130000
Total current financial assets 2604020000
Current tax assets (net) 37710000
Other current assets 947220000
Total current assets 9392820000
3 Non-current assets classified as held for sale 1063490000
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 19045640000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 142400000
Other equity 6245330000
Total equity attributable to owners of parent 6387730000
Non controlling interest 0
Total equity 6387730000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 18300000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 4597870000
Total non-current financial liabilities 4616170000
Provisions, non-current 57530000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 120180000
Total non-current liabilities 4793880000
Current liabilities
Current financial liabilities
Borrowings, current 4213150000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 56150000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 771080000
Total Trade payable 827230000
Other current financial liabilities 633440000
Total current financial liabilities 5673820000
Other current liabilities 1617280000
Provisions, current 34820000
Current tax liabilities (Net) 140000
Deferred government grants, Current 0
Total current liabilities 7326060000
3 Liabilities directly associated with assets in disposal group classified as held for sale 537970000
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 12657910000
Total equity and liabilites 19045640000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
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-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
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) 6472510000 28305660000
2 Luxury vehicles 1384820000 4705210000
3 Commercial vehicles 4973220000 18829170000
4 Others 893070000 3572250000
5 Reclassified for asset held for sale 0 0
Total Segment Revenue 13723620000 55412290000
Less: Inter segment revenue 0 0
Revenue from operations 13723620000 55412290000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Passenger cars (excluding Luxury vehicles) -110060000 214360000
2 Luxury vehicles 71120000 261160000
3 Commercial vehicles 72340000 266650000
4 Others 18310000 57090000
5 Reclassified for asset held for sale 0 0
Total Profit before tax 51710000 799260000
i. Finance cost 205780000 205780000
ii. Other Unallocable Expenditure net off Unallocable income 8020000 8020000
Profit before tax -162090000 -89480000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Passenger cars (excluding Luxury vehicles) 10177190000 10177190000
2 Luxury vehicles 1417110000 1417110000
3 Commercial vehicles 4967880000 4967880000
4 Others 1419970000 1419970000
5 Reclassified for asset held for sale 1063490000 1063490000
Total Segment Asset 19045640000 19045640000
Un-allocable Assets 0 0
Net Segment Asset 19045640000 19045640000
4 Segment Liabilities
Segment Liabilities
1 Passenger cars (excluding Luxury vehicles) 7763820000 7763820000
2 Luxury vehicles 894930000 894930000
3 Commercial vehicles 2630580000 2630580000
4 Others 830610000 830610000
5 Reclassified for asset held for sale 537970000 537970000
Total Segment Liabilities 12657910000 12657910000
Un-allocable Liabilities 0 0
Net Segment Liabilities 12657910000 12657910000
Disclosure of notes on segments



Other Comprehensive Income
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-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
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 2040000 8090000
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 -510000 -2030000
5 Total Other comprehensive income -1530000 -6060000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -89480000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 855680000
Adjustments for decrease (increase) in inventories -182650000
Adjustments for decrease (increase) in trade receivables, current 664120000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 197380000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 0
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -615240000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 987870000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 38600000
Adjustments for provisions, current 15760000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 34530000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -12230000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items -113700000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 1801060000
Net cash flows from (used in) operations 1711580000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 203560000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities 1508020000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 43230000
Purchase of property, plant and equipment 529550000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 8220000
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 6700000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 94330000
Net cash flows from (used in) investing activities -393510000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 84910000
Repayments of borrowings 235120000
Payments of lease liabilities 836170000
Dividends paid 35560000
Interest paid 397460000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities -1419400000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -304890000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -304890000
Cash and cash equivalents cash flow statement at beginning of period 549530000
Cash and cash equivalents cash flow statement at end of period 244640000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 B S R and Associates LLP Yes 31-Jul-2025