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The Parent and its subsidiaries are collectively referred to as ("the Group"). <br /> 2) The above unaudited consolidated financial results of the Parent 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. <br /> 3) The above unaudited consolidated financial results have been reviewed and recommended by the Audit Committee at its meeting held on 11 August 2026. The Board of Directors at their meeting held on 11 August 2026 have approved the above results and taken them on record. The Statutory Auditors of the Parent have carried out a review of the consolidated 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 thereon. <br /> 4) The Group has reported segment information as per Indian Accounting Standards (Ind AS) 108 on 'Operating Segments'. As per Ind AS 108, segments are identified based on management's evaluation of financial information for allocating resources and assessing performance. The Group has structured its business broadly into four segments – Passenger cars (excluding luxury vehicles), Luxury vehicles, Commercial vehicles and Others. Others primarily comprise spares parts retail sales (including through ecommerce platform) - other than through the respective business segments and sale of electric vehicles - two-wheelers and three-wheelers (upto 31 August 2025). <br /> 5) Figures for the quarter ended 31 March 2026 are the balancing figures between audited figures in respect of full financial year and the published year to date unaudited figures upto the third quarter of the previous financial year. <br /> 6) In the Board of Directors' meeting dated 12 February 2025, the Group management had committed to a plan to disinvest the Company's stake in the investments of Kuttukaran Green Private Limited, a wholly owned subsidiary and Vision Motors Private Limited, the Company's step down subsidiary (a subsidiary of Popular Mega Motors (India) Private Limited). Accordingly, assets amounting to Rs. 1,063.49 million and liabilities amounting to Rs. 537.97 million of the disposal group as at 31 March 2025 were presented as assets held for sale and liabilities held for sale respectively. The Company entered into share purchase agreements 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. The disposal group was stated at lower of its carrying amount and its fair value less costs to sell which amounted to assets worth Rs. 1,323.90 million and liabilities worth Rs. 776.77 million on the dates of sale. Further, on 31 August 2025 and 25 August 2025, the disinvestment has been completed for a consideration of Rs. 20 million for Kuttukaran Green Private Limited and Rs. 680 million for Vision Motors Private Limited, thereby, recording a gain of Rs. 152.87 million during the year ended 31 March 2026. <br /> 7) 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 Group 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 Group has presented such incremental impact under 'Exceptional items' in the Statement of consolidated financial results for the quarter and nine months ended 31 December 2025. The incremental impact on gratuity of Rs. 8.43 million, long term compensated absences of Rs. 4.33 million, provident fund, employee state insurance and statutory bonus collectively of Rs. 0.70 million, respectively has arisen due to change in wage definition. The Group 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. <br /> 8) During the quarter ended 30 June 2026, the Parent Company modified certain leases by executing addendums to the lease agreements, with the lessors in respect of five lease arrangements pertaining to the Telangana region, reducing the lease term from nine years to four years with effect from 1 June 2026. Management assessed the change as a lease modification that is not accounted for as a separate lease under Ind AS 116 'Leases'. Accordingly, the lease liabilities were remeasured as per the provision of Ind AS 116. This has resulted in a net gain of Rs. 54.09 million arising from the remeasurement of the lease liabilities and right-of-use assets which has been recognized as Other income in the Statement of unaudited consolidated results for the quarter ended 30 June 2026. <br /> For and on behalf of the Board of Directors of <br /> Popular Vehicles and Services Limited <br /> <br /> Naveen Philip <br /> Managing Director <br /> DIN: 00018827 <br /> Rent45800000Advertising and sales promotion75840000Office expenses40530000Repairs and maintenance52050000Housekeeping and security and other contract charges133220000Power, water and fuel65390000Travelling and conveyance45320000Pre-delivery inspection charges29090000Transportation charges31500000Other Expenses158520000Passenger cars (excluding Luxury vehicles)9212410000Luxury vehicles1763960000Commercial vehicles6707580000Others121183000018895780000018895780000Passenger cars (excluding Luxury vehicles)104940000Luxury vehicles51980000Commercial vehicles179980000Others-11070000325830000300840000637000018620000Passenger cars (excluding Luxury vehicles)13406760000Luxury vehicles2836070000Commercial vehicles6788480000Others168769000024719000000024719000000Passenger cars (excluding Luxury vehicles)10944720000Luxury vehicles1982150000Commercial vehicles4425420000Others108919000018441480000018441480000Remeasurement of net defined benefit plan-19400000-19400000-4890000-14510000