5441442026-04-012026-06-305441442026-04-012026-06-30in-capmkt:OtherExpenses1Member5441442026-04-012026-06-30in-capmkt:OtherExpenses2Member5441442026-04-012026-06-30in-capmkt:OtherExpenses3Member5441442026-04-012026-06-30in-capmkt:OtherExpenses4Member5441442026-04-012026-06-30in-capmkt:OtherExpenses5Member5441442026-04-012026-06-30in-capmkt:OtherExpenses6Member5441442026-04-012026-06-30in-capmkt:OtherExpenses7Member5441442026-04-012026-06-30in-capmkt:OtherExpenses8Member5441442026-04-012026-06-30in-capmkt:OtherExpenses9Member5441442026-04-012026-06-30in-capmkt:OtherExpenses10Member5441442026-04-012026-06-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares544144PVSLNOTLISTEDINE772T01024POPULAR VEHICLES AND SERVICES LIMITEDMain BoardEquity2026-04-012027-03-312026-08-112026-08-06INRMillionsQuarterlyFirst quarterSingle segmentPassenger Vehicles2026-08-1116:00:002026-08-1117:30:00Not applicablefalsefalseThere is no default for any loans or securities during the period ended 30th June 2026. 2026-04-012026-06-30UnauditedStandalone9216880000107910000932479000008447870000-6140300007028200001917500002495800004336100009411600000-868100000-868100000-20970000-209700000-658400000000-65840000-11610000-774500001424000002-0.92-0.9200-0.92-0.92Notes to the standalone financial results: <br /> 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 thereunder 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 /> 2) The above unaudited standalone financial results have been reviewed and recommended by 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 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 thereon. <br /> 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. <br /> 4) 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 /> 5)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 this 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 year ended 31 March 2026. <br /> 6) On 21 November 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 statements for the year ended 31 March 2026. The incremental impact on gratuity of Rs. 6.24 million and long-term compensated 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. <br /> 7) During the quarter ended 30 June 2026, the 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 standalone 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 /> Naveen Philip <br /> Managing Director <br /> DIN: 00018827 <br /> Rent33430000Advertising and sales promotion60150000Office expenses32260000Repairs and maintenance27690000Housekeeping and security and other contract charges88980000Power, water and fuel46200000Travelling and conveyance21690000Pre-delivery inspection charges12800000Transportation charges8280000Other Expenses102130000Remeasurement of net defined benefit plan-15520000-15520000-39100000-11610000