Popular Vehicles & Services Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹658 Cr
- ROE
- -8.28%
- Price to sales
- 0.09
- Debt to equity
- 2.24
- 52W high / low
- ₹155 / ₹84.9
- Sales growth (5Y)
- 17.14%
- EBITDA margin
- 2.99%
- Net profit margin
- -0.82%
- Promoter holding
- 61.38%
- Sales (last year)
- ₹6,960 Cr
Incorporated in 1983, Popular Vehicles and Services Ltd is in the business of sale and service of automobiles, spare parts, finance and insurance commission[1]
Guidance scorecard · Q1 FY27 call
What Popular Vehicles's management guided
and where it ranks in Automobiles
RevenueQ1 FY27 call
20–40%Ask what Popular Vehicles said on revenue →
Full Q1 FY27 analysisMarginsQ1 FY27 call
Up 0–2%See what Popular Vehicles said on margins — free account, 30 seconds.
CapexQ1 FY27 call
None planned- Current Capex is primarily focused on replacement and ongoing projects; no major expansion or acquisition spend planned at this time.
- Financial discipline is a priority; generated cash from operations is primarily used for debt repayment.
- Network expansion included adding new service and sales outlets during Q1, supporting a multi-OEM, multi-state growth strategy.
- No immediate planned strategic acquisitions; focus is on scaling acquired businesses and improving operating leverage.
- Cost optimization efforts include negotiating better terms for consumables such as lubricants and paint.
2 more points from Popular Vehicles's call on capex
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FundraisingQ1 FY27 call
See what Popular Vehicles said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Inquiries are growing approximately 17-20% compared to last year.
- Bookings have shown a higher growth at about 20-22% year-on-year.
- Major markets like Keralam expect higher demand post Onam festival (after August 17).
- Supply constraints exist on EVs (Ather around 5-day stock, JLR constrained) and spare parts, potentially impacting order fulfillment.
2 more points from Popular Vehicles's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Automobiles
on management's own guidance
- Strong growth2
- Strong growth1
- M & MGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Automobiles companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹69,694 Cr | — | |
| 2 | 40%+ | Flat | ₹2,199 Cr | 78.8 | |
| 3 | M & M | 20–40% | Flat | ₹3.53L Cr | 18.4 |
| 4 | 20–40% | Flat | ₹1.99L Cr | 51.7 | |
| 5 | 20–40% | Flat | ₹1.98L Cr | 34.1 | |
| 6 | 20–40% | Flat | ₹16,586 Cr | — |
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Pro shows every company guiding 40%+ revenue growth →Full Automobiles rankingFinancials of Popular Vehicles
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Popular Vehicles
Shareholding breakup across reporting periods.
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 61.18% | 61.18% | 61.18% | 61.18% | 61.18% | 61.18% | 61.18% | 61.18% | 61.36% | 61.38% | 61.38% |
| FIIs + | 7.01% | 16.01% | 14.52% | 12.85% | 12.66% | 10.88% | 10.58% | 10.43% | 10.32% | 10.28% | 10.27% |
| DIIs + | 10.26% | 12.12% | 12.98% | 12.19% | 11.73% | 10.49% | 10.57% | 10.20% | 10.00% | 9.84% | 9.68% |
| Public + | 21.54% | 10.68% | 11.33% | 13.78% | 14.43% | 17.44% | 17.67% | 18.17% | 18.32% | 18.49% | 18.67% |
| No. of Shareholders | 93,690 | 72,611 | 67,273 | 68,160 | 66,109 | 64,486 | 62,434 | 59,734 | 57,769 | 56,810 | 55,569 |
Financials of Popular Vehicles
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,304.88 | 1,628.96 | 1,416.82 | 1,363.71 | 1,291.45 | 1,512.75 | 1,364.67 | 1,372.36 | 1,310.90 | 1,530.38 | 1,785.36 | 1,754.45 | 1,889.58 |
| Expenses + | 1,252.34 | 1,547.55 | 1,355.70 | 1,301.01 | 1,246.47 | 1,459.13 | 1,334.04 | 1,346.54 | 1,277.69 | 1,485.13 | 1,733.56 | 1,701.32 | 1,831.66 |
| Operating Profit | 52.54 | 81.41 | 61.12 | 62.70 | 44.98 | 53.62 | 30.63 | 25.82 | 33.21 | 45.25 | 51.80 | 53.13 | 57.92 |
| OPM % | 4.03% | 5.00% | 4.31% | 4.60% | 3.48% | 3.54% | 2.24% | 1.88% | 2.53% | 2.96% | 2.90% | 3.03% | 3.07% |
| Other Income + | 6.18 | 9.12 | 9.65 | 8.30 | 6.99 | 5.56 | 3.94 | 3.88 | 5.07 | 19.46 | 4.79 | 4.61 | 13.53 |
| Interest | 19.60 | 26.54 | 27.50 | 22.91 | 19.96 | 22.26 | 22.78 | 20.58 | 22.59 | 25.67 | 27.80 | 27.22 | 30.08 |
| Depreciation | 21.01 | 22.71 | 23.29 | 24.22 | 23.72 | 25.07 | 24.68 | 25.33 | 26.81 | 27.38 | 35.43 | 37.73 | 39.51 |
| Profit before tax | 18.11 | 41.28 | 19.98 | 23.87 | 8.29 | 11.85 | -12.89 | -16.21 | -11.12 | 11.66 | -6.64 | -7.21 | 1.86 |
| Tax % | 20.82% | 21.80% | 20.27% | 15.71% | 34.38% | 36.20% | -24.28% | -15.36% | -21.13% | 95.11% | -110.09% | -31.21% | 26.34% |
| Net Profit + | 14.33 | 32.29 | 15.92 | 20.11 | 5.45 | 7.57 | -9.76 | -13.72 | -8.76 | 0.57 | 0.67 | -4.96 | 1.37 |
| EPS in Rs | 2.29 | 5.15 | 2.54 | 2.82 | 0.77 | 1.06 | -1.37 | -1.93 | -1.23 | 0.08 | 0.09 | -0.70 | 0.19 |
Financials of Popular Vehicles
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,902 | 3,172 | 2,894 | 3,466 | 4,875 | 5,616 | 5,541 | 6,381 | 6,960 |
| Expenses + | 3,770 | 3,064 | 2,742 | 3,303 | 4,653 | 5,357 | 5,383 | 6,193 | 6,752 |
| Operating Profit | 132 | 108 | 152 | 163 | 222 | 259 | 159 | 188 | 208 |
| OPM % | 3.4% | 3.4% | 5% | 4.7% | 4.5% | 4.6% | 2.9% | 2.9% | 3.0% |
| Other Income + | 14 | 35 | 26 | 18 | 17 | 33 | 20 | 34 | 42 |
| Interest | 66 | 74 | 58 | 64 | 74 | 102 | 89 | 108 | 111 |
| Depreciation | 48 | 61 | 72 | 69 | 79 | 92 | 99 | 127 | 140 |
| Profit before tax | 32 | 8 | 47 | 49 | 85 | 98 | -9 | -13 | -0 |
| Tax % | 32% | -56% | 31% | 31% | 24% | 22% | 17% | -6% | |
| Net Profit + | 21 | 12 | 32 | 34 | 64 | 76 | -10 | -12 | -2 |
| EPS in Rs | 3.41 | 1.99 | 5.18 | 5.37 | 10.22 | 10.69 | -1.47 | -1.75 | -0.34 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 5% | 0% | 0% |
Financials of Popular Vehicles
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 14 | 14 | 14 |
| Reserves | 185 | 200 | 233 | 267 | 330 | 639 | 625 | 614 |
| Borrowings + | 797 | 645 | 650 | 756 | 938 | 925 | 922 | 1,406 |
| Other Liabilities + | 219 | 276 | 230 | 232 | 229 | 381 | 348 | 353 |
| Total Liabilities | 1,214 | 1,134 | 1,126 | 1,268 | 1,510 | 1,959 | 1,909 | 2,387 |
| Fixed Assets + | 406 | 472 | 464 | 564 | 671 | 733 | 721 | 1,074 |
| CWIP | 28 | 29 | 17 | 12 | 8 | 15 | 9 | 27 |
| Investments | 2 | 11 | 5 | 6 | 6 | 28 | 14 | 19 |
| Other Assets + | 778 | 622 | 640 | 685 | 825 | 1,183 | 1,166 | 1,266 |
| Total Assets | 1,214 | 1,134 | 1,126 | 1,268 | 1,510 | 1,959 | 1,909 | 2,387 |
Financials of Popular Vehicles
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -47 | 339 | 95 | 70 | 109 | 80 | 151 | 100 |
| Cash from Investing Activity + | -50 | -28 | -7 | -41 | -80 | -88 | -39 | -146 |
| Cash from Financing Activity + | 84 | -299 | -71 | -65 | -24 | 39 | -142 | 87 |
| Net Cash Flow | -13 | 13 | 18 | -37 | 5 | 31 | -30 | 42 |
| Free Cash Flow | -99 | 319 | 79 | 26 | 56 | 8 | 154 | 104 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -20% | 323% | 62% | 52% | 61% | 42% | 108% | 68% |
Financials of Popular Vehicles
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 13 | 20 | 19 | 17 | 19 | 15 | 15 |
| Inventory Days | 39 | 40 | 48 | 46 | 39 | 46 | 45 | 41 |
| Days Payable | 8 | 18 | 10 | 11 | 8 | 12 | 6 | 7 |
| Cash Conversion Cycle | 55 | 34 | 58 | 54 | 48 | 53 | 53 | 49 |
| Working Capital Days | -5 | -11 | 3 | 7 | 4 | 14 | 15 | -2 |
| ROCE % | 6% | 11% | 12% | 13% | 14% | 5% | 4% |
Guidance history
How Popular Vehicles's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 0–2% | None planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | None planned | — | Flat |
| Q3 FY26 call → | 10–20% | Up 0–2% | — | — | — |
| Q2 FY26 call → | 10–20% | Up 0–2% | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
14 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −35.9% | 16% |
| Last 6 months | −10.0% | 39% |
| Last 3 months | −13.8% | 34% |
The price is 67% below its all-time high of ₹280.3 (22 Mar 2024). Stocks more than 20% below their peak have their score halved, so 29 became 14.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Popular Vehicles: 0.4 × 16 + 0.4 × 39 + 0.2 × 34 = 29, halved to 14 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Popular Vehicles's management said in earlier quarters
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