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Popular Vehicles and Services Limited Q3 FY26 earnings call summary

NSE: PVSL · BSE: 544144

Earnings call of 11 Feb 2026, summarised by AI from the filing.

Q3 FY26 total income ₹1,791.8 cr (+30.9% YoY) with PAT of ₹0.7 cr; FY27 EBITDA margin target 5% and PAT approaching FY24 levels.

Key takeaways

  1. Margin change FY26 EBITDA margin guidance lowered to 3.5% from earlier 4% due to acquisition costs and cess provision.
  2. Demand driver GST reforms drove entry-level PV volumes up over 35% year-on-year, reversing 5-6 quarters of weakness.
  3. Key risk Acquisitions and network expansion will pressure margins near-term; full revenue benefits expected from FY27 onwards.

Original filing on BSE

Popular Vehicles and Services Limited Q1 FY27 results

As filed: Revenue ₹1,890 cr (+44% year on year), EBITDA ₹57.9 cr (+70% year on year), PAT ₹1.4 cr, EBITDA margin 3.1% (+47 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,754 cr (+28% year on year), EBITDA ₹53.1 cr (+104% year on year), PAT −₹5.0 cr, EBITDA margin 3.0% (+113 bps). Score 45 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend. EBITDA margin rose 113 bps year on year. Profit fell 840% from last quarter. Share price after the results: −14.1% in 30 days (Nifty 500: +0.9%).
  • Q3 FY26: Revenue ₹1,785 cr (+31% year on year), EBITDA ₹51.8 cr (+67% year on year), PAT ₹0.7 cr, EBITDA margin 2.9% (+63 bps). Score 45 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend. EBITDA margin rose 63 bps year on year. Share price after the results: −25.3% in 30 days (Nifty 500: −7.8%).
  • Q2 FY26: Revenue ₹1,530 cr (+1% year on year), EBITDA ₹46.0 cr (−13% year on year), PAT ₹1.0 cr (−125% year on year), EBITDA margin 3.0% (−50 bps). Score 9 of 100, Below trend. EBITDA margin fell 50 bps year on year. Other income 33% of PBT. Tax rate 92%. Not enough history for a trend yet: scored on growth alone. Share price after the results: −13.0% in 30 days (Nifty 500: −0.8%).
  • Q1 FY26: Revenue ₹1,311 cr (+2% year on year), EBITDA ₹34.0 cr (−24% year on year), PAT −₹9.0 cr (−280% year on year), EBITDA margin 2.6% (−89 bps). Score 18 of 100, Below trend. EBITDA margin fell 89 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 4% from last quarter. Share price after the results: +20.3% in 29 days (Nifty 500: +2.2%).
  • Q4 FY25: Revenue ₹1,372 cr (+1% year on year), EBITDA ₹26.0 cr (−59% year on year), PAT −₹14.0 cr (−170% year on year), EBITDA margin 1.9% (−272 bps). Score 11 of 100, Below trend. EBITDA margin fell 272 bps year on year. Not enough history for a trend yet: scored on growth alone. Share price after the results: +6.6% in 29 days (Nifty 500: +3.3%).
  • Q3 FY25: Revenue ₹1,365 cr (−4% year on year), EBITDA ₹31.0 cr (−49% year on year), PAT −₹10.0 cr (−163% year on year), EBITDA margin 2.3% (−203 bps). Score 10 of 100, Below trend. EBITDA margin fell 203 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 10% from last quarter.
  • Q2 FY25: Revenue ₹1,513 cr, EBITDA ₹53.0 cr, PAT ₹8.0 cr, EBITDA margin 3.5%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹1,513 cr). Scored once a year-earlier consolidated quarter exists.

Past price moves after results do not indicate future moves. Not a recommendation.

Popular Vehicles and Services Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.