Popular Vehicles and Services Limited — Q1FY27 earnings call summary

Filed 12 August 2026 · Company audio recording

CV volume growth dilutes blended EBITDA margin potential below 5% target.
Festive season demand strong; inquiries +20% YoY, bookings +22% YoY; growth expected to continue in H2 FY27.
Acquisitions currently drag PAT due to depreciation and finance costs; expected to normalize by Q4 FY27.
Acquisitions (RKS Maruti, Globe Bharat Benz, Audi) scaling; sustainable PAT profitability expected from Q2 FY27.
Revenue guidance for FY27 at ₹8,200-8,300 cr (+20-25% YoY); blended EBITDA margin target ~4%, below earlier 5% due to higher CV mix.
PV segment EBITDA margin ~4%, CV ~3.75%, EV ~3.4%; margin expansion expected from Q2 with improved service volumes and operating leverage.
Commercial vehicle tipper segment demand weak due to construction slowdown and environmental restrictions.
Q1 FY27 revenue grew 44% YoY to ₹2,890 cr; vehicle volumes up 81%, service volumes stable.