Popular Vehicles and Services Limited will conduct a virtual group meeting with investors and analysts on October 15, 2026. The session is scheduled to begin at 1:00 pm IST and is organized by Citi Research.

The company informed the stock exchanges that the interaction will be based strictly on publicly available information. No unpublished price-sensitive information (UPSI) is intended to be discussed during the meeting.

Meeting Details

The event is structured as a group meeting for participants from the investment community. The following table outlines the key logistical details:

Disclosure Compliance

This intimation is filed pursuant to Regulation 30 and other relevant provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that changes to the schedule may occur due to exigencies on the part of investors, analysts, or the company itself.

Popular Vehicles and Services Ltd announced that Mr. John K. Paul has resigned from the directorship of five subsidiaries, effective October 8, 2026. This move follows the execution of a Family Settlement Agreement among promoters to restructure ownership and voting rights.

The resignation covers Prabal Motors Private Limited (a material subsidiary), Popular Autoworks Private Limited, Kuttukaran Cars Private Limited, Popular Auto Dealers Private Limited, and Keracon Equipments Private Limited. The filing, made under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, clarifies that the listed entity is not a party to the inter-se family arrangement. The settlement aims to preserve family unity while allowing distinct strategic visions for different business verticals.

Key Provisions of the Settlement

The agreement outlines a phased transfer of shareholding and a clear division of operational control. Mr. John K. Paul will resign from the Board of Directors of the listed entity and its subsidiaries. His current holding of 20.39% in the company will be transferred to the continuing promoters in multiple tranches on or before December 31, 2029.

Mr. Francis K. Paul and Mr. Naveen Philip will retain ownership and control of the listed entity and its subsidiaries. Conversely, the outgoing promoter will take charge of specific partnerships, educational trusts, and other companies within the family business structure. A non-compete clause restricts the outgoing promoter from entering competing businesses in the same locations.

Promoter Shareholding Structure

The following table details the current holdings and roles of the promoters involved in the settlement:

Subsidiary Resignations

Mr. John K. Paul tendered his resignation from the following entities pursuant to the Family Settlement intimated to stock exchanges on October 5, 2026:

• Prabal Motors Private Limited (Material Subsidiary)
• Popular Autoworks Private Limited
• Kuttukaran Cars Private Limited
• Popular Auto Dealers Private Limited
• Keracon Equipments Private Limited

In his resignation letters, Mr. Paul stated that the departure is strictly pursuant to the inter-se family settlement agreement and there are no other material reasons for his exit. He expressed gratitude to the board and employees for their support.

What the Numbers Show

The promoter group currently holds a combined stake of approximately 61.19% (20.39% + 20.39% + 20.41%). The transfer of Mr. John K. Paul’s entire 20.39% stake implies that upon completion, the remaining two promoters will consolidate this holding. Given their individual stakes are nearly identical (20.39% and 20.41%), the final distribution between them will determine the ultimate balance of power within the promoter group. The agreement stipulates that the outgoing promoter must cast his vote in favor of the family decision until the transfer is complete, ensuring continuity in governance during the transition period ending December 2029.

Operational and Brand Continuity

Despite the change in promoter status, the brand identity remains intact. The trade names "Kuttukaran" and "Popular" will continue to be used by all family members. The logo of the listed entity is explicitly protected from transfer, even if the business is sold to third parties. Additionally, the company and its subsidiaries will continue to avail training services from Kuttukaran Polytechnic College and the Kuttukaran Institute for Human Resource Development, maintaining existing operational dependencies.

Commenting on the development, Mr. Naveen Philip, Managing Director, stated that the settlement reflects the strength of family bonds and a shared commitment to doing what is right for everyone involved. He thanked Mr. John K. Paul for his contributions and affirmed that the focus remains on delivering quality and value to customers, partners, and employees.