Popular vehicles & services Limited has announced the extension of its credit ratings by CRISIL Ratings Limited, effective from 7th April, 2026. The development reflects the rating agency's continued confidence in the company's financial stability and creditworthiness.

Rating Extension Details

CRISIL Ratings Limited has extended both the long-term and short-term credit ratings for Popular Vehicles & Services Limited. The extension comes with enhanced credit facilities, indicating strengthened financial capacity.

Enhanced Credit Facilities

A significant aspect of this rating extension is the substantial increase in the total bank loan facilities covered under the rating. The enhancement demonstrates the company's expanded borrowing capacity and improved credit profile.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was communicated to both BSE Limited and National Stock Exchange of India Limited on 8th April, 2026.

The extended rating information is also available on CRISIL's official website, providing transparency for stakeholders and investors. This rating extension reinforces Popular Vehicles & Services Limited's financial standing and provides the company with enhanced credit facilities for its operational requirements.

Popular Vehicles & Services Limited has informed stock exchanges about continuing its corporate guarantee of Rs 20,00,00,000 to its wholly owned subsidiary Popular Autoworks Private Limited. The guarantee, extended in favor of Axis Bank Limited, supports the renewal and enhancement of an inventory funding facility under the Jaguar Land Rover DF Scheme.

Corporate Guarantee Details

The company filed the intimation on April 6, 2026, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The guarantee arrangement involves Popular Autoworks Private Limited, which operates as a wholly owned subsidiary of the parent company.

Regulatory Compliance and Disclosure

The disclosure follows SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which mandates specific details for corporate guarantees. The company has confirmed that the transaction is conducted on an arm's length basis, with no direct interest from promoters, promoter group members, or directors of the company.

Impact Assessment

According to the company's assessment, the guarantee provision does not create any immediate impact on the listed entity beyond the disclosure requirements in financial statements. The guarantee supports the subsidiary's operations as part of the consolidated group structure.

Company Operations

Popular Vehicles and Services Limited operates across multiple states including Kerala, Tamil Nadu, Karnataka, and Telangana, with separate GSTIN registrations for each region. The company is headquartered at Kuttukaran Centre, Mamangalam, Kochi, and maintains its corporate website at www.popularmaruti.com .