Popular Vehicles & Services Limited , a prominent player in the automotive retail sector, has successfully completed the appointment of Mr. Murali Narayanan as an Independent Director through a postal ballot process, marking a significant milestone in the company's board restructuring efforts.

Postal Ballot Results

The company announced the completion of its postal ballot process with overwhelming shareholder support. The remote e-voting concluded on December 29, 2025, at 5:00 PM (IST), with the scrutinizer submitting the final report on December 30, 2025.

Director Appointment Details

Mr. Murali Narayanan (DIN: 11356917) has been appointed as Non-Executive Independent Director effective December 29, 2025, for a period of five years. The appointment was approved through a special resolution via postal ballot, and the company confirmed that he is not disqualified from holding the office of Director pursuant to section 164 of the Companies Act, 2013.

Director Profile and Expertise

Mr. Murali Narayanan brings extensive global experience as a seasoned technology leader with expertise in artificial intelligence, modern engineering, automation, and cloud strategy. He has held senior leadership roles in multinational organizations, including GSK and Dell Technologies, where he led large, diverse teams and delivered significant improvements in reliability, efficiency, and digital capability.

His professional background spans strategic technology adoption, operational excellence, and building resilient, AI-enabled enterprise environments. As a recognized innovator, he holds multiple patents and has contributed widely through research publications. As a Certified Independent Director, he combines strong governance perspective with deep technical insight and continues to advance his academic pursuits through ongoing research in data, artificial intelligence, and emerging technologies.

Regulatory Compliance

The postal ballot process was conducted in accordance with Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer, M.C. Sajumon (Membership No: A9868), a Practising Company Secretary, was appointed by the Board of Directors on November 10, 2025, to oversee the transparent voting process.

Strategic Corporate Actions

The company has undertaken several strategic initiatives alongside the board restructuring:

Looking Forward

With the successful completion of the board restructuring and appointment of an experienced technology leader, Popular Vehicles & Services appears focused on strengthening its governance structure while leveraging digital transformation capabilities. The company's ability to secure overwhelming shareholder support for governance changes, combined with its strategic acquisitions and the new director's expertise in AI and modern engineering, positions it for potential operational improvements in the competitive automotive retail sector.

Popular Vehicles & Services has announced that its subsidiary Imperion Cars Private Limited has secured three Letters of Intent (LOIs) from Audi India for retail operations across Telangana and Andhra Pradesh. Imperion Cars is a wholly-owned subsidiary of Popular Mega Motors (India) Private Limited, which is itself a subsidiary of Popular Vehicles & Services.

Strategic Partnership and Facility Details

The LOIs enable the company to take over the business of existing Audi dealers in these states, marking the commencement of a new dealer relationship with the premium luxury automobile brand. The partnership will establish a total of 5 Audi touchpoints across both states.

Market Expansion Strategy

This development represents an important milestone in the company's growth strategy and strategic expansion of its luxury portfolio, building on its existing presence through Jaguar Land Rover. The Hyderabad facility reinforces the company's recent expansion in Telangana, while establishments in Visakhapatnam and Vijayawada mark the company's entry into Andhra Pradesh.

The company will have an exclusive Audi presence in both Visakhapatnam and Vijayawada, strengthening its position in these key, high-growth markets.

Management Commentary

Commenting on this development, Mr. Naveen Philip, Promoter and MD of Popular Vehicles and Services Limited, stated: "We are pleased to announce the commencement of our relationship with Audi India, further expanding our luxury segment portfolio. This partnership represents an important milestone in our journey as we continue to strengthen our presence in high-growth markets."

He further added: "The addition of Audi aligns well with our strategy of diversifying beyond our traditional geographies, while also strengthening our position in existing markets. We believe the luxury car market in these regions offers significant long-term potential."

Company Overview

Popular Vehicles and Services Limited operates multi-brand automobile dealerships across six states with an extensive network comprising 56 showrooms, 139 sales outlets and booking offices, 33 pre-owned vehicle showrooms, 159 authorized service centers, 50 retail outlets, and 25 warehouses. The company operates passenger vehicle dealerships of Maruti Suzuki India Limited, Jaguar Land Rover India Limited, commercial vehicle dealership of Tata Motors and Bharat Benz, and Ather Energy in the electric vehicle space.