Popular Vehicles & Services Reports Mixed Q2 FY26 Results with 1% Revenue Growth
Popular Vehicles & Services Ltd reported a 1% year-over-year revenue growth in Q2 FY26, with total vehicle sales up 2%. Luxury car and commercial vehicle segments showed strong growth at 14% and 19% respectively, while passenger vehicle sales (excluding luxury) declined by 11%. The company expanded its network with new showrooms and service centers across multiple locations. It also acquired R.K.S. Motor Private Limited's business, adding 27 Maruti Suzuki touchpoints in Telangana. The company expects positive momentum to continue into Q3, driven by strong festive season performance.
*this image is generated using AI for illustrative purposes only.
Popular Vehicles & Services Ltd , a leading automotive dealership company, has reported a mixed performance for the second quarter of fiscal year 2026 (Q2 FY26). The company's revenue grew by 1% year-over-year, with varied results across different vehicle segments.
Key Highlights
- Total revenue from operations increased by 1% compared to Q2 FY25
- Total number of vehicles sold grew by 2% year-over-year
- Luxury car segment sales rose by 14%
- Commercial vehicle (CV) segment sales increased by 19%
- Passenger vehicle (PV) sales, excluding the luxury segment, declined by 11%
- Other segments, including electric vehicles (EV) and spare parts distribution, grew by 3%
Segment-wise Performance
| Segment | YoY Growth (Q2 FY26 vs Q2 FY25) |
|---|---|
| Luxury Cars | 14% |
| Commercial Vehicles | 19% |
| Passenger Vehicles (excl. luxury) | -11% |
| Others (EV, Spare Parts) | 3% |
H1 FY26 Performance
For the first half of FY26, Popular Vehicles & Services reported:
- Total revenue growth of 1% compared to H1 FY25
- Luxury car segment growth of 25%
- Commercial vehicle segment growth of 11%
- Passenger vehicle segment (excluding luxury) decline of 9%
- Other segments (EV, spare parts distribution) growth of 8%
- Total number of vehicles sold increased by 1% compared to H1 FY25
Network Expansion
The company has been actively expanding its network, with new operations starting at various locations:
- Nexa showrooms in Thodupuzha and Perumbavoor, Kerala
- Tata Motors CV Service centre in Calicut, Kerala
- Spare parts retail outlets in Kollam and Pathanamthitta, Kerala
- Bharat Benz 3S facilities in Punjab
- Ather 2S facilities in Bangalore, Changrapur, Kamptee, Nagpur, Waluj, and Chennai
Additionally, Popular Vehicles & Services acquired the business of R.K.S. Motor Private Limited through a slump sale, effective from October 15, 2025. This acquisition includes 27 authorized Maruti Suzuki touchpoints across various segments in Telangana.
Business Performance Commentary
The company reported improvement in sales volume and revenue compared to Q1 FY26:
- New vehicle volume sales grew by 37% quarter-on-quarter
- Total revenue from operations increased by 17% quarter-on-quarter
The festive season performance was strong, with growth across markets, particularly in Kerala and Chennai. Entry-level and premium hatchbacks led the growth, supported by demand for SUVs.
Outlook
Popular Vehicles & Services expects the positive momentum to continue into November and December, potentially driving Q3 volume growth. The company anticipates a decline in inventory levels due to retail demand and limited new wholesale inflows by the end of October, with further reductions expected through the remainder of Q3.
It's important to note that these quarterly business updates are on a consolidated basis, and the financial results for Q2 FY26 are subject to review by auditors.
Historical Stock Returns for Popular Vehicles & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.59% | +2.13% | +6.48% | +49.52% | -24.28% | -46.29% |
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