Popular Vehicles & Services Limited announced its unaudited financial results for the quarter ended December 31, 2025, along with significant board-level decisions during its meeting held on February 10, 2026.

Financial Performance Overview

The company's standalone operations showed mixed results for Q3FY26. While revenue from operations increased to Rs 8,751.73 million from Rs 6,445.91 million in the corresponding quarter of the previous year, the company continued to report losses.

Nine-Month Performance

For the nine months ended December 31, 2025, the standalone operations reported revenue of Rs 21,189.35 million compared to Rs 19,889.25 million in the corresponding period of the previous year. The net loss for the nine-month period stood at Rs 343.86 million against Rs 105.61 million in the previous year.

Board Decisions and Leadership Changes

The Board of Directors approved several important resolutions during their meeting:

Leadership Appointments:

• Recommended re-appointment of Mr. John Kuttukaran Paul (DIN: 00016513) as whole-time director via postal ballot
• Noted Mr. Francis Kuttukaran Paul's (DIN: 00018825) decision not to seek re-appointment upon conclusion of his term ending March 31, 2026
• Approved convening a postal ballot for shareholders' approval of John Paul's re-appointment

Senior Management Designations: Three executives were designated as Senior Management Personnel:

• Mr. Aamir Ahmed, Deputy Chief Executive Officer (Telangana & Karnataka)
• Mr. N C Dilip Kumar, Group Head Marketing
• Mr. Gopikrishnan J, Head Operations- Tamil Nadu

Committee Restructuring

The Board approved comprehensive restructuring of key committees effective February 10, 2026:

Nomination and Remuneration Committee:

Stakeholders Relationship Committee:

Risk Management Committee:

Business Acquisitions and Exceptional Items

The company completed a significant business acquisition during the quarter, taking over a Maruti Suzuki India Limited dealership from R.K.S Motor Private Limited in Telangana for Rs 930.00 million. The transaction resulted in goodwill of Rs 14.87 million.

Exceptional items for the quarter included Rs 8.70 million impact from new Labour Codes implementation, reflecting statutory changes in wage definitions affecting gratuity and long-term compensation benefits.

Consolidated Performance Highlights

On a consolidated basis, the company showed improved performance with revenue from operations reaching Rs 17,853.64 million in Q3FY26 compared to Rs 13,646.72 million in Q3FY25. The consolidated results benefited from disinvestment gains of Rs 152.87 million during the nine-month period from the sale of subsidiaries Kuttukaran Green Private Limited and Vision Motors Private Limited.

The company's segment-wise performance showed strength across passenger cars, luxury vehicles, and commercial vehicles, with the commercial vehicles segment contributing Rs 6,986.04 million in revenue for the quarter.

Popular Vehicles & Services has announced a key leadership change in its service department, with Vice President of Service Mr. P. Jayaprakash set to resign from his position by April 30, 2026. The company has formally communicated this development to stock exchanges through a regulatory filing dated February 6, 2026.

Executive Departure Details

Mr. P. Jayaprakash submitted his resignation notice on February 5, 2026, citing personal reasons for his decision to step down from the Vice President of Service position. The resignation will take effect from April 30, 2026, providing the organization with nearly three months for succession planning and transition arrangements.

Regulatory Compliance

The company has fulfilled its regulatory obligations by informing both BSE Limited and National Stock Exchange of India Limited about this senior management personnel change. The intimation was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, which mandates disclosure of material events and information.

Impact on Service Operations

In his resignation letter, Mr. Jayaprakash expressed gratitude for his tenure with Popular Vehicles & Services, describing it as "an incredible journey" and acknowledging the opportunities for growth and collaboration. He emphasized his commitment to ensuring a smooth transition during the notice period and expressed willingness to assist in any way necessary.

The Vice President of Service role is critical within Popular Vehicles & Services' organizational structure, overseeing service department operations and customer service initiatives across the company's network. The advance notice period allows the company sufficient time to identify a suitable replacement and ensure continuity in service operations.