Popular vehicles & services Limited has announced the immediate closure of its wholly-owned subsidiary Popular Auto Dealers Private Limited's JCB dealership operations, effective January 28, 2026. The decision marks the end of the subsidiary's role as an authorized distributor for JCB India Limited, covering both sales and service operations.

Financial Impact and Business Contribution

The closure affects a business segment with measurable financial contribution to the parent company's operations. The JCB dealership operations generated specific revenue figures during the last financial year.

Reasons for Closure

The company has attributed the closure to operational and strategic challenges that made the business unsustainable. The primary factors cited include:

• Lower profit margins in the JCB dealership business
• Foreseen challenges in maintaining business viability
• Strategic decision to discontinue operations rather than continue with reduced profitability

Regulatory Compliance and Timeline

The closure has been executed in compliance with regulatory requirements under SEBI regulations. Popular Vehicles and Services Limited filed the necessary disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The subsidiary's board approved the closure decision, marking the complete discontinuation of JCB-related business operations. No binding agreements for sale of the unit or division were involved in this closure, as the company opted for direct cessation of operations rather than a transfer or sale arrangement.