PVSL

Popular Vehicles and Services Limited

Multi-OEM dealership platform for passenger, commercial and electric vehicles

Consumer Discretionary›Automobile and Auto Components›Automobiles›Auto -Dealer

popularmaruti.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹98.59
Market cap
701 Cr
Stock P/E
Loss (TTM EPS ₹-0.34)
P/B
1.12
Dividend yield
0.5%
ROE (FY26)
-2.0%
ROCE (FY26)
6.8%
Operating margin (FY26)
0.9%
Debt / equity (FY26)
1.11
OCF / EBITDA (3Y)
55.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

PVSL (Popular Vehicles and Services) sells and services new passenger cars, luxury cars, commercial vehicles and electric two-wheelers for several vehicle makers through its dealership network, mainly in Kerala and Tamil Nadu.

Company snapshot

2ndBy market cap

Ranked among 2 companies in Auto -Dealer.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 52.4% of revenue

SegmentRevenue shareRevenuePBTAssets
Commercial vehicles
33.2%
1,386 Cr19 Cr—
Luxury vehicles
8.0%
332 Cr19 Cr—
Others
6.4%
268 Cr4 Cr—
Passenger cars (excluding Luxury vehicles)
52.4%
2,183 Cr32 Cr—

What we see

Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,417 Cr1,364 Cr1,291 Cr1,513 Cr1,365 Cr1,372 Cr1,311 Cr1,530 Cr1,785 Cr1,754 Cr1,890 Cr
Operating expenses (approx.)1,356 Cr1,301 Cr1,246 Cr1,459 Cr1,334 Cr1,347 Cr1,278 Cr1,485 Cr1,734 Cr1,701 Cr1,832 Cr
EBITDA61 Cr63 Cr45 Cr54 Cr31 Cr26 Cr33 Cr45 Cr52 Cr53 Cr58 Cr
OPM %4.3%4.6%3.5%3.5%2.2%1.9%2.5%3.0%2.9%3.0%3.1%
Other income10 Cr8 Cr7 Cr6 Cr4 Cr4 Cr5 Cr4 Cr6 Cr4 Cr14 Cr
Interest28 Cr23 Cr20 Cr22 Cr23 Cr21 Cr23 Cr26 Cr28 Cr27 Cr30 Cr
Depreciation23 Cr24 Cr24 Cr25 Cr25 Cr25 Cr27 Cr27 Cr35 Cr38 Cr40 Cr
Profit before tax20 Cr24 Cr8 Cr12 Cr-13 Cr-16 Cr-11 Cr12 Cr-7 Cr-7 Cr2 Cr
Tax %20.3%15.7%34.3%36.2%24.3%15.4%21.2%95.1%110.1%31.3%26.6%
Net profit16 Cr20 Cr5 Cr8 Cr-10 Cr-14 Cr-9 Cr0.57 Cr0.67 Cr-5 Cr1 Cr
EPS (₹)₹2.54₹3.13₹0.77₹1.06₹-1.37₹-1.93₹-1.23₹0.08₹0.09₹-0.70₹0.19

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,894 Cr3,466 Cr4,875 Cr5,616 Cr5,541 Cr6,381 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,744 Cr3,306 Cr4,658 Cr5,361 Cr5,386 Cr6,198 CrSign in free for the trailing twelve months
EBITDA149 Cr160 Cr217 Cr255 Cr155 Cr183 CrSign in free for the trailing twelve months
OPM %5.2%4.6%4.5%4.5%2.8%2.9%Sign in free for the trailing twelve months
Other income26 Cr18 Cr18 Cr31 Cr20 Cr20 CrSign in free for the trailing twelve months
Interest55 Cr61 Cr71 Cr98 Cr86 Cr103 CrSign in free for the trailing twelve months
Depreciation72 Cr69 Cr79 Cr92 Cr99 Cr127 CrSign in free for the trailing twelve months
Profit before tax47 Cr49 Cr85 Cr98 Cr-9 Cr-13 CrSign in free for the trailing twelve months
Tax %31.3%30.6%24.5%22.1%-16.9%6.2%Sign in free for the trailing twelve months
Net profit32 Cr34 Cr64 Cr76 Cr-10 Cr-12 CrSign in free for the trailing twelve months
EPS (₹)₹5.17₹5.37₹10.22₹12.05₹-1.47₹-1.75Sign in free for the trailing twelve months
Dividend payout %———0.0%——Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital13 Cr13 Cr13 Cr14 Cr14 Cr14 Cr
Reserves233 Cr267 Cr331 Cr639 Cr625 Cr614 Cr
Borrowings353 Cr372 Cr505 Cr445 Cr423 Cr696 Cr
Other liabilities520 Cr611 Cr656 Cr859 Cr843 Cr1,059 Cr
Total liabilities1,119 Cr1,263 Cr1,504 Cr1,957 Cr1,905 Cr2,383 Cr
Fixed assets (net)224 Cr246 Cr294 Cr329 Cr699 Cr444 Cr
CWIP17 Cr12 Cr8 Cr14 Cr8 Cr27 Cr
Investments5 Cr6 Cr6 Cr28 Cr14 Cr19 Cr
Inventories312 Cr362 Cr435 Cr593 Cr580 Cr617 Cr
Trade receivables161 Cr177 Cr224 Cr297 Cr223 Cr259 Cr
Cash & bank56 Cr18 Cr24 Cr55 Cr24 Cr66 Cr
Other assets344 Cr442 Cr514 Cr641 Cr356 Cr950 Cr
Total assets1,119 Cr1,263 Cr1,504 Cr1,957 Cr1,905 Cr2,383 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity95 Cr70 Cr109 Cr80 Cr151 Cr100 Cr
Cash from investing-7 Cr-41 Cr-80 Cr-88 Cr-39 Cr-146 Cr
Cash from financing-71 Cr-65 Cr-24 Cr39 Cr-142 Cr87 Cr
Net cash flow18 Cr-37 Cr5 Cr31 Cr-30 Cr42 Cr
Free cash flow (OCF − Capex)66 Cr22 Cr52 Cr-0.79 Cr97 Cr-2 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %17.1%16.8%18.3%17.8%7.2%6.8%
ROE %13.2%12.0%18.7%11.6%-1.6%-2.0%
Debtor days201917191515
Inventory days393832393835
Days payable8971056
Cash conversion cycle514742484744
OCF / EBITDA %63.8%43.5%50.1%31.4%n.m.n.m.
OCF / EBITDA % (3 years)——52.0%40.9%54.2%55.8%
Debt / equity1.441.331.470.680.661.11
Current ratio1.151.161.111.351.281.04
Net debt / EBITDA2.002.202.221.532.573.44