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)Key metrics
Price as of 2026-10-16
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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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
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Commercial vehicles | 33.2% | 1,386 Cr | 19 Cr | — |
| Luxury vehicles | 8.0% | 332 Cr | 19 Cr | — |
| Others | 6.4% | 268 Cr | 4 Cr | — |
| Passenger cars (excluding Luxury vehicles) | 52.4% | 2,183 Cr | 32 Cr | — |
What we see
- ✗Net margin is negative — the company is spending more than it earns right now.
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
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,417 Cr | 1,364 Cr | 1,291 Cr | 1,513 Cr | 1,365 Cr | 1,372 Cr | 1,311 Cr | 1,530 Cr | 1,785 Cr | 1,754 Cr | 1,890 Cr |
| Operating expenses (approx.) | 1,356 Cr | 1,301 Cr | 1,246 Cr | 1,459 Cr | 1,334 Cr | 1,347 Cr | 1,278 Cr | 1,485 Cr | 1,734 Cr | 1,701 Cr | 1,832 Cr |
| EBITDA | 61 Cr | 63 Cr | 45 Cr | 54 Cr | 31 Cr | 26 Cr | 33 Cr | 45 Cr | 52 Cr | 53 Cr | 58 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 income | 10 Cr | 8 Cr | 7 Cr | 6 Cr | 4 Cr | 4 Cr | 5 Cr | 4 Cr | 6 Cr | 4 Cr | 14 Cr |
| Interest | 28 Cr | 23 Cr | 20 Cr | 22 Cr | 23 Cr | 21 Cr | 23 Cr | 26 Cr | 28 Cr | 27 Cr | 30 Cr |
| Depreciation | 23 Cr | 24 Cr | 24 Cr | 25 Cr | 25 Cr | 25 Cr | 27 Cr | 27 Cr | 35 Cr | 38 Cr | 40 Cr |
| Profit before tax | 20 Cr | 24 Cr | 8 Cr | 12 Cr | -13 Cr | -16 Cr | -11 Cr | 12 Cr | -7 Cr | -7 Cr | 2 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 profit | 16 Cr | 20 Cr | 5 Cr | 8 Cr | -10 Cr | -14 Cr | -9 Cr | 0.57 Cr | 0.67 Cr | -5 Cr | 1 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
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 2,894 Cr | 3,466 Cr | 4,875 Cr | 5,616 Cr | 5,541 Cr | 6,381 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 2,744 Cr | 3,306 Cr | 4,658 Cr | 5,361 Cr | 5,386 Cr | 6,198 Cr | Sign in free for the trailing twelve months |
| EBITDA | 149 Cr | 160 Cr | 217 Cr | 255 Cr | 155 Cr | 183 Cr | Sign 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 income | 26 Cr | 18 Cr | 18 Cr | 31 Cr | 20 Cr | 20 Cr | Sign in free for the trailing twelve months |
| Interest | 55 Cr | 61 Cr | 71 Cr | 98 Cr | 86 Cr | 103 Cr | Sign in free for the trailing twelve months |
| Depreciation | 72 Cr | 69 Cr | 79 Cr | 92 Cr | 99 Cr | 127 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 47 Cr | 49 Cr | 85 Cr | 98 Cr | -9 Cr | -13 Cr | Sign 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 profit | 32 Cr | 34 Cr | 64 Cr | 76 Cr | -10 Cr | -12 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹5.17 | ₹5.37 | ₹10.22 | ₹12.05 | ₹-1.47 | ₹-1.75 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 0.0% | — | — | 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
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 13 Cr | 13 Cr | 13 Cr | 14 Cr | 14 Cr | 14 Cr |
| Reserves | 233 Cr | 267 Cr | 331 Cr | 639 Cr | 625 Cr | 614 Cr |
| Borrowings | 353 Cr | 372 Cr | 505 Cr | 445 Cr | 423 Cr | 696 Cr |
| Other liabilities | 520 Cr | 611 Cr | 656 Cr | 859 Cr | 843 Cr | 1,059 Cr |
| Total liabilities | 1,119 Cr | 1,263 Cr | 1,504 Cr | 1,957 Cr | 1,905 Cr | 2,383 Cr |
| Fixed assets (net) | 224 Cr | 246 Cr | 294 Cr | 329 Cr | 699 Cr | 444 Cr |
| CWIP | 17 Cr | 12 Cr | 8 Cr | 14 Cr | 8 Cr | 27 Cr |
| Investments | 5 Cr | 6 Cr | 6 Cr | 28 Cr | 14 Cr | 19 Cr |
| Inventories | 312 Cr | 362 Cr | 435 Cr | 593 Cr | 580 Cr | 617 Cr |
| Trade receivables | 161 Cr | 177 Cr | 224 Cr | 297 Cr | 223 Cr | 259 Cr |
| Cash & bank | 56 Cr | 18 Cr | 24 Cr | 55 Cr | 24 Cr | 66 Cr |
| Other assets | 344 Cr | 442 Cr | 514 Cr | 641 Cr | 356 Cr | 950 Cr |
| Total assets | 1,119 Cr | 1,263 Cr | 1,504 Cr | 1,957 Cr | 1,905 Cr | 2,383 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operating activity | 95 Cr | 70 Cr | 109 Cr | 80 Cr | 151 Cr | 100 Cr |
| Cash from investing | -7 Cr | -41 Cr | -80 Cr | -88 Cr | -39 Cr | -146 Cr |
| Cash from financing | -71 Cr | -65 Cr | -24 Cr | 39 Cr | -142 Cr | 87 Cr |
| Net cash flow | 18 Cr | -37 Cr | 5 Cr | 31 Cr | -30 Cr | 42 Cr |
| Free cash flow (OCF − Capex) | 66 Cr | 22 Cr | 52 Cr | -0.79 Cr | 97 Cr | -2 Cr |
Ratios
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 days | 20 | 19 | 17 | 19 | 15 | 15 |
| Inventory days | 39 | 38 | 32 | 39 | 38 | 35 |
| Days payable | 8 | 9 | 7 | 10 | 5 | 6 |
| Cash conversion cycle | 51 | 47 | 42 | 48 | 47 | 44 |
| 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 / equity | 1.44 | 1.33 | 1.47 | 0.68 | 0.66 | 1.11 |
| Current ratio | 1.15 | 1.16 | 1.11 | 1.35 | 1.28 | 1.04 |
| Net debt / EBITDA | 2.00 | 2.20 | 2.22 | 1.53 | 2.57 | 3.44 |