Popular Vehicles and Services Ltd. released its Q1 FY26 results on 14th August 2025, showing a mixed performance. While the company reported a marginal increase in revenue on a consolidated basis, profitability took a sharp hit. The company posted a consolidated PAT of -₹8.76 crore, a steep decline compared to the profit of ₹5.45 crore in the same quarter last year.
The numbers highlight the company’s challenges in cost management and margins, even as revenue showed resilience.
Popular Vehicles Q1 FY26 Consolidated Performance
For the quarter ended 30th June 2025, consolidated performance was as follows:
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Revenue from Operations: ₹1,310.90 crore vs ₹1,291.45 crore in Q1 FY25 (+1.51% YoY)
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Profit Before Tax (PBT): ₹38.29 crore vs ₹51.97 crore in Q1 FY25 (-26.34% YoY)
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Profit After Tax (PAT): -₹8.76 crore vs ₹5.45 crore in Q1 FY25 (-260.75% YoY)
This indicates that while revenues inched up, profitability was significantly impacted, turning into a net loss due to higher expenses and weaker margins.
Popular Vehicles Q1 FY26 Standalone Performance
Standalone results were weaker than consolidated numbers:
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Revenue from Operations: ₹536.42 crore vs ₹581.84 crore in Q1 FY25 (-7.81% YoY)
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Profit Before Tax (PBT): ₹9.36 crore vs ₹23.76 crore in Q1 FY25 (-60.60% YoY)
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Profit After Tax (PAT): -₹15.08 crore vs -₹0.37 crore in Q1 FY25 (-4021.58% YoY)
The decline in standalone revenue and heavy losses underline challenges in the company’s core operations.
Key Highlights of Q1 FY26
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Consolidated revenue rose 1.51% YoY to ₹1,310.90 crore.
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Consolidated PAT fell sharply to -₹8.76 crore from ₹5.45 crore last year.
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Standalone revenue declined 7.81% YoY to ₹536.42 crore.
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Standalone PAT worsened to -₹15.08 crore from -₹0.37 crore.
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Margins compressed, showing profitability pressures despite steady top-line growth.
Share Price Performance
On 18th August 2025, Popular Vehicles shares opened at ₹122.20 per share but soon slipped, trading at ₹119.12 per share.
Long-term performance paints a weak picture:
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1-Year Return: -47.53%
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5-Year Return: -57.55%
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Since Listing/Maximum: -57.55%
The share has struggled to create value for investors, with significant underperformance relative to the broader market.
Analyst Expectations Post Q1
Despite weak profitability, analysts expect some potential upside if the company improves cost management and margins:
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Upside Target: ₹244 per share in the next year.
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Downside Risk: ₹90 per share if challenges persist.
Analysts caution that volatility remains high, and investors should approach with careful research before making commitments.
Conclusion
Popular Vehicles Q1 FY26 results underline the challenges of balancing revenue growth with profitability. While the top line showed resilience with a slight YoY increase, the company slipped into losses at both consolidated and standalone levels.
With shares already trading at depressed levels, recovery will depend on how effectively Popular Vehicles can manage costs, improve margins, and leverage scale. Analysts expect potential upside, but risks remain significant.
Investors should view this as a high-risk, high-volatility stock, suitable only for those with a higher risk appetite.
