Popular Vehicles and Services earnings calls.

Popular Vehicles & Services Ltd (PVSL) delivered a recovery in Q4 FY26 with revenue up ~28Current 28 crore vs previous available quarter 30.9 crore.% YoY, driven by improving demand post GST reforms in the entry-level PV segment and strong CV volume growth (+59% YoY). The company completed three strategic acquisitions (Barat Ban-TATA in Punjab, Maruti in Telangana, Audi in Telangana/Andhra Pradesh) during FY26, expanding its OEM portfolio and geographic footprint. EBITDA of ₹57.5 croreCurrent reported value: EBITDA of ₹57.5 crore. No comparable prior figure is available in the source record. in Q4 represents 93.5% YoY growth but with EBITDA margin of only 3.3%Current reported value: EBITDA margin of only 3.3%. No comparable prior figure is available in the source record., reflecting cost pressures from recent acquisitions and new market entries. FY26 EBITDA stood at ₹203.4 croreCurrent reported value: ₹203.4 crore. No comparable prior figure is available in the source record. with margin compression. The CEO announced his resignation, creating leadership transition risk. Management targets ~5% consolidated EBITDA marginCurrent reported value: ~5% consolidated EBITDA margin. No comparable prior figure is available in the source record. and high double-digit revenue growth for FY27, expecting profitability to sustainably return from Q2 FY27 onward. Key risks include execution challenges in newly acquired businesses, persistent service volume decline (-14% YoY in PV services), and inventory management amid geopolitical headwinds.