Popular Vehicles and Services · tone and specificity signals across the available quarters.
Language signals
The Q3 FY26 has emerged as the strongest performing quarter after nearly one and a half years of muted performance. The quarter marks a clear inflection point for the business supported by meaningful improvement in customer sentiment and a broad-based recovery in demand across key segments.
We expect EBITDA margins to normalize towards 5% range in FY27 as scale begins to kick in. Full revenue benefits from these initiatives are expected to accrue from FY27 onwards.
Employee cost is higher than EBITDA. Even in this quarter it is around 60 crores EBITDA around 50-60 crores. So how will the shareholder be rewarded? We have given guidance FY27 we should close at least as much as FY24 which is about 76 crores back.
Inventory levels have significantly reduced. We are at close to around 21 days total inventory and new vehicles at 18-19 days. The reason interest cost did not come down is primarily because we were holding higher average inventory during the transition period after GST announcement.
We are targeting consolidated EBITDA margins moving towards 5% range and PAT approaching FY24 levels as scale benefits, operating leverage, and integration benefits begin to reflect in performance.
From Q2 of FY27, we should be having sustainable profitability. Q4 we did expect to have a turnaround.
The revenue growth numbers reported for the full year FY26 versus FY25 comparison across various segments are broadly in line... however, with respect to Q4 FY26, the revenue growth numbers reported in the business update were inadvertently misstated due to an erroneous calculation.