Popular Vehicles and Services Ltd: Q3FY25 Business Update Shows Degrowth in Revenue and Vehicle Sales

Popular Vehicles and Services Ltd, in accordance with SEBI regulations, has released a business update for the quarter ended December 31, 2024. The company reported a de-growth in total revenue from operations by approximately 3% on a YoY basis. The luxury car segment de-grew by ~1%, CV segment de-grew by ~2%, and PV segment (excluding luxury segment) de-grew by ~6%. The total number of vehicles sold also de-grew by ~3% on a YoY basis. In comparison, QoQ growth was seen in luxury car segment, CV segment, and PV segment (excluding luxury segment) by ~13%, ~1%, and ~6% respectively. The total number of vehicles sold also increased by ~5% on a QoQ basis. The company has also expanded its network by inaugurating new studios, service centers, sale outlets, and bodyshops in Kerala. Popular Mega Motors (India) Pvt Ltd, a wholly owned subsidiary, received two awards from Tata Motors for its Chennai branch. The company's inventory levels are currently at ~43 days, down from ~54 days in H1 FY25 and slightly above ~39 days in the same quarter last year. The company was able to reduce its debt by ~17% from H1 FY25 levels due to better inventory management and slight volume growth from its largest OEM in December.