Popular Vehicles Q4FY26 Revenue up 69%, Volumes up 44% YoY

Popular Vehicles and Services Ltd reported a strong business update for Q4 FY26 and the full FY26. Total Revenue from Operations grew 69% YoY in Q4 FY26 and 15% for FY26. New Vehicle Volume Sales increased by 44% YoY in Q4 FY26 and 21% for FY26. Growth was driven by GST reforms and improved sentiment. The company saw strong volume performance across most categories, though luxury segment volumes declined due to an OEM cyber-attack. The service segment declined mid-single digit, offset by higher ASPs. Inventory days reduced to ~29 days. Network expansion included new touchpoints for MSIL, Ather, and BKT distributorships. Higher debt and IndAS adjustments impacted profitability. The update is on a consolidated basis, and financial results are subject to auditor review.