Popular Vehicles and Services Posts Rs. 10.5 Crore Loss in FY25
By Ankur Chandra | Updated at: May 31, 2025 10:46 PM IST
Popular Vehicles and Services Ltd, one of India’s largest integrated automobile dealership chains, reported a consolidated net loss of ₹10.5 crore for the fiscal year ended March 31, 2025, reversing from a net profit of ₹76.1 crore in FY24. The company attributed the decline to weakened consumer sentiment, elevated inventory costs, and intensified discounting during the festive season.
Key Financial Highlights (₹ in crore)
| Particulars | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Total Income (incl. other) | 5,561.6 | 5,646.7 | -1.5% |
| EBITDA | 175.4 | 286.1 | -38.7% |
| EBITDA Margin | 3.2% | 5.1% | |
| Profit After Tax | -10.5 | 76.1 | |
| PAT Margin | – | 1.3% |
Segment-Wise Performance
New Vehicles
- Volume: 44,087 units (down 5.5% YoY)
- Revenue: ₹4,035 crore (down 2.8%)
- ASP: ₹9.15 lakh (up 2.9%)
Pre-owned Vehicles
- Volume: 10,636 units (flat YoY)
- Revenue: ₹361 crore (up 0.8%)
Services & Repairs
- Volume: 10.42 lakh units (down 1.1%)
- Revenue: ₹894 crore (up 3.3%)
- ASP: ₹8,575 (up 4.4%)
Spare Parts Distribution
- Revenue: ₹264 crore (flat YoY)
Category-Wise Revenue
| Category | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Passenger Vehicles | 3,301.1 | 3,306.6 | -0.2% |
| Commercial Vehicles | 1,882.9 | 1,954.1 | -3.6% |
| Electric Vehicles | 86.8 | 84.8 | +2.4% |
| Others | 270.4 | 270.0 | +0.1% |
Strategic & Operational Updates
- Divestment: Approved the sale of Vision Motors Pvt Ltd (Honda) and Kuttukaran Green Pvt Ltd (Piaggio) for ₹70 crore. The deal is expected to close by July 2025.
- Capex: ₹54.6 crore allocated towards network expansion and maintenance.
- Inventory Management: Controlled fresh intakes and used targeted discounting to normalize stock levels by year-end.
- Kerala: New Ather Space 3.0 and NEXA studios at Thodupuzha and Perumbavoor.
- Karnataka: Entered the market with a ₹9 crore investment in a 3S MSIL facility in Avalahalli, Bengaluru.
- Maharashtra: Expansion with Ather facilities in Nagpur, Chandrapur, and Sambhaji Nagar, set to go live in Q2FY26.
- Tamil Nadu: Opened spare parts outlets in Thalaivasal and Dindigul.
Management Commentary
“FY25 has been a year of introspection, realignment, and foundational reset,” said Mr. Naveen Philip, Promoter and MD. “Despite sector-wide challenges, we realigned operations, optimized inventory, and prepared the ground for focused growth in premium, EV, and service-led verticals. We expect stronger performance ahead.”
About Popular Vehicles and Services
Founded in 1984 and part of the 75-year-old Kuttukaran Group, Popular Vehicles and Services operates over 450 touchpoints across Kerala, Tamil Nadu, Karnataka, and Maharashtra. It represents marquee OEMs including Maruti Suzuki, Honda, JLR, Tata Motors, Bharat Benz, Ather, and Piaggio.
No dividend was declared for FY25.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
REF: https://nsearchives.nseindia.com/corporate/9072530155_29052025231936_IPFINALSD.pdf
