Popular Vehicles & Services Ltd (PVSL), part of the Kuttukaran Group, is an integrated automobile dealership company established in 1983. It is engaged in new and pre-owned vehicle sales, servicing and repairs, spare parts distribution, and facilitation of third-party financial and insurance products. Headquartered in Kochi, India, the company has significant operations across Kerala and Tamil Nadu. PVSL is recognized as a leading diversified automotive dealership in India in terms of revenue, with a comprehensive presence across the automotive retail value chain. The company operates through four primary segments: Passenger Cars (excluding luxury vehicles), Luxury Vehicles, Commercial Vehicles, and Others.
Popular Vehicles & Services Ltd reported a market capitalization of ₹866.62 Crore as of July 2025, with other sources indicating approximately ₹869 Crore as of June 18, 2025.
Recent Financial Results:
- Quarter ended March 2025 (Q4FY25):
- Net Sales: ₹1,372 Crore
- Net Profit: -₹14 Crore
- Revenue for March 2025 was ₹1,376 crore, slightly up from ₹1,368 crore in December 2024.
- Full Year ended March 2025:
- Total Revenue: ₹5,541.23 crore (a slight decrease from ₹5,615.53 crore in March 2024).
- Net Profit: -₹10.46 crore (compared to a profit of ₹76.08 crore in March 2024).
- Market Capitalization: ₹866.62 Crore (as of July 2025)
- PE Ratio: 0 (as of 20/6/2025)
- PB Ratio: 1.9 (as of 20/6/2025)
- Dividend Yield: 0.38%
- Return on Equity: -1.64%
- Debt-Equity Ratio: 1.39
The company's operations encompass the sale, service, and repair of passenger cars, commercial vehicles, and electric two- and three-wheeler vehicles. It also handles the sale and exchange of pre-owned passenger vehicles, distribution of spare parts and accessories, facilitation of financial and insurance products, and operates driving schools.
PVSL operates dealerships for prominent automotive brands, including:
- Passenger Vehicles: Maruti Suzuki India Limited, Honda Cars India Limited.
- Luxury Vehicles: Jaguar Land Rover India Limited (under the 'Marqland' brand, with 3 showrooms and 3 service centers in Karnataka as of March 2021).
- Commercial Vehicles: Tata Motors Limited.
The company ventured into the electric vehicle (EV) segment in 2021. Its subsidiary, Kuttukaran Cars Pvt. Ltd., is expanding its EV presence by establishing Ather 3S facilities in Maharashtra and has received a Letter of Intent (LOI) for an Ather Space 3.0 in Thiruvananthapuram, Kerala, with an investment of ₹75 Lakhs expected to commence operations from September 2025.
- NSE Ticker: POPL
- 52-Week Range: Low of ₹86.75 to High of ₹265.00.
- Recent Performance:
- Declined by 29.2% over the past six months.
- Declined by 53.71% over the last year.
- Promoter Holding: 61.18% (as of March 2025, stable from June 2024).
- Mutual Fund Shareholding: 11.04% (as of 20/6/2025).
- Key Shareholders:
- Naveen Philip (Promoter): 20.39%
- Foreign Institutional Investors: 12.65% (across 13 entities)
- Mutual Fund Schemes: 11.04%
- Banyantree Growth Capital II LLC: 10.01% (Largest public shareholder)
- Popular Vehicles & Services Ltd raised funds through an IPO in March 2024, issuing 11,917,075 equity shares via Offer for Sale and ₹250 Crore through Fresh Issue.
- On February 1, 2023, the company acquired shares in Keracon Equipments Private Limited (KEPL) through a share transfer agreement, making KEPL a wholly-owned subsidiary.
- EV Facilities: A subsidiary is establishing Ather EV facilities in Chennai with an investment of ₹75 Lakhs, expected to begin operations from September 2025. Kuttukaran Cars Pvt. Ltd. has also received a Letter of Intent (LOI) for an Ather Space 3.0 in Thiruvananthapuram, Kerala.
- The company continues to focus on expanding its electric vehicle operations while strengthening its position in traditional automotive dealership segments across Kerala and Tamil Nadu.
