During Wednesday’s trading session, shares of one of India’s leading fully integrated automotive dealership players surged nearly 4.5 percent on BSE, after securing a Letter of Intent (LoI) from Maruti Suzuki to set up a new independent True Value outlet.
With a market cap of Rs. 923.4 crores, at 10:33 a.m., the shares of Popular Vehicles & Services Limited were trading in the green at Rs. 129.7 on BSE, up by around 1.6 percent, as against its previous closing price of Rs. 127.7. The stock has delivered negative returns of around 42 percent in one year, but has gained by over 22 percent in the last month.
What’s the News:
According to the latest regulatory filings with the stock exchanges, Popular Vehicles & Services Limited has received a Letter of Intent (LOI) from Maruti Suzuki India Limited to set up a new independent True Value outlet for pre-owned vehicles in Bangalore, Karnataka.
This initiative marks a strategic move in expanding the company’s presence in Karnataka and addressing the growing demand for reliable, cost-effective mobility solutions in urban markets.
The facility will span approximately 6,000 sq. ft., and will have the capacity for a covered display of up to 15 vehicles on-site. The operations are expected to commence by the end of August 2025.
Financials and More:
Popular Vehicles reported a marginal growth in revenue from operations, experiencing a year-on-year rise of nearly 0.6 percent, from Rs. 1,363.7 crores in Q4 FY24 to Rs. 1,372.4 crores in Q4 FY25.
Despite the uptick in topline performance, the company’s bottom line declined significantly, swinging from a net profit of Rs. 20 crores in Q4 FY24 to a net loss of Rs. 13.7 crores in Q4 FY25.
Popular Vehicles & Services Limited, a part of Kuttukaran Group, is one of the leading diversified automotive dealership company in India with a presence across the automotive retail value chain, including the sale of new passenger, commercial and electric 2/3-wheeler vehicles, services and repairs, spare parts distribution, sale of pre-owned passenger vehicles, and facilitation of the sale of third-party financial and insurance products.
The company operates passenger vehicle dealerships of Maruti Suzuki India Limited, Jaguar Land Rover India Limited, Honda Cars India, commercial vehicle dealership of Tata Motors and Bharat Benz and Ather Energy and Piaggio in the EV space.
Written by Shivani Singh
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