General Updates

Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ Ref No: PVSL/SEC/38/2026-27 TELANGANA - GSTIN 36AABCP3805G1ZO Date: 04th August, 2026 To, To, BSE Limited (“BSE”), National Stock Exchange of India Limited Corporate Relationship Department, (“NSE”), 2nd Floor, New Trading Ring, Exchange Plaza, Plot No. C-1, Block G, P.J. Towers, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 544144 NSE Code: PVSL ISIN: INE772T01024 ISIN: INE772T01024 Dear Sir/Madam, Sub: Annual Report under Regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations). Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the copy of the Annual Report of the Company for the financial year ended March 31, 2026, along with the Notice convening the 42nd Annual General Meeting (AGM) of the Company, which is being circulated to the shareholders of the Company. The 42nd (Forty-Second) Annual General Meeting (AGM) of the Company will be held on Friday, 28th August, 2026, at 04.00 p.m. (IST) through Video Conferencing / Other Audio- Visual Means. www.kuttukaran.in Popular Vehicles and Services Ltd Kuttukaran Centre Mamangalam, Kochi 682025 t 0484 2341134 e cs@popularv.com www.popularvehicles.in CIN L50102KL1983PLC003741 KERALA – GSTIN 32AABCP3805G1ZW TAMIL NADU- GSTIN 33AABCP3805G1ZU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO The Notice of the 42nd AGM and the Annual Report for the FY 2025-26 will be available on the website of the Company at www.popularvehicles.in, website of stock exchanges, i.e. BSE Limited at www.bseindia.com, National Stock Exchange of India Limited at www.nseindia.com and on the website of MUFG Intime India Private Limited ("MUFG") at www.instavote.linkintime.co.in You are requested to kindly take the same on record. Thanking you, Yours faithfully, For Popular Vehicles and Services Limited Varun T.V. Company Secretary & Compliance Officer Membership No: A22044 Place: Kochi-25 www.kuttukaran.in Vehicles Services Limited Expanding Destinations Navigating New Terrains Annual Report 2025-26 About US Driven by trust. Defined by Built for continuity and mobility. connection We operate at the intersection of automotive By combining a strong physical network with retail and customer experience. As part of the an integrated operating model, we stay closely Kuttukaran Group, we represent leading automotive connected to customers at every stage of brands while building lasting relationships rooted ownership. Our approach enables seamless in reliability, service excellence, and deep market engagement, strengthens OEM partnerships, and familiarity. Our role extends beyond transactions - supports our relevance in a transforming mobility we serve as a trusted partner across the mobility landscape. journey. An integrated mobility ecosystem Our business brings together vehicle sales, after-sales service, spare parts distribution, and allied solutions on a single cohesive platform. With a presence across passenger and commercial vehicles, as well as emerging mobility segments, we cater to evolving customer needs while maintaining consistent service delivery. Network Workforce Geographic Presence Product Segments ~500 11,096 7 PV,CV,EV, Touchpoints States Spares Customer Touchpoints Service Operations OEMs 208 171 6 Showrooms & Sale Outlets Service Centres 62-5202 tropeR launnA Expanding Destinations NAVIGATING NEW TERRAINS FY2026 was a year in which Popular Vehicles and shaped by GST 2.0 and electrification. With ~500 Services widened its map and deepened its purpose. touchpoints across seven states, our journey continues, We journeyed into new destinations, Punjab, Telangana guided by trust, powered by relationships and directed and Andhra Pradesh, welcomed new partnerships with towards sustainable, profitable growth. Audi and BKT, and strengthened our electric mobility In the pages that follow, we take you through this presence with Ather across the western region. At journey: the milestones that shaped our legacy, a year the same time, we navigated new terrains: portfolio of strategic recalibration, our integrated business rationalisation, disciplined exits, integration of acquired model and widening presence, and a detailed review of businesses and a transforming mobility landscape our performance across every segment. Table of Contents Strategic Review Financial Statements Reflections on a Remarkable Journey 03 Standalone Financial Statements 153 Milestones 04 Independent Auditors Report 154 Organizational Structure 06 Standalone Balance Sheet 165 Message from the Chairman 08 Standalone Statement of Profit and Loss 166 Review by the Managing Director 10 Standalone Statement of Changes in Equity 167 Board of Directors 12 Standalone statement of cash flows 169 Strategic Direction 14 Notes to the Standalone Financial Statements 171 A Year of Strategic Recalibration 16-23 Consolidated Financial Statements 224 From Intent to Execution 24 Independent Auditors Report 225 Our Business Model 26 Consolidated Balance Sheet 234 Dealership and Services 28 Consolidated Statement of Profit and Loss 235 Beyond keralam, Broadening Strength 30 Consolidated Statement of Changes in Equity 236 Customer Services 32-35 Consolidated statement of cash flows 238 Review of Performance 36-45 Notes to the Consolidated Financial Statements 240 CSR 46 Statutory Reports Directors’ Report 48-83 Business Responsibility & Sustainability Report 84-120 Management Discussion & Analysis 121-128 Corporate Governance Report 129-152 Notice 296-310 detimiL secivreS selciheV ralupoP Reflections on a REMARKABLE JOURNEY A Note from Mr. Francis K. Paul Whole-Time Director Dear Friends, As I near the close of my present term, I do so with deep gratitude and quiet emotion. My journey with Popular has been one of the most meaningful chapters of my life. From the Company’s early years after its incorporation in 1983, and the award of the first Maruti Suzuki dealership in Kerala - having received the Letter of Intent from MSIL in 1983 itself and commencing operations in 1984 as part of Maruti Suzuki’s first batch of dealerships in India, I have had the privilege of witnessing an extraordinary transformation. Over the years, Popular has grown into a diversified automotive retail enterprise spanning passenger and commercial vehicles, as well as electric mobility, supported by a strong sales and service network. The Company’s entry into the public markets in March 2024 marked yet another defining milestone in this journey. What stays with me most, however, is not only the scale of this progress, but the values that shaped it - integrity, commitment, humility and enduring relationships. Having spent over five decades in the automobile sector, I feel privileged to have contributed to an institution built on trust and strengthened by the dedication of its people. As my present term comes to an end on 31 March 2026, I step back with pride, affection and confidence in the future of this Company. With warm regards, Francis K. Paul Whole-Time Director 62-5202 tropeR launnA MILESTONES We entered the automobile industry in 1941 through Popular Industrials, which was into automobile tyre and tube vulcanisation and automobile battery restoration. This eventually led to the spare parts business in 1944 called Popular Automobiles, marking the foundation of a long- standing presence in the mobility ecosystem, built on deep market understanding and customer relationships. 1984 – 1997 | Establishing dealership presence This period marked the group’s transition from a parts-led busines [Showing first 8,000 characters — download PDF for full document]