Press Release

PPooppuullaarr VVeehhiicclleess aanndd SSeerrvviicceess LLttdd KKuuttttuukkaarraann CCeennttrree MMaammaannggaallaamm,, KKoocchhii 668822002255 tt 00448844 22334411113344 ee ccss@@ppooppuullaarrvv..ccoomm wwwwww..ppooppuullaarrvveehhiicclleess..iinn Ref: PVSL/SEC/44/2026-27 CCIINN LL5500110022KKLL11998833PPLLCC000033774411 KKEERRAALLAA –– GGSSTTIINN 3322AAAABBCCPP33880055GG11ZZWW Date: 11th August, 2026 TTAAMMIILL NNAADDUU-- GGSSTTIINN 3333AAAABBCCPP33880055GG11ZZUU KARNATAKA - GSTIN 29AABCP3805G1ZJ TELANGANA - GSTIN 36AABCP3805G1ZO To, To, BSE Limited (“BSE”), National Stock Exchange of India Corporate Relationship Department, Limited (“NSE”), 2nd Floor, New Trading Ring, “Exchange Plaza”, Plot No. C-1, P.J. Towers, Dalal Street, Block G, Bandra Kurla Complex, Mumbai – 400 001. Bandra (East), Mumbai – 400 051. Scrip Code: 544144 NSE Code: PVSL ISIN: INE772T01024 ISIN: INE772T01024 Dear Sir/Madam, Sub: Press Release – Un-Audited Financial Results for the quarter ended 30th June, 2026. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the press release to be issued on the un-audited financial results and business performance of the Company for the quarter ended 30th June, 2026. The press release is also available on the website of the company at www.popularvehicles.in Kindly take the same into your records. Thanking you, Yours faithfully, For Popular Vehicles and Services Limited Varun T.V. Company Secretary & Compliance Officer Membership No: A22044 Place: Kochi www.kuttukaran.in Investor Release Popular Vehicles and Services Limited Q1FY27 Consolidated Results ✓ New Vehicles volume stood at 17,300 units; up ~81.5% on Y-o-Y basis ✓ Total Income stood at Rs. 1,903.1 Crs; up ~44.6% on Y-o-Y basis ✓ EBITDA (incl. other income) stood at Rs. 71.5 Crs with margins at 3.8% Mumbai/Kochi – 11th August 2026: Popular Vehicles & Services Limited (PVSL), is one of India’s leading fully integrated automotive dealership player, has reported its unaudited financial results for the quarter ended 30th June 2026. Key highlights: Volumes (In Units) Total Income* (INR Crs) New Vehicles Q1FY27 Q1FY26 YoY Q4FY26 QoQ Q1FY27 Q1FY26 YoY Q4FY26 QoQ PV (Incl. Luxury) 10,475 5,736 82.6% 8,090 29.5% 835.8 482.6 73.2% 653.4 27.9% CV 3,495 2,478 41.0% 3,716 -5.9% 564.1 424.5 32.9% 644.7 -12.5% EV 3,330 1,318 152.7% 3,079 8.2% 54.9 24.7 122.4% 50.2 9.3% Volumes (In Units) Total Income* (INR Crs) Services Q1FY27 Q1FY26 YoY Q4FY26 QoQ Q1FY27 Q1FY26 YoY Q4FY26 QoQ PV (Incl. Luxury) 1,90,801 1,99,807 -4.5% 1,80,989 5.4% 168.7 151.7 11.1% 151.8 11.1% CV 52,647 45,786 15.0% 52,443 0.4% 106.9 72.7 47.0% 96.4 10.9% EV 13,232 8,258 60.2% 11,261 17.5% 2.5 2.3 11.8% 3.0 -14.7% *Includes other income Y-o-Y • New Vehicles o Q1 witnessed strong volume growth across segments, supported by improved demand, new geographies, acquisitions and healthy organic growth. o Revenue growth remained healthy, though lower than volume growth, reflecting product mix and realisations. The YoY comparison also reflects the impact of the GST rate reductions implemented in September 2025. • Services: o PV service volumes moderated YoY due to rationalisation of low-value job cards, while Luxury and CV services grew strongly and EV volumes scaled with the expanding installed base and network. Investor Release o Service income remained healthy across segments. PV income grew despite lower volumes, supported by higher-value jobs and better realisations, while CV growth was aided by acquisitions. EV service income also grew YoY. Q-o-Q • New Vehicles: o Q1 sustained healthy sequential momentum in PV and EV, while CV volumes moderated amid the prevailing macroeconomic environment. o PV revenue remained healthy, while CV revenue moderated; EV continued to maintain positive sequential momentum. • Services: o PV and EV service volumes improved sequentially, while CV remained broadly stable. o Service income improved sequentially in PV and CV, while EV service income moderated despite higher service volumes. Business Highlights: • Honda and Piaggio volumes and revenue, accounted for only until August 2025, have been excluded from the calculations below. Q1 FY27 growth includes the contribution from acquisitions and network expansion, while organic growth further excludes the contribution from acquisitions and network expansion to reflect growth from the existing business. Particulars (Approx. YoY Growth In %) Q1FY27 Organic Growth Total Revenue from Operations 52% 33% PV (excluding luxury) 72% 49% Luxury PV 42% 21% CV 35% 21% EV, Spare parts distribution 43% 16% Particulars (Approx. YoY Growth In %) Q1FY27 Organic Growth Total New Vehicle Volume Sales 91% 58% PV (excluding luxury) 96% 70% Luxury PV 39% 1% CV 41% 34% EV 171% 57% Investor Release Particulars (Approx. YoY Growth In %) Q1FY27 Organic Growth Total Service Volume 13% -1% PV (excluding luxury) 8% -4% Luxury PV 87% 9% CV 15% 5% EV 95% 43% • Revenue contribution from Acquisitions - Q1FY27: o Globe CV Private Limited (BharatBenz) – Rs. 71 Crs o R.K.S Motors Private Limited (MSIL) – Rs. 126 Crs o Olympus Motors Private Limited (Audi) – Rs. 20 Crs • Network Expansion: o Started operations at the following touchpoints: ▪ MSIL – 1 Service Center at Koyilandy, Keralam. ▪ Tata Motors CV – 1 Sales outlet each at Perumbavoor and Kazhakootam, Keralam. ▪ JLR – 1 Sales & Service Facility at Nagpur, Maharashtra. • State-wise Revenue Break-up for Q1FY27: o Keralam – 49% o Tamil Nadu – 22% o Karnataka – 12% o Maharashtra – 5% o Punjab – 4% o Telangana – 8% o Andhra Pradesh – 0.3% • Recent Awards & Recognition: o Popular Mega Motors (India) Pvt Ltd (PMMIL) was conferred four awards at the Tata Motors National Dealer Conference held at Goa: ▪ Highest Market Share Growth — CV Passenger ▪ Highest Market Share Growth — SCV Cargo (ACE) ▪ Highest Sales — Tata Winger ▪ Spare Parts Process Excellence Management Commentary: Commenting on the performance, Mr. Naveen Philip, Promoter & Managing Director said, “We have delivered a strong start to FY27, with broad-based growth across our new vehicle business. Improving customer sentiment, supported by the GST reforms announced in September 2025, particularly in the entry-level segment, continued to drive demand during the quarter. Importantly, our performance was driven by a healthy combination of both organic and inorganic growth, demonstrating the strength of our Investor Release existing network alongside the successful integration of the acquisitions completed during FY26. As indicated earlier, we have also achieved an important diversification milestone, with the revenue contribution from Keralam declining to below 50% in Q1FY27. We will continue to focus on maintaining a well-diversified geographic revenue mix going forward. Passenger vehicle (excluding luxury) sales grew by over 80% year-on-year, with approximately 70% of the growth being organic volumes. The momentum remained healthy sequentially as well, led by continued strength in the Nexa portfolio, while Arena also returned to growth. Luxury vehicle sales increased approximately 39% year-on-year, primarily driven by the addition of the Audi business, and recorded a sequential growth of 8%. Commercial vehicle sales grew 41% year-on-year, reflecting a strong start to the year despite a marginal sequential decline. Our EV business continued its strong trajectory, with volumes increasing 153% year-on-year and growing 8% sequentially on an already high Q4 base, underscoring strong customer acceptance. In after-sales business, service volumes recorded marginal year-on-year growth. The acquired dealerships continue to witness a gradual recovery in service throughput from the subdued levels at the time of acquisition, and we expect these operations to normalize progressively over the coming quarters. Operational discipline remains a key focus. Despite continued networ [Showing first 8,000 characters — download PDF for full document]