Popular Vehicles & Services Ltd - Stock Valuation and Financial Performance

BSE: 544144 | NSE: PVSL | Automobiles - Dealers & Distributors | Small Cap

Popular Vehicles & Services Share Price

254.35 2.25 0.89%
as on 28-Mar'24 13:40

DeciZen - make an informed investing decision on Popular Vehicles & Services

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Popular Vehicles & Services stock performance -

mw4me loader
P/E Ratio (SA):
61.19
Market Cap:
1,794.9 Cr.
52-wk low:
250
52-wk high:
296.4

Is Popular Vehicles & Services Ltd an attractive stock to invest in?

1. Is Popular Vehicles & Services Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Popular Vehicles & Services Ltd is a below average quality company.

2. Is Popular Vehicles & Services Ltd undervalued or overvalued?

The key valuation ratios of Popular Vehicles & Services Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Popular Vehicles & Services Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Popular Vehicles & Services Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Popular Vehicles & Services:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Popular Vehicles & Services Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7.7%8.9%7.2%11.6%9.8%7.4%6%10.4%8.3%13.9%-
Value Creation
Index
-0.5-0.4-0.5-0.2-0.3-0.5-0.6-0.3-0.40.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,6531,7381,9892,3312,2612,2531,8391,6921,8662,5142,514
Sales YoY Gr.-5.2%14.4%17.2%-3%-0.4%-18.4%-8%10.3%34.7%-
Adj EPS 000002-0.82.61.14.94.1
YoY Gr.-NA-100%NA-33.3%9950%-137.8%NA-59%363.8%-
BVPS (₹) 1617.217.728.631.829.128.931.432.537.1116.8
Adj Net
Profit
0.75.81.421.817.212.6-4.8166.630.529
Cash Flow from Ops. 69.80.593.7110-2.7-72.814775.227.385.5-
Debt/CF from Ops. 3.1589.22.70.8-56.6-3.81.42.67.92.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.8%2.1%11%34.7%
Adj EPS NA200.1%NA363.8%
BVPS9.8%3.1%8.6%14%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1.310.92.620.910.77.2-2.68.53.3145.4
Op. Profit
Mgn %
2.22.41.82.52.323.154.44.7NAN
Net Profit
Mgn %
00.30.10.90.80.6-0.310.41.21.2
Debt to
Equity
4.24.84.50.60.91.51.211.11-
Working Cap
Days
595150383749726961490
Cash Conv.
Cycle
414035242434403439320

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 10.97%

Return on Equity has declined versus last 3 years average to 5.40%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 1.04

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials - Popular Vehicles & Services Ltd.

Standalone Consolidated
TTM EPS (₹) 4.1 9
TTM Sales (₹ Cr.) 2,514 4,875
BVPS (₹.) 116.8 132.4
Reserves (₹ Cr.) 818 928
P/BV 2.16 1.90
PE 61.19 28.01
From the Market
52 Week Low / High (₹) 250.00 / 296.35
All Time Low / High (₹) 262.90 / 296.35
Market Cap (₹ Cr.) 1,795
Equity (₹ Cr.) 14.2
Face Value (₹) 2
Industry PE 61.2

Management X-Ray of Popular Vehicles & Services:

Shareholding Pattern

No Data To Display

Promoter's Holding & Share Pledging

Event Update

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Analyst's Notes

Key Ratios of Popular Vehicles & Services

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,6531,7381,9892,3312,2612,2531,8391,6921,8662,514
Operating Expenses 1,6171,6971,9532,2752,2082,2071,7821,6081,7832,396
Manufacturing Costs19252325222340274055
Material Costs1,4501,5111,7472,0641,9671,9271,5251,4011,5272,053
Employee Cost 819298111135158159137158200
Other Costs 67688574849858425888
Operating Profit 364236575345578482118
Operating Profit Margin (%) 2.2%2.4%1.8%2.4%2.3%2.0%3.1%5.0%4.4%4.7%
Other Income 53546135131212
Interest 29293115152343353945
Depreciation 107815161636394246
Exceptional Items 00000026000
Profit Before Tax 19232281910221439
Tax 02111107-46710
Profit After Tax 1622118121316729
PAT Margin (%) 0.0%0.4%0.1%0.9%0.8%0.5%0.7%0.9%0.4%1.2%
Adjusted EPS (₹)0.22.00.53.93.32.02.12.51.14.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 515557153170182182197204233
Share Capital 222331313131313
Reserves 495355149166170169184192220
Minority Interest0000000000
Debt20625324174143266201188198221
Long Term Debt222310222162229676059
Short Term Debt18423113952127244172121138162
Trade Payables223226211339120345040
Others Liabilities 6161911209394262278362348
Total Liabilities 340402414368419581765696814842

Fixed Assets

Gross Block142147173139154169353374461468
Accumulated Depreciation48556113273668877682
Net Fixed Assets9492111126127132285288385387
CWIP 100112282316126
Investments 9121413135070626293
Inventories1201451106879178216143200196
Trade Receivables719786889312151866681
Cash Equivalents 162818122613163857
Others Assets302776616959102648372
Total Assets 340402414368419581765696814842

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 70094110-3-73147752786
PBT 192322819-16221439
Adjustment 39393728252775647185
Changes in Working Capital 33-445955-45-11193-12-50-24
Tax Paid -3-3-5-6-11-8-51-7-15
Cash Flow From Investing Activity -18-6-64-1-37-37-282-27-57
Capex -15-7-26-15-29-39-1-9-30-28
Net Investments 00500-37-9901
Others -31-4314-839-1834-30
Cash Flow From Financing Activity -4918-42-11552100-116-56-31-30
Net Proceeds from Shares 0000010000
Net Proceeds from Borrowing 010-1002064003
Interest Paid -290-29-13-13-21-24-17-16-18
Dividend Paid 0000000000
Others -2018-12-9265101-98-79-15-14
Net Cash Flow 213-12-612-9321-30-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)1.3411.822.7820.0910.936.977.398.383.4813.43
ROCE (%)10.8712.8210.4116.8215.210.8312.4314.6312.9418.82
Asset Turnover Ratio4.364.684.885.965.744.52.732.392.543.1
PAT to CFO Conversion(x)700475.24-0.17-6.0811.314.693.862.97
Working Capital Days
Receivable Days20181714151717141410
Inventory Days32282314122139383328
Payable Days13764351920108

Popular Vehicles & Services Ltd Stock News

Popular Vehicles & Services Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Popular Vehicles & Services on 28-Mar-2024 13:40 is ₹254.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 13:40 the market cap of Popular Vehicles & Services stood at ₹1,794.9.
The latest P/E ratio of Popular Vehicles & Services as of 28-Mar-2024 13:40 is 61.19.
The latest P/B ratio of Popular Vehicles & Services as of 28-Mar-2024 13:40 is 2.16.
The 52-week high of Popular Vehicles & Services is ₹296.4 and the 52-week low is ₹250.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Popular Vehicles & Services is ₹2,514 ( Cr.) .

About Popular Vehicles & Services Ltd

The company was originally incorporated as Popular Vehicles and Services Limited on July 5, 1983 at Kochi, Ernakulam, Kerala, India as a public limited company under the Companies Act, 1956 and received its certificate for commencement of business on July 14, 1983. The company was converted to a private limited company pursuant to a special resolution passed by its Shareholders at the Extraordinary General Meeting (EGM) held on December 29, 2014 and the name of the company was changed to Popular Vehicles and Services Private Limited. A fresh certificate of incorporation consequent upon conversion of the company to a private limited company was issued on March 24, 2015 by the Registrar of Companies, Kerala at Ernakulam (RoC). The company was subsequently converted into a public limited company pursuant to a special resolution passed by its Shareholders at the EGM held on June 11, 2018 and the name of the company was changed to Popular Vehicles and Services Limited. A fresh certificate of incorporation consequent upon conversion of the company to a public limited company was issued on July 10, 2018 by the RoC.

The company is a diversified automobile dealership in India, having a fully integrated business model. The company caters to the complete life cycle of vehicle ownership, right from the sale of new vehicles, servicing and repairing vehicles, distributing spare parts and accessories, to facilitating sale and exchange of pre-owned vehicles, operating driving schools and facilitating the sale of third-party financial and insurance products. It categorises its automobile dealership business into three key segments, namely, (a) passenger vehicles including luxury vehicles, (b) commercial vehicles and (c) electric two-wheeler and three-wheeler vehicles.

The company operate (a) passenger vehicle dealerships covering economy, premium and luxury vehicles across its dealerships for the following OEMs: (i) Maruti Suzuki India (Maruti Suzuki) for both Arena and Nexa, through the Company, (ii) Honda Cars India (Honda) through its Subsidiary, VMPL, and (iii) Jaguar Land Rover India (JLR) through its Subsidiary, PAWL; (b) commercial vehicle dealerships of (i) Tata Motors (Tata Motors (Commercial)), through its Subsidiary, PMMIL and (ii) Daimler India Commercial Vehicles (BharatBenz), through its Subsidiary, PMPL; and (c) electric three-wheeler vehicle dealership of Piaggio Vehicles, including commercial and cargo vehicles (Piaggio), through its Subsidiary, KGPL and electric two-wheeler vehicle dealership of Ather Energy (Ather), through its Subsidiary, KCPL.

Business area of the company

The company is engaged in the business of automobile dealerships in India. It provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.

Awards, accreditations and accolades

  • 2003: PMMIL received the first ISO 9001:2015 certification.
  • 2004: The company was declared as the winner of the All India Best HR Practices Award in the Maruti Suzuki Dealers’ Conference 2003-04.
  • 2005: The company was declared as the winner of the All India Best HR Practices Award (Category A) in the Maruti Suzuki Dealers’ Conference 2004-05.
  • 2007: The company was declared as the winner of the All India Best HR Practices Award (Category A) in the Maruti Suzuki Dealers’ Conference 2006-07.
  • 2008: The company was declared as the runner up of the Sales Award for Excellence in Sales and Best HR Practices (Category A) in the Maruti Suzuki Dealers Conference.
  • 2013: PAWL was recognised as the National Dealer Champion by JLR at the Dealer Excellence Awards 2012-2013.
  • 2014: PAWL was recognised as the National Dealer Champion by JLR at the Dealer Excellence Awards 2013-2014.
  • 2014: PADL received the Product Champion Brakes from Maruti Suzuki in Parts Distributor Meet 2014.
  • 2015: PAWL was recognised as the National Champion for Overall Sales by JLRat the Dealer Excellence Awards 2014-15.
  • 2015: PMMIL received the “Best Dealer in Commercial Vehicles” Award in the first Apollo CV Awards 2015.
  • 2016: PAWL was recognised as the Jaguar Land Rover Overall Champion Category A – at the JLR Dealer Excellence Awards 2015-16.
  • 2017: The company was declared as the all India second runner up as Dealer Group with the Highest Sales Award at the NEXA Awards for Innovation & Excellence.
  • 2018: The company was declared as the runner up of the All India Highest Sales Award (Arena Channel) in the Maruti Suzuki Dealer Conference.
  • 2018: PMMIL was awarded the Excellence Award for highest sale of SCV Passenger by Tata Motors (Commercial).
  • 2018: PMMIL was awarded the Excellence Award and was declared as the third ranked dealer in the Tata Genuine Parts Business by Tata Motors (Commercial).
  • 2018: PMMIL was awarded the Excellence Award and was declared as the third ranked dealer in the Tata OK-Pre Owned Vehicles Business by Tata Motors (Commercial).
  • 2018: PAWL (Marqland) was recognised as the Best Luxury Car Dealership at the Times Business Awards.
  • 2019: PADL was awarded the Best Infrastructure & Warehouse Facility in the Parts Distributor Meet 2019 held at Kathmandu, Nepal by Maruti Suzuki.
  • 2019: PADL received the most enterprising CEO award by Maruti Suzuki.
  • 2020: The company was categorised within the “Alpha Band” in Nexa score card 2019-20 from Maruti Suzuki for Kerala and Chennai in Nexa.
  • 2020: The company was categorised within the “Platinum Band” in balance score card 2019-20 by Maruti Suzuki for Kerala in Arena.
  • 2021: The company was categorised within the “Alpha Band” in Nexa score card 2020-21 from Maruti Suzuki for Kerala and Chennai in Nexa.
  • 2021: The company has achieved the coveted ‘Platinum Band’ in balance score card 2020-21 by Maruti Suzuki for Kerala in Arena.
  • 2021: The company has achieved the coveted ‘Gold Band’ in balance score card 2020-21 by Maruti Suzuki for Chennai in Arena.
  • 2022: The company was awarded the ‘award of excellence’ at the Maruti Suzuki Dealers Conference, 2022.
  • 2022: The company achieved the coveted Platinum Band in Balance Score Card 2021-22 from Maruti Suzuki for Chennai in Arena.
  • 2022: The company achieved the Alpha Band in Nexa Score Card 2021-22 from Maruti Suzuki for Kerala and Chennai in Nexa.
  • 2023: The company has received ET Auto Retail Award 2023, for being the Top Dealer of the Year (South).

Major events and milestones

  • 1984: The company commenced automobile dealership business with setting up their first Maruti Suzuki showroom in Trivandrum, Kerala.
  • 1997: The company’s Subsidiary, PMMIL commenced its first dealership in Kerala for Tata commercial vehicles.
  • 2002: The company commenced the ‘Popular Motors’ dealership in Chennai, Tamil Nadu, for Maruti Suzuki passenger vehicles.
  • 2005: The company’s Subsidiary, PADL commenced spare parts distribution business in Kerala.
  • 2006: The company’s Subsidiary, PMMIL commenced the ‘Popular Motors’ dealership in Tamil Nadu for Tata Motors (Commercial) commercial vehicles.
  • 2008: The company’s step-down Subsidiary, VMPL commenced its ‘Vision Motors’ dealership in Kottayam, Kerala for Honda passenger vehicles.
  • 2015: Investment by BanyanTree in the Company.
  • 2021: The company’s Subsidiary, KGPL, entered into a dealership agreement with Piaggio Vehicles Private Limited to operate dealerships for three-wheeler electric vehicles in Ernakulam.
  • 2021: The company’s Subsidiary, KCPL, entered into a letter of intent with Ather Energy Private Limited to operate the two-wheeler electric vehicles dealership in Trivandrum.
  • 2022: The company’s Subsidiary KCPL, entered into a letter of intent with Ather Energy Private Limited to operate the two-wheeler electric vehicles dealership in Nagercoil, Tamil Nadu.
  • 2023: The company’s step-down Subsidiary PMPL, entered into a slump sale agreement to acquire BharatBenz dealership business in Maharashtra.
  • 2023: The company received an in-principle approval for Maruti Suzuki dealership (Arena Channel) at Bangalore, Karnataka.


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