Popular Vehicles & Services IPO: The Good and The Bad

About the company

Popular Vehicle & Services is an automobile dealer in India for giants like Maruti Suzuki, Honda Cars, Jaguar Land Rover India, Tata Motors, Piaggio, and Ather.

IPO details

Post IPO

Financial history

Key ratios

The positive

It is the seventh-largest passenger vehicle dealer (in terms of volumes) for Maruti Suzuki in India in FY23.

The negatives

Heavy reliance on Maruti Suzuki and Tata Motors. They contributed 86.4% of vehicles sold and 80.7% of revenue in FY23. The industry is highly competitive and cyclical.

Risk report

Is the company's net debt-to-equity ratio less than one? No. Its net debt-to-equity stood at 3.1 times as of September 30, 2023.

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