Dear Shareholders,
As we reflect on the past year and look forward to the future,
I am pleased to share with you the strides Popular Vehicles and
Services Limited (PVSL) has made in financial performance, value creation, and human
resources. These areas form the backbone of our operations and are critical to our
long-term success and sustainability.
Governance
At PVSL, we are committed to the highest standards of corporate
governance.
Our governance framework is designed to promote transparency,
accountability, and integrity in all aspects of our business.
We have also implemented rigorous risk management processes to
identify, assess, and mitigate risks across our operations. This proactive approach
enables us to address potential challenges and maintain our stakeholders' trust promptly.
Value Creation
Creating value for our shareholders, customers, and employees is our
business strategy's heart. Over the past year, we have focused on expanding our market
presence, enhancing operational efficiencies, and investing in innovation. Our successful
IPO and subsequent listing on the BSE and NSE are a testament to our growth and financial
stability, enabling us to unlock new opportunities and drive sustainable value creation.
Our diversified portfolio of passenger vehicles, commercial vehicles,
and electric vehicles positions us to capitalize on market trends and meet our customers'
evolving needs.
We have strengthened our market position and delivered consistent
revenue growth by leveraging our extensive network and strategic partnerships with leading
OEMs.
Human Resources
Our employees are our most valuable asset, and we are dedicated to
fostering a culture of excellence, inclusivity, and continuous learning.
This year, we have enhanced our talent management programs to attract,
retain, and develop top talent across all levels of the organisation.
Our comprehensive training initiatives ensure that our employees have
the skills and knowledge to excel in a rapidly changing industry.
We are also committed to promoting a diverse and inclusive workplace
where every employee feels valued and empowered to contribute to our success. Our
diversity and inclusion initiatives are designed to create an environment where different
perspectives are embraced and innovation thrives.
Role of Dealerships in the Auto Industry
The Indian automobile industry is one of the largest in the world,
encompassing a wide range of vehicles, including passenger cars, commercial vehicles,
two-wheelers, and three-wheelers. This sector is a significant contributor to the nation's
GDP and a driver of economic growth. Organised dealership networks like Popular Vehicles
and Services are crucial in enhancing the auto value chain.
Dealerships serve as critical customer touchpoints, helping consumers
navigate their vehicle selection, providing essential services, and offering a human touch
to the buying experience. At PVSL, our dealerships are not just sales points but also
centres for building long-term customer relationships. We provide comprehensive services,
from vehicle selection to after-sales support, ensuring customers receive personalised and
attentive care.
Future Initiatives
Looking ahead, we are implementing comprehensive policies and
initiatives focused on Environmental, Social, and Governance (ESG) aspects.
We recognise the importance of sustainability and are committed to
integrating ESG principles into our business strategy. Our initiatives will include:
• Environmental Sustainability involves reducing our carbon
footprint through energy- efficient practices, promoting the use of electric vehicles, and
implementing waste reduction programs.
• Social Responsibility: We enhance our community engagement
efforts, support local initiatives, and ensure the well-being of our employees.
• Governance Excellence means continuously improving our
governance practices, fostering transparency, and ensuring compliance with the highest
ethical standards.
These initiatives reflect our commitment to positively impacting the
environment, society, and stakeholders.
We believe embedding ESG principles into our core operations will drive
long-term sustainable growth and create value for all our stakeholders.
Leadership and Board Expertise
Our board comprises diverse professionals with extensive expertise in
various fields.
This diversity brings valuable perspectives and enhances our
decision-making processes.
The leadership team at PVSL is dedicated to ensuring long-term value
creation and adherence to corporate governance principles. Their strategic vision and
commitment to excellence guide our operations and ensure we remain at the forefront of the
automotive industry.
I assure you that PVSL is well- positioned for future growth and
success. Our dedicated management team, robust governance framework, and focus on
innovation and sustainability will guide us as we navigate the dynamic automotive
landscape.
Thank you for your continued trust and support.
Sincerely,
| Mr. Jacob Kurian Chairman and Non-Executive, Independent Director Popular
Vehicles and Services Limited |