Landmark Cars Limited — PPTs, 29-05-2025: Investor Presentation

1. Financial Highlights:

Landmark Cars posted proforma revenue of ₹5,626 Cr, up 20.8% YoY, led by new vehicle sales (80%) and after-sales (17%). Gross profit was ₹710 Cr with an 18% margin, slightly down from last year’s 20% due to Mercedes-Benz sales softness in Q4. EBITDA stood at ₹235 Cr (5.8% margin), impacted by costs related to new outlet investments. PAT was ₹17 Cr, affected by higher depreciation, finance costs from inventory buildup, and ESOP valuations. Total assets rose to ₹1,889 Cr with moderate leverage (debt-to-equity at 1.1x), supported by healthy operating cash flow of ₹152 Cr.

2. Strategic Initiatives & Growth Drivers:

The company expanded rapidly, adding 23 outlets across key cities like Hyderabad, Jaipur, and Patna, emphasizing premium brands MG, Kia, Mercedes-Benz, and Mahindra. Cost rationalization efforts include outlet consolidations and co-location strategies. A robust product pipeline featuring MG Majestor, VW Golf GTI, and Mercedes-Benz AMG GT Coupe supports growth. After-sales, a high-margin segment, continues strong with 14%+ revenue CAGR over the last decade, helping stabilize earnings through market cycles.

3. Business Developments:

Landmark strengthened OEM ties and launched multiple showrooms and workshops ahead of schedule, especially for Kia and Mercedes-Benz, enhancing scalability and profitability. Digital transformation initiatives focused on customer engagement and operational efficiency are being rolled out under senior leadership guidance.

4. Market Position & Competitive Advantage:

As India’s largest multi-brand auto retailer with 131 outlets servicing about 5 lakh customers annually, Landmark holds top-tier partner status with several premium OEMs and ~0.5% share of the passenger vehicle market. The asset-light model (owns only 2 outlets) and strong after-sales business provide a competitive edge in scale and margins. Plans are underway to double market share leveraging brand diversity and geographic reach.

5. Investor Implications:

Consistent revenue growth and aggressive expansion in premium markets suggest positive growth potential. Margin improvement is expected as new outlets mature and cost discipline continues. Execution risks include new outlet break-even delays and inventory financing pressures, but Landmark’s scale, market leadership, and premium brand partnerships position it well to benefit from the ongoing premiumization in India’s auto sector.