Landmark Cars Ltd

Financial Performance

• Q1 FY27 pro forma revenue from operations grew over 22% YoY.
• PAT nearly doubled ahead of revenue growth.
• EVs now 30% of vehicles sold by value.
• EV ASP rose to INR 79 lakh in Q1 FY27 (vs 73 lakh Q4 FY26).
• Lease cost for quarter around INR 19 crores; lease+interest around INR 27 crores; Ind AS impact ~INR 2 crores.
• Annual rental cost expected around INR 100 crores.
• EBITDA margin ~5.8%; CFO conversion last year ~0.95%.

Operations & EV Initiatives

• ChargeZone partnership enables wallet credits and revenue share from onboarded EV customers.
• Outlets around 141: 77 showrooms, 64 workshops.
• Mumbai workshop opened at 55,000 sq ft, consolidating smaller workshops.
• Bays-based capacity focus; margins to improve with capacity consolidation.
• New vehicle margins improved to 2.3% in Q1 FY27 (FY25: 1.7%).
• Aftersales upside higher for new-growth brands; mix shifts profitability.

Q&A Highlights

• Mercedes price hikes raise absolute margins; percentage margins not increased.
• New vehicle margins progressed: 1.7% (FY25) to 2.0% (FY26) to 2.3% (Q1 FY27).
• Commercial terms of ChargeZone not disclosed publicly on this call.
• Outlets' capacity expansion measured in bays; profitability aided by consolidation.
• GST 2.0 boost supported demand; normalization expected from Q3–Q4.
• Interest costs stable; capex guided around INR 50 crores; cash generation to repay working capital loans.
• EBITDA to CFO cash conversion target discussed at ~0.95% (historical).
• Top-line growth about 22–23%; price hikes ~3%; volume ~19% basis discussed.

Outlook & Guidance

• GST 2.0 has provided a demand fillip; overall demand remains robust.
• Capex in line with earlier guidance; around INR 50 crores; cash generation to support leverage management.
• The management intends to deploy cash opportunities prudently; not rushing into new OEM deals.

Meeting Details

• Date & Time: August 21, 2026, 09:30 am onwards
• Type: 1x1 / Group Meeting
• Mode: Physical
• Organizer: Jefferies
• Place: Mumbai
• Purpose: Investor/Analyst interaction based on publicly available information
• Key participants: Company officials / management

Meeting Details

• Date and time: 12 Aug 2026, 09:00 IST
• Type and mode: group audio earnings conference call (analysts/investors)
• Event/organiser: Landmark Cars Limited earnings call
• Purpose: discuss unaudited standalone and consolidated Q1 FY2026 results (quarter ended Jun 30, 2026)
• Availability: audio recording uploaded; transcript to be submitted in due course

Book closure and dividend details

• Book closure: Sep 18, 2026 to Sep 24, 2026 inclusive.
• Record date for dividend entitlement: Sep 17, 2026.
• Purpose: final dividend payment for FY 2025-26 and AGM records.
• AGM date: Sep 24, 2026 at 03:00 PM IST (VC/OAVM).
• Security: Equity Shares of Landmark Cars Ltd (Scrip 543714).

Business Overview

• Premium, multi-brand luxury auto retailer with 141 total outlets.
• Diversified brand portfolio across luxury to mainstream brands.
• EV strategy includes ChargeZone collaboration to drive recurring EV revenue.

Key Operational Highlights

• Q1FY27 proforma revenue Rs 17,325 Mn; EBITDA Rs 752 Mn; PAT Rs 145 Mn.
• Net cash from operating activities Rs 575 Mn.
• ChargeZone revenue-sharing arrangement announced; onboarded EV customers via wallet credits.
• Upcoming launches: Scorpio N facelift Aug 2026; AMG GT 4 Door Oct 2026; Kia Sorento Sep 2026.
• Strategic network expansion and ongoing cost rationalization.

Financial Performance

• Revenue from operations Rs 13,024 Mn; gross profit Rs 2,048 Mn.
• EBITDA Rs 752 Mn; EBITDA margin 5.78%.
• PAT Rs 145 Mn; adjusted PAT Rs 161 Mn; margins 1.12% and 1.24%.
• YoY revenue growth about 22% (operational); proforma revenue up 22.4%.
• Gross margin 15.72%; adjusted PAT margin 1.24%.

Capital Structure & Liquidity

• No debt actions disclosed in the quarter.
• Liquidity supported by positive cash flow from operations.

Strategic Priorities & Outlook

• GST 2.0 reforms supportive; company notes strong market momentum.
• Cost discipline and ongoing rationalization to lift profitability.
• Launch pipeline through 2026-27; outlets maturing.
• ChargeZone arrangement to create recurring EV revenue.
• Strategic network expansion ongoing.

Risks & Mitigation

• Macro economy and consumer demand volatility.
• Execution risk on launches; mitigated by cost discipline and disciplined expansion.

Governance & Leadership

• Sanjay Thakker: Chairman; Paras Somani: Executive Director.
• Surendra Agarwal: Chief Financial Officer.
• Amol Raje: Company Secretary & Compliance Officer.

Financial highlights

• Consolidated total income ₹13,055.96 mn; PAT ₹145.46 mn for quarter ended 30 Jun 2026.
• Consolidated revenue from operations ₹13,023.58 mn; other income ₹32.38 mn.
• Standalone total income ₹1,980.00 mn; standalone PAT ₹115.86 mn for quarter ended 30 Jun 2026.
• Standalone EPS (basic/diluted) ₹2.79 for the quarter.
• Amalgamation of Landmark Cars East Private Limited approved; NCLT sanction awaited.
• Single business segment: dealership of cars; no geographical reporting.

Governance & shareholder matters

• 2,000 ESOPs granted under Landmark ESOP Plan 2023 to eligible employees.
• AGM scheduled Sept 24, 2026; record date Sept 17, 2026; register closure Sept 18–24.
• Manish Chokhani reappointed independent director for 3 years.
• Gautam Trivedi reappointed independent director for 5 years.
• Rita Teaotia appointedAdditional Independent Director from Aug 11, 2026.
• MOU with Tecso Charge Zone for EV wallet benefits.
• Nomination & Remuneration and Audit Committees reconstituted; Rita Teaotia as member.

Operational & strategic developments

• Mercedes-Benz agency model in MBIL sales; commission income recognized.
• Value of MBIL-related car sales disclosed in notes.
• Gratuity impact ₹25.94 million due to New Labour Codes.

Meeting Details

• Date and time: Wednesday, 12 Aug 2026 at 09:00 IST.
• Type and mode: conference call for analysts/investors (virtual).
• Organizer: Landmark Cars Limited.
• Key company participants: Promoter/Chairman & ED; Executive Director; CFO.
• Purpose: discuss Q1FY27 unaudited results (quarter ended June 30, 2026) with Q&A.

Meeting Details

• Date and time: 12 August 2026, 09:00 IST.
• Type and mode: Group virtual earnings conference call.
• Event/organiser: Q1FY27 Conference Call by Landmark Cars Limited; Axis Capital coordinating.
• Call leader: Nishit Jalan, Axis Capital.
• Key company participants: Promoter Chairman & Executive Director; Executive Director; Chief Financial Officer.
• Purpose: Discuss unaudited Q1FY27 results and conduct Q&A.
• Availability: Diamond Pass pre-registration; presentation/details hosted on company site.

Meeting Details

• Date: August 11, 2026; time and location not disclosed.

Key Agenda Items

• To consider Standalone and Consolidated unaudited financial results with Limited Review Report for quarter ended June 30, 2026.
• Any other matter with the permission of the Chair.

Other Notes

• Trading Window Closure Period remains closed and will end 48 hours after results declaration.