Synopsis:
Landmark Cars witnessed a sharp surge in its stock price after reporting its business update with strongest ever quarterly revenue growth post-listing, driven by robust vehicle sales, new outlet additions, and the government’s mid-August GST reduction announcement. After-sales services, agency-based Mercedes-Benz operations, and new KIA, MG, and Mahindra outlets further supported the momentum.
A premium automotive retail stock saw significant buying interest today, lifting its share price sharply as investors reacted to stellar quarterly performance and strong vehicle demand. The growth was supported by new outlet openings, positive reception to multiple brands, and government policy measures that are expected to sustain demand.
Landmark Cars Limited, with a market cap of Rs. 2,607.70 crore, opened at Rs. 602.10, touched a high of Rs. 649.95 against a previous close of Rs. 581.35, registering an intraday gain of 12.02 percent.
What’s the News?
In Q2FY26, Landmark Cars reported total revenue from operations, including agency sales, of Rs. 1,655 crore, marking a year-on-year increase of 30.52 percent over Rs. 1,268 crore in Q2FY25 and a quarter-on-quarter rise of 16.96 percent from Rs. 1,415 crore in Q1FY26.
Vehicle sales, comprising both agency and pre-owned vehicles, contributed Rs. 1,403 crore in Q2FY26, up 35.03 percent YoY from Rs. 1,039 crore in Q2FY25 and 18.90 percent QoQ compared to Rs. 1,180 crore in Q1FY26.
Revenue from after-sales service, spare parts, and other segments stood at Rs. 252 crore, growing 10.04 percent YoY from Rs. 229 crore in Q2FY25 and 7.23 percent QoQ over Rs. 235 crore in Q1FY26.
The proforma revenue includes income from sales of Mercedes-Benz cars under the agency model, where orders are now placed directly through the company to MBIL, earning LCL and LCEPL a commission per sale.
The quarter marked the company’s fastest post-listing growth, surpassing 30 percent YoY, aided by new outlet additions and strong demand during the Navratra period. The government’s GST reduction announced in mid-August and implemented from 22 September 2025 provided an additional boost, despite some postponed purchases during the period.
In July 2025, Landmark Cars operationalized two KIA workshops in Hyderabad and began Mercedes-Benz operations in Patna, which have already started contributing positively. In October 2025, the company opened its Kolkata outlet for MG Select, receiving a favorable market response. In after-sales, the company is targeting historic growth rates for the current financial year, with new workshops driving the highest-ever quarterly after-sales revenue.
The company is also strengthening partnerships with Mahindra & Mahindra, planning a new sales outlet in Hyderabad, and opening small KIA outlets in Hyderabad and Kolkata, expected to be operational in November.
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Financial Snapshot – Q1FY26 Summary
Quarter-on-Quarter (QOQ) performance shows sales declining slightly from Rs. 1,091.22 crore to Rs. 1,061.72 crore, down 2.73 percent, while operating profit increased from Rs. 54.67 crore to Rs. 61.04 crore, up 11.62 percent. PBT rose from Rs. 4.02 crore to Rs. 9.89 crore, up 145.02 percent, and net profit grew from Rs. 1.75 crore to Rs. 7.37 crore, a jump of 321.71 percent.
Year-on-Year (YOY) performance shows sales rising from Rs. 831.98 crore to Rs. 1,061.72 crore, up 27.59 percent, operating profit increasing from Rs. 48.51 crore to Rs. 61.04 crore, up 25.79 percent. PBT improved from Rs. 4.74 crore to Rs. 9.89 crore, up 108.86 percent, and net profit surged from Rs. 3.45 crore to Rs. 7.37 crore, a rise of 113.91 percent.
About the Company
Landmark Cars Limited is a leading premium automotive retailer in India, operating dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra, KIA, MG Motors, and Citroën. The company also serves the commercial vehicle retail business for Ashok Leyland in India. It has a presence across the automotive retail value chain, including new vehicle sales, after-sales service and repairs, pre-owned vehicle sales, and facilitation of third-party financial and insurance products.
Written By Manan Gangwar
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