Small- Cap stock which is one of the leading premium automotive retail businesses in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and many others in focus upon signing a dealership agreement with Mahindra & Mahindra.
With a market capitalization of Rs. 3,178 Crores, the shares of Landmark Cars Limited were trading at Rs. 769.05, up 0.11 percent from its previous day’s close price of Rs. 768.20.
Landmark Cars Limited one of the leading premium automotive retail businesses in India has signed a Letter of Intent with Mahindra & Mahindra to widen its array of offerings in Hyderabad.
It is going to open three showrooms and four workshops in Hyderabad. These outlets will be established under one of the wholly owned subsidiaries of Landmark Cars, namely, Landmark Mobility Private Ltd. It has three Mahindra & Mahindra outlets in West Bengal in existence.
This strategic initiative underscores Landmark’s commitment to solidifying its presence in the vibrant Hyderabad market. Mahindra & Mahindra will be the third dealership for Landmark Cars in Hyderabad, after Mercedes-Benz and Kia Motors.
This deal is in line with the Company’s strategy of horizontal expansion with fast-growing, premium brands and vertical expansion by going deep into an identified geography.
Landmark Cars Limited is one of the leading premium automotive retail businesses in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra, Kia, MG Motors, and commercial vehicle retail business of Ashok Leyland in India.
It has a pan-India presence with 117 Outlets across the automotive retail value chain, including sales of new vehicles, after-sales service, and repairs, sales of pre-owned passenger vehicles, and facilitation of the sales of third-party financial and insurance products.
Its revenue from operations grew by 9.47 percent from Rs. 876 Crores in Q3FY23 to Rs. 959 Crores in Q3FY24, accompanied by profits of Rs. 26 Crores to Rs. 18 Crores.
It has reported a return on equity (ROE) of 25.2 percent and a return on capital employed (ROCE) of 20.1 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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