Landmark Cars Ltd (NSE:LANDMARK)

Q1 2027 Landmark Cars Ltd Earnings Call Transcript

Aug 11, 2026 / 03:30 AM GMT

Release Date Price: ₹548.05 (-4.15%)

Transcript

Key Points

Positve

Landmark Cars Ltd (BOM:543714) delivered its best-ever Q1 performance with proforma revenue growing over 22% year-on-year and profit after tax nearly doubling, driven by improved operating leverage and cost discipline.
Electric vehicle (EV) adoption is a key growth driver, with 30% of vehicles sold by value being EVs, and the company's analysis shows EVs generate higher after-sales revenue per vehicle due to increased road usage and higher accident repair costs.
The company signed an industry-first MOU with Charge Zone to create a new recurring revenue stream from EV charging commissions, deepening customer engagement beyond the point of sale.
The OEM portfolio is diversified and performing well, with Mercedes-Benz's average selling price rising to approximately INR 79 lakh, MG Motors strengthening its premium portfolio, and new launches from Mahindra, BYD, Kia, and Honda expected to boost volumes.
The company is strategically expanding its service capacity, including a new 50,000 square foot workshop in Mumbai, to capture the significant upside in after-sales for its newer, high-growth brands, which currently contribute only 19% to after-sales revenue versus 38% to new car sales.

Negative

The luxury car market in India has seen reduced penetration relative to the overall market, with premium and mass segments growing faster, potentially limiting near-term growth for Mercedes-Benz.
Gross margins are under pressure due to a changing brand mix, as newer OEM partnerships have different cost structures and after-sales businesses that are still in a ramp-up stage, making gross profit a less reliable metric.
The company faces uncertainty from potential competitive threats, such as Audi's aggressive expansion plans, which could pressure Mercedes-Benz sales, although management views competition as market-expanding.
The demand environment is expected to be more normalized in the latter part of the year, following last year's lumpiness from GST-related changes and pent-up demand, which could lead to less dramatic growth comparisons.
The company is cautious about providing specific financial guidance, such as future profitability targets or detailed unit economics for the Charge Zone partnership, citing a VUCA (volatile, uncertain, complex, ambiguous) world and a desire to keep commercial terms exclusive.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LANM.NS - Landmark Cars Ltd
Q1 2027 Landmark Cars Ltd Earnings Call
Aug 12, 2026 / 03:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Landmark Cars Limited Q1 FY27 Earnings Conference Call hosted by Access Capital Limited.

As a reminder, all participant lines will remain in the listen-only mode and there will be an opportunity for you to ask questions after the management's opening remarks.

Should you need assistance during the conference call, please signal the operator by pressing then 0 on your touch-tone telephone.

Please note that this conference is being recorded.

Before we begin, a brief disclaimer.

This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions and expectation of the company has on date of this

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